Contrary of Mythical Bank PR, Foreclosure Crisis is Not Over

Jan 30, 2020

In an economy that is driven by consumer spending, the consumers are being left with nothing to spend except more debt.

Investment banks continue to cloak illegal schemes to obtain revenue through illegally weaponizing the process of foreclosure. And contrary to the now popular belief propagated by the banks, the figures are staggering.

You can say that the overall number of foreclosures has declined, but that says nothing about the damage being done on a daily basis. In many parts of the country the foreclosure rates are rising. That is because the banks are playing games with us. When the foreclosures skyrocket somewhere they slow them down and move to another part of the country.

Then they make sure the news is out that foreclosures are the lowest in many years in a particular locale. But the news in other locales remain disturbing and is emblematic of the the continuing damages to our economy, our tax base and our futures from illegal foreclosures that are decimating the middle class and severely hampering their ability to survive on anything but more debt. Eventually that will come to haunt us.

In an economy that is driven by consumer spending, the consumers are being left with nothing to spend except more debt.

What the banks are doing is manipulating the data and thus manipulating the public into thinking that the foreclosure tidal wave that began in 2006 has passed. It hasn’t. The fact that “only” 500,000 homeowners are losing their homes and being forced into bankruptcy is no comfort to those faced with foreclosure and whose property is going to be taken away by vandals.

https://www.northjersey.com/story/news/new-jersey/2020/01/27/new-jersey-had-us-highest-real-estate-foreclosure-rate-2019/4535029002/