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Re: FiremanDave post# 5490

Sunday, 05/17/2009 8:30:59 AM

Sunday, May 17, 2009 8:30:59 AM

Post# of 14996
Always - Foreclosures are back on the rise. This time - not just because of subprime lending - but for the following reasons:

1.) 20% of homeowners are upside down on their home.

2.) Unemployment is a large problem, but underemployment, a number not reflected, is a MUCH LARGER issue.

3.) Credit Cards have increased the minimum payment due - which is causing a struggle for many people. People are now choosing between keeping current on the mortgage - or the credit cards.

Add to the foreclosure problem that banks have been instructed by the STRESS TEST, to raise capital. Instead of using more TARP money and giving the Government more control - They are diluting the common shares.

BEARS VS. BULLS

My post are opinions only - Please do your own due diligence before investing.