Category Archives: Bad Credit

Economist Thomas Sowell Examines The Housing Boom & Crash

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. Read On For more than a decade, US newspapers have editorialized that banks are more conservative than they should be about lending money to blacks. … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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Public – Private Partnership To Buy Banks’ Troubled Assets

The U.S. Treasury will unveil a plan this week for banks to sell off their troubled mortgage assets. This comes a year after Congress allocated $700 billion for this purpose. The NYT: Treasury officials said that five out of the … Continue reading

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Democrats Considering Shielding Banks From Tougher State Laws

The Washington Post reports that Democrats are considering a bill “to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.” This approach differs from that of President Obama. He wants to give states a … Continue reading

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What Caused The Housing Boom & Bust?

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. From 2000 to 2005, the average home price in the United States increased by one-third. Millions of Americans began using their homes as ATMs, getting … Continue reading

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William D. Cohan’s New Book: House of Cards: A Tale of Hubris and Wretched Excess on Wall Street

Click here to see the book on Amazon.com. Bear Stearns and Lehman Brothers had huge investments in securities backed by home mortgages, a market with rising defaults and collapsing home values. Unlike banks, which loans out money it gets from … Continue reading

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Thomas Sowell’s New Book: The Housing Boom and Bust

Check out the book on Amazon.com. Economist Thomas Sowell appeared on Dennis Prager’s radio show May 27: Tom: If the results weren’t so serious, all this would make a great Gilbert & Sullivan musical, with all the mutually contradictory statements … Continue reading

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Saving Lenders

I enjoy Jack Guttentag’s columns on mortgages in the Washington Post. Last week he explained why increasing capital requirements for lenders won’t reduce the risk and severity of financial crises. There are just so many ways lenders can get around … Continue reading

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Refinancing With A Low Credit Score

From Best Syndication: It is sometimes very difficult to refinance your home loan if your credit is not in good stance. However, it is still feasible to obtain a refinance home loan with a damaged credit history and following are … Continue reading

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Buying A Home With Bad Credit

From Newsweek in August 2007: "Everyone was getting loans. People with worse credit than me, even." But the once booming housing market is now foundering in many cities, largely because buyers with shaky credit scores like Miller’s have been defaulting … Continue reading

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