QUESTIONS THE MEDIA HASN'T DEALT WITH
What has happened to the residents who lost their mortgaged homes due to the Katrina Hurricane? That is - they presumably had no home to return to, but are they still making mortgage payments?
So they relocated to another town or another state, but are now renting or buying again? How long can they make two home payments if their place of employment was destroyed also?
What happened to the land their home was on? Has the mortgage company foreclosed on it? And for that matter, what has happened to the lenders on all this destroyed property? Are the banks, finance companies and mortgage companies solvent or have they gone under?
All I hear in the media is about rebuilding New Orleans, but no one has explained any of my above questions. What happens to the empty hospitals, the vacant office high-rises that are empty because the employees and business have had to relocate?
How can New Orleans be a Phoenix rising from the ashes of financial ruin?