Mortgage Delinquencies, Foreclosures Increase

Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE_j_CA8fCao&refer=worldwide

May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.

The three-year housing slump is proving resistant to efforts by the Federal Reserve and the Obama administration to lower rates and keep homeowners from failing on their mortgages. One in every eight Americans is now late on a payment or already in foreclosure as mounting job losses cause more homeowners to fall behind on loans, the MBA said.

So how's that Gov't plan working out?

According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

LTRT wrote:Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE_j_CA8fCao&refer=worldwide

May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.

The three-year housing slump is proving resistant to efforts by the Federal Reserve and the Obama administration to lower rates and keep homeowners from failing on their mortgages. One in every eight Americans is now late on a payment or already in foreclosure as mounting job losses cause more homeowners to fall behind on loans, the MBA said.

So how's that Gov't plan working out?

I cant believe it's some people's goal to become bitter and old...

Pez wrote:

LTRT wrote:Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE_j_CA8fCao&refer=worldwide

May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.

The three-year housing slump is proving resistant to efforts by the Federal Reserve and the Obama administration to lower rates and keep homeowners from failing on their mortgages. One in every eight Americans is now late on a payment or already in foreclosure as mounting job losses cause more homeowners to fall behind on loans, the MBA said.

So how's that Gov't plan working out?

I cant believe it's some people's goal to become bitter and old...

There you go ass-uming again. So let's ask another...just how many millions need to lose their homes before the numbers go down?

I stand by my post... nothing more to say.

LTRT wrote:

Pez wrote:

LTRT wrote:Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE_j_CA8fCao&refer=worldwide

May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.

The three-year housing slump is proving resistant to efforts by the Federal Reserve and the Obama administration to lower rates and keep homeowners from failing on their mortgages. One in every eight Americans is now late on a payment or already in foreclosure as mounting job losses cause more homeowners to fall behind on loans, the MBA said.

So how's that Gov't plan working out?

I cant believe it's some people's goal to become bitter and old...

There you go ass-uming again. So let's ask another...just how many millions need to lose their homes before the numbers go down?

How was the Bush plan or simply the conservative plan of do nothing going to help with this problem?

Pez wrote:I stand by my post... nothing more to say.

My bad... just bother me that you drop in an article and a link and make a rhetorical comment without actually expressing your opinion... I can read a conservative blog if I want to.

Bman wrote:

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

Bman wrote:

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

Seems to me that's kind of like going to the doctor b/c you're loosing weight and fatigued. Doctor says you have cancer, but says, "Here, take these 2 tylenols for the pain, and then we'll look at doing chemotherapy on you in the next 1-2 years."

Scooby01_98 wrote:

Bman wrote:

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

Karl Marx ... European Socialism is here!

BOO!!!!!

Be very afraid.... be very afraid.

Heck Rush is so scared he is screaming about Sotomayor being a RACIST! Keep Limbaugh and Cheney out front for the Republicans ... at this rate you guys won't be able to win an LaOtto council race soon.

Bman wrote:

Scooby01_98 wrote:

Bman wrote:

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

Karl Marx ... European Socialism is here!

BOO!!!!!

Be very afraid.... be very afraid.

Heck Rush is so scared he is screaming about Sotomayor being a RACIST! Keep Limbaugh and Cheney out front for the Republicans ... at this rate you guys won't be able to win an LaOtto council race soon.

ooohhh no rebuttal refuting those of FDR, because economist have been saying that for a couple of years now, so your simplistic reply is rush and cheney, nothing else!! This is why your arguments are pathetic and you have no facts for your claims.

Here try reading something....

http://www.cato.org/pubs/policy_report/v25n4/powell.pdf

I am sure there are studies to the contrary of the article I posted but at least I posted something to back up my argument.


And while I am not a republican, I would rather be associated with them than a moonbat like yourself.

http://www.urbandictionary.com/define.php?term=moonbat

Scooby01_98 wrote:

Bman wrote:

Scooby01_98 wrote:

Bman wrote:

Cincy Fan 44 wrote:

meta4 wrote:According to recovery.gov only $31 B out of $787 B has been distributed as of 5-15-09. That's just under 4% of the total.

Isn't most of that money back-ended to something like 2010 and 2011? Or were we just supposed to forget about that?

Just as FDR took his foot off of the accelerator in the mid30's and we slipped back to a recession after coming out of the depression the same thing could happen this time. We need that spending in the future to in order to ensure we don't slip back into a recession after we come out of this trickle down depression.

It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

Karl Marx ... European Socialism is here!

BOO!!!!!

Be very afraid.... be very afraid.

Heck Rush is so scared he is screaming about Sotomayor being a RACIST! Keep Limbaugh and Cheney out front for the Republicans ... at this rate you guys won't be able to win an LaOtto council race soon.

ooohhh no rebuttal refuting those of FDR, because economist have been saying that for a couple of years now, so your simplistic reply is rush and cheney, nothing else!! This is why your arguments are pathetic and you have no facts for your claims.

Here try reading something....

http://www.cato.org/pubs/policy_report/v25n4/powell.pdf

I am sure there are studies to the contrary of the article I posted but at least I posted something to back up my argument.


And while I am not a republican, I would rather be associated with them than a moonbat like yourself.

http://www.urbandictionary.com/define.php?term=moonbat

While this discussion has sort of turned into the stimulus plan; I was really surprised to see how little of the 784 billion has been spent already. Wow a whopping 4 billion, at this rate it will be 2020 before it will be spent.

http://www.usatoday.com/news/nation/2009-05-27-contracts_N.htm?poe=HFMostPopular

Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System.

Scooby01_98 wrote:While this discussion has sort of turned into the stimulus plan; I was really surprised to see how little of the 784 billion has been spent already. Wow a whopping 4 billion, at this rate it will be 2020 before it will be spent.

http://www.usatoday.com/news/nation/2009-05-27-contracts_N.htm?poe=HFMostPopular

Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System.

Say it ain't so Scooby...say it ain't so!

Cincy Fan 44 wrote:

Scooby01_98 wrote:While this discussion has sort of turned into the stimulus plan; I was really surprised to see how little of the 784 billion has been spent already. Wow a whopping 4 billion, at this rate it will be 2020 before it will be spent.

http://www.usatoday.com/news/nation/2009-05-27-contracts_N.htm?poe=HFMostPopular

Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System.

Say it ain't so Scooby...say it ain't so!

Wonder how many $$$ have been spent funding international pregnancy planning and abortions?

Bman wrote:

Cincy Fan 44 wrote:

Scooby01_98 wrote:While this discussion has sort of turned into the stimulus plan; I was really surprised to see how little of the 784 billion has been spent already. Wow a whopping 4 billion, at this rate it will be 2020 before it will be spent.

http://www.usatoday.com/news/nation/2009-05-27-contracts_N.htm?poe=HFMostPopular

Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System.

Say it ain't so Scooby...say it ain't so!

Wonder how many $$$ have been spent funding international pregnancy planning and abortions?

Too much. Let the other countries take care of themselves in that regard. Don't spend MY/OUR tax dollars on something like that. Stupid. Stupid. Stupid. (Not you Bman)

Scooby01_98 wrote:It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

What extreme left spending agenda are you talking about? Didn't the last 8 years of administration policies also increase the deficit and encourage abuses in the absence of simple market regulation(s) to allow this mess in the first place?

meta4 wrote:

Scooby01_98 wrote:It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

What extreme left spending agenda are you talking about? Didn't the last 8 years of administration policies also increase the deficit and encourage abuses in the absence of simple market regulation(s) to allow this mess in the first place?

Meta you silly boy ... Scooby has thrown Bush under the bus now that he is out of office, now all the republicans say chit like I never supported that spending well hindsight is always 20/20. I never threw Bill Clinton under the bus but the right wing is famous for devouring their own, look at the sad state of the party right now. Limbo is in charge of the party ... wait or is it Cheney errr... wait or is it Newt?

I was headed home from work last night and wouldn't you know the CEO from Onvia was talking about recovery.org.

He said something like 7/10 visits to the website were from the .gov! The response from the recovery.gov people was that their site is being built from scratch and we should see good things by November, but recovery.org is way ahead of the game.

compare:
www.recovery.gov
www.recovery.org

Interesting that the .org site reflects the mere $4 B spent, which is much lower than the $31 B from the .gov site. This is probably the first thing I can say I will ding this administration for. Get with the F'n program!

meta4 wrote:

Scooby01_98 wrote:It wasn't FDR taking his foot off the accelerator that kept the economy down. It was his social policies and high tax rates that kept the economy down.

So if the bulk of the fiscal stuff in Obama's plan wasn't to go into effect until 2010 or 2011 what was the rush for no debate needed it to pass right now.....?!?!?! Oh that right there is no fiscal plan only to move the left agenda to the extreme left in that spending bill.

What extreme left spending agenda are you talking about? Didn't the last 8 years of administration policies also increase the deficit and encourage abuses in the absence of simple market regulation(s) to allow this mess in the first place?

Really how many of these things are stimlus vs feel good? How many of these items do you think are going to go away after the recovery? Do you really see them shrinking pell grants or student loans? This is from one of my previous post that this stimulus bill includes pork. Do you really want to compare deficits of $400 billion vs $1.7 trillion? And yep I complained about those deficits too, if you want to say that is throwing Bush under the bus, so be it, heck I'll throw the whole republican party under the bus and dems too since they voted for his budgets. There are articles out there on this subject, of course bman will say they are all conservative whining sites (and yes some are). Once again try google, you'll be surprised what you find.



$10 billion for science facilities, research, and instrumentation.
$6 billion to expand broadband internet access so businesses in rural and other underserved areas can link up to the global economy.

Put these items in a seperate education bill:
$79 billion in state fiscal relief to prevent cutbacks to key services, including $39 billion to local school districts and public colleges and universities distributed through existing state and federal formulas, $15 billion to states as bonus grants as a reward for meeting key performance measures, and $25 billion to states for other high priority needs such as public safety and other critical services, which may include education.
$6 billion for higher education modernization.
Pell Grants: $15.6 billion to increase the maximum Pell Grant by $500, from $4,850 to $5,350.
College Work-Study: $490 million to support undergraduate and graduate students who work.
Student Loan Limit Increase: Increases limits on unsubsidized Stafford loans by $2,000.
Student Aid Administration: $50 million to help the Department of Education administer surging student aid programs while navigating the changing student loan environment.
K-12 Education: As states begin tackling a projected $350 billion in budget shortfalls these investments will prevent cuts to critical education programs and services.
IDEA Special Education: $13 billion for formula grants to increase the federal share of special education costs and prevent these mandatory posts from forcing states to cut other areas of education.
Title I Help for Disadvantaged Kids: $13 billion for grants to help disadvantaged kids in nearly every school district and more than half of all public schools reach high academic standards.
Statewide Data Systems: $250 million for competitive grants to states to design and develop data systems that analyze individual student data to find ways to improve student achievement, providing teachers and administrators with effective tools.
Education for Homeless Children and Youth: $66 million for formula grants to states to provide services to homeless children including meals and transportation when high unemployment and home foreclosures have created an influx of homeless kids.
Improving Teacher Quality: $300 million, including $200 million for competitive grants to school districts and states to provide financial incentives for teachers and principals who raise student achievement and close the achievement gaps in high-need schools and $100 million for competitive grants to states to address teacher shortages and modernize the teaching workforce.

Make these part of your universal health care package:
$20 billion for health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies.
$4.1 billion to provide for preventative care and to evaluate the most effective healthcare treatments.
$87 billion for a temporary increase in the Medicaid matching rate.

Advanced Battery Loans and Grants: $2 billion for the Advanced Battery Loan Guarantee and Grants Program, to support U.S. manufacturers of advanced vehicle batteries and battery systems. America should lead the world in transforming the way automobiles are powered.

Energy Efficiency Grants and Loans for Institutions: $1.5 billion for energy sustainability and efficiency grants and loans to help school districts, institutes of higher education, local governments, and municipal utilities implement projects that will make them more energy efficient.

Home Weatherization: $6.2 billion to help low-income families reduce their energy costs by weatherizing their homes and make our country more energy efficient. (Why just low income?)

Cleaning Fossil Energy: $2.4 billion for carbon capture and sequestration technology demonstration projects. This funding will provide valuable information necessary to reduce the amount of carbon dioxide emitted into the atmosphere from industrial facilities and fossil fuel power plants.

Department of Defense Research: $350 million for research into using renewable energy to power weapons systems and military bases.
Industrial Energy Efficiency: $500 million for energy efficient manufacturing demonstration projects.

Diesel Emissions Reduction: $300 million for grants and loans to state and local governments for projects that reduce diesel emissions, benefiting public health and reducing global warming. This includes technologies to retrofit emission exhaust systems on school buses, replace engines and vehicles, and establish anti-idling programs. 70% of the funds go to competitive grants and 30% funds grants to states with approved programs. Last year EPA was able to fund only 27% of the applications received.

Wireless and Broadband Grants: $6 billion for broadband and wireless services in underserved areas to strengthen the economy and provide business and job opportunities in every section of America with benefits to e-commerce, education, and healthcare.

Scientific Research

National Science Foundation: $3 billion, including $2 billion for expanding employment opportunities in fundamental science and engineering to meet environmental challenges and to improve global economic competitiveness, $400 million to build major research facilities that perform cutting edge science, $300 million for major research equipment shared by institutions of higher education and other scientists, $200 million to repair and modernize science and engineering research facilities at the nation’s institutions of higher education and other science labs, and $100 million is also included to improve instruction in science, math and engineering.

National Institutes of Health Biomedical Research: $2 billion, including $1.5 billion for expanding good jobs in biomedical research to study diseases such as Alzheimer’s, Parkinson’s, cancer, and heart disease - NIH is currently able to fund less than 20% of approved applications – and $500 million to implement the repair and improvement strategic plan developed by the NIH for its campuses.

University Research Facilities: $1.5 billion for NIH to renovate university research facilities and help them compete for biomedical research grants. The National Science Foundation estimates a maintenance backlog of $3.9 billion in biological science research space. Funds are awarded competitively.

NASA: $600 million, including $400 million to put more scientists to work doing climate change research, including Earth science research recommended by the National Academies, satellite sensors that measure solar radiation critical to understanding climate change, and a thermal infrared sensor to the Landsat Continuing Mapper necessary for water management, particularly in the western states; $150 million for research, development, and demonstration to improve aviation safety and Next Generation air traffic control (NextGen); and $50 million to repair NASA centers damaged by hurricanes and floods last year.

Biomedical Advanced Research and Development, Pandemic Flu, and Cyber Security: $900 million to prepare for a pandemic influenza, support advanced development of medical countermeasures for chemical, biological, radiological, and nuclear threats, and for cyber security protections at HHS.

National Oceanic and Atmospheric Administration Satellites and Sensors: $600 million for satellite development and acquisitions, including climate sensors and climate modeling.

National Institute of Standards and Technology: $300 million for competitive construction grants for research science buildings at colleges, universities, and other research organizations and $100 million to coordinate research efforts of laboratories and national research facilities by setting interoperability standards for manufacturing.

$50 million for the National Endowment for the Arts.

http://appropriations.house.gov/pdf/PressSummary01-15-09.pdf

Since I don't want to quote that last post I will just say "I beg to differ, I find most if not ALL of those items stimulus". Spending on building a new lab for NIH is good .. it puts people to work building the the new lab plus our scientist can have the most advance facility as possible.

I could go line by line, just because YOU don't see them as stimulus does not mean that I won't. Scooby, you can look at everything through your conservative tainted glasses, does not change anything though.

Spending right now is good ... I stand by my Keyensian (sp?) theory.

Scooby01_98 wrote:
Really how many of these things are stimlus vs feel good? How many of these items do you think are going to go away after the recovery? Do you really see them shrinking pell grants or student loans? This is from one of my previous post that this stimulus bill includes pork.

Do you really want to compare deficits of $400 billion vs $1.7 trillion? And yep I complained about those deficits too, if you want to say that is throwing Bush under the bus, so be it, heck I'll throw the whole republican party under the bus and dems too since they voted for his budgets.

So noted. You usually back up your posts with good data. I didn't read all of the reposted stuff, but most of it. I'm just saying I don't see an extreme left agenda here simply because you don't agree with these particular spending items (or even others not yet mentioned). You haven't really answered my question as to the "extreme left spending agenda"... I don't see the agenda, I see a large spending bill. (yes, I know. It's the largest.)

If you hold an apple on the end of your nose, does it create a solar eclipse?

I don't know if it's an extreme left agenda, but it sure is idiotic.