Foreclosures Continue To
Increase Dramatically In 2010

By: Michael Snyder

PREFACE

Money is what the "end of days" is all about.

The Bible says,

"For we brought nothing into this world, AND IT IS CERTAIN THAT WE CAN CARRY NOTHING OUT.

"And having food and raiment let us be therewith content. (I Tim. 6:7-8)

"Having food and raiment, let us therewith be content." Unfortunately, that's not what today's Christians want to hear! But, nonetheless, whether we want to hear it or not, it's the truth.

There is, therefore, a very somber and earnest reason that we as Christians come to grips now, while there is still time, with our love of money - BECAUSE THAT IS WHAT THE "END OF DAYS" IS ALL ABOUT. IT IS ABOUT MONEY! You're surprised? You thought it was about "false signs and wonders," "false doctrine," etc. Well, it is that, but it is also about money! The Bible says:

"And he (i.e., the "false prophet") causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

"AND THAT NO MAN MIGHT BUY OR SELL, SAVE HE THAT HAD THE MARK or the name of the beast (i.e., the Antichrist), or the number of his name." (Rev. 13:16-17)

Those Christians who fail to recognize the intersection between money and the "end of days" are precisely those that Jesus warned:

"I am come in my Father's name, and ye receive me not: if ANOTHER shall come in his own name, him ye will receive." (John 5:43)

And why is that? – because when this "OTHER" comes he will offer Christians a way out of their financial distress – partner with this "OTHER" and you will once again be offered access to the "good life."

__________________________________

In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010.  But there has been a shift.  Back in 2007 and 2008, experts tell us that most foreclosures were due to toxic mortgages.  People were being suckered into mortgages that they couldn't afford with "teaser rates" or with payments that would dramatically escalate after a few years, and when those mortgages reset, the people who had agreed to them no longer could make the payments.


Note what's happening here: As foreclosures increase, home values are plummeting pushing more and more Americans into a situation where they owe more money on their mortgage than the house is worth.

But now RealtyTrac says that unemployment has become the major reason for foreclosures.  Millions of Americans have become chronically unemployed during the economic downturn and many of them are losing their homes as a result. 

According to a new report from RealtyTrac, foreclosure filings climbed in 75% of the nation's metro areas during the first half of 2010.  At a time when the government says we are "turning the corner", things just seem to get worse.

Millions of Americans have become chronically unemployed during the economic downturn and many of them are losing their homes as a result.

Some areas of the country continue to be complete and total disaster areas when it comes to real estate.  For example, you have got to feel really sorry for anyone trying to sell a house down in Florida right now.  According to RealtyTrac, Florida led the way with nine of the top 20 metro foreclosure rates in the country during the first half of 2010.

Ouch!

But the worst city for foreclosures continues to be Las Vegas. [Please see our article on Las Vegas, "A Real-Life Picture of the Economic Collapse That Will Eventually Affect Everyone in the United States."]

According to RealtyTrac spokesman Rick Sharga, unemployment has replaced bad loans as the number one cause of foreclosures there....

"Las Vegas has seamlessly shifted from having a high level of foreclosures due to bad loans to defaults caused by a high level of unemployment."

But other cities with high unemployment rates are having huge problems as well.

For those who believe that the economy is supposed to be "improving", it must seem really odd that foreclosure rates in major cities such as Chicago continue to soar.

RealtyTrac says that foreclosure filings in Chicago have increased 23 percent year-over-year to one out of every 48 households.

But it isn't just cities like Las Vegas and Chicago that are nightmares right now.

The truth is that this is a national crisis.

The Mortgage Bankers Association recently announced that more than 10% of all U.S. homeowners with a mortgage had missed at least one mortgage payment during the January to March time period.  That was a new all-time record and represented an increase from 9.1 percent a year ago.

Unfortunately, new all-time records are being set all over the place....

  • The number of home foreclosures set a record for the second consecutive month in May.

  • Banks repossessed 269,962 U.S. homes during the second quarter of 2010, which was a new all-time record.

  • As of March, U.S. banks had an inventory of approximately 1.1 million foreclosed homes, which was a new record and which was up 20 percent from a year ago.

So is there any hope that things are going to get better soon?

Well, according to RealtyTrac’s CEO James Saccacio, that depends on the U.S. economy....

"The fragile stability achieved in many local housing markets hinges on improvements in the underlying economy, specifically job growth. If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas."

Without good jobs, the American people are not going to be able to pay their mortgages.

So are the millions upon millions of jobs that have been lost coming back soon?

No, unfortunately they are not.

As we discussed at length in a previous article, the big global corporations that dominate our economy are figuring out that they don't really need the rest of us anymore.  The American worker is becoming obsolete.  After all, why pay an American ten times as much to do the same job?  Big corporations can hire two people in China or India to do the same job and still pocket 80% of the difference.

In addition, big corporations don't really need the headache of making employer contributions to Social Security, setting up benefit packages and pension plans or of trying to comply with the thousands upon thousands of ridiculous regulations that the U.S. government continues to spew out.

At this point, the American worker has become extremely unattractive for large corporations, and so jobs will continue to migrate to other areas of the world. [Please see our article, "Jobs Flying Faster from U.S."]

We allowed our politicians to merge us into a "global economy", so now we are all going to have to deal with being part of a "global workforce".

As jobs continue to be offshored and outsourced, more Americans are going to become unemployed and the foreclosure crisis is going to continue to be a nightmare. [Please see our article, "The Elites Want High Unemployment."]

It would be nice to put a positive spin on all of this, but there isn't one.

__________________________________

A NOTE FROM S.R. SHEARER:

The Bible speaks of the "deceitfulness of riches" (Matt. 13:22, Mark 4:19) - i.e., that riches are a sham and a fraud - one of those things that makes one's Christian life UNPRODUCTIVE. [Please see out article, "The Deceitfulness of Riches and the Marxist Paradigm."]

Yet knowing what the Bible says concerning this matter, most of us continue to believe that we are masters of it, WHILE WE ARE REALLY ITS SLAVES! - and all this despite the fact that money and riches are such fleeting and cursory things. Death comes to all men - the rich as well as the poor - and much sooner than most expect. Jesus says:

"... a man's life consisteth not in the abundance of the things which he possesseth.

"And he spake a parable unto them, saying, The ground of a certain rich man brought forth plentifully:

"And he thought within himself, saying, What shall I do, because I have no room where to bestow my fruits?

"And he said, This will I do: I will pull down my barns, and build greater; and there will I bestow all my fruits and my goods.

"And I will say to my soul, Soul, thou hast much goods laid up for many years; take thine ease, eat, drink, and be merry.

"But God said unto him, THOU FOOL, this night thy soul shall be required of thee: then whose shall those things be, which thou hast provided?

"And he said unto his disciples, Therefore I say unto you, Take no thought for your life, what ye shall eat; neither for the body, what ye shall put on.

"... life is more than meat, and the body is more than raiment. (Luke 12:15-20, 22-23)

Christ called the man here a FOOL - and He calls everyone who pursues wealth and trusts in riches "fools" - and this despite the fact that He forbids our use of the word - i.e., "whosoever shall say, Thou fool, shall be in danger of hell fire" (Matt. 5:22). Obviously, there is something here of great importance that He is trying to get across to us. The Bible says,

"For we brought nothing into this world, AND IT IS CERTAIN THAT WE CAN CARRY NOTHING OUT.

"And having food and raiment let us be therewith content. (I Tim. 6:7-8)

"Having food and raiment, let us therewith be content." Unfortunately, that's not what today's Christians want to hear! But, nonetheless, whether you want to hear it or not, it's the truth.

THE "END OF DAYS" IS ABOUT MONEY

There is, therefore, a very somber and earnest reason that we come to grips now, while there is still time, with our love of money - BECAUSE THAT IS WHAT THE "END OF DAYS" IS ALL ABOUT. IT IS ABOUT MONEY! You're surprised? You thought it was about "false signs and wonders," "false doctrine," etc. Well, it is that, but it is also about money! The Bible says:

"And he (i.e., the "false prophet") causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

"AND THAT NO MAN MIGHT BUY OR SELL, SAVE HE THAT HAD THE MARK or the name of the beast (i.e., the Antichrist), or the number of his name." (Rev. 13:16-17)

"Buying" and "selling?" - what's that all about? - it's about MONEY! Yes - again - the "Great Deception" of the "end of days" will involve false "signs and wonders," "false doctrine," the "New Age," false forms of ecumenicism, etc. But more than most Christians want to admit, it is also about money - that's what the "Mark of the Beast" is all about! - MONEY!

I remind you again of the words of the Prophet Habakkuk:

"Though the fig tree may not blossom, Nor fruit be on the vines; Though the labor of the olive may fail, And the fields yield no food; Though the flock be cut off from the fold, And there be no heard in the stalls - YET I WILL REJOICE IN THE LORD, I WILL JOY IN THE GOD OF MY SALVATION." (Habakkuk 3:17-18)

We need your help to spread the word concerning Antipas Ministries and the eschatological viewpoint it represents; WE NEED YOUR HELP BECAUSE WE DO NOT "LINK" WITH OTHER SO-CALLED "CHRISTIAN" WEBSITES which are, for the most part, "in the tank" insofar as their loyalty to the United States is concerned - a loyalty that has made them partners in the BLOODY trail the American military has left in its TERROR-RIDDEN rampage throughout the world, as well as making them partners in the abject poverty that American corporations have imposed on the peoples and nations the American military machine has ravaged - A BLOODY, TERROR-RIDDEN RAMPAGE THAT HAS TO A LARGE DEGREE BEEN CARRIED OUT IN THE NAME OF THE "PRINCE OF PEACE." [Please see our articles, "The Third World as a Model for the New World Order," Inside the American New World Order System" and "The American Empire: The Corporate / Pentagon / CIA / Missionary Archipelago."]

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