11 Articles match "Foreclosures","New York","Subprime"

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• New York Versus Freddie Mac: Round One
  
  New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens
  www.realtytrac.com - Tuesday, February 3, 2009
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• Study Forecasts Rising Subprime Foreclosures
  
  A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Subprime Market Sinking Further Into the Abyss
  
  The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). Now the problem has dug down to the very roots of the lending industry and is shaking loose some of the largest subprime lenders, who are now falling into the abyss. The latest victim of its own success is New Century Financial Inc. The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers began feeling the effects of those resets during the second
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The $3 Billion Foreclosure Payday
  
  Last year, Paulson made $3 billion betting on foreclosures . During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. Meanwhile, Wall Street had started a new trading index to bet for or against subprime mortgages, called the ABX, which reflect the value of a pool of subprime mortgages made over a six month period. You may not know who John Paulson is, but you soon will. That puts the Wall Street hedge-fund manager among the top
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure "Megatrends"
  
  Foreclosures are rising. For investors and homebuyers, these and other rapidly developing “megatrends” could signal opportunities. Vultures Circling Wall Street wizards profited handsomely from the subprime market they helped create; Wall Street gurus will profit from cleaning up the mess they spawned. In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. Home prices are falling. Sales are down.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• High-End Foreclosures Rising Among Top Tier Homes
  
  High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind
  www.realtytrac.com - Tuesday, February 3, 2009
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• As Foreclosures Mount, Candidates React to the Credit Crisis
  
  With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures. Yearning to retake the GOP-controlled White House next year, the Democrats are clamoring for the federal government to do something, anything, to contain the crisis.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Hold Onto Your Hat and Hat Rack
  
  This breeze that is gaining strength is yet the latest fallout from the foreclosure hurricane sweeping the nation. The New York Times recently reported in two related stories that in some instances, homeowners who have already lost their homes to foreclosure are now faced with suffering the greatest embarrassment of all — having their personal items auctioned off. However, with the rise in foreclosure activity throughout the state, more There’s a warm wind swirling around this country right now, and it may just blow the hat off of your head…and take along with it everything else you own as well.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Bush Mortgage Freeze Could Expand to Prime Loans
  
  It seems like Treasury Secretary Henry Paulson has been spending the new year defending his boss’ “Hope Now” plan to ease the pain of foreclosure and to give the U.S. So far this week Paulson made a speech in New York on Monday defending the president’s Hope Now alliance which has been together a mere three months. Then, appearing on CNBC Tuesday, the secretary revealed that the Bush Administration economy the boost it needs to sustain itself. In the process the secretary justified the need for the industry coalition, while calling on Congress to expedite legislation
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• You Too Can Predict the Future...Maybe
  
  Although he believes the $152 million economic stimulus package President Bush and Congress approved last month will help somewhat, Engle, a professor at New York University, is disappointed in the performance of the housing sector enough to blame it as the chief reason that a recession is likely. “What I’m hoping is that this sector of the economy doesn’t get legislated away. think subprime loans have made it possible for a lot of low-income households to buy a home for the first time. Time to dust off those Ouija boards and take out the tea leaves. The way things are
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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