Posts in category "Lenders"

Housing Bubble 2.0: Predatory Lending Is Back

Housing Bubble 2.0: Predatory Lending Is Back
The popular narrative about the financial crisis/ housing bubble is that predatory lending practices tricked unsuspecting consumers into buying homes they couldn’t afford, driving up home prices to unsustainable levels in the process. Then when home prices inevitably went down the lenders took homes away from these people, making billions of dollars in exorbitant profits... Read more »

Are We Heading Towards Another Mortgage Crisis?

Are We Heading Towards Another Mortgage Crisis?
Tuesday night I saw the trailer for The Big Short, which is based upon the book about John Paulson who made close to $4 B on the mortgage crisis by buying insurance contracts on subprime mortgages. It looks like it’s going to be a great movie and I loved how they used Led Zeppelin’s When... Read more »

Chicago Home Prices Falling 2%+ Per Month; More Homes Underwater

Not to diminish the tragedy in Memphis but a ton of homes are underwater in Chicago too. Zillow came out with their first quarter report yesterday and they are claiming that almost 46% of area homes are underwater at this point – i.e. the homeowners owe more money than the home is worth. Now don’t... Read more »

All The Confusion About Foreclosure Procedures Is Very Confusing

As you probably have heard there is a lot of concern lately about several banks that may have improperly foreclosed upon certain homes. The big names in this fiasco are Bank Of America, JP Morgan Chase, GMAC, and PNC Financial. These banks are so concerned about whether or not they have the proper procedures in... Read more »

Bank Of America To Give Away Money

If you loaned your brother-in-law $10,000 to buy a car and he spent that money on a car that was only worth $5,000 and then when he realized what he had done he decided he wasn’t going to pay you back…what would you do, assuming breaking his kneecaps is not an option? Well, as painful... Read more »