The U.S. economy will not suffer from an overall economic depression as a result of the real estate depression, according to a new forecast by Housing Predictor. The majority of the nation’s housing markets are under going deflation as a result of the credit crisis, but analysts now expect the housing depression to begin showing… Continue reading Economic Depression Not Forecast for U.S.
Category: Mortgage
Foreclosure Auctions Failing to Attract Buyers
Lackluster turnouts at courthouse foreclosure auctions are becoming common place from the court house steps of Los Angles scattered across the country to New York City, according to attorneys who attend the auctions to bid on properties for mortgage lenders. The poor turnouts represent a major shift in the way foreclosures are being bought and… Continue reading Foreclosure Auctions Failing to Attract Buyers
The Sky Isn’t Falling
By Cathy Salustri It seems as though every other headline in the newspaper talks about people losing their homes and every time you turn on the TV newscasters are talking about foreclosures. Yesterday’s mortgage brokers work at Starbucks and Home Depot today. Some real estate agents are waiting tables or looking for other work. The… Continue reading The Sky Isn’t Falling
Giant Failures Await
Inside the offices of Countrywide Mortgage the signs illuminated their offices reading, “Fast and Easy Loans.” The notices beckoned any mortgage applicant to ask just what these loans were all about. The so-called Fast and Easy Loans offered by Countrywide and dozens of other mortgage lenders and banks throughout the country, which often gained chuckles… Continue reading Giant Failures Await
Mortgage Fraud Still Booms
Mortgage fraud, regarded as one of three main triggers of the housing crisis is still emerging with recklessness. “The fraud has by no means gone away,” said Merle Sharick of the Mortgage Asset Research Institute (MARI). Mortgage fraud perpetrated by industry insiders accounts for 80 percent of all reported mortgage fraud losses, according to the… Continue reading Mortgage Fraud Still Booms
Walk Away Homeowners Increase Foreclosures
The social stigma associated with defaulting on a mortgage seems to be disappearing as the nation’s housing crisis escalates. More homeowners are choosing to freely walk-away from their homes as the values plummet. New York University Economist Nouriel Roubini was one of the first to warn of the dangers from a major real estate boom,… Continue reading Walk Away Homeowners Increase Foreclosures
False Hopes Hang on Bail Out in Housing Crisis
By Mike Colpitts and Everett Jones Credit crisis losses are nearing $8-trillion worldwide as a result of unscrupulous lending by mortgage companies, banks and newly developed instruments on Wall Street to resell the mortgages as securities to investors, a Housing Predictor investigation has revealed. As President Bush signs the Housing Bill sent by Congress into… Continue reading False Hopes Hang on Bail Out in Housing Crisis
Six Steps to Buying Foreclosures
By Cathy Salustri With over 3.1-million more homes at risk of foreclosure, speculators and new homeowners entertain dreams of buying foreclosures to get that real steal. Unlike buying a new or resale home, buying foreclosures takes a key buyer beware attitude so you don’t get burned. Internet based services like Foreclosure.com and Realty Store.com provide… Continue reading Six Steps to Buying Foreclosures
Bold Steps Needed in Foreclosure Epidemic
By Mike Colpitts Half way through the first year of his administration, President Barack Obama has major problems still brewing with the economy triggered by the real estate crash. Hardly anyone expected the Obama Administration to pull off miracles and resolve the troubled economy rapidly. But hopes seem to be diminishing for a turnaround any… Continue reading Bold Steps Needed in Foreclosure Epidemic
US Government to Buy Stock in Fannie and Freddie
By Mike Colpitts Oh, how I hope the majority is wrong! The Bush Administration is handing over a proposal to Congress for the U.S. government to buy stock in America’s two biggest insurers of home mortgages, Fannie Mae and Freddie Mac. The plan would buy stock to keep them afloat, and essentially transforms both companies… Continue reading US Government to Buy Stock in Fannie and Freddie