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Archive for the 'News and Economy' CategoryForeclosure FalloutIf you are facing foreclosure and feeling overwhelmed by all the technical jargon that the bank is throwing at you, stay patient and make sure you understand everything that is going on in the process. If you are looking to stay in your home you DO HAVE OPTIONS. You may be running out of time […] Condo Mortgages Through Fannie MaeBecause both government agencies of Fannie Mae and Freddie Mac are dealing with such an unprecedented level of foreclosures, they are tightening their lending practices in hopes of cleaning up balance sheets. Fannie Mae has recently added tougher lending guidelines making it more difficult for developers to sell units at new construction projects. Saving vs. Spending — Which One is the Real Problem for the Economy?There is no question that the economy is collapsing. From a Dow at nearly 14,000, we now have a Dow edging closer to the 5,000s. Hundreds of small lenders have gone out of business, a number of banks have failed, and numerous companies and industries have lined up for federal government bailout money. Both overspending […] Foreclosure Workout and Mortgage Modification under ObamaThe new Obama administration has taken drastic measures to help struggling homeowners modify existing loans that may be in or going into default. Those suffering hardships, experiencing declines in household incomes or rising expenses, rising interest rates, high mortgage debt to income ratios, owing more to the lender than the home is worth or going […] Simple Video Explanation of the Housing Collapse and Credit CrisisBelow is a great video explaining much of the so-called credit crisis and how the government and the banks have destroyed the American economy through a series of actions, exhibiting both fraud and incompetence. It is a highly recommended video for an overview of how Wall Street and Washington preyed upon Main Street to inflate […] Government Bailouts and Foreclosure Relief Package — Who Gets Hurt?“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.” Revisiting the Subprime Mortgage Collapse: SecuritizationIt has been nearly a year and a half now since the rot in the subprime mortgage market became apparent to the rest of the world. When two Bear Stearns hedge funds collapsed in the summer of 2007 due to overexposure to risk in these types of home loans, the economy’s house of cards began […] America’s Emptiest Cities Article ReviewCitation Foreclosure Bailout Plan Changes and Nationwide StatisticsOctober 2008 shows that foreclosures are on the rise, approximately 25% nationally compared to last year at this exact time. Lenders began foreclosure proceeding on more than 279,000 in this past month alone. Along with that, 84,000 properties were reported repossessed this past October. Actual Foreclosure Fish Used to Help Clean Abandoned Foreclosed HomesThis is simply too weird, but it seems that a specific type of fish is being used in California to assist authorities in keeping abandoned, foreclosed homes from turning into breeding grounds for mosquitoes carrying malaria or West Nile Virus. Where both swimming pools and foreclosure are common, the danger arises of the pools being […] |
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