Listen to this 'Talk of the Nation' topic

In Phoenix, foreclosures are a big problem. (In the last year, more than 25,000 houses have been foreclosed.) As we'll hear at the end of the second hour today, Arizona has implemented several initiatives to help struggling homeowners and homeless families. We'll use Phoenix as a microcosm, to find out more about the problem nation-wide. If you live in a place where the real estate market is crumbling, where homeowners have become former homeowners, we want to hear from you. How has it affected your community? Have your lawmakers, at the local or state levels, tried to help?



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I have not noticed many foreclosures here in Flagstaff (2 hours north of Phoenix) ... How is rural Arizona doing overall?

Sent by Ed F. | 2:32 PM | 9-25-2008

I'm frustrated that I'm paying for or are effected by other individuals who are in mortgages they couldn't afford in the first place. When will folks realize if you can't afford it don't buy it....2 new cars, the $1500+/month mortgage and wonder why they don't have a financial cushion when times are tough. I love my 1300 square foot ranch style home, plenty big enough with it's out of fashion white kitchen appliances and my 4 year old car gets me around just fine here in Texas. Simplistic maybe, in debt, no.

Sent by Terri Robison | 3:17 PM | 9-25-2008

There are two homes in our small upscale development that have been bank owned for a year. It is interesting that there have been no "for sale" signs on these houses in the year that we have been here. It is almost like the banks that own them don't want to sell them. One almost wonders if these banks were waiting for the bailout.

Sent by Jean | 3:45 PM | 9-25-2008

I live in Flagstaff (about 2 hours north of Phoenix) I have not seen any foreclosures here & houses are still very expensive ... how are rural areas in Arizona (and other states getting bad foreclosure publicity) doing overall?

Sent by Ed F. | 3:46 PM | 9-25-2008

I own a home in Mesa, Az and i bought a condo that has since deprecated 30k. I pay my mortgage on time and have really no hardship.
Why is it only "struggling" home owners are qualifying for lower mortgages ie internet rates and/or mortgages based on the current value of their homes? It seems homeowners who do their part are being left out.

Sent by Erik Abramowitz | 3:46 PM | 9-25-2008

All the wall street experts talk about the housing bubble only in terms of liquidity. I saw this coming as soon as we started seeing no increase in wages for the lower 70% of workers. When wages are stagnant and housing is going up 20% each year haw can anyone with any knowledge of economics think that the housing price increases are sustainable?

Sent by Todd Schwarz | 3:47 PM | 9-25-2008

The market made it more difficult to get a loan when I bought a house this summer in the Sacramento, Ca. area.
I wonder why the melt down caught so many by surprise....I am not a financial wizard, but even I could tell that the mortgage lending practices were not a good thing.

Sent by Wanda Garrett | 3:51 PM | 9-25-2008

Why doesn't the bail out involve a reduction of the price of the loans involved to reflect the true value of the properties in question.

Sent by Paul S | 3:54 PM | 9-25-2008