Very Scary Things by Paul Krugman
Eschaton: The other part of the housing/mortgage meltdown is coming out - when your loans are bundled up and resold there's no one to negotiate with. In 2003, Dianne Brimmage refinanced the mortgage on her home in Alton, Ill., to consolidate her car and medical bills. Now, struggling with a much higher interest ...more
Notice to Loan Officers/Brokers
The Big Picture: The following comes from a major U.S. mortgage writer. It is typical of what has been going on in the mortgage business over the past few days: As you are probably aware, the mortgage industry is going through a major disruption. In response to these market conditions and to enable ******* to continue ...more
Roundup: Financial Market Freakout
Blogs of War: Forbes Don’t go on that vacation just yet. Evidence that U.S. subprime mortgage debt woes have spread to Europe has rattled investors, who dumped shares of major banks and brokers. MarketWatch In the past two weeks, another 13 corporate loan or bond deals have been postponed or reduced, representing ...more
Very Scary Things by Paul Krugman
The Village News: ***When liquidity dries up,
as I said, it can produce a chain reaction of defaults. Financial institution A can't sell its mortgage-backed securities, so it can't raise enough cash to make the payment it owes to institution B, which then doesn't have the cash to pay institution C - and those who ...more
Technorati Tags: mortgage loan, Very, Scary, Things, Paul, Krugman
<< Home