Alt-A Mortgages were designed for borrowers with high credit scores that could not document enough income to qualify for the mortgages required for the homes they desired. Also known as liar’s loans, Alt-A’s got around issues like insufficient income, too much consumer debt, and/or alimony/child
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07/28/2009
It is no secret that California is plagued by many problems. As of June 2009, California is facing a $24 billion dollar budget deficit and rates of home foreclosures are still high. So far, state employees have taken unpaid days off, and potential ways for the state to pinch pennies offer more of
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07/17/2009
The report recently released by the Comptroller of the Currency and the Office of Thrift Supervision showed some startling numbers for the first quarter, made worse by the knowledge that anecdotal evidence shows that the numbers for the second quarter of the year will likely be worse. The problem
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07/09/2009
The combination of a complex service, desperation of homowners who want the service and a new, totally open arena with little rules leave the possibility for scammers to exploit a situation that can supply a quick score. The foremost issue for the victims of loan modification scams usually isn't
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07/08/2009
Whitney Tilson a partner at T2 Partners has just released a book titled’ “More Mortgage Meltdown” which gives a historical accounting of the current mortgage crisis, along with what to expect, and where profits can be generated during the continuing contagion. It reminded me of a T2 presentation
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05/27/2009