Mortgage Debt Consolidation

Post Properties, Inc. (NYSE: PPS) announced today a net loss attributable to common shareholders of $(27.0) million for the second quarter of 2008, compared to net income available to common shareholders of $62.0 million for the second quarter of …

Delusions of Debt - Seekingalpha.com
Make no mistake. Our country is in the midst of a financial crisis of epic proportions. We are in a long national emergency. In the last 6 months, we have been on the brink of financial collapse twice. First, Bear Stearns ( BSC ) was going to declare …

Click Here for another interesting article you can’t resist

Book review by Toro s Running of the Bulls Blog. I was in the Calgary airport a few weeks ago on my way to the west coast when I wandered into a bookstore and picked up Garth Turner s book Greater Fool, a critique of the current Canadian housing market. A little ironic, I thought, given that the bookstore looked out onto the open rolling hills at the edge of one of Canada s hottest real estate markets, unencumbered by any natural barriers which might put a halt to the ever-expanding buildin

New York Feels the Pinch From Wall Street Downturn (Washington Post)
NEW YORK — Wall Street’s woes are mounting. Investment banks are swamped by bad mortgage debt. Profits have fallen. Tens of thousands of jobs are being cut. And those lucrative year-end bonus checks are likely to be the stingiest in more than a decade.

Freddie Talks The Talk (Forbes)
Bad news piles up for mortgage agency.

Click Here for another interesting article you can’t resist

Analysts at Standard & Poor’s Rating Services warned against mortgage-related debt products in internal e-mails that, in one case, called the complex financial deals “ridiculous,” the Wall Street Journal reported in its weekend edition.

Freddie Mac Still Hurting (Forbes)
The quasi-private mortgage backer got banged up on delinquencies in its loan portfolio, causing credit-related expenses to soar, as the housing market limps along.

Greater Fool
I was in the Calgary airport a few weeks ago on my way to the west coast when I wandered into a bookstore and picked up Garth Turner’s book Greater Fool, a critique of the current Canadian housing market. A little ironic, I thought, given that the bookstore looked out onto the open rolling hills at the edge of one of Canada’s hottest real estate markets, unencumbered by any natural barriers which might put a halt to the ever-expanding building. Turner is a Member of the Canadian Parliament an

Click Here for another interesting article you can’t resist

NEW YORK — Wall Street’s woes are mounting. Investment banks are swamped by bad mortgage debt. Profits have fallen. Tens of thousands of jobs are being cut. And those lucrative year-end bonus checks are likely to be the stingiest in more than a decade.

Freddie Mac swings to 2Q loss (AP via Yahoo! News)
Freddie Mac on Wednesday posted a second-quarter loss more than three-times larger than Wall Street expected as more homeowners fell behind on their mortgages.

Click Here for another interesting article you can’t resist

from News With Views: I detest the prosperity gospel. Ever noticed how the name-it-and-claim-it preachers are lining their own pockets but those who support their ministries can barely make ends meet? These smooth talking televangelists are adept at using psychological manipulation and peer pressure to persuade people to pull out their credit cards. (More on this later.) Televangelists hold to Word-Faith beliefs that are both blasphemous and heretical. Faith preachers say, Demand what you

Foreclosure Defense: CNN 2005 Report Lender Pressure on Appraisers A train wreck waiting to happen IT DID!
more than 8,000 appraisers roughly 10 percent of the industry have signed a petition asking the federal government to take action. There are a lot of people who have refinanced for more than their homes are actually worth and they re effectively already upside down even without a real estate bubble bursting, said Callahan. Down the road if they have to sell or decide to refinance, a more accurate appraisal might show that they owe more than the house is worth. Nothing happened . Excep

(AFX UK Focus) 2008-08-05 09:39 Hong Kong shares close sharply lower on bank results, commodities slide (Interactive Investor)
HONG KONG (XFN-ASIA) - Share prices closed sharply lower as weak first-half results from HSBC and Bank of East Asia reminded investors of ongoing troubles in the financial sector due to soured US mortgage debt.

S&P emails slammed mortgage debt products: report (Reuters via Yahoo! News)
Analysts at Standard & Poor’s Rating Services warned against mortgage-related debt products in internal e-mails that, in one case, called the complex financial deals “ridiculous,” the Wall Street Journal reported in its weekend edition.

Click Here for another interesting article you can’t resist

CHICAGO (Reuters) - Analysts at Standard & Poor’s Rating Services warned against mortgage-related debt products in internal e-mails that, in one case, called the complex financial deals “ridiculous,” the Wall Street Journal reported in its weekend …

Australian bank debt write-downs reveal deepening economic problems - World Socialist Web Site
Large write-downs announced in the past week by two of Australia s big four banks have underscored the worsening local implications of the financial meltdown that began in the United States last year. The announcements by the National Australia …

Mortgage market targeted by hedge funds (Calcutta News)
Dozens of hedge funds and private equity groups have been quietly building equity in the beaten-down mortgage market in the US.

Inland Real Estate Corporation Reports Financial Results for Second Quarter 2008 (Centre Daily Times)
Inland Real Estate Corporation (NYSE: IRC) today announced financial and operational results for the second quarter ended June 30, 2008.

Click Here for another interesting article you can’t resist

Make no mistake. Our country is in the midst of a financial crisis of epic proportions. We are in a long national emergency. In the last 6 months, we have been on the brink of financial collapse twice. First, Bear Stearns ( BSC ) was going to declare …

Whitney: Credit crunch far from over - CNN Money
NEW YORK (Fortune) — The credit crisis is far from over, star analyst Meredith Whitney tells Fortune magazine in its upcoming issue. Whitney, who audaciously - and correctly - predicted last October that Citigroup ( C , Fortune 500 ) would have to …

Click Here for another interesting article you can’t resist

Never borrow more than your house is worth August 4th, 2008 Mortgages appear to be a topic in the news constantly. I turn on the TV and there is another mortgage crisis. It is familiar to me because I had my own recently. My advice and it seems others advise this as well, is to never borrow more than your house is worth. Wildly we were all given loans through our great credit! Now we are all paying dearly. With the recent slump in the market many are scrambling to break even with their

Safety Announces Second Quarter 2008 Results and Declares Third Quarter 2008 Dividend (Centre Daily Times)
Safety Insurance Group, Inc. (NASDAQ:SAFT) today reported second quarter 2008 results. Net income for the quarter ended June 30, 2008 was $20.9 million, or $1.30 per diluted share, compared to $22.9 million, or $1.42 per diluted share, for the comparable 2007 period. Net income for the six months ended June 30, 2008 was $40.0 million, or $2.48 per diluted share, compared to $47.6 million, or …

The New Mortgage Relief Bill
The New Mortgage Relief Bill From the AP: How the housing bill signed into law Wednesday by President Bush affects homeowners: All homeowners who do not itemize their income taxes can deduct between $500 and $1,000 from their 2008 federal taxes. Homeowners struggling to make payments on high-interest mortgages can contact their banks and transform their loans into government-backed, 30-year fixed-rate mortgages. To qualify, homeowners must have a mortgage debt-to-income ra

Click Here for another interesting article you can’t resist

How the housing bill passed by Congress and signed into law last week by the president affects homeowners: All homeowners who do not itemize their income taxes can deduct $500 to $1,000 from their 2008 federal taxes.

The Unwanted Housing Glut
The Unwanted Housing Glut Holman Jenkins writes: Where are the hosannas for Congress’s handiwork on housing? The key word is refinance. Even if this money helps prevent foreclosures, it’s aimed at houses that people want and that would likely resell even if foreclosed. Hardly touched is the real problem of tens of thousands of houses financed during the subprime boom that are unoccupied, unwanted, falling apart, built on spec, mortgaged on spec and abandoned on spec. Washin

S&P emails slammed mortgage debt products: report (Reuters)
S&P emails slammed mortgage debt products: report (Reuters) The SEC spent 10 months looking at the biggest ratings firms: Moody’s (MCO.N), Standard &

Debt Rattle, August 3 2008: Awful News for British Banks Day
National Photo Company Collection Housing Boom 1923 “Allied Asphalt Products Co., 4700 block of 8th St.” The Joseph Shapiro Company Exhibit House at Eighth and Crittenden streets N.W. in Washington, D.C. Ilargi: With Friday now renamed “US Bank Failure Day”, we should perhaps opt to re-baptize Sunday as “Awful News for British Banks Day”. British home prices fell by 10%. That returns them to 2006 levels. Now, remember, a few days ago, Meredith Whitney said that even a return to 2002-20

Click Here for another interesting article you can’t resist

Guess who holds your mortgage now? It’s your friendly neighborhood hedge fund. Dozens of hedge funds, private-equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans…

Click Here for another interesting article you can’t resist