Foreclosure crisis: The fight hits home

  • Article by: RANDY FURST , Star Tribune
  • Updated: March 11, 2009 - 11:13 PM

Protesters targeted a Hennepin County Sheriff's sale of foreclosed properties as they joined a nationwide call for a moratorium.

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btwobomberMar. 11, 0910:22 PM

Thanks to Lori Swanson for going after those that got us into this mess, THE BANKS.

allen2uMar. 11, 0910:23 PM

Do you think the world owes you your own house? I have to pay for mine. Losers.

solocoMar. 11, 0910:34 PM

ACORN was part of the problem and other community organizations. They helped persons get into homes. These were people that did not have a track record that would indicate they were capable of owning a home. Also, the low interest rate drove up the cost of homes as people were able to get a more expensive house for the same payment. Hello! this is basic money supply economics. The FED knew what they were was their scam...churn money through Freddie and Fannie.

qmglen44Mar. 11, 0910:42 PM

Why is there no discussion about personal respoonsibility?? Granted the banks made some bad decisions, but ultimately it is the consumer's responsibility. You sign a legally binding contract, you pay. Don't expect Joe Taxpayer to bail you out because you're ignorant. Why should someone who bought something they couldn't afford be provided an opportunity to reduce their principle and get a 2% interest rate while those of us who pay our bills get nothing except the opportunity to help pay someone else's mortgage. Go ahead Dems, keep up what you're doing and there will be a massive shift of power in 2 years. Notice how more and more Americans are starting to get upset??

raylottieMar. 11, 0910:51 PM

I am sorry you are losing your home, but you have no "right" to own a house. A lot of ordinary folks own stock in the bank that holds your mortgage. If the bank carries non-payers, such as yourself, it hurts the bank's ability to make a profit and ultimately lowers the price of its stock. It's a tough world out there, but you shouldn't be allowed to keep a house you can't pay for. Sorry.

rhankinsMar. 11, 0911:07 PM

I feel bad for the renters who were smart enough to rent, but aren't going to get bailed out at all. So much for justice. People *need* a place to live. They *want* a place to own.

ou8122Mar. 11, 0911:29 PM

Personal responsibility has gone to the way side and is replaced by the poor me syndrome. Once we start to thinking gov't is the answer for all our problems, we are all in trouble. There is no end to this new administration's need to dig their claws into all parts of the private sector in the name of "helping" the middle class. Carefull what you wish for...

mgresistMar. 11, 0911:49 PM

Most of the people decrying poor people for being irresponsible are only one or two paychecks away from being homeless themselves. Did it ever occur to you that some of the people losing their homes are RENTERS who paid their rent faithfully to landlords who fell behind in their mortgages and who are now being evicted as a result of a foreclosure? Did it ever occur to you that many people were doing fine paying for their homes until they lost their jobs, became ill or experienced other circumstances beyond their control? The issue isn't a small amount of "bad paper" carried by banks. The issue is speculators who hyperinflated the value of all mortgages--including the banks themselves. Once the value became unsustainable and the bubble burst, rich bankers and speculators lined up for their bailout bucks. Where's their personal responsibility? The stupidity of bailing out Wall Street is that the money only helps those who don't really need it. By bailing out Main Street, families keep their homes and banks get paid, too. I'll let you speculate for yourselves why Congress is in such a hurry to give your money away to the banks rather than help your neighbors keep their homes.

Jim2005BeamMar. 11, 0911:57 PM

If these people had jobs, or keep the jobs they have, they'll be able to make their mortgage payments. So here's my solution: relief from corporate income taxes for any company that rehires all the workers they have laid off or hires additional workers. Last year 3M paid $1.6 BILLION in corporate income taxes. United Health paid $1.6 BILLION. Target paid $1.8 BILLION. US Bank paid $1.9 BILLION. I calculate the taxes paid by these four companies will buy 68,840 jobs paying $100,000 each (pay and benefits). That's just at these four companies. Think of all the jobs Congress and President Obama could create if they offered this type of corporate tax relief nationwide? So instead of sit down protests here, these "community organizers" (ACORN, the Peoples Economic Human Rights Campaign, the Twin Cities Industrial Workers of the World, Economic Crisis Action Group and Homes Not Jails) should go to Washington to protest for corporate income tax relief. It's a fair deal - no rehires or new jobs, no tax relief. What could be better?

Jim2005BeamMar. 11, 0911:58 PM

Of course I'm assuming people want jobs and want to pay their bills.


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