No Shame Crowd Deserves the Gulag

Good Evening: The news flow that affected our capital markets today actually started last night when Fed Ex and Texas Instruments posted negative ... , pending home sales declined, and the auto bailout hit a snag, all of which combined to hit stock prices ... -announcements by so many tech companies. Perhaps investors are trying to rationalize that the “bad [more...]

Date: 2008-12-10 02:00:12

Blog posts (461) | Videos (120)
 

Home Ownership Is Not a Dirty Word

At Economist’s View, Mark Thoma brings up a subject no one seems to want to talk about anymore - helping people with modest incomes buy homes ... , caused the subprime mortgage meltdown. They contend government regulations forced lenders to make bad loans to low-income borrowers. Thoma quickly dismisses this. Instead, he raises an important [more...]

Date: 2008-10-24 13:19:55

Need a Payday Loan? Important Tips are Here!

Do you looking for a same day payday loan? The financial help through a no fax payday loan will be a best option for you. Getting a loan on the same day of application is not that complicated because of the increase in payday loans available today. This will help you to manage your unexpected expenses without any delay. You don’t have to waste your time on faxing documents and proofs. If you are not getting approved by one lender, don’t be panic. You can try with other lenders. [more...]

Date: 2009-09-29 18:16:13

Preparing for the coming year

I was shocked to see a Labor Party politician on the TV news yesterday say that now we've had our retail therapy over Christmas (his words, not mine) ... who will be effected or how bad it will get.I wrote yesterday that your priorities are to keep your home, feed ... shoes you like went in and out of fashion without you buying them. When it comes down [more...]

Date: 2008-12-30 18:57:00

Steven Denlinger: Of Wannabe Sith Lords and Maverick Politicians

A friend recently sent me an email that expressed his frustration with the bailout plan: "I was talking with a businessman on Sunday (Ventura way) ... to tighten credit at the exact time they should have loosened it. You'd think the House Republicans ... ? Back then, President Hoover stuck to his guns. He believed that government intervention is bad. [more...]

Date: 2008-10-01 06:13:37

If You Have A Debt Problem, Then Admit It!

You Can’t Solve A Debt Problem If You Deny Its Existence.  If you have a major debt problem and want to end it, then go look at yourself in a mirror and say, "I have a huge debt problem, it’s suffocating me, and it’s taking away my freedom", or whatever words feel right to you. If it felt real and you shuddered, then you’re most likely ready to start getting out of debt, but if you think that having overwhelming debts is: a) no big deal,b) something that everybody has right now,c) something [more...]

Date: 2009-09-30 20:42:18

List ‘em Right, Dog!

Welcome to get our of your feedreader weekend! Photo Credit It’s a Dog Eat Dog World Out There I had a buyer in town for the last three days ... someone in to buying this junk? Your Listings Reflect Your Brand - Are They Saying ‘Woof’ ... and un-prompted - is really worth mulling over. After a couple of bad showings in a row that happened [more...]

Date: 2008-10-06 18:11:37

Pretending To Fly In California

The Press Democrat reports from California. “The collapse of the housing bubble continues to reverberate through Sonoma County, according to a report issued Tuesday. Just over half of the homes sold in August were dumped by desperate owners trying to avoid foreclosure or by banks that seized them from borrowers who fell behind on their mortgages [more...]

Date: 2008-09-17 19:31:08

On Black Friday, Cash Is King

Analysts are keeping a close eye on Black Friday results for hints of just how good - or bad - the holiday shopping season will be ... , or are many simply staying home? Are most shoppers going online rather than hopping from store to store ... credit grew by leaps and bounds over the last couple decades, with nearly uninterrupted growth [more...]

Date: 2008-11-28 14:59:37

Pernicious Nonsense

(updated below) The emerging right wing narrative about how our country came to be embroiled in the current economic crisis is not only completely ... Reinvestment Act, they punished banks that didn't make enough loans to people who do not have the credit ... risky loans. Moreover, the law only applies to banks and thrifts. As Tim Westrich points out: W [more...]

Date: 2008-10-02 22:03:39

Trouble for Barney and Friends

I’ve got many criticisms from Leftblogosphere because I continue to criticize the lending and borrowing practices that have left Fannie and Freddie ... in the 1980s.  I do think it is completely bad banking as well as unfair to everyone involved to place people in mortgages that they cannot possibly pay.  I’ve always supported special bond financing [more...]

Date: 2008-12-09 17:20:09

How Wall Street’s Scam Artists Turned Home Mortgages Into Economic WMDs

By Joshua Holland, AlterNet. Posted October 18, 2008. The titans of high finance are trying desperately to shift blame for the crisis onto others, but this dead cat lies squarely on their doorstep.   If the ABCs of the financial meltdown leave your head spinning — if “default swaps” and “collateralized debt obligations” and “high-rated [more...]

Date: 2008-10-18 23:12:49

The Past Is History

It’s Friday desk clearing time for this blogger. “Since she put her Norfolk rental home on the market four months ago, ... against their home equity through subprime loans will find it virtually impossible to refinance ... , now their loans are adjusted and they can’t make the payments,’ said Daniel Murphy, owner of Seaside Mortgage Co [more...]

Date: 2008-10-10 20:55:09

The Challenge Is Prices Got Stupid

The Daily Astorian reports from Oregon. “An increasing number of homeowners in Clatsop County are falling behind on their mortgage payments and ... Joe Schulte, VP of Compass Community Bank in Seaside, said subprime loan programs were available ... as the loan criteria change each day. ‘Loan officers have to be ahead of the curve,’ he said. ‘There’ [more...]

Date: 2008-10-07 17:26:52

Lala Land

Blink and you may miss another government bail-out, loan guarantee, federal plan to alleviate a bad or unwise mortgage, a suggestion for more government funds for a more aggrieved constituency, or credit-card relief ... that there were no Americans who chose to rent until they could pay a suitable sum as a down payment, or bought [more...]

Date: 2008-12-16 00:47:41

Bad Credit Mortgage Refinance – Bank Mortgage Rates Dropping?

Getting a bad credit mortgage refinance is something that many Americans are trying to do in the current economic environment.  Many banks are advertising mortgage rates that are very close to historic lows.  It is hard to do any home or mortgage search without seeing ads that show mortgage rates well below 5%.  If you are a bad credit borrower it is unlikely that you will have access to these rates but you can still benefit by refinancing. [more...]

Date: 2009-09-29 14:21:48

Prisoners In Our Own Homes

The Globe & Mail reports from Canada. “For the throngs wandering through open houses this weekend, it may feel as though they fell through the looking glass while they were peering into closets. The downturn seems like a bad dream. Housing prices have rebounded, formerly gun-shy buyers are back on the market, and bidding wars abound. [more...]

Date: 2009-09-27 17:34:07

Down To Free In Florida

The News Press reports from Florida. “The Fort Myers/Cape Coral metropolitan area ranks third nationally in foreclosures, ... . Problems also arose when individuals who didn’t have the means to own a home took ill-advised ... Every waiter and waitress in town was buying a home.’” “Now, the backlog of homes for sale is 22 months [more...]

Date: 2008-11-11 15:16:46

Who Wins, Who Loses Under Proposed Bailout Plan?

WASHINGTON — The proposal to bail out U.S. financial markets to the tune of up to $700 billion creates a lot of potential short-term winners, ... winners, too, if the bailout works as intended: anyone soon trying to borrow money _ for cars, student loans, even to open new credit card accounts. Top executives at troubled financial institutions [more...]

Date: 2008-09-28 23:35:52

GMAC Auto Loans

11 of the best sites about GMAC auto loans. Know of another site that should be listed here? Leave your suggestion at the bottom of this page. (Related searches: Auto Loans ,  GMAC Smart Lease , GMAC Auto Insurance ) 1. GMAC Automotive Financing - Home page of GMAC financing for car loans, truck loans and leases, including information on their SmartBuy and SmartLease programs that allow you to get into a GM vehicle for a lower monthly payment. [more...]

Date: 2009-09-28 14:59:09

Where Any Sale Is A Prized Event

The Associated Press reports on Florida. “Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, ... $250,000 a year and had an impeccable credit history.” “Then he lost his job. Provost missed one $10,500 ... condominium market. Nearly 400 condo owners have defaulted on loans since the beginning of the year [more...]

Date: 2008-09-23 13:38:07

The Current Financial Crisis

You know, I’ve spent pretty much every waking minute for the last week trying to figure out what happened, why it happened, ... and Freddie were required by law, for entirely noble reasons, to make riskier home loans. The bad ... lots of cash, and couldn’t get it. this led to a “freeze up” of credit among banks, which [more...]

Date: 2008-09-25 22:45:54

Latest Pajamas Media Column (’Obama’s Race Against the Economy’) Is Up (UPDATES: Other Favorable Signs; Thoughts on NBER’s Recession Call)

It went up here yesterday. The sub-headline is: If a recovery begins too soon, a massive “stimulus” package might not be needed. Democrats consider that a bad thing. It will go up tomorrow morning at BizzyBlog (link won’ ... 19, 2008.  The Market Composite Index, a measure of mortgage loan application volume, was 1245.4 [more...]

Date: 2008-12-26 13:02:59

Gates of Vienna News Feed 11/12/2008

Some headlines to look at:“Muslim Killed Catholic Girl in Love With Flatmate”“London Fundraisers Linked to Stoning of 13-Year-Old”“Possibly Tens of Thousands of Somalis in the US Illegally”“New Anti-Christian Attack in Mosul, Two Sisters Killed”But then there’s this:“Denmark: Ready to Ban Headscarves for Judges”So it’s not all bad news.Thanks [more...]

Date: 2008-11-13 04:52:00

Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45

Mortgage Refinance – Tips and Ideas to Help You Apply For Mortgage

Mortgage refinance is one of the best ways to save money and increase savings. Doing your homework in terms of research will definitely help you to avoid the hidden cost and other expenditures. It not only lowers the monthly payment as the interest rate drops but also shortens the tenure of the loan period which is anytime beneficial to clear the debt as soon as possible. [more...]

Date: 2009-09-29 18:16:17

Six Simple Steps to Avoid Credit Problems in a Bad Economy

The New York Times ran a story today that says the next consumer crisis is credit cards — a sobering fact in a nation that has racked up massive amounts of credit card debt. Unfortunately, when times get hard, many people turn to credit cards ... this myself, buying things on credit when I had no other way to pay for them. I’m not talking about [more...]

Date: 2008-10-29 23:20:31

What Does it Mean to Be Rich?

I had lunch with my accountant the other day. Sabino is more than a financial advisor to me — foremost, he’s a close friend ... m setting aside money for retirement. I live in an 1800 square foot home on half an acre of land ... of myself as poor all of the time. The truth is, I live in a nicer home than my parents ever owned. I’ve [more...]

Date: 2008-10-14 12:00:55

Homeowners come up empty in bailout

For people facing foreclosure — and for the housing and community development groups trying to help them — there’s been little to ... loans didn’t make it in the final version. Nor did a proposal to set aside for affordable housing ... are to blame. It doesn’t get any better from there. The credit crisis is likely to make it even [more...]

Date: 2008-10-09 12:05:41

Lessons Learned From Losing a Quarter Million Dollars

About the author: This guest article is presented by Debtkid, who recently begun working part-time for LendingClub ... that day, I made over $15,000 in a few hours with my laptop. I was 22 years old. Too bad I was already ... first with stocks, then options, then currencies. I gained access to capital from credit cards, personal [more...]

Date: 2008-11-26 12:30:53

savings accounts in problem banks. Gen X Finance asks if you got suckered into a fake gas price hike from hurricane Ike ... Posts:A Credit Card Survey, Passive Income, Car Payments @ The Carnival Money Articles To Make ... 29. Rich Credit Debt Loan suggests ways to undo the results of financial trauma. Money Ning [more...]

Date: 2008-09-16 16:36:41

AEI Subprime IV.3: Roubini Presentation

Here is Housing Doom’s third installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar " ... in terms of output contraction are not going to be as bad as the Great Depression because ... there much more generalized asset bubble and credit bubble in the economy. It was subprime, it was near [more...]

Date: 2008-11-17 07:01:46

What's it all about?

THIS morning, Hank Paulson spoke on the plans he's putting together, along with Ben Bernanke and Congressional leaders, ... and frozen credit markets unable to fund economic expansion... First, to provide critical additional funding ... the mortgage market. Second, to increase the availability of capital for new home loans, Treasury [more...]

Date: 2008-09-19 16:57:54

End of The Year Market Report for Charlottesville Region

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content ... ‘em … wait! yes he does , Auto Bailouts, Investment Banking Bailouts, Credit Card companies ... - - Interest rates are ridiculously low, and loans are absolutely still available. - It is a Buyer’ [more...]

Date: 2008-12-22 14:00:36

A Ph.D. In Loss

A report from Oregon Public Radio. “In the last several years high-end resort communities have sprung up across the West. But those destination resorts are suffering big time under the housing slump and credit crunch ... Boomers were looking for vacation homes. Getting credit was easy and there was a huge rush in real [more...]

Date: 2008-11-18 21:21:40

Making a list, checking it twice…

Ah, I do love making resolutions. I generally revise them on a monthly basis – goals are good! – but here's a snippet of what I'm plotting for 2009 ... some more friends who enjoy playing board games. 7. Part ways with the credit card, for good. Learn to love ... more, hold doors open for people more, offer up my seat on the subway more, make funny [more...]

Date: 2009-01-02 14:26:51

Talk is cheap, Nick… (Updated)

It might have made Aaron’s daily news round-up, but Nick Clegg’s comments in today’s Indy exemplify just about everything I find really irritating about opposition politicians… State intervention is needed in some areas. We need immediate action to stop unjustified repossessions of homes and business assets [more...]

Date: 2008-10-09 14:56:08

FHA chatter; News from MERS, Wells, Flagstar; Home price index not as bad as feared

  As my grandfather used to say, “If you find yourself in a hole, the first thing to do is stop digging.”* Apparently the folks at Sunwest Bank , out of Tustin, CA, felt the same way. Clients received a letter saying, “I regret to inform you that as of October 2, 2009, Sunwest Bank will be suspending its mortgage banking operations. [more...]

Date: 2009-09-29 19:04:07

Bailouts are supposed to help us - (heh!) why not cut out the middlemen (and their slices)?

I look at all of the billions (now trillions) of dollars being spent by our government supposedly to save us economically ... ) - this has to be one of the biggest give aways in history. Politicians heeding the call for limited government and limited spending ... that the bankrupt keep borrowing even more to give to others that have proven to be bad financ [more...]

Date: 2008-12-03 01:31:34

Who’s To Blame for Tech’s Woes? You and Me

The last time technology investments took a hit, it was easy to look around at the scattered sock puppets and dark fiber, ... t their wholehearted embrace of the web — it’s consumers’ wholehearted embrace of credit. That’s right, this tech ... debt, in the form of home equity loans and credit financing, which they’ve used to buy fancier cars [more...]

Date: 2008-10-31 04:01:17

2008: A Look Back at Being Frugal.net

It’s the last day of 2008.  Time to take stock of things.  What went right?  What went wrong?  What changes can I make next year to right the wrongs? ... . For the fun of it, we started browsing local real estate websites, looking at homes.  We came across a home ... more organization around here! Amidst the craziness of buying a house and moving, I [more...]

Date: 2008-12-31 12:00:30

Brian Wesbury on the Bailout Vote

When it comes to understanding the economy, it's always smart to find out what economist Brian Wesbury is thinking. Here's his reaction (PDF) ... by Treasury. Second, any immediate relief (if there was really any coming) to credit problems ... . President Bush said that that if the Treasury Plan was not passed very bad things could happen. He said, “ [more...]

Date: 2008-09-29 20:25:37

DrumBeat: October 11, 2008

GPS could save airlines billions in fuel costs CHICAGO - A World War II-era air traffic network that often forces planes to take longer, ... expensive — still makes sense because the cost of driving is almost as bad and driving takes longer ... crisis is not just some kind of bad dream, but the new reality. With globalization, it is clear [more...]

Date: 2008-10-11 13:14:59

Trailer Park: Simon Pegg and Robert Weide

By Christopher Stipp The Archives, Right Here I’m awesome. I wrote a book. It’s got little to do with movies. Download and read “Thank You, Goodnight” right HERE for free. Nerds worth their 8 sided die know who Simon Pegg is. From SPACED to SHAUN OF THE DEAD to HOT FUZZ to everything else the man has stick his pinkie in Simon brings his [more...]

Date: 2008-10-03 04:49:20

It’s Your Money

It was, anyway. Remember when you had some? Dow plummets on opening, Wall Street rout drags everyone else down. Look on the bright side ... the credit markets more quickly via capital infusions from the Paulson facility. And unlike the Paulson ... that the Treasury could receive some kind of equity kicker in the refinance. Thus a homeowner [more...]

Date: 2008-10-10 13:45:35

Monday: Bi-Partisan Bank Robbery?

I don’t pretend to understand Credit Derivative Swaps and financial ‘instruments’ and it looks like the people who have been playing with them for ... like the Home Owners Loan Corporation (HOLC) where the government would restructure and refinance bad mortgages from individual homeowners and make them affordable.  The theory goes that if those [more...]

Date: 2008-09-22 12:26:24

It’s Back To Reality In California

The Glendale News Press reports fromCalifornia. “Beset by a distressed economy and a soaring number of city inspections, the FourOneSix mixed-use condominium project on Broadway Avenue has pushed back its opening to January and will wait until its debut to push ahead with unit sales, officials said. Sales have been slow at the FourOneSix project [more...]

Date: 2008-10-06 19:59:29

Snoozer’s Jolt

The debate was a snooze that changed little. Except maybe one thing. McCain trotted out his proposal to have the government get in the corner of people with bad mortgages, and renegotiate to keep them in their houses. While the pointy-headed media types are working themselves into a lather over “that one, [more...]

Date: 2008-10-08 14:04:01

Credit Crunch Ski Holidays

By Edward Ockelton Beat the credit crunch by booking a ski holiday in Switzerland. Credit Crunch - Blah! I’m going skiing to Switzerland Considering a ski trip in these testing economic times is a difficult decision, but if you are like thousands of other winter holiday enthusiasts you won’t be letting a little thing like a world recession get in the way of you hitting the slopes this winter. [more...]

Date: 2009-09-27 09:02:28

100 Ways To Develop Your Mind

This weeks Sunday Siesta has been postponed as I have been working all weekend on this article.  It’s my longest article ever at over 4500 words but I think it was worth the time and the effort. I have been resisting doing this post for a while now. However, it kept niggling away at the back of my mind and I kept getting more and more ideas to add to it so here it is. [more...]

Date: 2009-09-27 18:36:02

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