Nov 2 2009
Bankruptcy Filings to Match Divorce Filings in 2009: 1.5 Million. 35.8 Million Americans on Food Stamps - 11 Percent of the Population. The 5 Indicators of the Misery Index.
It is a sobering fact that in 2009, there will be as many people filing for bankruptcy as those filing for a divorce. We are on track to seeing an average of nearly 5,900 bankruptcy filings a day for 2009. While some people use the stock market as their barometer of economic recovery, there are [...]
Sep 8 2009
Option ARM Disaster Arrival: Mortgages More Problematic than Originally Thought. $134 Billion Recasting in Next Two Years. 94 Percent Made only Minimum Payment. Only 35,000 of the 1 million Option ARM loans Modified.
Option ARMs, the dubious name for a mortgage product of financial destruction, are back in the limelight showing that they have not gone away. Everyone by now has heard about option ARMs. These toxic mortgages allowed borrowers a buffet of payment options. However, in recent data released this week we are told that things are [...]
