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October 25, 2016

Housing Bust 2? Subprime No-Down-Payment Mortgages Surge, “Shadow Banks” Dominate

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Housing Bust 2? Low- and No-Down-Payment Mortgages Surge, “Shadow Banks” Dominate   Some of the same characters that played leading roles last time. The value of the US housing market has ballooned to $26 trillion. In many markets, prices exceed even the peak or the prior bubble that blew up so spectacularly. This construct is …

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Payments Current? Here comes foreclosure!

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French bookkeeping: an old anecdote that reflects reality. Three sets of books. One for himself, one for his partner and one for the government. If permitted in discovery virtually every homeowner could easily show that there are multiple sets of accounting for “loan” payments, multiple sets of accounting for insurance and multiple sets of accounting …

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