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Foreclosure Epidemic
Last year, I had a little money to invest so I made an investment to educate myself in the mortgage industry in order to become a loan officer. First of all, this was a new field for me, because, my training...
2 commentsCrook Alert--Countrywide--Enron's Second Coming? by Paul Krugman
In his column this morning (10-1-07) Paul Krugman says that "It appears that Mr. Mozilo (Countrywide's CEO who paid himself $142 million last year) achieved the rare feat of victimizing three distinct...
4 commentsA New Mortgage Crisis
What is the New Crisis A recent video by 60 Minutes brought light of the fact that there’s much more to the subprime mortgage crisis than we know about. A good portion of those having the 3/1...
2 commentsHow The Real Estate Mess Impacts Student Loans
First it was the sub prime mortgage mess. Then came rising problems with auto loans and credit card debt. And now, the latest sector to feel a credit squeeze is the student loan market. College students still...
0 commentsCrook Alert--Can these Mortgages Be Saved? by Gretchen Morgensen in the NYT
Gretchen Morgensen exposes the misleading claims and seedy practices of Countrywide Financial Corporation, the nation's largest home mortgage originator and servicer. The company has made innacurate public...
0 comments9-19-08 Crisis End Game--Paul Krugman NY Times
Op-Ed Columnist Crisis Endgame By PAUL KRUGMAN Published: September 18, 2008 On Sunday, Henry Paulson, the Treasury secretary, tried to draw a line in the sand against further bailouts of failing financial...
29 commentsForeclosure Alley, a Sad Video
Foreclosure Alley Trashouts Foreclosures are dominating the real estate market in Southern California. 700 families lose their homes every day.IRS Q & A on Foreclosures Foreclosure Statistics One in 200 homes...
4 commentsCrook Alert!! Wells Fargo and HSBC Accused of Steering African Americans with Sterling Credit Ratings to Subprime Loans
NAACP accuses Wells Fargo and HSBC of steering well-qualified blacks into subprime loans - Los Angel The NAACP is accusing Wells Fargo and HSBC of forcing blacks into subprime mortgages while whites with...
6 commentsThe Dirty Secret Behind our Global Financial Crisis
FWMD While sub-prime home mortgage defaults have taken most of the blame for the US and worldwide financial crisis, a far larger problem is only now coming into focus. The next crisis is already...
1 commentHow Mortgages Began
In order to understand mortgages, it is best to start with their history and where the idea of a mortgage actually came from. It all began as far back as the 12th Century, when creditors were protected by law...
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