Archive for 'bubble' Category
Every one of the facts stated here are verifiable from multiple sources and are NOT disputed. The only policy question that is relevant is WHETHER WE PUT PEOPLE OR BIG BUSINESS FIRST in our priorities. The rest is obvious. HERE ARE SOME EXAMPLES: 1. HEALTHCARE: (AT LEAST $1 TRILLION IN DIRECT AND HIDDEN FAT IN […]
Somehow, the housing trouble has to at least flatten out. As long as that is going on, I think the pressure on the credit system is going to persist. It is kind of the leading indicator. It is where the trouble started. We have to underpin the consumer. That is why this is different. […]
Bank earnings falling off, failures still a threat on the horizon. Even with the phoney accounting rules allowed by the SEC and the FASB, the reported earnings of most banks are taking major hits. Hidden below the surface of this bad news is more bad news as the rate of delinquencies, foreclosures, evictions, […]
Associated Press: Many states appear to be in recession as deficits grow. In a nutshell, states are not merely facing declining revenues. They are facing increasing costs from inflation and devaluation, decreased purchasing power, decreased cash reserves when they find out that what they had in “cash equivalents” were partially invested in collateralized mortgage obligations, decreased […]
Most of my experience is in judicial sale states where the foreclosure is a lawsuit started by the lender. In those cases, when you challenge the Lender or mortgage service provider on its authroity to bring the action and counterclaim on violations of Truth in Lending, fraud etc, you are the counterclaimant. In states where […]
I would give credit for the term “moral constipation” but I can’t remember where I heard it. I invite all who read this to give me the creator’s name so I can correct this blog and give him the attribution he deserves. It appears that we can all agree on one thing regardless of which […]
In our research, we have thus far come up with the following list of conspirators whom you might allege have mislead you with respect to signing for the loan you received. The Developer of the community for engaging in false and deceptive tactics to mislead not only the original buyers but subsequent buyers as well, […]
Mortgage Meltdown: Cat Writes: cat All good but why would I want to keep paying on a house that I owe $450,000 that is only worth $325,000 at best. From HUD RELEASES TIPS FOR AVOIDING FORECLOSURE, 2008/04/22 at 9:42 PM EDITOR’S RESPONSE: THERE ARE ONLY TWO REASONS YOU WOULD WANT TO HOLD ONTO THE HOUSE — MONEY […]
Here is a strategy for one person in California whose lenders are GMAC and Countrywide. He is about one week away from sale of his property. Feel free to use what suits you. Keep in mind that the hyper-inflated values used by the appraiser, lender, underwriter, and mortgage broker constitute a violation, in my […]
This CNN reporter makes some good points, although contrary to the philosophy expressed in this blog site. Our premise has been to stop the clock, freeze foreclosures and evictions and work out a plan that gives the occupant a chance to make payments, maintain the home, and reinstate the defaulted loans so that bank balance […]
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