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Topic: economic news
RealtyTrac credits the drop to “Foreclosure prevention policies and government legislation [which] are artificially distorting supply and demand equilibrium in the housing market.”
Today the Bureau of Labor Statistics announced that in February the economy lost 36,000 jobs, an increase of 10,000 compared to January, yet the nation’s unemployment rate stayed steady at 9.7%
By Paul M. J. Suchecki
Tags: CitiMortgage, deed in lieu of foreclosure, economic news, ...
No CommentsContinued weakness in the housing market has caused CitiMortgage, one of the nation’s biggest home loan servicers to rethink its foreclosure prevention strategy.
Continued unemployment is seen to be the cause of the drop in consumer confidence, Twenty thousand Americans lost their jobs in January, despite a marginal easing of the unemployment rate to 9.7%.
Compared to last year that’s a 21% rise. December’s housing starts were also revised upward.
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Remember, unlike a loan modification, short fi, short sale, keys for cash, or foreclosure, a refinancing can readily lower your mortgage payments while keeping your credit rating intact.
“The worst of the storm has passed, but the devastation remains. One in 10 Americans still cannot find work. Many businesses have shuttered. Home values have declined.”
By Paul M. J. SucheckiTags: Massachusetts Senate Vote, Obama Plan, Scott Brown Election, ...No CommentsAs Democrats seek to assign blame for their defeat, it would be useful to take a look at those bleak days when Franklin D. Roosevelt did take over as president.
We simply cannot accept a system in which hedge funds or private equity firms inside banks can place huge, risky bets that are subsidized by taxpayers
“Somehow, we just missed, you know, that home prices don’t go up forever,” testified James Dimon, chief executive of J.P. Morgan Chase. Mr. Dimon seems to have forgotten the lessons of the Japanese real estate and stock bubble of the 1980s, which crashed twenty years ago this month when Dimon was a mere youth of 33.
mortgage fraud reverse mortgage personal finance Deficiency Judgment Default Nationwide Mortgage Licensing System credit cards Short-Fi Jumbo Loan second mortgage Loan Default Short Sale bankruptcy Loss Mitigation Conforming Loan Uncategorized mortgage first time home buyer tax credit Loan to Value Real Life Stories unemployment Upside Down Obama Financial Reform Obama Housing Plan Refinance Falling Home Value Lenders home value Mortgage Revision Credit economic news Loan Modification Foreclosure Help
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