Will Homeowners Owe More Than Their Homes Are Worth?

Published:September 25, 2009Posted in: Real EstateTags:affect of bad loans, future home values, home ownership, home values, upside down home ownersComments Email This PostDigg it!Facebook Image Credit: www.frontdoor.comThis is scary news.  According to Deutsche Bank, the percentage of homeowners they expect will owe more than their homes are worth by 2011 is going to be around 48%.  They’re basing this on their assessment that home prices are going to continue to decline across the country, [more...]

Date: 2009-09-25 23:01:05

Blog posts (157) | Videos (103)
 

In The News Today

Jim Sinclair’s Commentary As in the 70s central banks first slowed down their gold sales then turned into gold buyers. The Chinese are already on the buy side now. Gold is going to $1224, $1650 and then on to Alf’s numbers. UPDATE 1-German Bundesbank to keep lid on gold sales this year Fri Sep 25, 2009 1:10pm GMT FRANKFURT, Sept 25 (Reuters) – Germany’s Bundesbank will refrain from big gold sales in the first year ofa new central bank gold sales agreement, it said on Friday. [more...]

Date: 2009-09-25 18:31:20

Blocking, Tackling & Running: Leveraging a Crisis Into Real Change

There's a fairly well known cartoon of two scientists working out a problem on a chalkboard covered with complex equations and down in the circle is a little circle with the key step inserted in small print - "and then a miracle occurs". Wouldn't it be nice if we could take the same short-cut to fixing the horrendous shopping list of significant [more...]

Date: 2009-01-16 20:07:11

Why would anyone buy a home today?

From MarketWatch: Home buyers advised to look before they leap Fox-Pitt Kelton home-builder analyst Robert Stevenson said Wednesday he thinks this year will turn out to be “a bad time to buy a home” as the U.S. economy loses more jobs ... or no down payment and shaky credit scores are long gone. For buyers, the big fear is purchasing [more...]

Date: 2009-01-07 18:21:09

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

Hail To The Chief

(Explanatory Note: I was thinking about the upcoming Inauguration next week during the down times up in the Bull Run ... you’re listening, right?Let’s start with our country and how we’re doing at home What a fucking ... you, but TWO land wars in Asia and put it all on our credit card. Why y’all didn’t impeach that nimrod I’ll [more...]

Date: 2009-01-16 07:42:00

Writing Your Debt Collection Dispute Letter

This is the second guest post in a special How to Fight Debt Collectors series on Bargaineering.com. Writing a debt collection dispute letter is the first line of defense against a debt collector. Make them prove that the debt is legitimate before you do anything. Just because they have your name doesn’t mean the debt is legitimate. If you don’t remember it or you remember paying it off, a dispute letter can help you resolve it quickly. [more...]

Date: 2009-09-29 11:01:53

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

Top Three Sales Tactics Of The Cheap Double Glazing Door To Door Salesman

By Mark Farrell Dont be fooled by the cheap double glazing dooor to door salesman. read this article for the top tips on their sales techniques. Copyright (c) 2009 Mark Farrell The door to door double glazing salesman fortunately for the industry isnt as popular now a days since the introduction of the internet and even more intense competition.  The reason being is that the door to door salesman has always had a bad reputation for being a rip off merchant.  Im sure in a lot of [more...]

Date: 2009-09-27 04:01:22

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

The Poverty Business

Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]

Date: 2009-01-15 00:45:24

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

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

Jon Henley reports on the pitiful state of the British pension system

A hundred years ago next month, half a million eldery people popped down to their local post office and collected, for the very first time, a state pension. It wasn't a lot - five bob a week, about £20 now - and there were strings attached: you had to be one of the 5% then aged over 70, and enjoy a weekly income of less than 12 shillings [more...]

Date: 2008-12-19 08:22:25

No Taxation Without Inflation

While reading a short essay by Donald H. Grove, I was pleasantly surprised to learn of Michele Bachmann (R-Minn.) who “is a member of the House Financial Services Committee helping to hold the line against Chairman Barney Frank”, which automatically makes her one of my favorite people, [more...]

Date: 2009-01-15 18:40:26

Better Deals On Loans

Author : Melissa Kellett Whatever loan you may be looking for, there are some do's and dont's regarding the deal you close Secured or unsecured? Good or bad credit? Mortgage or personal? There is always an adequate loan for each situation, for each need and each taste Look into this concise but exact article that may enlighten you towards a good deal on a loan and a better ending at the end of the payment term Secured Or Unsecured? [more...]

Date: 2009-09-26 07:31:07

Thoughts for a Wednesday Morning

Gaza City, 14 January: An Israeli air force attack Photograph: Abid Katib/Getty ImagesComfortable ConspiraciesAs this new year dawned, this site was engaged in reporting the struggle of the people of Gaza against the ruthless invading army of Israel that was hell bent on wiping Gaza off the map with as little political blow-back as possible [more...]

Date: 2009-01-14 13:14:00

Markets won't Bottom until Banks Stabilize

It should be obvious to most investors that until the financial sector stabilizes and starts to post a meaningful rally, ... in other segments of credit, including revolving credit card and auto loans and now deteriorating ... . As I stated a few days ago, the market will probably not bottom until we see a combination of bad assets [more...]

Date: 2009-01-16 14:12:44

Okay NDP. Listen up: “Debt is the pariah in the new economic order”

There was a good article in Saturday’s Globe by industry player (read: not a lame reporter) Tom Bradley entitled “Debt is the pariah in the new economic order”. This is a reality that all Canadians, especially policy makers need to understand.Interest on debt, like distributions on income trusts is paid from pre tax cash flows [more...]

Date: 2009-01-14 16:01:00

Things You Tend Not To Spend Much Time Thinking Seriously About When Making A Decision To Relocate

I have had this item on my blogging to-do list for probably 18 months now, without attempting to address it ... s start with credit history, something discussed in this blog a long time ago. Or, rather, your lack of such overseas, which will hamper your efforts to obtain auto financing or even apply for local credit [more...]

Date: 2009-01-15 20:29:06

Government Housing Grants for the Disabled

September 24, 2009 | By Constance Nagaguchi In Finance | by Constance NagaguchiHave you been thinking of repairing your home or even buying a new house? Buying or repairing a home can cost a bundle of money which most people may not have. However, if you are a disabled veteran, you can apply for government help to offset some of these costs.A lot of people are unaware that housing grants for the disabled can help pay these costs. [more...]

Date: 2009-09-24 14:43:34

CyberPreneurship

For the previous short semester, besides the killing Computer Organization and Architecture and my major(Telecommunication) ... required 1 credit hour.Unlike the Melaka side which only need to submit business plan only, we Cyberjaya ... up a dessert "house" to sell dessert(what else can it be right?). We even created a blog for our so-called [more...]

Date: 2009-01-16 04:36:00

No Taxation Without Inflation

by The Mogambo Guru While reading a short essay by Donald H. Grove, I was pleasantly surprised to learn of Michele Bachmann (R-Minn.) who "is a member of the House Financial Services Committee helping to hold the line against Chairman Barney Frank", which automatically makes her one of my favorite people, [more...]

Date: 2009-01-14 22:19:52

Senate Steineger Addresses Address to AFP Summit

We received this email from State Senator Chris Steineger earlier today, and we wanted to share it with you uncut and unedited ... a nation living beyond its means, a nation living unsustainably. For its people, buying too much house, huge credit card debt for throw away consumer goods, and driving gas guzzler vehicles exemplify [more...]

Date: 2009-01-14 20:07:00

Where were you when the world ended?

Being a spoiler-filled (except for the final issue) narrative of your Winter Men reading experience, in nine (somewhat lengthy) parts. Part the First. Sometime around 10 August 2005. Your trip to the local comics-purveying establishment rewards you with a new comic written by a Mr. Brett Lewis and drawn by a Mr [more...]

Date: 2009-01-11 16:25:10

ROUNDUP: Can’t stop talking about the crisis

Sometimes, I wonder when the global financial crunch will no longer be in the headlines…or when a day will pass when we won’t talk about it…or when ... , whether a medical insurance or health card from an HMO. While you keep pouring your juice ... , UITFs and mutual funds, check out this article. Yes, there’s good debt and bad debt and it’ [more...]

Date: 2009-01-17 13:29:37

The Breakdown of the World Money Machine

A bad year…and 2009 doesn’t look much better…the worldwide financial crunch is affecting everyone… 2008 will go down as the worst year for investors ... s the first priority. I have to feed them…and buy medicines and fertilizers…even though nobody is buying ... money because they can’t get good prices for their cows…and can’t get credit from the bank [more...]

Date: 2008-12-30 20:49:57

The Chamber of Commerce Double Speak

     If you have read my blogs on any kind of basis, you have seen several on The Chamber Of Commerce ... ) on housing crisis, January 2008. xii Now: “This is not a bailout; this is Treasury buying toxic assets ... of freedom and opportunity -- is a bad bargain. In the end, Americans would find themselves neither [more...]

Date: 2009-01-16 20:34:02

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

Friday Fraudster Mail

I am having difficulty locating local Ministers to work with in the Lord direction. Missionary Program, I have prayed that God will aid me in my search for people to spread his word but now is time to ask your help in this area. Please advise me on what to do [more...]

Date: 2009-01-16 08:26:44

Assessing Your Debt Situation (4)

2. Find Money to Pay Your Debts If you can come up with a chunk of cash to pay off some of your debts, your financial woes may lessen ... From : Credit Repair by Attorneys Robin Leonard and Deanne Loonin ... this step, be sure you have affordable alternative housing or transportation available. If not, you’ll [more...]

Date: 2009-01-16 04:57:27

Buying a House - Can Anybody Do It?

Anybody can buy a house. There are several ways: you may need to fix your credit to get financing, or find a real estate investor to buy a house ... that there is no way you can afford it. It could be crushing blow. This could lead to bad feelings ... and bills. You need to know the amount of money you have to make payments on a home. Remember [more...]

Date: 2009-01-17 10:30:29

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

It is just like I feared…

Do not think I've forgotten you. I have not! But, as I suspected a few weeks back, ... my squeaks to excitement.) As for the resolutions? I totally fell off the no-credit-card wagon ... , the creativity, the running around town to procure random objects for interesting photo shoots – the bad [more...]

Date: 2009-01-16 15:14:15

It's a bad time to buy a home

Analyst warns against buying homes now:Fox-Pitt Kelton home-builder analyst Robert Stevenson said Wednesday he thinks this year will turn out to be "a bad time to buy a home" as the U.S. economy loses more jobs, especially if buyers don't plan ... weren't bad enough for housing — given the mounting foreclosures, falling home prices [more...]

Date: 2009-01-08 12:47:00

Ben's Printing Continues

A: In mid-late 2007, I decided to change the tune of this blog from daily discussions of Manhattan real estate, to the credit crisis. Now, its weeks before 2009, the credit crisis continues, the fed has taken unprecedented measures ... , Countrywide), with 18 credit lending facilities, with massive fiscal stimulus, that we are providing [more...]

Date: 2008-12-21 15:34:39

THE AUTOEXTREMIST

January 14, 2009 Detroit’s Winter of Discontent: Hits and Misses from the 2009 North American International Auto Show. By Peter M ... in January, and there are certainly better places to be than Cobo Hall, with its decidedly retro – as in, bad ... . Ford is now the one American car company – America’s original car company lest we forget – [more...]

Date: 2009-01-14 13:41:54

Posts about Obama Health Care Failure as of September 26, 2009

HCHR - Senator Baucus has Pushed Back the Vote on the Public-Option Amendments - nhinsider.com 09/26/2009 Developing Story: Senator Baucus has pushed back the vote on the Public-Option amendments propsed by Senators Jay Rockefeller and Charles Schumer from today to Tuesday, September 29, 2009.  Baucus used time constraints to delay the vote back.    Read the developing story ObamaCare’s Choice: Get an Insurance Or Go To Jail - poligazette.com 09/26/2009 No joke . [more...]

Date: 2009-09-26 13:00:29

Mensa Word List

: Here is the Washington Post’s Mensa Invitational which once again asked readers to take any word from the ... . The winners: 1. Cashtration (n.): The act of buying a house, which renders the subject financially ... : Terminal coolness. 11. Osteopornosis: A degenerate disease. (This one got extra credit.) 12 [more...]

Date: 2009-01-15 18:04:56

Flotsam and Jetsam

Flotsam and Jetsam Jennifer Rubin - 12.22.2008 - 10:48 AM Buried nearly at the end of the Washington Post story on Blago-gate is this nugget: ... credit for figuring out Biden is not a person to be taken seriously. And Biden muffed the “unitary ... t that at all. Too bad the interviewer didn’t ask whether President Obama would be giving up “signing [more...]

Date: 2008-12-22 15:48:19

Mortgage Loans - The Basics

by Trinity Collie Buying a home is a big decision. It is actually a really big responsibility to buy a home because it is such an expensive purchase. In order to get into a home, you will most likely have to borrow money from a bank to cover the cost of the home. This type of loan is known as a mortgage. The ease of getting a mortgage [more...]

Date: 2009-01-17 17:20:31

Kevin Nealon Records Humorous Radio Ads For Charity Giveaway

Former SNL star Kevin Nealon has recorded a series of funny radio ads as part of a fundraiser for the Boys & ... of nonexistent credit, there are plenty of ways to get into a home, including that trusty oversized key ... — and spending $150 to win a $650,000 home isn’t a bad deal! Especially with the odds being [more...]

Date: 2009-01-06 18:27:54

Spare part

the nasty side of human nature a few days ago, it is only fair that I redress the balance when I am reminded of the good side of people ... and adult gripesIt wasn’t just the credit crunchThe blunder of WoolworthsIdentity crisisThe beginning ... who have spoken to me about Woolworths have blamed the credit crunch and / or the government for the demise [more...]

Date: 2009-01-15 00:44:08

Another Quasi-Nationalization, House Debuts Obama Stimulus, Russian Resource War Approaches, Prices Fall and More!

by Addison Wiggin & Ian Mathias Congress unleashes remainder of TARP… another $350 billion into the void Treasury wastes no time… Bank of America quasi-nationalized Dan Denning on the real issue plaguing American financials Obama’s fiscal tenure off to terrific start… $825 billion stimulus bill, [more...]

Date: 2009-01-16 20:25:19

Best Blog Posts of 2008 (Chosen by the Bloggers Themselves)

Last year my compilation of what bloggers chose as their own best posts of the year proved so popular, at least with the participating bloggers' mothers, that I have decided to make it an annual affair. But enjoy it while you can. When the Obama Administration institutes its secret plan to extend the Fairness Doctrine to the Internet, this blog, [more...]

Date: 2008-12-29 21:00:00

Why Your Credit Score Is So Important To Your Ability To Borrow

Your credit information may be of no use to you. If you’re not planning on buying a house or renting an apartment, buying a car, taking out a loan, paying for college or getting a new credit card, then you won’t need to worry about getting ... you are and where you need to be financially. Bad Credit To improve your credit information, you’ll need [more...]

Date: 2009-01-17 13:04:13

GBTV #484 | GeekBrief.TV

Shownotes: After we quit our day job at Extra Space to do Geek Brief full time, we moved to the familiarity of our home town ... you!) On the flight back home, we decided to go forward with our dream to buy a bus and travel to all 50 ... disasters. We got great advice from them about buses and got serious about buying one. At the time [more...]

Date: 2009-01-05 02:51:59

The RIAA in 2008: highlights

p2pnet news view | P2P:- We have become irrevocably involved with, and responsible for, each other ~ Marshall McLuhan : The Medium is the Massage ————————– It’s been a bad year, a terrible year, for Vivendi Universal (France), Sony BMG (Japan and Germany), EMI (Britain), and Warner Music (US, but controlled [more...]

Date: 2008-12-26 15:34:58

Christmas Potpourri and Holiday Shopping Update

Happy Holidays and Happy New Year to you and your loved ones. Here are a few headline news reports of interest from the past couple days.U.S. Store Traffic Fell 24% on Pre-Christmas WeekendU.S. retail store traffic fell 24 percent last weekend from a year earlier as deepened discounts failed to entice consumers to spend during what may be the [more...]

Date: 2008-12-26 03:52:00

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