May 2009 - Blown Mortgage

May 2009

GM to file bankruptcy tomorrow

“What is good for General Motors is good for America” Charlie Wilson, CEO of GM, 1955. Maybe the country will follow GM in to bankruptcy as well... The storied American car maker, which by some estimates employs one out of every ten Americans will head to bankruptcy tomorrow morning. It will be restructured by an [...]

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Is drop in home values nearing terminal velocity?

The best that can be said about S&P/Case-Schiller numbers out today is maybe home prices can't fall any faster. Prices for Q1 of this year dropped at 19.1%, .9% more than they dropped in the last quarter of '08. The 20-city index dropped 18.7% year-over-year, also a record. It fell 18.5% during the last three [...]

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Would One Mortgage Regulator Work?

The housing crisis has caused a re-evaluation of the current system on a number of fronts, from how mortgages are serviced to lending to the government’s role in financial markets. One area in particular that’s come under intense scrutiny of late is financial regulation, and Uncle Sam has launched a number of efforts to overhaul [...]

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Homeowners Lack Savings Amid Growing Job Loss Fears

Twenty-four percent of homeowners do not have any savings to cover their living expenses in the event they lose their job, according to the latest quarterly survey from Wells Fargo and Company. Although only 23 percent of survey respondents have managed to increase their savings during the past year, 60 percent indicate they want to [...]

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Do Homebuyers Need More Encouragement?

Here we are, well into the aftermath of the financial crisis that torpedoed home values across the country, sent mammoth financial institutions into the poor house, and drove unemployment numbers toward the double digits. The government, for its part, has taken increasingly drastic steps to put the real estate market right again, to mixed effect. [...]

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