If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Here we are, well into the aftermath of the financial crisis that torpedoed home values across the country, sent mammoth financial institutions into the poor house, and drove unemployment numbers toward the double digits. The government, for its part, [...]
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There is a small amount of silver in the middle of this massive storm cloud – interest rates are dropping for many adjustable rate mortgages.
Some 420,000 hybrid ARMs are scheduled to reset in the coming year. For a while many observers were afraid that they would reset higher. Had that happened it certainly would have [...]
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Bank Industry Slams Citigroup Mortgage Deal - The American Bankers Association thinks giving bankruptcy courts more authority in forcing cram-downs will increase the cost of mortgage lending.
Foreclosures More Than Doubled In 2008 - U.S. foreclosures increased by 81% over 2007. Nevada, California, Arizona & Florida top the list.
Bankruptcy System Takes On The Mortgage Mess - The Federal Bankruptcy [...]
I’m sure you’ve heard. The Fed cut rates to about zero. Welcome to the beginning of our lost decade.
I’ll have more later, but I didn’t want you all to think I didn’t notice.
The Federal Reserve held interest rates steady at 2%, rebuffing some talk of another interest rate cut in light of the recent meltdown of Lehman and AIG. This was the first time in a year the vote by the FOMC was unanimous.
Here’s the statement:
The Federal Open Market Committee decided today to keep its target [...]
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