Apr - 20th
Bank of America CEO: “Credit is bad and it is going to get worse”
Posted at 1:54 pm | Filed Under Bailout News, The Economy, Real Estate
That’s what Ken Lewis, CEO of Bank of America said:
“Credit is bad and we believe credit is going to get worse before it will eventually stabilize and improve.” Lewis said during a conference call with analysts, noting that the bank continues to face challenges. “Whether that turn is later this year or in the first […]
Apr - 16th
Increase in Foreclosures accelerates in the first quarter of 2009
Posted at 1:01 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, Real Estate
We have been warning buyers that after the moratorium in foreclosures imposed by several states expires, there will be a massive increase in foreclosures. Well, this is already happening. According to RealtyTrac:
“In the month of March we saw a record level of foreclosure activity — the number of households that received a foreclosure filing was […]
Apr - 16th
Bailouts are not that easy to get
Posted at 11:26 am | Filed Under Bailout News, The Economy, Real Estate
Embedded video from <a href=”http://www.cnn.com/video”>CNN Video</a>
With everybody who bought more house than they could afford desperately trying to get a bailout from US, the taxpayers, more and more people realize that banks are not that willing to make life easier for those in danger of losing their homes.
CNN has the following article about the subject:
Cavallari, […]
Apr - 12th
HUD is helping investors instead of poor people
Posted at 12:30 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
I found this interesting article on the LA Times:
The federal program sets out to help poor families buy homes. Instead, housing contractors and investors are reaping the benefits, records show.
A Times investigation has found that the Dollar Homes program has helped housing contractors and investors, but there is no evidence that it has provided any […]
Apr - 10th
The collapse of the U.S. economy - Debt Trap 6
Posted at 7:43 am | Filed Under Credit Crunch, Credit, Politics, Bailout News, The Economy, Real Estate
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Apr - 6th
The collapse of the U.S. economy - Debt Trap 5
Posted at 7:41 am | Filed Under Credit, Politics, Bailout News, The Economy, Real Estate
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Apr - 3rd
The collapse of the U.S. economy - Debt Trap 4
Posted at 7:40 am | Filed Under Credit Crunch, Credit, Politics, Bailout News, The Economy, Real Estate
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Apr - 1st
The U.S. is going into debt at an alarming - Debt Trap 3
Posted at 7:38 am | Filed Under Credit Crunch, Credit, Politics, Bailout News, The Economy, Real Estate
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Mar - 31st
Next shoe to drop: Defaults Rise on Home Mortgages Insured by FHA
Posted at 3:42 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This is what The Wall Street Journal reported:
Defaults on home mortgages insured by the Federal Housing Administration in February increased from a year earlier.
A spokesman for the FHA said 7.5% of FHA loans were “seriously delinquent” at the end of February, up from 6.2% a year earlier. Seriously delinquent includes loans that are 90 days […]
Mar - 29th
The United States is maxed out
Posted at 7:34 am | Filed Under Credit Crunch, Credit, Politics, Bailout News, The Economy, Real Estate
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