True Foreclosures
Are banks hiding from us the true picture of the mortgage crisis? Afre foreclosures on Small Businesses next?
We are seeing the subprime shake out, and if we are in a cyclical cycle, businesses have to close behind.
Your concerns are my concerns.
I have been arguing this issue starting about a year ago.
The stock market never gave the sub prime and subsequent credit problems much consideration, seeing how the Dow Jones just forged ahead while big banks were reporting loan problems.
I often refer back to the early 1990′s, when banks were dropping like flies and their loans were deteriorating.
It’s possible we can see a replay of the early 1990′s now, but I can’t say for sure or if it will be as severe.
I do know that many banks are now reporting losses and shoring up capital for loan loss provisions, etc. When I hear these same terminologies as they’ve used in the early 1990′s, I have to be cautious on the outlook for the entire stock market.
Problems like these don’t simply go away in a flash.
I do know first hand of people who have bought homes priced way out of their means, are now facing foreclosure, and are ignoring letters being set to them.
If enough people do this, it has to have a harmful effect on the entire market, because housing and credit play a big part in the market of stocks.
Whether the banks are reporting true figures today is also cause for concern, because so many have scaled down operations while combining with other banks, that it’s conceivable that they are not in tune with reality anymore, and may very well be caught up in an Enron type of mismanagement.
Caution, my friend. I am very cautious, and very happy that I moved my money recently into safe, low yielding bonds.
I now can sleep like a baby.
Most likely, when everyone gets their next statements soon, they may not be able to sleep as well as I do.
Real People, Real Stories: Avoid Foreclosure Rescue Scams
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Iron Will $5.95 Features include: •MPAA Rating: PG•Format: DVD•Runtime: 108 minutes… |
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How to Commit Short Sale Fraud . . . and Get Away with It Short sale fraud is the real estate fraud of this decade and the amounts involved are staggering. Anybody who has had his or her home equity stripped by a neighbor committing short sale fraud knows this painfully well. âHow to Commit Short Sale Fraud . . . and Get Away with Itâ is an exposé into this dark side of the real estate industry that the banks, crooked real estate licensees a… |
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Penny Over: True Adventures of Buying Foreclosures in a Man’s World $14.58 True Adventures of Buying Foreclosures in a Manâs World These real life âhouse flippingâ stories will have you on the edge of your seat and laughing out loud. From the trustee sale antics to FBI investigations and even a citizenâs arrest, Mary Ann offers a no holds barred look at buying foreclosures at trustee sales and the competitive nature which brings out the creative spiri… |
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Inferno of Fraud: A Foreclosure Fraud Victim’s True Story $12.99 The heroic struggle to save a property from unscrupulous elements in the mortgage industry… |
