*Some" of country went nuts over Barack Obama during elections but look where we are at now. President Barack Obama's public approval rating has plummeted faster than any other president in history. Obama tumbled down to 52 percent approval rating at the end of July, according to the latest Gallup survey. Many people are starting to wake up as they count up the promises broken, as well are witnessing questionable bills he passed immediately after taking office. His popularity was so strong that people were hoodwinked, where they might have otherwise protested. These massive blows include the -Cap and Trade bill (which will be the biggest tax increase in US history causing most industries to leave overseas), the Hate Crimes Bill-(which will limit freedom of speech) Health Care Reform (limitations on treatments to older persons/ forced abortions performed by Doctors)Increased the Taxes, Continuation of the Wars he promised to stop, and most importantly he is striping the Consitution to threads, continuing what Bush started. His socialistic stance has not gone unnoticed by many Americans. (Read More.....)
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Some people think that the worst that can happen out of a foreclosure is having 7 years of bad credit, but here are some things you may not have known. Have you heard of what is called a "deficiency judgment"? A deficiency judgment is a judgment lien against a debtor whose foreclosure sale did not produce sufficient funds to pay the mortgage in full. This option may or may not be available to the lender, depending on whether they have made a recourse or nonrecourse loan. 
Approximately 80% of U.S. mortgages issued in recent years to subprime borrowers were adjustable rate mortgages. When house prices began to decline in the United States between 2006-07, refinancing became more much difficult to obtain and adjustable-rate mortgages began to reset, causing a tsunami of mortgage delinquencies. This caused a large population of citizens little to no options for future ownership, as well as effecting the real estate industry and lending practices of the banks. The effect has been felt everywhere. Many financial institutions who held the securities that were backed with subprime mortgages lost most of their value, which caused tremendous losses of many banks, were we now see the money taps tightening credit around the world. 
If you haven't heard, the government is offering a 8,000 dollar tax credit to first time home buyers. Many tax payers wonder how the government affords to give away additional money, while others see the gvt acting in desperation of boosting the economy in a creative way. There is nothing new or creative about producing money out of thin air and giving it away, as it is something the government has been doing for years. Though, many buyers are frantically looking to find a home before the due date so they can take advantage of the one and "only" deal of their lives. It is an excellent strategy used to bate and fish property virgins who come to the real estate table with no foreclosure and bankruptcy stains on their credit. 
78 million baby boomers are heading for retirement, and neither the government nor the boomers themselves have saved sufficiently to meet their needs. This wave of retirees will cause a financial tsunami, as it is not a matter of "if" but "when". Here is the reality- There are no solutions to fix this now. The government hides the problem under the carpet until some day it surfaces. In 2008, the first baby boomer retired, and many now are now starting to collect their checks. The government's official reports state that between 2037 and 2075, the Social Security program will run deficits totaling $30 trillion, and shortfalls will start as soon as 2017. But, I wouldn't count on those