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  • New Lender Guidelines To Help Struggling Homeowners
    A classic example of a drowning person, grasping at straws.
    Jun 17 13:20 pm |Rating: 0 0 |Link to Comment |View article
  • Subprime Mortgage Lessons from the Used Car Lot
    Ah, yes, it's time for another lesson in the Ways Of The South. So, "...dealers are starting to install a remote operated starter-disabling device to discipline borrowers to pay, and global positioning systems to find vehicles in need of repossession." Won't work. Southern guys are already ripping all that stuff out, and using the parts to rig radios in their cabins at the river, so they can listen to country music while they clean the catfish. Yeah, I know. You think the car won't start, with all that electronic garbage removed. Will, too. There are a large number of tech schools in the South, and it ain't all yankee transplants who graduate from 'em. And speaking of "...the inherent high risk of all auto loans," that risk gets VERY high, back along the banks and coves of rivers and streams, where all those one-lane red clay roads meander. I know. I was a repo man, in the South, for several years. I was shot at (.45 calibre pistol; 12-guage shotgun, .38 and .22 calibre pistols), I lost count of the fights I had with these guys, when I was assaulted, on repossession outings. One of those fights, by the way, was with the preacher of one of the many Baptist churches dotted all over the South. He didn't want his car repossessed, either. Usually, when all of THAT smoke cleared, there was another round of smoke, from the burning car . . But the main reason all this Harvard MBA drivel won't succeed is that local businessmen, yep, the small, very localized used car dealers, will "tote-the-note,&q... themselves, on the cars they sell. And no, the "tote-the-note&qu... guys won't bother with the electronic whizzbang stuff. They know better. Besides, in places where everybody knows everybody, most of the loans eventually get paid off, anyway. Yeah, there are a lot of late fees, refinancing fees, etc., involved, but nobody cares, as long as they get to keep the car until it's time to go back to the lot and talk with Jed, about a trade-in. What's that, you say, none of this applies to the new car dealers? Well, no, but that doesn't matter. New car sales are in the process of falling off to nothing, as you probably know. So, come on down. You can probably join a bunch of fellers heading out to catch some fish, this afternoon. But don't bring that electronic thing with you. It might cause you to get a shock.
    May 27 13:35 pm |Rating: 0 0 |Link to Comment |View article
  • Homebuilder Executive Pay Suffers Housing Slump Backlash - Housing Tracker
    Things are tough, all over.
    May 26 14:22 pm |Rating: 0 0 |Link to Comment |View article
  • BofA May Renegotiate CFC Purchase
    Even BofA's pockets are not deep enough to fix Countrywide. We're back to Square One, with this monstrous situation. There was always going to be an almost unbelievable loss coming, due to Countrywide's foolishly greedy business practices. That loss is still coming. Everybody involved in this charade is simply trying to delay the consequences until after the election.
    May 06 13:44 pm |Rating: 0 0 |Link to Comment |View article
  • Pulse of the U.S. Housing Market
    Hyman: House prices are going to fall 50%, not 35%. Keep this note, and look again, at the end of 2010.
    Mar 17 14:40 pm |Rating: 0 0 |Link to Comment |View article
  • Lost Decade for Stocks?
    sammyg123: "...it may turn out the the Iraq war was folly and not worth it at all." It's doubtful that Halliburton executives and stockholders think of the Iraq War (and some other wars) as anything more than a successful business venture, well-thought-out and perfectly executed. No, I do not own Halliburton stock.
    Mar 10 14:49 pm |Rating: 0 0 |Link to Comment |View article
  • FBI Investigating Countrywide
    One more time, it is worth noting this: WHAT GOES AROUND, COMES AROUND.
    Mar 09 14:00 pm |Rating: 0 0 |Link to Comment |View article
  • Proposals for a Depreciating Housing Environment
    Oh, please, spare me this rubbish, about what to do, now. It's now obvious that a lot of people are going to lose their asses, on these houses. It's all talk, about DOING anything. If you paid too much for that house, you are screwed.
    Feb 25 14:11 pm |Rating: 0 0 |Link to Comment |View article
  • Housing Prices Demand Correction
    The real estate professionals are suffering under the delusion that they have some kind of control over what is happening to home prices. No matter. Houses can sell cheap, now, or sell cheaper, later. All else is hot air.
    Jan 23 12:16 pm |Rating: 0 0 |Link to Comment |View article
  • BoA Buys Countrywide - Implications for Main Street
    Stop hiding from the OBVIOUS TRUTH. It's a taxpayer-funded bailout, sellout, parachute, no-punishment-for-the-... Ask yourself this question: What is there to stop the federal government and BofA from doing this? That's right: Nothing. And we will never see the back-room machinations that go into the details; we'll be buried under endless press conferences, planted news "stories" and all the other usual sugar pills. We, the taxpayers, lost, again. Chalk up another touchdown for the speculators and their puppet politicians.
    Jan 14 12:21 pm |Rating: 0 0 |Link to Comment |View article
  • BofA's Countrywide Acquisition Maximizes Long Term Potential
    "But when the cycle does turn, losses have largely been absorbed, and we (hopefully) get back to a time when you put money down and get a fixed rate mortgage to buy a home..." To this, an appropriate quote, from the Lovin' Spoonful: "And you can be sure that if you're feeling right
    A daydream will last long into the night
    Tomorrow at breakfast you may prick up your ears
    Or you may be daydreaming for a thousand years."


    Jan 13 13:08 pm |Rating: 0 0 |Link to Comment |View article
  • BofA May Acquire Legal Headaches Together With Countrywide
    Oh, for God's sake, stop the B.S. about how there may be some way BofA can lose, on this deal. It's ridiculously easy for the federal government to manuscript any kind of deal it wants, to get this political and financial Hot Potato off the front burner, and you know that. There will be NO LOSS POSSIBLE for Bank of America, on this back-room deal. If it looks like a duck, etc., it's a damned duck.
    Jan 12 12:44 pm |Rating: 0 0 |Link to Comment |View article
  • Countrywide Buyout Deal Greased From The Start
    The Olde Boy Network strikes again. Big Money does not Lose; it simply shifts the loss to the Taxpayer. Stinks, doesn't it?
    Jan 11 12:43 pm |Rating: 0 0 |Link to Comment |View article
  • BofA Deal May Not Rescue Countrywide Shareholders
    It's a rip - off, as usual. BOA gets a free bank, and the federal government reimburses (with tax money) BOA for any losses. Not complicated, at all. Don't forget; this is an election year.
    Jan 11 12:20 pm |Rating: 0 0 |Link to Comment |View article
  • The Real Story on Countrywide: Fed Behind the Deal?
    It's a whitewashed bailout. We taxpayers will have to pay for it. Again. Look, just ahead, a signpost, that reads, "Handbasket."... And just beyond that sign, another, that reads, "Hell"
    Jan 11 11:59 am |Rating: 0 0 |Link to Comment |View article

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