If collections made a debt settlement offer or a company made a foreclosure rescue offer read this first Our material is dedicated to the financial crisis of 2007, documenting the period before, during, and after. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. We are a watchdog and consumer advocacy organization.
We cannot blame the credit crisis on poor people any longer, as if anyone actually believed that anyway. Rating agency Moody’s said last month that it was revising upwards the expected losses on 90% of Alt-A mortgage securities. It describes the collapse as ‘unprecedented for its asset class’. These are not the subprime households [...]
One out of every five Americans no owes more on their home than it is worth, according to research involving JPMorgan Chase’s decision to temporarily halt foreclosures. While that certainly is good news for many, it is not good news for investors and banks. “Prime mortgages, especially where there are pay-option ARMs involved, (are) [...]
The mortgage crisis of 2007 worsens and threatens to tip the economy into a recession. Many are asking where was Washington? Washington was in the same place as always, the question regarding what they were doing, and why, are the issues at the heart of the matter. Of greater interest to me are political contributions [...]
In the U.K. a foreclosure is called a reposession. Market analysis shows U.K. mortgage issues mirroring trends in the United States, as home owners find it difficult to refinance. The Council of Mortgage Lenders said the global credit crunch was exacerbating trends that were already emerging in the housing market. It said it [...]
Not too long ago the staff at Mortgage Blues warned about option arms. Now these home loans are beginning to worry borrowers and lenders. One real possibility is that borrowers are behind on their mortgage as they keep up with their credit card payments. Of course the opposite might be true. [...]
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