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Home Foreclosure Crisis The Worst In John McCain's Own Backyard

While John McCain is attempting to score political points with the right wing donors of his own political party by opposing efforts of President Obama to ease the nation's economic crisis, only to help to secure campaign funds for McCain's own 2010 re-election, or possibly another run for president in 2012, McCain has ignored the voters of his own state who are suffering from the worst of the home foreclosure crisis. While one in 466 homes nationally is currently in foreclosure, in McCain's own Arizona the rate is actually one out of every sixteen homes in some parts of his own state.foreclosure.jpg

In Mesa, Arizona, for example some neighborhoods might have at least two homes for sale on each block. Many homes that are now owned by banks with foreclosure signs might have seriously deteriorated conditions such as brown dried-up lawns, broken windows, gang graffiti and other eyesores. But with little loan money available from banks to assist new buyers, these homes are only expected to continue to deteriorate in appearance as the "For Sale" signs grow cobwebs. In fact, some angry neighbors have even started some websites to highlight these awful looking rundown bank owned foreclosure homes for sale in states like Arizona where banks never bother to mow the lawn or perform basic yard or appearance maintenance. Yet John McCain works hard to oppose President Obama's policies to revive the economy and to address issues like the home foreclosure crisis.

The inside contents of some of these homes tell of some very sad stories. In many of these homes, the banks forced the buyers out so quickly that they left behind much of their personal property including their wedding photos or pictures of their family members. In many cases, a sheriff knocked on their front door and simply ordered entire families to leave the property immediately because some bank was taking over the property. John McCain has no doubt received thousands of letters from voters telling him of such sad stories. But he doesn't seem to care based on his recent voting record opposing all financial rescue attempts by the Obama Administration.

In Arizona, another big problem was so many unethical sub-prime loans made at interest rates of 7% that were suddenly raised to 10% due to fine print clauses. Yet John McCain sits on the senate committee that is supposed to deal with consumer issues. Where has John McCain been when thousands of letters arrived in the mail to his senate office complaining about unethical loan terms that set so many up in his own state to fail and lose their homes?

The fact of the matter is that many borrowers in Arizona were duped by scam teaser loan rates that were very low, only to find these rates soon raised to a payment level which they could not afford, especially as the job market softened up in Arizona and unemployment worsened. But where was John McCain during all of this?

John McCain is way too typical of way too many long time Washington politicians who have been in office way too long that have grown far out of touch with their own voters. When John McCain only narrowly won his home state over Barack Obama by the relatively tight 54 to 45% margin in 2008, a margin closer than Bush's 2004 win over John Kerry in the state, it should have been a political wake-up call to McCain that there is something seriously wrong in his own home state and his position among his own voters is deteriorating about as fast as their own lives are.

This one time military hero might even now be considered AWOL by many his own voters. When the financial crisis began to ruin many of the voters in Arizona. McCain just couldn't be found.

Earlier this week, President Obama made a speech in McCain's own Arizona setting up a framework to address this serious home foreclosure crisis because this situation is the most serious in this state than any in the nation. But it was John McCain who was supposed to look out for the best interests of his own voters, but did not. McCain also didn't look for the best interests of his own voters when was a leading figure in the Lincoln Savings & Loan Scandal either.

McCain has been very busy sending out re-election campaign Emails this past week as he kicked off his 2010 senate re-election campaign. But McCain has really forgotten one important factor. He stopped listening to his voters a long time ago, and has only coasted to re-election based on his past war hero image. Maybe that's why even McCain expects his 2010 re-election to be one of the toughest campaigns that he has ever faced.


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Comments (4)

Allen:

McCain said, "I think this can only be described as generational theft." (McCain constructed his own stimulus package which was about half the size of the roughly $800 billion proposed stimulus and consisted mostly of tax cuts.) Now his hand's out to the ones he called thieves. They would try to take credit for a bill that they voted against. How hypocritical can they get? Some people never fail to amaze me.

Hey didn't the Rethugs say they were barred from the discussion? How in the hell did Kit Bond get an amendment added to a bill that he didn't have any part of? "The worst bill ever...generational theft...uhh what? Yeah you're right, that is a ton of jobs. Hey look what a good job I'm doing for you folks back home. If this bill helps the country out, vote for me. If it doesn't remember that I voted against it." Pick-a-repub.

Americans put up $700 billion to bail out those bankers last fall. But the Republicants don't talk about that when they say, as Republicant Congressman Jerry Lewis of California did on Friday, that the American Recovery and Reinvestment Act of 2009 is a recipe for bloated government programs that will saddle taxpayers with debt "well, well into the future." "Facts are stubborn things," Mr. Lewis said. Fact is, Mr. Lewis voted to leave Americans indebted for $700 billion to bail out banks. So, clearly, spending American taxpayers' money is not a problem for him. Spending it on taxpayers is.

ke_future:

i challenge everyone at WizbangBlue to go to
http://money.cnn.com/news/storysupplement/economy/bank_failures/index.htm

click on the foreclosures tab, and then explain to me how it's the republican's fault for the mrotgage crises.

Hugh Jassle:

"While one in 466 homes nationally is currently in foreclosure, in McCain's own Arizona the rate is actually one out of every sixteen homes in some parts of his own state."

In some parts of my neighborhood, the foreclosure rate is one out of every one homes. Cherry picking the areas can always distort the results favorably... while AZ is not in the greatest of shape, please report responsibly.

Florida, California, Michigan (Detroit metro), Arizona (Phoenix metro) and New Mexico (Las Vegas metro) currently have the highest foreclosure rates in the nation. Coincidentally, these were also the areas that experienced the most irrational jumps in real estate prices during the last ten years. If you can find any attempts by Democrat congresspeople from those areas to stop the upward spiral of housing values, I'd love to see it.

The top ten foreclosure cities in 2008 were:

CA STOCKTON
NV LAS VEGAS/PARADISE
CA RIVERSIDE/SAN BERNARDINO
CA BAKERSFIELD
AZ PHOENIX/MESA
FL FORT LAUDERDALE
FL ORLANDO
FL MIAMI
CA SACRAMENTO
MI DETROIT/LIVONIA/DEARBORN

You'll notice that the top four cities are in California (Barbara Boxer and Diane Feinstein) and Nevada (Harry Reid, Senate majority leader). How would you explain that, Paul?


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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