2007 USA Realty Meltdown

2007 USA Realty Meltdown

Following the effects of the 2007 USA Realty Meltdown as homes go begging for sale.

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Written by dagg988 on
(CNBC)Financials have taken a big hit related to subprime problems, but now it's looking like no firm is safe — the mortgage mess is now having an impact on a number of other sectors. They're not taking multi-billion-dollar charges like the financial firms, but plenty of companies in industries ranging from pharma to tech are getting pinched by subprime. And they're getting pinched where they'd least expect it — in their cash accounts. These firms bought auction-rate securities — bonds created from pools of long-term debt. They don't pay a fixed rate, rather a lower, rolling rate that's reset through a Dutch auction every ... Read Full Story
Written by griede on
Dear Banks, The streets are full of your irresponsible lending practices. When checking the MLS this evening and pulling up homes built from 2004 till now in just Sacramento County , there were 182 homes listed as short sales . This figure doesn’t account for those homes that have already been repossessed and are now owned by the Bank, nor does it account for the homes that you have sold when hiring an auction company. The figure only accounts for today’s actively listed houses that are new and in short sale . The families that bought these homes bought them in good faith, thinking ... Read Full Story
Written by cort009 on
I have been predicting that this would occur.  This week's report on the huge down swing in retail sales with normally strong retailers like Wal-Mart, Target, Macy's, etc. has the analysts on Wall Street beginning to see the possibility of the R word - recession before the end of 2007. It is my contention as a former econ college student that the slow down of homes across the USA has caused the Domino Effect that we learned could occur.  Would you agree? Read Full Story
Written by GregKnowles on
October's home sales numbers are certainly no surprise. Santa Maria and Lompoc have been experiencing foreclosures and REO sales that have been inhibiting the number of real estate sales in these areas. There were 95 sales recorded this year compared to 133 sales in October of 2006. That is over a 28% decrease in home sales. Lompoc was hit the hardest with only 22 sales this year compared to 53 in October of 2006. Santa Maria was pretty close to last years number of 80, there were 73 for October 2007. In looking at the November and December numbers the last few years there ... Read Full Story
Written by cort009 on
Yes, with the gas prices shooting out of sight and closer and closer to $4 per gallon people are looking at ways to cut back so they can continue to drive their vehicles.  I predict that we will see a spike in late mortgage payments as they begin to juggle their money. Hey watch out Starbucks! People may also for go those expensive lattes! Read Full Story
We all know that subprime loans, generally adjustable rate mortgages made to borrowers with poor credit, often requiring significantly less documentation than had been traditionally required, have made up the bulk of the foreclosures during the market downturn. Now, however, The Mortgage Bankers Association reports that, due to rising unemployment, nearly a third of [...]  
From feedburner.com ()
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Most everyone would agree that the nation's recession was fueled largely by the collapse of the subprime mortgage industry. Many of the people who took out no-documentation, subprime loans could ill afford them. And scores of others who could eventually fell delinquent when their loans reset at a higher interest rate.  
From pasadenastarnews.com ()
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The Furman Center at New York University found that the probability that individual borrowers receive risky, high-cost subprime loans increases depending on the racial composition of the neighborhood or metropolitan area where they live.  
From cityroom.blogs.nytimes.com ()
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This is a joint post with Benjamin Leo. A special new lending facility was announced in July 2009 with the objective of providing up to $17 billion in new loans through 2014 and, to entice cash-strapped borrowers, the lender is waiving interest payments for the first two years. This may sound like dangerous new short-term teaser [...]  
From feedburner.com ()
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Katherine Coble is scaring me: From everything I’ve been reading and seeing of late, the Student Loan is in many ways the new subprime mortgage. The idea behind student loans is great. These loans are supposed to level the playing field a bit and make it possible for people without ready funds to be able to [...]  
From politics.nashvillepost.com ()
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Calpers burns in subprime fire 24 Oct 2009, 0000 hrs IST, REUTERS SAN FRANCISCO: Faced with huge losses on subprime loans, Calpers is suing the rating agencies which it said misled them by giving top ratings to mortgage bond funds which later turned out to be a house of cards. Calpers also was overcharged for foreign exchange transactions, says state Attorney General Brown, who is suing bank State Street. The market rally this year also has...  
From freerepublic.com ()
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CreditSights says accelerating shift from interest-only to higher amortising payments will spur delinquencies. Excerpts from US RMBS Update: A Payment-Shock Seesaw Delinquencies of 2005-vintage subprime and Alt-A loans will likely continue to be boosted because of mortgage-related payment shocks, CreditSights says in its latest update on the US RMBS market: “The past year has seen only 7% of [...]  
From researchrecap.com ()
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