Having your own home can have many benefits. Apart from having a roof over your head to save yourself from getting burned under the scorching sun or from being washed away from the rain, owning any type of property would mean that it could be used as collateral during an emergency. If you suffer from some financial crisis and also are a person who has a bad credit history, borrowing the additional money you need from a bank could be a problem. When it becomes difficult to obtain a quick loan,
The Mortgage Crisis Blog Mortgage Crisis
von Lee E. Ohanian * What started the Great Depression? This column says that the industrial decline began before monetary contraction or banking panics – the conventional culprits – took hold. It attributes the massive drop in manufacturing hours to President Hoover’s labour policies, which kept nominal and real wages high. Our current crisis continues to draw parallels to the Great Depression ( Eichengreen and O’Rourke 2009 ) and has refocused attention on the 1930s. Several fea
The Mortgage Crisis Blog Mortgage Crisis
Oct 21, 2009 -Market oracleBy: Jim_Willie_CB The US Federal Reserve continues to talk about their urgent Exit Strategy. My theory is they will be doing mostly talking and almost no doing. The nations that talk the least will be hiking interest rates the most, like Australia. The United States might be dead last in hiking interest rates. The credibility of the USFed will in the process continue to be harmed much more than already, which is rock bottom. The Dollar Carry Trade and the lost Petro-Do
The Mortgage Crisis Blog Mortgage Crisis
Avoidable Foreclosures Continue Despite Servicers’ “Loan Modifications” (PDF; 46 KB) Source: National Consumer Law Center Why have several recent programs designed to encourage loan modifications failed to slow America’s still-worsening home mortgage foreclosure crisis? A new report from the National Consumer Law Center (NCLC) discloses that mortgage servicers – including many large banks – have found it cheaper to foreclose on homeowners than to offer loan modifications that would benefit home
The Mortgage Crisis Blog Mortgage Crisis
The US dollar is a sort of monetary brand. And like any other brand, it can fall out of favor. Even iconic brands can rapidly lose their “must-have” caché. Sometimes, a brand can disappear entirely, as did Pan American Airways or “Members Only” jackets. But there is always something else waiting to take its place. So it is with the US dollar, a brand making lows in the financial markets. The dollar has been the “Coca-Cola of monetary brands,” says James Grant, editor of Grant’s Interest Rate O
The Mortgage Crisis Blog Mortgage Crisis
