From the category archives:
In my latest dispatch from the debtor’s revolt, we’ll look at how walking away from a mortgage can lead to more nightmares for underwater homeowners.
From Bloomberg: Lenders Pursue Mortgage Payoffs Long After Homeowners Default
When John King stopped making payments on his home in Coral Gables, Florida, two years ago, he assumed the foreclosure ended his [...]
You know I’ve been talking about the Debtor Revolt for months, and it was one of my “5 Forces That Will Shape and Shake the Markets in 2010″, a presentation I gave exclusively to my subscribers last month.
Well, it’s starting to get into the mainstream press. Here’s Robert Shiller in the Wall Street Journal today [...]
The Debtor’s Revolt is not only gathering momentum, it’s also going mainstream. Check out this story from the Wall Street Journal …
Debtor’s Dilemma: Pay the Mortgage or Walk Away A growing number of people in Arizona, California, Florida and Nevada, where home prices have plunged, are considering what is known as a “strategic default,” walking [...]
I’m about to tell you something anecdotal, but it tells me that the mortgage system is truly broken, and mortgage lenders are doomed.
We had some wonderful neighbors who moved to a new neighborhood at the height of the housing bubble. They paid about $420,000 for their new home.
Now, the bubble has imploded. A home on [...]
Sorry for the late post, but I had to send out new trades to Red-Hot Global Small-Caps and Red-Hot Commodity ETFs. If you’re a subscriber to either service, check your inbox.
Gold is flat today even as the dollar continues to slide. Is this telling us something? Damned if I know. Silver continues to outperform, and [...]
World Bank Offers Dire Forecast for World Economy
In a bleaker assessment than those of most private forecasters, the World Bank predicted Sunday that the global economy would shrink in 2009 for the first time since World War II.
The World Bank also warned that global trade would contract for the first time since 1982, and that the [...]
See the following Bloomberg article about Trust Preferred Securities … http://www.bloomberg.com/apps/news?pid=20601110&sid=a3e_k0Gedi9k
Trust Preferred Securities are a hybrid security with characteristics of debt and equity investments, thus placing them higher than shareholders in the pecking order of creditors who get paid in the event of a bank failure. However, the nature of these securities allow interest payments [...]
See the following Bloomberg article about Trust Preferred Securities … http://www.bloomberg.com/apps/news?pid=20601110&sid=a3e_k0Gedi9k
Trust Preferred Securities are a hybrid security with characteristics of debt and equity investments, thus placing them higher than shareholders in the pecking order of creditors who get paid in the event of a bank failure. However, the nature of these securities allow interest payments [...]
Treasury Secretary Timothy Geithner is due to announce a plan to draw private investors into a U.S. financial rescue package aimed at reducing the toxic assets many commercial banks have on their balance sheets.
In a markedly different approach from the previous administration, Geithner aims to spur the flow of credit through the economy once again [...]
