August
report: 11 states have triple digit increases
in foreclosures...| Home - Latest News | Introduction | Bayside Prophecies | Directives from Heaven | Shopping Cart | Testimonies | Veronica Lueken | Miraculous Photos | Bible | Radio Program |
August
report: 11 states have triple digit increases
in foreclosures...
“… the disaster back in the 1920's, My children, was as nothing compared to what will happen now. I talk of a great depression coming upon mankind." - Jesus, October 1, 1988
Business Wire reported on September 10, 2007:
Tens of thousands of Americans lost their homes to foreclosure in August and tens of thousands more face impending foreclosure, both signs the nation’s foreclosure abyss has widened.
Already this year 355,624 homes have been taken back by their lenders following foreclosure, according to analysis of REO filings by longtime California-based foreclosure experts ForeclosureS.com. An REO (real-estate owned) filing is the final step in the foreclosure process and occurs when the bank or lender files notice that it has reclaimed a property for nonpayment of debt.
Despite highly touted government and private efforts to check the nation’s upward spiral of foreclosures, 11 states have recorded triple-digit increases in REO filings so far this year vs. the same period last year. This fallout from the subprime loan debacle shows no signs of abating.
On a per capita basis, which measures the real impact of housing market trends, a little more than 4 of every 1,000 households in the United States have been lost to foreclosure this year. That’s up from just over 3 homes per 1,000 during the same time last year, based on internal research from ForeclosureS.com’s database of more than 3.5 million property listings.
Equally as troubling, pre-foreclosure filings — including notices of default and notices of foreclosure auction — continue to increase at an alarming rate. In fact, if the current trend continues, the number of homeowners in default on their mortgages in the United States since the beginning of the year could top 1 million by the end of October, according to a ForeclosureS.com analysis.
So far this year, 731,244 pre-foreclosures have been filed nationwide. That translates to nearly 10 out of every 1,000 households in trouble financially with their mortgages.
The nation’s Northeast and Southeast regions have suffered triple-digit increases in per capita numbers of homeowners in pre-foreclosure this year compared with last. Pre-foreclosures in the Southeast — 14.2 filings for every 1,000 households — were up nearly 145% so far this year compared with the same period last year. The actual number of filings in the Southeast — 158,466 — also rose 145% to date over the same time in 2006.
The Northeast, which at midyear seemed to be on track to bounce back from the foreclosure abyss, showed a more than 116% increase in per capita numbers, with 8 of every 1,000 households facing mortgages in default. The actual number of filings in the Northeast — 95,528 to date in 2007 — is 120% higher than last year’s number.
It’s a dismal picture, but one that may get a bit brighter for at least some homeowners, thanks to changes in the Federal Housing Administration’s lending practices as announced by President Bush last month, says Alexis McGee, president of ForeclosureS.com and author of the book, “The Foreclosures.com Guide to Investing: Making Huge Profits Investing in Pre-Foreclosures Without Selling Your Soul” (John Wiley, September 17, 2007). Although some homeowners will benefit from the plan, “Thankfully, though, Bush — along with Fed Chairman Ben Bernanke — rejected a wide-scale federal bailout of lenders and borrowers,” says McGee. “After all, both groups, the government leaders agree, made their own financial mistakes.”
Under Bush's plan to help homeowners trapped by subprime ARMs, those who qualify — roughly 80,000 borrowers — will be able to refinance into better and more affordable FHA-backed loans. Bush also wants to raise the FHA’s disconnected from the current market (especially the coastal areas), maximum loan limit of $362,000. That will allow homeowners a chance at FHA loans in markets previously all but priced out, adds McGee.
“But new bailouts and proposals aside, just how bad are things likely to get before they start improving? That depends on what day it is and what reports come from what experts,” says McGee. “The basic economy remains sound. The just-released Fed's Beige Book, which describes the economic conditions in regions around the country, points to the fact that while upheaval in the financial markets has made the housing slump worse, the overall economy hasn't been widely harmed.”
“At almost the same time, though,” McGee adds, “the National Association of Realtors reported that its pending sales of existing homes fell in July to the lowest level in nearly six years. Although the report did support the argument for an interest-rate cut — we anticipate the Fed will cut its benchmark Fed funds rate when it meets Sept. 18 — it also worried investors who are nervous about the housing market growing so weak that it drags the economy into recession.”
The also just-released Mortgage Bankers Association’s National Delinquency Survey for second-quarter 2007 singles out just four states, California, Florida, Nevada, and Arizona, as the drivers of soaring national foreclosure numbers. “Get rid of those states’ problems and national foreclosure numbers actually would be down, the MBA says,” adds McGee. “Of course, we can’t do that, plus states like Ohio, Michigan, Tennessee, and others even the MBA admits have their share of foreclosure issues, too.”
MBA’s latest survey points to a 5.12% delinquency rate (seasonally adjusted) of all loans outstanding in the second quarter this year, up 28 basis points from the first quarter, and 73 basis points from a year ago. (1 basis point=0.01%; 100 basis points=1% change) That doesn’t include loans in the process of foreclosure — another 1.4% of all outstanding loans.
Consider a few more numbers from ForeclosureS.com that help paint the picture of the size and extent of the subprime mortgage problem — a problem that will have to work its way through the system before things start looking up, adds McGee. These numbers are from John Robbins, chairman of the Mortgage Bankers Association, and are quoted from a letter he sent to Jennifer J. Johnson, secretary of the Federal Reserve’s Board of Governor’s in mid-August:
- 4.9% of current homeowners are subprime borrowers with ARMs.
- Of those subprime ARMs, 10.13% (or approximately 250,000 homeowners) are seriously delinquent or in foreclosure.
- Delinquencies in the subprime market were significantly higher at the end of 2000 and in 2002 as compared with the first quarter of 2007, according to the MBA’s National Delinquency Survey, the widely recognized, reputable authority on delinquency numbers.
Let’s look at ForeclosureS.com August’s default and foreclosure numbers: Among REO filings, states with triple-digit gains year over year are: California (with filings up 471%), Arizona (up 217%), Nevada (up 192%), New Mexico (up 157%), Florida (up 141%), Hawaii (up 138%), New Hampshire (up 119%), and Minnesota (up 112%).
- On a per capita basis, states with the most people losing their home this year include: Louisiana (14.7 homeowners out of every 1,000 households in the state), Michigan (11.1 per 1,000), Nevada (11 per 1,000), Georgia (9.9 of every 1,000), Colorado (9.8 per 1,000), Indiana (8.8 per 1,000), Ohio (7.6 per 1,000), and Missouri (7.6 per 1,000).
- Costilla County, Colorado, leads the nation in REO filings per capita so far this year with 256.2 of every 1,000 households lost to foreclosure. But in a bit of irony, that’s actually down more than 33% from the same period last year.
- Other leading counties with their per capita REO filing numbers year to date include: Valencia County, New Mexico (80.7 filings per 1,000 households); Mohave County, Arizona (38.4 filings per 1,000 households); Elko County, Nevada (38.2 filings per 1,000), and East Baton Rouge Parish, Louisiana (33.9 filings per 1,000 households).
- States with the most pre-foreclosure filings per capita year to date include: Nevada (30.9 per 1,000 households); Florida (21.5 per 1,000); Colorado (16 per 1,000); Illinois (15.3 per 1,000); California (14 per 1,000); New Jersey (14 per 1,000); Arizona (13.5 per 1,000); Utah (10.6 per 1,000); Texas (9.2 per 1,000 households), and Tennessee (8.7 filings for every 1,000 households).
- Counties with the highest per capita numbers of pre-foreclosure filings nationwide year to date and for the month of August include: Alpine County, California (45.5 filings per 1,000 households); Lee County, Florida (42.3 filings per 1,000); Pinal County, Arizona (40.4 per 1,000); Flagler County, Florida (40.2 per 1,000), and Clark County, Nevada (39.2 filings per 1,000 households).
"My child and My
children, the days will grow darker, and there will be hunger in your land. Yes,
My child, what I brought you here for this evening is to tell the world that
there will be a crash in the monetary doings of your government—an absolute
crash that will affect every man, woman, and child in the United States and
Canada, and then, like a serpent, creep all over Europe, until the world sees
one big, massive depression. I can illustrate to you, My children, what I mean
by this monetary depression.
"Should you go and wish to buy a small instrument, even a guitar, that We
hear plucking away at the dervishly, and devilry, of what is called the musical
Mass, strung by guitars, and other creations of satan. My child, I go on to tell
you, you will say that the guitar is not a costly item, but in order to buy this
guitar you will carry an actual satchel, an overnight bag-size, My child—let Us
put it that way clearly—of notes, your currency. It will take a whole suitcase
of paper—paper money that no longer has a value. You will soon be reduced to
bartering for your food.
"My child, I know you are affrighted at this word 'war'; 'death', 'turmoil',
'depression', but what can I do but tell you the truth. I cannot smooth over it,
for I would be accepted like those upon earth who like ostriches, they walk
about, proud in their scientific knowledge." - Our Lady of the Roses,
September 7, 1985
The awesome Bayside Prophecies...
https://www.tldm.org/Bayside/default.htm
These prophecies came from Jesus, Mary, and the saints to Veronica
Lueken at Bayside, NY, from 1968 to 1995:
A godless nation shall
fall! . . .
"Without
My Son you are lost. A godless nation shall fall. A nation that has been eaten
away and rotted by sin shall fall. A nation that has turned itself back and
regressed to a state of animal living bordering on all sins of the flesh and
impurity; given over to all manner of seeking things of the world; power, lust,
envy, hate, murders, abortions, worship of false idols; loving money, power, and
lacking the instinct of survival when survival can only be reached by pleading
from them to the merciful heart of the Eternal Father." - Our Lady, June
13, 1981
A great money disaster . . .
"My child and My children, pray a constant vigilance of
prayer. Keep this going throughout the United States and all of the nations of
the world, for there is little time left. Soon, in the plans of the Eternal
Father, He shall set forth and allow to come upon mankind, a great money
disaster. In this way it will prove to you that the disaster back in the
1920's, My children, was as nothing compared to what will happen now. I talk of
a great depression coming upon mankind." - Jesus, October 1, 1988
Destruction of the world monetary systems . . .
"You
will understand and broadcast the message to the world that there will be a
great destruction in the monetary systems of the world. It will affect both the
United States and Canada, and all the great powers of the world. And I repeat
again: You will go to your stores to do your shopping carrying papers which may
as well be newspapers, for the value they will have to purchase even food will
be nil.
"How can a great country like the United States fall, you say, My child?
You ask Me in your heart. I read your heart. I will tell you why. Because they
have given themselves over to satan. When a country has lost its morality and
seeks the pleasures of the flesh, giving over, themselves over, to all manner of
abominations, like homosexuality, and condoning this up the highest courts of
the land, then that country shall fall." - Our Lady, November 1, 1985
Gathering of the world's
money to control the masses . . .
"Man
shall not create a new world as he seeks. For there cannot be a lasting world
without His God. And I speak not of the false idols and gods that man creates
in his human nature! There is only one Creator.
"You who cast aside this knowledge and choose to set yourselves up by power
and the gathering of the world's money to control the masses, you will find that
all of your power and all of your volumes of gold and silver cannot hold back
the heavens as they descend upon you in a just chastisement. The world, the
earth shall tremble, fear shall come upon mankind as he watches the approach of
the destruction that he himself has chosen to set loose." - Jesus,
February 10, 1978
Evil force like an
octopus . . .
"There is a great evil force now enshrouding your world; it is like an octopus
reaching out in every direction to ensnare the world. It is a force of evil set
up by satan. There are many arms of the octopus controlled by the monies of the
world.
"For the love of money and riches, many will sell their souls to get to the
head. O My children, what do you gain if you gather all of the riches of the
world and destroy your soul. When you come over the veil, and you will come over
the veil, what will you bring with you - nothing of the material. You must
gather your riches in Heaven now. They are supernatural: the graces, the merits
that will allow you to enter into the Kingdom of
your
God." - Our Lady, June 24, 1976
The Illuminati . . .
"There is a group in the United States and the world, a
group that started many years ago, calling itself the Illuminati, coming from
the word 'light bearer'. Naturally, My children, this light that they bear
stands for Lucifer, and as such they have gone through the world secretly known
as Luciferians. They have brought into your country, the United States, and
your neighbor Canada, a group of witchcraft practices. Well have they laid
their plan to destroy your children with drugs, using your school systems, your
medias of communication, your newspapers, your televisions, your radios: every
means of communication has been infiltrated by the member and sub-members of the
Illuminati, a conglomeration of individuals and powers and principalities
throughout the world, and banking systems. As you well know, My children, money
has always been the root of all evil, and many have sold their souls to get to
the head." - Our Lady, November 25, 1978
You are worshiping idols . . .
"My children, you must change your values back to the plan of your God. As a
nation, as a country, as in many countries throughout the world, you have become
paganized and immoral. My children, it is the gauge for the fall of mankind:
immorality and paganism. No nation shall stand without its God, the God in
Heaven.
"Man is creating many new gods, gods to feed his human nature; and it is a
basic carnal nature. Idolaters abound. When you worship in abundance things, My
children, you are worshiping idols! If you spend your time gathering things,
money, power, you are worshiping idols. Remove yourself from these worldly
pursuits.
"It is a narrow road to the Kingdom of your God, Heaven. Many are called
but few are chosen. The road with satan is wide. Many walk it and can never
leave, because there are too few prayers said for them and by them.
"Nothing is impossible to your God. Man shall never reach the highest
pinnacle of Heaven in knowledge." - Jesus, March 18, 1978
Many will sell their
souls to get to the head . . .
"The road to
Heaven, My children, is a narrow one; too few stay upon it. For they are
often carried away with the cares of the world, and the pleasures of the
materialistic pursuits, and their gathering of money and prestige and power.
For what? For the few short years allotted to each human upon earth.
I ask you to ask yourself: is it worth it to lose your soul? Many will
sell their souls to get to the head." - Our Lady, November 20, 1979
Gather your graces . . .
"You cannot accept
two masters. One you will love, and the other you will learn to hate. And
remember, My children, where your treasures are, your heart will always lie. And
better that you gather your treasures in a place where there is neither rusting,
nor attacks by moths, and robbers cannot take them from you. Store your
treasures in Heaven, My children. Gather your graces. You must ransom your soul
and the souls of your children, your households. Do not wait expecting to be
repatriated at the last moment, My children. Many are coming across the veil
unprepared, and, sadly, they cannot be accepted into the Kingdom." - Jesus,
August 5, 1977
Store canned goods,
water and blankets . . .
"My children, I caution you now, and I wish that you remember these
instructions from several years ago in earth's time that I gave to you, to keep
in your homes a good supply of canned good. They have shelf value, My children,
they will not spoil. But better that you keep them and they spoil than to have
come upon you the great Chastisement. It will be a ball of fire which will
ignite many of the chemicals that are being stored up for the destruction of the
nations.
"My children, not only with the canned foods will you store just food, but
you must also make known to your families and your friends that they had best
keep blankets and water in tight containers; for there will be on the onset of
the Chastisement, there will be nothing that you can buy due to contamination."
- Our Lady, July 1, 1985
Read the Bayside Prophecies:
Directives...
D213 - Riches, Part 1
D214 - Riches, Part 2
D215 - Money
D307 - Monetary crash
Articles...
Foreclosures:
New mortgage foreclosures set record
https://www.tldm.org/News11/MortgageForeclosuresSetRecord.htmShiller: U.S. housing woes could spur world slump
https://www.tldm.org/News11/HousingWoesCouldSpurWorldSlump.htmCredit crunch hits the consumer — foreclosures double
https://www.tldm.org/News11/ForeclosuresDouble.htmThe worst isn't over in mortgage meltdown
https://www.tldm.org/News11/MortgageMeltdown.htmCredit crisis and stock markets:
Leading lender H&R Block likens US credit crisis to Great Depression
https://www.tldm.org/News11/H&RBlockLikensCrisisToDepression.htmFed faces gigantic insolvency time bomb
https://www.tldm.org/News11/FedFacesInsolvencyTimeBomb.htmGlobal money markets tighten on cash shortages
https://www.tldm.org/News11/GlobalMoneyMarketsTighten.htmDollar collapse, stock market sell-off looms
https://www.tldm.org/News11/StockMarketSell-offLooms.htmNo time to sit and watch: "What we have on our hands here, folks, is a full-blown, global financial crisis"
https://www.tldm.org/News11/GlobalFinancialCrisis.htmWorld stock markets spiral lower
https://www.tldm.org/News11/WorldStockMarketsSpiral.htmFed OD’s on liquidity but risks depression
https://www.tldm.org/News11/FedRisksDepression.htmU.S. Comptroller General: Learn from the fall of Rome
https://www.tldm.org/News11/ComptrollerGeneralFallOfRome.htmPerfect storm of debt rattles Wall Street
https://www.tldm.org/News11/PerfectStormOfDebt.htmAsian stocks tumble the most in five months on credit concern
https://www.tldm.org/News11/AsianStocksTumble.htmSubprime panic points to taxpayer bailout
https://www.tldm.org/News11/SubprimePanicTaxpayerBailout.htmFed cowardice invites catastrophe
https://www.tldm.org/News11/FedCowardiceInvitesCatastrophe.htmForeign money props U.S. economy
https://www.tldm.org/News11/ForeignMoneyPropsUSEconomy.htmU.S. Treasury Secretary Henry Paulson: Coming financial crash shows need for immediate monetary reform
https://www.tldm.org/News11/PaulsonComingFinancialCrash.htmSlow demise of the mighty greenback
https://www.tldm.org/News11/DemiseOfMightyGreenback.htmCredit spree could cause 1930s-style depression
https://www.tldm.org/News11/CreditSpreeCouldCauseDepression.htmGloom gathers over U.S. economy
https://www.tldm.org/News10/GloomGathersUSEconomy.htmIt’s official: The crash of the U.S. economy has begun
https://www.tldm.org/News10/CrashOfUSEconomyHasBegun.htmThe plan to destroy America - via the dollar
https://www.tldm.org/News9/PlanToDestroyAmericaViaDollar.htmOil producers shun the dollar; Russia and Opec shift revenues into euros, yen and sterling
https://www.tldm.org/News9/OilProducersShunDollar.htmU.S. Comptroller General warns the nation of economic calamity
https://www.tldm.org/news9/MonetaryCrashComptrollerGeneral.htmCentral banks caught in gold squeeze may crush dollar
https://www.tldm.org/News9/goldSqueezeMayCrushDollar.htm
Links...
Sub-prime lender says problems are on scale of Great Depression, [U.K.] Times Online, August 31, 2007
http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2358099.eceVideo: Money expert Jim Cramer of CNBC - "They're nuts, they know nothing! ... In the fixed income market, we have Armageddon"
http://www.youtube.com/watch?v=SWksEJQEYVUWall Street tremors, Asian markets' tsunami, Forbes.com, August 10, 2007
http://www.forbes.com/markets/2007/08/10/asian-markets-roundup-markets-equity-cx_vk_0810markets03.htmlWorld markets rattled amid Dow Jones crash, ABC News Australia, August 10, 2007
http://abc.net.au/news/stories/2007/08/10/2001292.htm?section=businessRisky home loans run a fever, and the market prays it doesn't spread, U.S. News and World Report, July 15, 2007
http://www.usnews.com/usnews/biztech/articles/070715/23subprime.htmU.S. dollar facing imminent collapse? WorldNetDaily, December 10, 2006
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53311USA Today report: Real federal deficit 3.5 trillion, Newsmax, August 3, 2006
http://www.newsmax.com/archives/articles/2006/8/3/123820.shtml?s=lh
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On February 1, 1974, Our Lady said, "My children, know the value of
these sacramentals. Guard your children well. You must awaken to the
knowledge that you will not be protected without the sacramentals. Guard
your children's souls. They must be surrounded with an aura of purity.
Remove them if necessary from the sources of contamination, be it your
schools or even false pastors."
This Heaven’s Personal Protection Packet is available for a donation of
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Your names have been written in Heaven… "It is not by accident that you are called by My Mother, for your names have been written in Heaven.... But with this great grace you have great responsibility to send this Message from Heaven throughout the world, for if you are able to recover just one more for Heaven, an additional star shall be placed in your crown." - Jesus, August 5, 1975
A great obligation to go forward... "It is not by accident that you are called by My Mother, for it is by merit and the prayers that have risen to Heaven for your salvation. For those who have received the grace to hear the Message from Heaven, you have a great obligation to go forward and bring this Message to your brothers and sisters. Do not expect a rest upon your earth, for you will have eternal rest very soon." - Jesus, June 12, 1976
The sin of omission... "The sin of omission shall condemn many to hell, be they layman or Hierarchy. I repeat: not the sin of commission, but the sin of omission will commit many to hell." Our Lady of the Roses, October 6, 1980
We encourage everyone to print or email copies of this web page to all the Bishops and all the clergy. Also, email or send this web page to the news media and as many people as possible.
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