May - 28th
Evicted turning to motels as last resort
Posted at 7:51 am | Filed Under Credit Crunch, Bailout News, California Housing Crash, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
May - 26th
No bottom in housing - Home prices will continue to fall
Posted at 1:37 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Excellent article on the San Francisco Chronicle web site.
On the demand side, the surge in joblessness, still-high home prices, the credit crunch and a dearth of move-up buyers cut into the pool of potential home buyers.
On the supply side, an assortment of factors seems poised to trigger new waves of foreclosures that will continue to […]
May - 19th
Even the Rich are suffering these days
Posted at 11:24 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
We have been saying this for a long time. Rich people are the last ones to suffer a recession but they are not immune to it. It has taken a little long but the rich are finally joining the rest of the country. According to the Wall Street Journal:
Fire-sale auctions of mansions, yachts, sports cars […]
May - 17th
What’s your American Dream?
Posted at 3:03 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
May - 13th
Fraud By Mortgage Companies Key Cause of Foreclosures
Posted at 12:46 am | Filed Under Bailout News, Credit Crunch, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Thanks MelodyofLove for providing this video
May - 12th
Here we go again - Freddie Mac needs another $6.1B
Posted at 9:39 pm | Filed Under Bailout News, The Economy, Real Estate
I found this on CNNMoney:
NEW YORK (CNNMoney.com) — Freddie Mac asked for another $6.1 billion in government aid Tuesday, after reporting a $9.9 billion quarterly loss.
Including the most recent request, Freddie Mac (FRE, Fortune 500) has drawn $51.7 billion of its $200 billion lifeline from the Treasury Department. Last quarter, when it reported a loss […]
May - 9th
Another Friday, another bank closed by the Federal Government
Posted at 9:55 am | Filed Under Politics, Bailout News, The Economy
According to CNBC:
NEW YORK - Federal regulators on Friday shut down Westsound Bank of Bremerton, Wash., making it the 33rd bank to fail this year.
The Federal Deposit Insurance Corp. seized the small bank and said its nine branches and nearly all of its deposits will be taken over by Kitsap Bank of Port Orchard, […]
May - 5th
Housing Market Collapse - Bank Demolishes New Model Homes
Posted at 8:56 pm | Filed Under Politics, Bailout News, California Housing Crash, Real Estate
Apr - 28th
Senator Feinstein’s husband gets lucrative contract from the government
Posted at 9:41 am | Filed Under Politics, Bailout News, California Housing Crash, The Economy, Real Estate
Watch this video where Glenn Beck and Bill O’Reilly talk about the very unusual case where Senator Dianne Feinstein husband gets awarded a contract from the FDIC to sell foreclosed homes.
Apr - 21st
Prime loans are defaulting at an alarming rate
Posted at 5:24 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Diana Olick makes some great points on her blog:
For the first time, this month the FHFA listed the top five reasons for default:
1. Curtailment of income (34.1 percent) …this can be salary reduction or self-employed losing clients
2. Excessive obligations (19.8 percent)…i.e. too much personal debt
3. Unemployment (8.1 percent)
4. Illness (6.5 percent)
5. Marital difficulties (3.5 percent) […]
