2 Feb, 2009 in Bank Failures, Government Regulations, Humor and Commentary, bailout by Finance Editor

Banks are Hung Over Like Drunken Sailors after Credit Binge

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Financing.Org has a short piece covering President Obama’s remarks this weekend. In his remarks, the president makes it clear that he’s pushing banks to use a significant portion of the government’s bailout money to open up consumer and business lending. But the portion of his remarks that I found most telling was [...]

30 Jan, 2009 in Bank Failures, FHA/HUD, Government Regulations, Humor and Commentary, Refinance, bailout by Finance Editor

Get Your Liar’s Loan Done before 2010

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One of the most devastating factors in the national collapse of confidence in the home mortgage marketplace is the pervasive fraud that infested the mortgage brokerage system. In the good old days George Bailey made home loans to his neighbors and community. He knew who he was lending to, and had a pretty [...]

15 Dec, 2008 in Bank Failures, Humor and Commentary, Interest Rates, Loan Modification, Refinance, Saving Money by Finance Editor

The Money is Just Gone - Housing Prices Aren’t Ever Coming Back

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I hate to quote complete articles, but this analysis from USAToday is so powerful, and so sobering, we thought that it was well worth reading.

More room to fall?
For every $100 spent on a house in 1950 the investment rose slightly through 2002, then soared to about $192 in 2006, adjusting for inflation. Then credit [...]

17 Aug, 2007 in Humor and Commentary, Interest Rates by Finance Editor

Homeowners Caught In Mortgage Meltdown “Perfect Storm”

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Credit Crunch Is Making It Tough To Get A Mortgage Or Refinance A Home
(CBS News) CHICAGO Carl Donovan is one of the millions of Americans caught up in the mortgage meltdown because they can’t borrow any more money.
“I don’t know how I’m going to get out of this,” he tells CBS News correspondent Cynthia Bowers. [...]