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- Is Fannie Mae and the banks hiding forclosures?
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(Hat tip Patrick.net) This morning I was reading this article about Florida foreclosures not being listed and “passively” marketing them.Some of this is because of total incompetence but another part I believe is fraud.From the article:Hidden Listings …
Original Source: bubblemore.blogspot.com
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12 May, 2008| housingblogs |
Comments (0) @ 16:36
- The wreck that can’t stop sinking
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Northern Rock just keeps piling on the agony for Brown, Darling and the rest of the New Labour crew. Today, the failed bank announced that its mortgage arrears jumped sharply, dramatically increasing the risk that the taxpayer will end up losing money after bailing out the failed lender….
Original Source: ukhousebubble.blogspot.com
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12 May, 2008| housingblogs |
Comments (0) @ 16:24
- Radian on House Prices
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From the Radian conference call this morning: “We continue to see the poorest relative performance in our Alt-A book and California and Florida continue to heavily influence overall portfolio performance. 60% of the increase in defaults in Q1 was attributable to Alt-A loans and 50% of the additional 1st lien reserves can be attributed to California and Florida . We estimate the peak to trough national price declines in a range between 8-13% using the OFHEO index. That would be in line with the Case Shiller approximated range of 16-26%. We could clearly see declines in areas of California and Florida that are twice the national rate.”
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Original Source: feeds.feedburner.com/CalculatedRisk
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12 May, 2008| housingblogs |
Comments (0) @ 16:01
- April home sales in L.A. down 43%
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Though the market showed a few signs of life in April, home sales continue to slide dramatically from year-ago levels, with median prices also slipping, according to HomeData Corp.HomeData numbers first reported in the Los Angeles Business Journal show: –Sales for the month of April increased 15% from March, but were still 43% below year-ago levels, when April 08 numbers are adjusted to show a 4-week selling period.-…
Original Source: feeds.latimes.com
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12 May, 2008| housingblogs |
Comments (0) @ 15:52
- California Comptroller Report for April 2008
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The California State Controller has released his Statement of General Fund Cash Receipts and Disbursements for April. Here is the summary analysis.Totals from the three largest taxes show a declining rate of growth. In April of 2006 the year-to-date increase in the big three taxes was 10.5% higher than the same period of the prior year. In 2007, the growth was 3.1%. By April 2008, the fiscal year-to-date growth had slippedt…
Original Source: www.creditbubblestocks.com
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12 May, 2008| housingblogs |
Comments (0) @ 15:00
- Housing Bust: The Hamptons to Atlanta
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From the New York Post: Trouble in Paradise (hat tip blogenfreude) In the first three months of this year, banks have launched preliminary foreclosure actions - known as lis pendens proceedings - against a record 120 borrowers in East Hampton and Southampton towns. …”This problem didn’t even exist before,” said John Brady, a broker with Coldwell Banker in East Hampton. “They used to pop up once in a while, and you wouldn’t even pay attention. Now you expect to see new ones every week.” T…
Original Source
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12 May, 2008| housingblogs |
Comments (0) @ 14:59
- MBIA Posts $2.4 Billion Loss
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From Bloomberg: MBIA Posts Loss of $2.4 Billion as CDO Slump Deepens MBIA Inc. … posted a net loss of $2.4 billion as the slump in mortgage securities deepened. The beat goes on.
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Original Source: feeds.feedburner.com/CalculatedRisk?i=F5wUFy” border=”0″>
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12 May, 2008| housingblogs |
Comments (0) @ 14:39
- A Long Roller-Coaster Ride Down Into Hell
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The Bradenton Herald reports from Florida. “Thomas Wilson strolls through his Stoneybrook at Heritage Harbour neighborhood, pointing out the subtle signs of financial fallout. Windows with views of empty rooms. Weeds sprouting through once well-manicured lawns. Small, bright orange stickers on front doors, the tell-tale sign that the houses have been abandoned.”
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Original Source: thehousingbubbleblog.com
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12 May, 2008| housingblogs |
Comments (0) @ 14:22
- Bailout: Little cost but also little help
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A congressional proposal to have the government help homeowners refinance mortgages they can no longer afford will only help a small fraction of those who are at risk of losing their homes.
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Original Source: money.cnn.com
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12 May, 2008| housingblogs |
Comments (0) @ 13:41
- Desperate Homeowners, Drastic Actions
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Original Source: www.mortgagenewsdaily.com
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12 May, 2008| housingblogs |
Comments (0) @ 12:32
- Overweight on Mortgage-Backed Bonds
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Original Source: www.mortgagenewsdaily.com
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12 May, 2008| housingblogs |
Comments (0) @ 12:32
- HSBC - The Poster Child of Diversification
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Original Source: www.mortgagenewsdaily.com
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12 May, 2008| housingblogs |
Comments (0) @ 12:32
- Bits Bucket And Craigslist Finds For May 12, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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12 May, 2008| housingblogs |
Comments (0) @ 12:03
- A HousingPANIC message to Barney Frank, Chris Dodd, Hillary Clinton and any other fool who thinks American taxpayers should bail out Housing Gamblers
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Barney, Chris, Hillary and Friends,If you spend one penny of direct taxpayer money, or expose the American taxpayer to any more risk than we already have (Fannie, Freddie, FHLB, FHA, etc) THEN WE WILL HOUND YOU, WE WILL TAKE OVER YOUR OFFICES, WE AND WE WILL VOTE YOU OUT THE NEXT CHANCE WE GET.WE ARE THE MAJORITY….
Original Source: housingpanic.blogspot.com
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12 May, 2008| housingblogs |
Comments (0) @ 10:55
- So much for being responsible…
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From the Wall Street Journal:
The Biggest Housing Losers
May 12, 2008
You may not know it, dear reader, but Congress is playing you for a sap. During the housing mania, you didn’t lend money at teaser rates to borrowers who couldn’t pay, or buy a bigger house than you could afford. You paid your bills on time. As a reward for that good judgment and restraint, Barney Frank is now going to let you bail out the least responsible bankers and borrowers.
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Original Source: njrereport.com
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12 May, 2008| housingblogs |
Comments (0) @ 10:51
- 5 new rules for home sellers
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Selling a home is a lot trickier than it used to be - here’s how to be smart about pricing, presentation and incentives.
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12 May, 2008| housingblogs |
Comments (0) @ 10:40
- Flood the White House folks. The only thing that can stop a massive taxpayer-funded Housing Gambler Bailout now is George W. Bush
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Oh dear god. George W. Bush holds the fate of the nation in his hands.The White House1600 Pennsylvania Avenue NWWashington, DC 20500Phone Numbers202-456-11112…
Original Source: bp1.blogger.com
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12 May, 2008| housingblogs |
Comments (0) @ 10:13
- Will Sell Wedding Ring To Avoid Foreclosure
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From Friday’s Craigslist:Yellow Gold, 1/2 carat diamond S1 quality with attached wedding band with 7 diamonds, and channel set anniversary ring with 7 diamonds. Total of 3 rings for $1200 - must sell to avoid foreclosure. Contact Peggy….
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Original Source: housingdoom.com
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12 May, 2008| housingblogs |
Comments (0) @ 9:03
- Housing rescue: Fighting over the best fix
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While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers.
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Original Source: money.cnn.com
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12 May, 2008| housingblogs |
Comments (0) @ 9:00
- Housing bailout: Little cost but also little help
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A congressional proposal to have the government help homeowners refinance mortgages they can no longer afford will only help a small fraction of those who are at risk of losing their homes.
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Original Source: money.cnn.com
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12 May, 2008| housingblogs |
Comments (0) @ 8:54