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Heart Attacks, Depression and Suicide: The Toxic Fallout From the Foreclosure Ep


               
2014 Jan 11, 9:38pm   672 views  2 comments

by Bubbabeefcake   follow (1)  

http://www.huffingtonpost.com/jeffrey-ritterman/foreclosures-health_b_4543379.html

My hometown of Richmond is making national headlines as our courageous mayor, Gayle McLaughlin, has taken the initiative to defend struggling homeowners against mortgage bankers. The city is threatening to invoke eminent domain if the banks don't come forward voluntarily to rewrite the mortgages on homes threatened with foreclosure. It's a bold and courageous move, and a just one as well.

#housing

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1   lostand confused   2014 Jan 11, 11:06pm  

Buy a million dollar home, when you make 10k and then cry when they try to take said home away.

This country is seriously screwed up. No personal responsibility at all. it is always someone else's fault.

2   fedwatcher   2014 Jan 18, 11:08am  

These people are depressed because they bought into the lies around Real Estate. They took on too much debt on the belief that the house's price would go up. They thought their house was an alternative to savings. They thought they could treat their house as an ATM. They thought their house was going to provide them with a secure retirement.

When one's belief system is trashed and they realize they are bankrupt, they get depressed. Their only alternative is to believe they were right and somebody did this to them.

Well I think we are better off with a lot of depressed people in Richmond rather than people rioting in the streets to get even.

Eminent Domain is a way of the city pointing the finger at someone "responsible" and reduces depression if they succeed in their fight with the real estate/banking lobby. But if the city fails, watch out.

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