Banks Issue Flurry Of Default Notices to Homeowners in August

It was reported in the mainstream media that the banks have begun issuing a flurry of default notices to homeowners in August.

So much for the pleas by the President to arrange to work out refinances or better lending terms with the literally thousands of homeowners still who are facing foreclosure, especially in the Southwest, West and Florida, after the latest Washington manipulated boom and bust cycle in which many homeowners were forced into refinances under those "teaser" loans, or even British banking rate terms such as the LIBOR London interest rates.

I guess the time for understanding, or even compassion or integrity has passed.

Gee, I wonder if this has anything to do with Obama's proposal to turn bankers into landlords, and let them "lease out" those properties they are ready to foreclose on to the homeowner who has been scammed out of his property by this boom and bust wave, and the increasing costs of ownership which have also rise far above the cost of living, including in those states with all those property taxes.I wonder just why those banks would be now moving more quickly to initiate those foreclosure actions - to threaten those homeowners into those "lease" agreements, whatever THEIR terms might be?

This should really stimulate the home buying market for those few still in the market to buy into these "New Age progressive" loans and loan terms...