Tag Archives: losses

Cutting Mortgage Losses

From Manchester in the UK: In 2007 we spent an average of 17.8 per cent of our income on mortgage interest payments, according to the Council of Mortgage Lenders (CML), compared with just 11.6 per cent five years before. 1 … Continue reading

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Home Equity Doldrums

Are your bonds backed by home equity loans? How does anyone know how much they are really worth? The decline in the value of such loans is unprecedented. Here’s a report: Credit ratings agency Standard & Poor’s said Thursday it … Continue reading

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Israeli Bank Trying To Sell Its Mortgage Portfolio

Haaretz reports on a troubled Israeli bank — Hapoalim. It appears to be up for sale. It wants to sell its mortgages and is willing to take a $1 billion loss. Ouch. The Jews may have invented banking but they … Continue reading

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I’ve Got Downey, First Federal, Washington Mutual, Fremont On My Death Watch

You’ll show up one day and there’ll be a notice that this bank has been taken over the FTIC and if you have money there, it’ll take a couple of days to get it. Or Bank of America buys them … Continue reading

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What Do You Want To Know About Home Insurance?

Here’s a complete and thorough rundown from CNN Money: 1. You’re a statistic. To an insurer, you’re not a person; you’re a set of risks. An insurer bases its premium (or its decision to insure you at all) on your … Continue reading

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Fed Cuts Rates, But 30-Year Mortgages Rise

From the Boston Globe: The Federal Reserve keeps cutting interest rates, but interest rates on mortgage loans aren’t falling. Just the opposite. The chart above, from the front page of today’s Globe, shows the pattern nicely. The basic reason is … Continue reading

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