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Tag Archives: negative equity
Underwater Mortgages a Threat to Recovery; Expect No More Than 3% Growth Until Housing Recovers
Given the renewed housing bust what might one expect going forward?
A senior economist for Wells Fargo believes it is unreasonable to expect more than 3% growth going forward as long as housing remains deeply underwater. Continue reading
Posted in Economic News, Fresh Perspectives
Tagged GDP, Home Prices, negative equity
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California is Wasting Mortgage Relief on HELOC Abusers
WTF? Why would we want to bail out people who were abusing their HELOCs after the property crash? Have we learned nothing? Are houses and HELOCs truly free money? Continue reading
Posted in Fresh Perspectives, Home Economics, Mortgage News
Tagged california, HELOCs, Loan Modifications, negative equity
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Principal reduction programs and unintended consequences
Are principal reductions on their way? Some form of it might be. Who will get the free money coming? Continue reading
Report: Shadow Inventory Declines Slightly
CoreLogic (NYSE: CLGX), a leading provider of consumer, financial and property information and business services, reported today that the current residential shadow inventory as of January 2011 declined to 1.8 million units,representing a nine months’ supply. Continue reading
FDIC “Cash for Keys” Proposal Would Pay Underwater Homeowners $21,000 to Walk Away
The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis. Continue reading