Homeowners Still Left Out

As suspected, homeowners on the brink of foreclosure are not getting the help they need.

Mike Colpitts, editor of HousingPredictor.com, said in a recent interview the the federal government is not doing enough to help them.

So far more than 3 million families have lost their homes and our research indicates that 2011 another 3.4 million will also lose theirs.

This crisis began with deregulation during the Clinton administration and has continued with with the White House being pushed by special interest. What we have seen is fraud on a massive scale by mortgage brokers and direct lenders.

We are a nation of laws and without some form of regulation and enforcement of our laws we have seen the violation of the capitalistic structure. The federal government needs to so something to halt the the huge surge of foreclosures.

A good beginning is to freeze foreclosures to them time to work out mortgages that are viable for homeowners.

Words of wisdom. Keep up the good work, Mike.