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The Alarming Foreclosure Crisis

According to Reuters, banks foreclosed on 1.05 million homes in the U.S. in 2010. Foreclosure filings, including default notices, auctions and repossessions, reached a whopping record of 2.9 million for last year. The outlook for 2011 is bleak, due in part to the fact that an estimated one-quarter million foreclosures that were withdrawn in the latter part of 2010 will likely be re-started in early 2011.
Just five states — California, Florida, Arizona, Illinois and Michigan — accounted for more than half of all foreclosure activity.
Congress, financial institutions and the Obama administration are all busily kicking the political football around; meanwhile, the unemployed and the dispossessed impatiently await at least some measure of relief, while the rest of us wait for the other shoe to drop.
Isn’t it time our elected officials find a way to work in harmony for the common good? Don’t we have the right to insist, even demand, that the largely philosophical differences be worked out by sane and meaningful debate and compromise? Do we have to risk the shutting down of government before breaking the congressional logjam?
How much abuse of the people is too much?

Sales of Denver Luxury Homes Up 48% in January,” Colorado Business Litigation Lawyer Blog, posted 02/23/11
What’s the Latest on U.S. Bank Failures?,” Colorado Business Litigation Lawyer Blog, posted 01/27/11

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