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Housing

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 It is very simple.  Cut your interest payment on the home you are paying on. When you purchase a house for $200,000 you agree to pay over thirty years at five or six percent interest.  This means you agree tp give up $400,000 to

Letters to the Editor • Global
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Market-ticker.denninger.net

If the pending buyers did not lock rates, they are about to come to the closing table and find out that they cannot qualify any more with the more than one percent increase in rates (from ~4.75% to ~5.75%) over the last week.

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NYtimes.com/

But overly onerous payments are only part of the problem. For 15.4 million “underwater” borrowers — those who owe more on their mortgages than their homes are worth — a lack of home equity puts them at risk of default

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Michael Shedlock / Mish

She said that in talking with servicers, she's hearing other debt is so high that most of today's troubled borrowers cannot afford any loan payment at all, even at a very modest debt-to-income ratio. 'Just getting the house payment done doesn't mean their lifestyle...

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Bloomberg

For the first time since another Democrat occupied the White House, investors from Beijing to Zurich are challenging a president’s attempts to revive the economy with record deficit spending. 15 years after forcing Bill Clinton to abandon his own sti

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Michael Shedlock / Mish

This is the desperation move that overworked, understaffed mortgage divisions have to make in order to salvage what can be salvaged. Kicked aside could be at least half of their past two month’s of unlocked, unfunded originations that may ultimately

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online.Barrons.com

We're out of the eye of the hurricane, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in

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Ritholtz.com/blog

Sales of new one-family houses in April 2009 were at a seasonally adjusted annual rate of 352,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

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NY Times

Every weekday morning, Lou Jarvis drives around looking for a family that will lose its house in a foreclosure auction within a few hours. When he wins, he offers to let the family rent their house for much less than their mortgage payment.

News Link • Global Reported By Trouser Chili
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NY Times

As job losses rise, growing numbers of American homeowners with once solid credit are falling behind on their mortgages, amplifying a wave of foreclosures. In the latest phase of the nation’s real estate disaster, the locus of trouble has shifted fro

thelibertyadvisor.com/declare