It’s an entirely new financial world out there today — in a single weekend, Wall Street has turned upside down.
As The Washington Post explained, two of the world’s biggest investment banks are basically about to disappear, with Lehman Bros. filing for bankruptcy and Merrill Lynch being bought by More…
Now that the government has nationalized Fannie Mae and Freddie Mac, it should step in and modify the mortgage loans of troubled borrowers on a massive scale, consumer advocates say.
Housing Wire reports that advocates are pushing the two mortgage giants to follow the lead of the Federal Deposit More…
Housing Wire weighs in today with a cautionary note on the bailout of Fannie Mae and Freddie Mac, making the same point we did in our pieces this week on loan workouts – There’s no quick fix here.
From Housing Wire:
Most analysts we spoke with suggested that
In addressing the mortgage mess, the approach of pushing lenders to modify mortgages through loan workouts continues to take center stage — despite a growing controversy over whether they get results. As foreclosures continue to rise, a political battle is heating up as well.
The Federal Deposit Insurance Corp., which More…
Maybe we’re whiners for a reason. Bankruptcy filings climbed again in August, providing more proof that people are feeling the strains of a softening economy, creditslips reports.
The August figures show bankruptcy filings have reached a post-2005 high of 4,476 filings per day, notes credit expert Robert Lawless, a More…
rss