Jun 14 2008

Loss Mitigation: Short Sales: Nothing Short about the Approval Process.

With the current housing mess people think that banks would be chomping at the bit to approve short sales. That is when a lender approves for a sale which is less than the face mortgage balance. Banks and lenders do not operate under a charity model. They will only approve a short sale if they believe in the long run that they will be saving money. This equation doesn’t always work out to the benefit of the current seller. Also, banks are currently inundated with REOs which are taking over a lot of the time of those in the loss mitigation departments. Read More

Jun 13 2008

Buy a Home to Bail on Your Current Home. New Face of Foreclosures.

You’d be surprised what is going on in the current housing market.  Many people are now trying a new technique by bailing out on their current home in order to purchase a new home while their credit is good.  If you do the math, it would make sense at least from the buyer/seller perspective.  Say you bought a $600,000 home at the peak which is now only worth $300,000.  You’ve been diligently making your payments so your credit is still good.  You see a similar home selling for $300,000.  You decide to buy the $300,000 home, and then try to sell you $600,000 home with little concern of whether it sells or not.  Your credit will be ruined but at least you’ll have a new place and for most people, good credit is all about being able to buy a home.  This of course is illegal but that hasn’t stopped people this decade: Read More

Jun 4 2008

Doing The Housing Math on the Ed McMahon Home: Facing Potential Foreclosure in Beverly Hills.

Ed McMahon is a household name with most American families. His jovial attitude and his Publisher Clearing House awards are etched on the minds of many Americans. The idea of him knocking on your door and presenting you with an oversized check is at the core of the American dream jackpot. One would associate wealth when it comes to Ed McMahon. In another demonstration that the housing market is touching every niche of the U.S. housing market the Wall Street Journal reports that Ed McMahon may be facing foreclosure to no other than Countrywide Financial:

Read More

May 30 2008

Myth Busted: Being Owned By the Ownership Society in California: How Housing and Credit Came Crashing Down.

In 2003 President Bush talked about an ownership society to encourage the American public to take personal responsibility for their own actions and success. This was the rallying cry for the major tax cuts that were being pushed onto the American scene supposedly to bolster economic growth. The plan itself seemed to be working for a few years since homeownership rates were going through the roof and it seemed that all was well. However, the underbelly of that boom was that America in a decade long bubble through deficit spending, was only forestalling a time when all would come crashing down.

Read More

May 16 2008

5 Key Housing Stats: Examining the U.S. Housing Market in May 2008.

The debate has shifted in the last few months with many now feeling that the credit crisis is behind us. Many are now looking forward thinking that the worst in the housing market is here and we are now nearing a short-term bottom. However, others have likened the current environment to being in the eye of a hurricane; that is, the calm right now is very temporary and we still have a large storm heading our way. In this article we want to examine 5 key housing stats that still show major weakness in the U.S. housing market:

Read More

May 8 2008

Owners’ Equivalent of Rent: The Fed and BLS Gaming the System.

It probably won’t come as a surprise to you that consumer prices are rising at an incredibly rapid pace. If you were to only look at the Bureau of Labor and Statistics (BLS) CPI numbers you would think that inflation is hovering around 3 to 4 percent. Of course this is utterly devoid of any reality given that food, energy, and even housing prices are growing exponentially. For the average family housing is the most expensive monthly cost to their budget. Given that 67 percent of Americans own their home and the rapid rise in housing prices over the past decade, why has inflation been low?

Read More

Apr 28 2008

Rebate Checks Go Out Tonight: Too Little Too Late.

The much anticipated rebate checks start going out today. In fact, over the next few weeks $110 billion will be sent out to the American public. This week, only electronic deposits will occur with paper checks being sent out later. There seems to be a contingency of people who believe that this is enough to turn the economy positive and avoid a recession. I’m not sure how that will be the case since our employment situation is precarious at best.

Read More

Page 143 of 148« First...102030...141142143144145...Last »

Enter your email address to receive updates from My Budget 360:

100% Private & Spam Free.

Popular – All Time

  • 1. How much does the Average American Make? Breaking Down the U.S. Household Income Numbers.

  • 2. Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth.

  • 3. Is college worth the money and debt? The cost of college has increased by 11x since 1980 while inflation overall has increased by 3x. Diluting education with for-profits. and saddling millions with debt.

  • 4. The Perfect $46,000 Budget: Learning to Live in California for Under $50,000.

  • 5. Family Budget: How to go Broke on $100,000 a year. Why the Middle Class has a hard time Living in Expensive Urban Areas.

  • 6. Lining up at Midnight at Wal-Mart to buy Food is part of the new Recovery. Banks offering Mattress Interest Rates. The Invisible Recovery Outside of Wall Street.

  • 7. You Cannot Afford a $350,000 Home with a $75,000 Household Income!

  • 8. Crisis of generations – younger Americans moving back home in large numbers. Student loan default rates surging largely due to for-profit college expansion.

  • 9. The next massive debt bubble to crush the economy – 10 charts examining the upcoming implosion of the student loan market. $1 trillion in student loans and defaults sharply increasing.

  • 10. Welcome to the new model of retirement. No retirement. In 1983 over 60 percent of American workers had some kind of defined-benefit plan. Today less than 20 percent have access to a plan and the majority of retired Americans largely rely on Social Security as their de facto retirement plan.
  • Categories