Archive for Foreclosures
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You are browsing the archives of Foreclosures.
Over 150 lenders have already gone out of business since the peak of the sub-prime orgy.
This year over 1,000,000 yes, one million individual foreclosures are expected to happen.
Over $300,0000,000,000 that’s three hundred billion dollars of loans have been written off by the lending institutions and the best estimate is we are a little over half [...] Read more »
The unemployment number for December jumped to 5% from 4.7% in November. Non-farm payroll increased by only 18,000 jobs which is essentially a wash. Meaning about as many jobs were lost as added in December. Remember, these are lagging indicator meaning, the fundamentals in the economy caused the drop in jobs growth, the drop in [...] Read more »
Foreclosures Hit a Snag for Lenders
I’ll have more to say on this in a later post but this shouldn’t be a surprise to anyone familiar with CDOs.
It is going to be extremely interesting to watch it all get sorted out over the next few years.
Unfortunately for the people in the neighborhoods affected, blight, crime [...] Read more »
and an awful time to be a speculator.
Do you know the difference? More importantly, do you know which one you are? Hint: It is all in the risk levels and how they are managed.
And yes, I still believe the recession has started.
The reason investors are loving the current turmoil in all of the equity markets [...] Read more »
Cash is King and the best deals will always be had by those with the means to act quickly and decisively.
There are some media reports talking about some very well funded groups taking advantage of the housing market problems, especially in Florida. Many of these reports try to portray these groups as predatory and swooping [...] Read more »
The sub-prime market was the first to experience the crunch but it is certainly not the only sector.
American Home Can’t Fund Loans, May Liquidate Assets
By Bradley Keoun
American Home Mortgage corporate offices in Irving, Texas
July 31 (Bloomberg) — American Home Mortgage Investment Corp. shares plunged 89 percent after the lender said it doesn’t have cash to [...] Read more »
U.S. foreclosure filings surged 58% in H1 2007, with California skyrocketing 170% and Florida up 77%, according to foreclosure data company RealtyTrac Inc. A total of 573,397 homes were subject to some form of foreclosure filing in the period, including default notices, auctions and repossessions. Homeowners with adjustable rate mortgages (ARMs) whose monthly payments have [...] Read more »
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