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- Does anyone know when they will start to consider the second mortgage as part of the housing debt ratio for this program?
- To paraphrase the Onion, Americans now clamor for a new bubble to invest in. Once that occurs, we can be sure to see the same cast of characters, no doubt.
- January 5 2009; I and my wife have been taken in by this company to for $1500.00. We had several phone conversations with them explaining how they was dealing with our financial problem.All false ,...
- I agree with the basic premise of the article. There's been caution all across the board. Even consumers who are still employed don't want to spend, and that means they don't want to...
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HUD Expands Making Home Affordable Eligibility started by morganb
On July 1, 2009, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced an expansion of the Making Home Affordable Refinance Program to include borrowers who are current but up to 125 percent underwater on their mortgage. The announcement was made while the Secretary tour
Is Trust Returning to the Mortgage Industry? started by morganb
“The economy is based on trust,” said Dean Johnson, associate professor of finance at Michigan Technological University in Houghton, Michigan.
In situations like the recent housing bubble, or even the stock market collapse of 1929, where markets were driven by deb
In situations like the recent housing bubble, or even the stock market collapse of 1929, where markets were driven by deb
Recovery? Mortgage apps down, prime delinquencies up started by morganb
Today is the day the recovery starts, at least according to those peering into the rosiest-colored crystal balls. The Wall Street Journal dug up these great examples:
Most forecasters seem to expect growth to be weak for a few quarters, but then rebound back to trend in the second half of 20
Most forecasters seem to expect growth to be weak for a few quarters, but then rebound back to trend in the second half of 20
New Report Links Foreclosures and Homelessness started by morganb
“Local reports indicate that homelessness is on the rise and this report [Foreclosure to Homelessness] gives us insight into the role that foreclosures may be having on that increase,” said Nan Roman, president of the National Alliance to End Homelessness.
The Foreclosure t
The Foreclosure t
Subprime Bananas started by morganb
A great post from Homegrown Evolution on one of the surprising benefits of the housing meltdown: fresh fruit. That’s right. The blog thanks Mr. Mozilo for creating our very own ‘Banana Republic’ as rundown homes and unmanned irrigation systems create the perfe
Why is Citigroup still in business? started by morganb
It’s been quite a week for Citi.
Tuesday it walked into a feces storm of its own making by announcing it would raise salaries by 50% to offset cuts in bonuses.
To be fair to Citi, they are taking (well-deserved) crap for the entire industry on the salary issue. BofA, Mor
Tuesday it walked into a feces storm of its own making by announcing it would raise salaries by 50% to offset cuts in bonuses.
To be fair to Citi, they are taking (well-deserved) crap for the entire industry on the salary issue. BofA, Mor
Why is Citi still in business? started by morganb
Great quote from an analyst: “It is better to pull people off the line, and have a thorough re- education of what goes into a loan, so they can come back and do this the right way.” Which I take to mean that these people have either forgotten or never knew what was involved in
41 Charged as Mortgage Fraud Hits Condos & Suburbs started by morganb
Federal law enforcement officials recently announced charges have brought against 41 defendants in five separate cases in Chicago. The cases involve more than $48 million in fraudulently obtained mortgages for dilapidated homes in urban areas as well as deals involving million dollar condominiums
Roubini: No confidence in government exit strategy started by morganb
In this Bloomberg segment Dr. Nouriel Roubini shares his thoughts on why pundits proclaiming the stabilization of the housing market are wrong and why the current policy path is unsustainable and likely to have a messy exit. My favorite part? The idea of our debt ballooning from 40% GDP to 80%
Goldman bonuses largest in firm’s 140-year history started by morganb
The Guardian is reporting that Goldman Sachs staff can expect the largest bonuses in the firm’s 140 year history as the investment bank has leveraged (pun intended) dwindling competition and the brokering of US debt issuances to massive first quarter profits. The bank, on trac
No “green shoots” in employment started by morganb
Unemployment rose in nearly every state in the nation in May, with many reaching record unemployment levels not seen since 1976. So much for green shoots. If 70% of our economy is driven by consumer spending, and more and more consumers are out of work, how exactly are we coming out of
Roubini: Obama banking reforms get it 75% right started by morganb
Nouriel Roubini thinks that the new Obama banking reform plan gets it 75% right. This in a video interview on Yahoo! Finance. His one caveat is that the previous Fed under Greenspan had all the power, but didn’t care about managing risk, they wanted innovation at any
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