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SEC charges brokers with Collateralized Mortgage Obligation fraud
" In a lawsuit filed yesterday in the US Southern District Court of Florida, the SEC alleges the brokers presented the CMOs as suitable products for retirees and conservative investors. In some cases, the CMOs were... Cave Dwelling Family Can't Refinance, Selling Home on eBay
UPDATE MARCH 8th: I'm happy to report that things are looking up for the Sleeper family - it looks like they'll be getting private financing to keep their family "cave", after all. Here's an... Let The Revolution Begin [Rick Santelli Rant Video]
" Simpsons characters pictured in a mob revolt with tourches. Image Credit: The SimpsonsLet The Revolution BeginIt's ironic that Barack Obama, whose friends were disciples Saul Alinsky, an ardent social... 899 views | 15 recommendations | 2 comments
Prognostications, Pundits and Poo
Prognostications, Pundits and Poo
Bill Hitchcock
We all know that we are in an “interesting” real estate environment. The fact is-It’s terrible. But where do we go from here?
Personally, I think prognostications from most pundits is purely poo. Most of the... Will the German government become defacto shareholder in BC P3s?
The German bank that's involved in the financing of three high profile public-private partnership (P3) projects in British Columbia may be partially nationalized by the German government. Hypo Real Estate (HRE)... Nearly 10% of Latinos lag on mortgages
" Nearly one in 10 Latino homeowners fell behind in mortgage payments last year. That's the finding of a Pew Hispanic Center survey. The Hispanic research group also reports about 3% say they had received a foreclosure notice. The survey found that nearly half of respondents,... Facing Foreclosure? Be careful to avoid bogus Rescue firms.
Hell has a special place reserved for those who prey on the innocent, but until those scam artists fill their reserved slots we all need to make sure we learn how to spot them. ... Houses of God Turn to Chapter 11 in Book of Bankruptcy
Amidst a nationwide recession, financial credit meltdown and foreclosure crisis, churches also are praying that they can meet their next mortgage. "The era of easy credit has begun taking its toll on even the... An Inside Story of Wall Street Bank Crashes
"After his stint on Wall Street, Michael Lewis wrote Liar’s Poker, a famous book that gave an inside story of the high-rolling Wall Street of the 80’s, with its exorbitant salaries and careless handling of... Brazil Boosting on Infrastructure and Housing Credit
Yesterday the Brazilian government announced its six months moratorium on mortgage payments for unemployed home owners, now Minister of Finances Guido Mantega said that a federal controlled bank will boost... Bank of America to Cut 35,000 Jobs by 2011
NEW YORK - Bank of America said yesterday taht it will eliminate 3,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co. An announcement... Employers cut 533K jobs in Nov., most in 34 years
"Employers cut 533K jobs in Nov., most in 34 years Dec 5, 2008 Economy Dec 5, 3:22 PM (ET) By JEANNINE AVERSA WASHINGTON (AP) - Skittish employers slashed 533,000 jobs in November, the most in 34 years,...Banks face pressure on rate cut
"Banks and building societies are coming under increasing pressure from MPs to pass on the latest cut in interest rates to their mortgage customers. Some of the major lenders made an immediate decision to pass on...Subprime Mortgage Foreclosures Have Affected the Financial Meltdown
The title of the “Anatomy of a Meltdown” in an issue of The New Yorker magazine was rightly apt for the current financial crisis sweeping across the nation. Federal Reserve Chairman Ben Bernanke and other experts last year were quick to say that the blossoming issues on...Holiday From Foreclosures Till January 2009
Nationalized mortgage giants Fannie Mae and Freddie Mac are offering holidays from foreclosures till 2009. This will temporarily bring some relief to besieged house mortgage borrowers. Banks have realized that accepting lower payments is a better alternative to proceeding...
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