Archive for August, 2007

Real Estate Investing and Housing Trends The subprime mortgage meltdown has not only hurt homeowners and investors, but thousands of people are losing their jobs at mortgage companies. Here's the dirty details: More than a dozen mortgage companies have gone bankrupt this year as lenders cut off credit lines and investors who buy the loans stopped bidding...
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Real Estate and Housing Trends Homeowners in many US states continue to become casualties as their homes go into foreclosure and their property values sink.  This is according to RealtyTrac Inc. in Irvine, California, who just released foreclosure data for July. It's Really Ugly Out There As more of those risky, but alluring teaser-rate, adjustable mortgages...
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Real Estate Investing and Housing Trends Update As Gomer Pile would say, "Surprise, surprise, surprise!" The US Federal Reserve unexpectedly approved a cut in its discount rate on loans to banks by a half percentage point from 6.25 percent to 5.75 percent.  This action has been taken after the Fed has poured billions of dollars...
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Real Estate and Housing Trends The biggest U.S. mortgage lender, Countrywide Financial Corp., was downgraded to a "Sell" by Merrill Lynch & Co., today due to more fallout from the credit crunch.  Could bankruptcy soon follow?  "Effective insolvancy" would happen if creditors force Countrywide to sell assets at depressed prices or investors lose confidence in...
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Real estate and housing trends Home builders are hurting from the housing bubble pop in more ways than just soft sales and land aquisition write-offs.  Case in point, Beazer Homes based in Atlanta, is in trouble with the law, namely the U.S. Securities and Exchange Commission and the FBI. I'm sure the heads of Beazer Homes...
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