HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... the housing boom. But when these markets began to weaken, bad loans depressed the value of neighboring [more...]

Date: 2009-01-06 13:19:54

Blog posts (145) | Videos (93)
 

The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down ... t effectively manage its pipeline of locked and in-process loans. Of note, Credit Suisse recently shut down ... because NMN is subscription - sorry: “As the refinancing boom gathers steam selected residential [more...]

Date: 2009-01-16 18:23:12

No Credit Check Loans – No Bank Account Loan for You

No credit check loans are often hard to get but not impossible to obtain.  Having no bank account and poor credit can greatly hinder your chance of getting a low interest rate or even getting a loan at all.  Many banks and financial institutions will immediately disqualify you if you do not have a bank account and you are a very bad credit borrower; this does not mean that there is no assistance out there. [more...]

Date: 2009-09-28 19:58:06

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

So Why Do We Want To Bail Out This Homeowner Again?

I was reading through some blog posts this morning and came across one on housingdoom.com that just reaffirms my anti-bailout position ... THE COURT WANTS THE KEYS, SO I AM RENTING OUT THIS HOUSE WITH NO CREDIT CHECK AND ON A MONTH TO MONTH ... to pay his mortgage, and is planning to take full advantage of the system for as long [more...]

Date: 2008-12-16 22:06:54

Refinancing When You Owe More Than The Home Is Worth

I've been looking around for an answer to this but my searches haven't returned anything useful ... ? Was all the refinance hype only because the markets kept going up? Is this the reason why people who got an bad loan ... to the utter limit for 100% financing could refinance into more favorable loans as their equity picture [more...]

Date: 2009-01-08 09:54:12

Guest Post: Time to Recapitalize Banks Fully

As debate continues over the release of the second half of the Treasury Department’s Troubled Asset Relief Program, ... recapitalizations using government money on October 13th, but largely by massive credit lines from the Federal ... in the payments system (in which letters of credit and the willingness to take counterparty risk [more...]

Date: 2009-01-15 11:47:00

Poor Credit Loans – Bank Loans at Low Interest Rates

Poor credit loans are something many Americans are seeking because they not only need money to make ends meet but their credit score has also dropped.  Many of these borrowers want to know if there are bank loans with low interest rates available to poor credit borrowers.  Unfortunately many credit lenders have tightened their lending practices due to the credit crisis. [more...]

Date: 2009-09-28 19:03:19

Those Order Takers Are Now Gone In California

The Ventura County Star reports from California. “According to Bill Watkins, executive director of the UC Santa Barbara Economic Forecast Project…a foreclosed home in California sells for $200,000 less than a traditional home. Until foreclosures are worked through the market, ‘we don’t think the real estate market can clean itself up, [more...]

Date: 2008-12-27 18:47:48

Lending Woes: A Deeper Consumer Analysis

This may seem like an odd analogy, but I remember this story about my Mom when she was having her 7th baby ... for the Subprime Crisis.   Subprime loans did not come into being in late 2003.  2003 is the year more people ... You can’t get a good loan, but we can find you a BAD loan, if that’s what you want.”  Most people said [more...]

Date: 2008-12-29 21:19:46

Subprime Defaults Are Just The Beginning

If you thought we were almost done with the collapse of the mortgage market, you are sadly mistaken. Last night 60 minutes did a piece about the looming wave of mortgage defaults, Alt-A and option ARMs. While, as Scott Wilson outlines below in his guest post on Your Mortgage or Your Life, 60 minutes did not do a fabulous job on this story, [more...]

Date: 2008-12-15 23:37:29

WSJ: "Housing Push for Hispanics Spawns Wave of Foreclosures"

From the Wall Street Journal:"Housing Push for Hispanics Spawns Wave of Foreclosures"By SUSAN SCHMIDT and MAURICE TAMMANCalifornia Rep ... with loans that often didn't require down payments, solid credit ratings or documentation of employment ... all congressional districts in percentage of home loans not tailored for prime borrowers. The caucus [more...]

Date: 2009-01-05 04:10:00

Wolf Versus Pettis on US Stimulus, Fiscal Deficit (Not for the Fainthearted)

Martin Wolf has a very good comment in the Financial Times, "Why Obama’s plan is still inadequate and incomplete," which readers might tempted to ignore, since the headline suggests the piece reaches a conventional conclusion: the Obama stimulus plan is too small. That would be a mistake. The Wolf article (as others have done) [more...]

Date: 2009-01-14 15:43:00

The Great American Ponzi Scheme

Give us Madoff! Give us Madoff!  “Oil rises to $39 on Bernanke comments…”  “Asian stocks rise after Bernanke remarks…” When they turned out the ... say to bring about the turnaround? We find the report on the front page of the International Herald ... and the normalization of credit markets,” said the main man at the Fed, speaking to an audience at the [more...]

Date: 2009-01-14 17:00:26

Guest Post: Obama Plan Is Bold, but Not Bold Enough

As details emerge about the incoming Obama administration’s stimulus plans, Peter Boone and Simon Johnson argue that proposals should be even bolder. Boone is chairman of Effective Intervention, a U.K.-based charity, and a research associate at the Centre for Economic Performance, London School of Economics, [more...]

Date: 2009-01-07 09:09:48

The Woes of Fannie and Freddie

Freddie Mac and Fannie Mae are to America’s great empire what the East India Company was to the British Empire in the 19th century…and the Louisiana ... government-chartered mortgage lenders. In 18th century France, speculators bet on the riches ... is that the mortgage lenders are running out of money. They need to raise $75 billion. A few years ago [more...]

Date: 2008-12-29 21:30:26

Will 2009 be a better year?

There is little doubt that this year has been extremely challenging financially, ... to get, and the credit crunch put an end to the days of easy credit, with lenders becoming far more stringent ... to deal with lack of finance and credit, particularly in the mortgage sector, and plummeting house prices [more...]

Date: 2009-01-16 07:00:07

?Home Foreclosures: More Than Just Bad Budgeting

by William Blake For the past several years, the number of home foreclosures has been steadily increasing and it seems that there is little chance for the situation to improve itself. The people who are affected by home foreclosures ... to be individuals who have had some bad experiences financially or who have been taken advantage [more...]

Date: 2009-01-16 10:05:19

One More Time: It Wasn't the CRA

James Kwak has had enough of people trying to blame the financial crisis on government attempts to help poor people through the Community ... this up. ... At its core, the argument is that the government forced lenders to make bad loans in one market, so they went and decided to make bad loans in other markets. Even conceding [more...]

Date: 2008-12-16 18:17:51

THE TOUGH TIMES COMETH

It's pretty clear that Chatham, like other cities and towns in Massachusetts and across the country, ... and triggered the worldwide credit freeze. As a result, securities markets tanked and hundreds of billions ... to those with questionable credit. Indeed, President-Elect Obama himself had a hand in that: In the early [more...]

Date: 2009-01-17 13:51:41

Regulators Toughen Negative Amortization Loans?

(This was originally published December 13, 2005. I'm reprinting it because it shows how utterly predictable the housing meltdown was) ... about all the bad stuff. Furthermore, the real rate on these loans is variable from day ... ;/sarcasm>). Read the contract. The attraction of negative amortization loans has nothing [more...]

Date: 2008-12-24 14:52:05

Mortgage: 3 Tips On Finding The Cheapest Rates

There are a lot of things to do when looking to buy a home but the most important is to get the most interesting mortgage loan rates available on the market. When applying for a loan, having a high credit score allows you to have a number ... one. Important: in some countries there are only established only two kinds of credit score: the good [more...]

Date: 2009-01-17 12:34:42

Credit Crisis Watch: Gaining Positive Traction

In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, ... in this “Credit Crisis Watch” review, one can ascertain to what extent the various central bank liquidity ... of the credit crisis in August 2007. 14-jan-1.jpg Source: StockCharts.com Importantly [more...]

Date: 2009-01-14 11:35:53

Credit Crisis Watch: Gaining Positive Traction

In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, ... in this “Credit Crisis Watch” review, one can ascertain to what extent the various central bank liquidity ... of the credit crisis in August 2007. 14-jan-1.jpg Source: StockCharts.com Importantly [more...]

Date: 2009-01-14 13:30:49

NYT: Blaming Bush for the Wrong Things

The Sunday New York Times has a front page article more or less blaming Bush for the housing and credit crisis ... could police themselves, and that all regulation was inherently bad. This philosophy colored ... that leads to the conclusion that really bad behavior in the corporate world needs no proscribing is where [more...]

Date: 2008-12-21 14:39:10

Economic Diffusion Works

Get out of your feed reader and comment on this post- we PROMISE that the ShamWow guy won\'t pop out when you do.. ... or limited credit. Fannie Mae and Freddie Mac maintained the bulk of the rest of the mortgage market. A borrower needed good credit and at least a 3%-5% down payment (or equity) to secure a mortgage [more...]

Date: 2008-12-14 16:16:41

Is there Good Debt?

by Michael Geoffrey Some people think that all debt is bad. But that is not the case. There is some debt that is actually good ... . The overwhelming majority of credit card purchases are things that lose value. Another bad debt is borrowing ... with the potential for a greater return in the long run. The money you spend is gone. * Credit card debt [more...]

Date: 2009-01-17 09:19:02

The deregulation and free markets myth

Walter E. Williams destroys the liberal's claim that deregulation and free markets caused the financial meltdown: News media people, ... from the Clinton administration to expand mortgage loans among low and moderate income people. … ... my question: What are we to make of congressmen, talking heads and news media people who tell [more...]

Date: 2009-01-15 13:28:18

Bad Credit Unsecured Personal Loans – Credit Score Repair Helps

Bad credit unsecured personal loans can greatly assist you in making ends meet financially.  The one thing that most borrowers worry about when it comes to personal loans is the interest rate.  To lower your interest rate credit score repair greatly helps.  It is very surprising how many borrowers attempt to get a personal loan without even knowing their credit score. [more...]

Date: 2009-09-29 22:33:44

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year By Dan LevyJan. 15 (Bloomberg) — U.S ... of California, Berkeley, said in an interview. “The single most important thing is making credit available ... Asset Relief Program to help reduce mortgage payments for people facing foreclosure, Lawrence Summers [more...]

Date: 2009-01-15 16:45:20

“We can put light where there’s darkness, and hope where there’s despondency in this country ... S. Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets ... easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains [more...]

Date: 2008-12-21 16:01:46

Build your dream home

Are you planning to build your own dream home? If yes, this post will really help you to start up with that plans. One big problem many people face is getting home loans because lenders look at the credit history ... about a website that is providing home loans for bad creditors. badcreditloanshop.com is easily the best [more...]

Date: 2009-01-16 01:47:44

Homeowner Loans for Everyone

A homeowner loan is a loan that is given against the security of a house. Your house acts as collateral when you take out a homeowner loan ... is replacing high rate unsecured loans and credit card bills with a low rate secured loan. Therefore ... when you are suffering from a bad credit history. Lenders charge very high rates of interest on bad credit [more...]

Date: 2009-01-16 23:02:29

RICHARD VAGUE: How to Fix the Economy

This is a guest post for The Washington Note by businessman and regular TWN reader Richard Vague ... institutions were operating with far too much leverage (the ratio of loans against the capital a lender is required to maintain) which allowed assets such as subprime loans to be overbought [more...]

Date: 2008-12-24 19:45:27

Student Loan Consolidation May Be The Answer To Your Debt Burden

Student loan consolidation may be the answer to your heavy debt burden and the many issues that come with having to make several loan payments every month. Student loans just like the other forms of financial aid are a service that is subject ... dropping below half-time enrollment. With this, the loans remain delinquent for 270 days or become [more...]

Date: 2009-01-17 09:03:38

Making Sense of Mortgages

Making Sense of Mortgages Posted by Dark Spider at January 17, 2009 Understanding mortgages is no easy task ... ?s market there is a loan for every type of situation. Short term, long term, good credit, bad credit, no matter. Just about anyone can find financing for their mortgage needs today. Keep in mind [more...]

Date: 2009-01-17 12:08:38

How and Why a Poor Credit Mortgage UK?

Poor credit mortgage UK is the example of the changed attitude of the lenders in UK. Previously poor credit was regarded as something risky ... to do so in future. But now due to the change in socio-economic condition of man bad credit is no longer ... and successfully coming out also. That is the reason why lenders do not hesitate to offer poor credit [more...]

Date: 2009-01-17 01:58:22

Fixed Mortgage Rate

Fixed Mortgage Rate January 17th, 2009 Subscribe To Our Feed Mortgage Loan Video Many people who are looking to buy a home consider ... a mortgage hanging around their neck forever but with home buyers entering the market later ... to be true. Loans agreed with a 15 year fixed mortgage keep the same interest rate throughout [more...]

Date: 2009-01-17 17:30:19

U.S. ‘Bad Bank’ Plan Gets Momentum to Revive Lending (Update2)

By Robert Schmidt and Craig Torres Jan. 16 (Bloomberg) -- Renewed questions about U.S. banks’ viability are pushing regulators toward a new plan that would remove toxic assets from bank balance sheets, in what may become the biggest effort yet to unfreeze lending [more...]

Date: 2009-01-16 11:55:00

New Congress Looks To Add Mortgage Debt To Bankruptcies - BIG MISTAKE

Congress So we have finally flushed most of the bad debt out of our system in 2008. The bad lenders are disappearing and lenders are feeling good about making new loans. The only ... out of it. The legislation would change allow bankruptcy judges to modify home loans in the same way that they currently may [more...]

Date: 2009-01-06 14:51:56

No Credit Mortgage – Bad Credit Mortgage Rates Drop?

Bad credit mortgages are becoming more and more common in the United States as mortgage rates drop.  As the unemployment rate rises many bad credit and no credit borrowers want to get a low mortgage rate.  Unfortunately mortgage lenders are much more strict with their lending practices since the credit crisis began.  Many mortgage lenders have seen their competitors close their doors because of bad lending practices. [more...]

Date: 2009-09-29 20:53:09

What The Rise And Fall In Housing Has Done

The Ventura County Star reports from California. “Thousands of Ventura County residents were pushed out of their homes last year, ... a year ago because they see the price slide continuing and ‘want to get out before it’s really bad,’ ... with programs from some of the major lenders and loan [more...]

Date: 2009-01-15 18:16:59

Rough going ahead

“Over the next 12 months, markets could experience sharp volatility swings ... money we do not have and not producing enough to pay back the credit,” says Yones. “It’s like luxury-living on credit cards, at some point the lenders want their money back. Not to forget that in a new [more...]

Date: 2009-01-14 19:19:52

Debt Management : To Manage Your All Debts

No doubt, debt effect sometime becomes very awful. It can increase your debt burden, affect your monthly budget and so on ... can be able to eliminate 100% of their credit card debts. Many agencies provide debt elimination services ... mortgage, remortgage, credit cards, home equity and through debt settlement. •Debt negotiation: Debt [more...]

Date: 2009-01-17 07:57:21

Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus

Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans ... conditions, remember that credit cards can only guarantee 6-12 months of a low rate, and home equity loans [more...]

Date: 2008-12-14 14:30:58

Lost In A Sea Of Stark, Empty Houses And Vacant Lots

It’s Friday desk clearing time for this blogger. “Record numbers of Sonoma County homeowners are seeing property taxes fall, ... have been a little hard to swallow.’” “Bob DeKeulenaere says junk cars in his neighbor’s yard prevented [more...]

Date: 2009-01-02 17:57:28

Obama to the Rescue!

Word on the Street President-elect Barack Obama is going to back a bank-rescue ... avoid foreclosure. The money may also go to help cities and states with “credit issues” … pun ... are advocating a government-backed “bad” or “aggregator” bank to acquire hundreds of billions [more...]

Date: 2009-01-18 02:53:39

Qualifying For a Used Car Loan

A used car loan is given to those who wish to purchase a car that has had a previous owner. The car may be purchased from the owner or used car lot ... will be lower. This can help a person keep their car. For those with bad credit, a used car loan ... credit report, although there are lenders who are willing to grant loans to those who have filed [more...]

Date: 2009-01-17 09:34:44

Good Bank, Bad Bank: The Rich Win Again

So let’s see if I understand this brilliant brain fart correctly…Citigroup (C) and Bank of America (BAC) ... in the “Bad Bank”. Taxpayers would own the bad bank.Translation: People with money, so the wealthier ... reported earnings so dismal it gave momentum to the whole “Bad Bank” plan. The plan would split [more...]

Date: 2009-01-16 13:40:00

Personal Loans For People With Bad Credit

by Trinity Davidson If you need to send a child to college, remodel your house, ... loans in the amounts ranging from $3,000 to $250,000. They may require you to offer evidence ... to provide a copy of your drivers license and social security card. They will also want to see your W2 [more...]

Date: 2009-01-17 17:47:04

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