9 Articles match "2008","America","Subprime"

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• Will Main Street Sink Wall Street?
  
  Two Bear Stearns hedge funds that invested heavily in subprime mortgage securities racked up huge losses last month after they made bad bets on complex securities backed by risky mortgages. The near-collapse of the two Bear Stearns hedge funds proves that the depth of America’s foreclosure fiasco is far from over. The wizards on Wall Street — worried that the subprime mortgage debacle will Mounting mortgage defaults by American homeowners with shaky credit have claimed their first Wall Street casualty, as investment banking giant Bear Stearns shuffled the leadership of its asset-management division and lost billions in the risky hedge fund market last month.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• From $2B Bailout to $4B Buyout at Countrywide
  
  Just late last year Bank of America infused $2 billion into the coffers of Countrywide Financial to support the floundering lender’s attempt to survive the subprime mortgage mess — which reportedly almost forced the firm into filing for bankruptcy protection earlier this week. Now with Countrywide’s stock weak and its value depressed, it is being widely reported that Bank of America is paying $4 billion in stock to buy out the company — in which it already had a 16 percent stake in convertible preferred stock after the bailout. It didn’t take long from a historical perspective.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Big Ben Is Finally Talking Foreclosures
  
  Speaking at the Independent Community Bankers of America Convention in Orlando, Bernanke noted that 1.5 million subprime loans (or approximately 40 percent of the outstanding stock of subprimes) were going to reset in 2008 from just above 8 percent to about 9.25 percent — about a $1,500 increase on the average subprime loan. Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Lenders help their customers curb foreclosures
  
  Bank of America Corp. a Kansas City-based subprime mortgage lender, helps its customers find jobs. As borrowers falling behind on their mortgage payments increase in number, they are getting help form an unlikely source — the mortgage industry. Banks are increasingly testing new strategies to help curb mortgage delinquencies .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• March Mania and RealtyTrac's Sweet 16 Foreclosure List
  
  For the best foreclosure opportunities during the subprime meltdown, join RealtyTrac for the most comprehensive foreclosure data nationwide. Don’t miss next weeks tip off, when RealtyTrac announces America’s “Elite Eight” — a fast break list of the most expensive foreclosures in the nation. Posted 03-23-2007 4:38 PM by Octavio Each spring brings the beginning of the real estate sales season and the end of college basketball, culminating with March Mania and the much awaited NCAA Sweet 16 playoff. This weekend, as the best college
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• It Used to Be a Day Job
  
  People feel sorry for the distressed homeowners who are losing their homes as their adjustable rate subprime mortgages reset to higher-than-affordable interest rates. That, in my estimation, is what America is all abou The far-reaching implications of the nation’s foreclosure crisis continue to snowball a little more every day. In its latest evolution, what started out as the lending industry selling undesirable loans to undeserving/unqualified borrowers who are now going into foreclosure by the thousands, has now filtered down to a lack of jobs for day laborers around the country.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Not Enough Rope in Administration's Lifeline' Program
  
  The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., On the plus side, the Lifeline program is not being applied to only subprime adjustable-rate mortgages (ARMs). Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. Last
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Another Approach to $700 Billion Bailout
  
  Stop fanning the fantasy of the “American Dream” of owning an outrageous debt for the next 30 years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Home Prices Plummet, When Will You Buy?
  
  We sold a condo and bought a single-family home.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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