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economic news
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%.
“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.”
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
Although the final figures are not in, expect a record number of foreclosures again for 2009. In states that have revamped their foreclosure laws by mandating changes like lender borrower mediation, the trend has slowed significantly
When we look back on 2009, we see a year where missteps along the way could have plunged the world into another Great Depression. Picture a traditionalist like Herbert Hoover in charge. AIG, Citicorp, Bank of America, General Motors and Chrysler would have been left to fail. Millions more would now be out of work. [...]
As 2009 winds down, two pieces of good news released yesterday are significant for homeowners. The first is that for the fifth consecutive month home prices rose in October, according to the Standard and Poor’s Case-Shiller Home Price Index. The second is that according to the Conference Board, consumer confidence has edged back up to [...]
We have a lot to do in the coming year to regain lost ground, but until then in the spirit of the season, drink deeply in the joy that is out there.
Drilling down to the local level, the picture remains bleak for many communities across the country. In California, the state with the most number of foreclosures, some areas have unemployment on a par with the Great Depression.
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 mortgage first time home buyer tax credit Loan to Value Uncategorized Upside Down unemployment Real Life Stories Obama Financial Reform Obama Housing Plan Falling Home Value Refinance Lenders home value Credit Mortgage Revision economic news Loan Modification Foreclosure Help
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