Category Archives: Risky Lending

Rippling through Jersey

Posted on April 10, 2007 by grim

From the Herald News: Ripple effects just starting to show Fading investments. Boarded-up homes. Job losses. Plunging property values. A risky mortgage market that boomed starting in 2000 is now crumbling. The ripple effects are far-reaching, and they are starting … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Risky Lending | 182 Comments

NJ mortgage scam hits home

Posted on April 10, 2007 by grim

From the Herald News: Mortgage scam turns 40-year dream into a nightmare for Paterson family “Are you Ms. Marshall?” Wilhemina Marshall remembers the contractor in the dark sunglasses asking, after he found her family in their temporary apartment. “We’ve seen … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 2 Comments

The faces of foreclosure

Posted on April 9, 2007 by grim

From the Christian Science Monitor: Foreclosure’s shadow falls across diverse set of US homeowners Victor Castro bought his home four years ago, expecting the move would bring stability. The Massachusetts janitor thought he would no longer move from rental to … Continue reading →

Posted in National Real Estate, Risky Lending | 112 Comments

From boom to bust

Posted on April 9, 2007 by grim

From Newsday: Readjusting mortgages As the slide in housing from boom to bust continues, congressional attention is focusing on the skyrocketing numbers of home foreclosures caused by the collapse of the “subprime,” or high-credit risk, mortgage market. It’s not a … Continue reading →

Posted in Housing Bubble, Risky Lending | 1 Comment

No insulation from subprime

Posted on April 8, 2007 by grim

From the Trenton Times: Feeling the ripple effect For months, the news from the subprime lending industry has been relentlessly negative, as more and more borrowers with bad credit have fallen behind on their monthly payments — and one lender … Continue reading →

Posted in National Real Estate, Risky Lending | 1 Comment

“If one thing goes wrong, the whole thing comes tumbling down”

Posted on April 8, 2007 by grim

From the Pocono Record: Monroe Co. foreclosures double in first quarter A big chunk of homes sold in Monroe County so far this year were houses in foreclosure. In 2006, foreclosed homes accounted for 9.6 percent of all home sales … Continue reading →

Posted in Risky Lending | 5 Comments

Condos hit by subprime shakeout

Posted on April 7, 2007 by grim

From the Washington Post: Condos Feel the Mortgage Crunch At Glen Waye Gardens Condominiums in Silver Spring, 21 owners are more than 30 days behind on their monthly condo fees. Two other owners have not paid since they bought their … Continue reading →

Posted in Risky Lending | 1 Comment

Moratorium on foreclosures?

Posted on April 5, 2007 by grim

From CNN/Money: Activists want foreclosure moratorium Housing activists say most families with high-risk mortgages whose terms are questionable should not be kicked out of their homes when they are delinquent on payments. A coalition of groups Wednesday urged lenders to … Continue reading →

Posted in National Real Estate, Risky Lending | 184 Comments

Dark clouds looming

Posted on April 4, 2007 by grim

From the WSJ: Payment Woes Worsen On Riskiest Mortgages By JAMES R. HAGERTY April 4, 2007; Page A2 The number of borrowers in the U.S. falling behind on the riskier types of home mortgages continues to grow, according to new … Continue reading →

Posted in National Real Estate, Risky Lending | 184 Comments

Subprime Sisyphus

Posted on April 4, 2007 by grim

From the Baltimore Sun: Deceptive math of subprime mortgage loans ensnares consumers The collapse of some major subprime mortgage lenders has exposed a seamy side of the consumer finance industry. What has not been exposed is the math behind subprime … Continue reading →

Posted in Risky Lending | Comments Off on Subprime Sisyphus

The house giveth, the house taketh away.

Posted on April 2, 2007 by grim

From the Wall Street Journal: Subprime Pullback May Crimp Consumer Spending By CONOR DOUGHERTY, MIKE SPECTOR and ANA CAMPOY April 2, 2007; Page A2 (no link) With subprime mortgage lenders pulling back, some working-class Americans are already finding it harder … Continue reading →

Posted in Economics, Risky Lending | 5 Comments

Scrutinzing mortgage commissions

Posted on April 1, 2007 by grim

From the NY Times: Borrowing Trouble WHEN Gregory and Paula Sherman wanted to refinance the mortgage on their ranch-style home in Chattaroy, Wash., near Spokane, in June 2003, they went to a local mortgage broker. The broker got them a … Continue reading →

Posted in Risky Lending | 1 Comment

Mortgages becoming harder to get

Posted on March 31, 2007 by grim

From the NY Times: The Battle for a Mortgage AS homeowners across the country have dealt with the declining values of their houses and their ballooning mortgage payments, most New Yorkers seem to believe that the market here doesn’t play … Continue reading →

Posted in National Real Estate, Risky Lending | 7 Comments

Subprime moves into the courtroom

Posted on March 30, 2007 by grim

From the Financial Times: Credit Suisse sues subprime lenders Credit Suisse has filed lawsuits against at least three US subprime mortgage lenders, marking an escalation of efforts by Wall Street banks to use legal action to purge themselves of bad … Continue reading →

Posted in Risky Lending | 2 Comments

Subprime bailouts come to NJ

Posted on March 29, 2007 by grim

From the Daily Record: N.J. senator wants to aid subprime borrowers A New Jersey state senator wants to create a program to help homeowners refinances mortgages they can’t afford, mirroring a similar plan in Ohio. Sen. Ronald Rice, D-Newark, said … Continue reading →

Posted in Risky Lending | 299 Comments