| The Subprime Foreclosure Crisis: How Does California Get Out?
The crisis in subprime lending will produce record levels of foreclosures. Immediate action is needed on two fronts: 1) help for current borrowers to avoid widespread foreclosures; and 2) statutory and regulatory changes to ensure that this cycle will not be repeated when the housing market turns up again. A. Help for Current Borrowers We must act immediately to help those borrowers who are at risk of losing their homes right now. A key principle of any loss mitigation strategy is to assist threatened borrowers, not to bail out lenders and investors who have facilitated this debacle. Loan Modifications and Workouts at Scale: Our highest priority should be creating a system that facilitates large-scale workouts that can help minimize foreclosures.
ERATE Expands Vast Collection of Mortgage Calculators and Online ...
Home owners and other consumers in search of financing can take advantage of ERATE's expanding and comprehensive array of nearly 20 mortgage calculators and useful tools for financial analysis. Santa Clara, CA (PRWeb) March 22, 2007 -- Consumers now have access to a greater collection of specialized mortgage calculators and online financial tools than ever before through ERATE's website. Their vast yet easy-to-use collection of tools covers everything from calculating mortgage payments, emphasizing different loan variables, to debt consolidation. "ERATE is not just about providing great rates and a high level of customer service," said Jeff Howard, CEO of ERATE (www.erate.com). "Our goal is to provide consumers with information and resources they can use to manage and meet their real estate financing objectives.
Riffing off of a typically excellent 'Credit Bubble Bulletin'
Doug Noland has a nice take on global liquidity (as usual) in the latest Credit Bubble Bulletin, "Vintage 2007". This is the first CBB I have read in many months due to an acute case of "no free time" syndrome. I realize I miss his take on things and will try to read weekly, even if just the main article which usually starts at the end of all the stats maybe 3/4 down the page. Mr. Noland is focused on the alternate methods of Ponzi finance in light of the sub-prime meltdown that has hogged the headlines even as the stock market and economy (see most recent jobs report - we will need to evaluate the bond market curves here with regard to our gold miner stance) continue to rise and boom, respectively. He mentions M&A and the ongoing commercial building boom, two pillars of the "corporate finance" bubble.
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