Interesting story from Kirsten Grind over at the Puget Sound Business Journal: Experts see more subprime-loan pain ahead
Another big wave of subprime mortgages will see interest rates reset to a much higher rate over the next six months in the Seattle area, an indication that the Puget Sound region might still be facing further economic [...]
Entries Tagged as 'Financing'
Tens of Thousands of Subprime Loan Resets Coming to Seattle
August 25th, 2008 · 53 Comments
Categories: News
Tags: Business Journal, Financing, foreclosures, Grind, subprime
Sagging Market Delays Another Condo Project
May 22nd, 2008 · 7 Comments
Is this the first sign that downtown Bellevue has reached its condo saturation point? Seattle Times: Bellevue condo project, European Tower, put on hold
The housing slowdown has claimed another local high-rise, high-end condo project.
The developer of 16-story European Tower, a downtown Bellevue project whose design features just one unit on each floor, said Wednesday [...]
Categories: News
Tags: Bellevue, condos, developers, Financing
WaMu Cuts Home Equity Credit + More Financing News
May 19th, 2008 · 15 Comments
The Puget Sound Business Journal reported Friday on some more news from WaMu that is likely to affect local homeowners.
Washington Mutual Inc. has slashed or suspended $6 billion in available home equity credit to its customers in an effort to reduce its risk in a flailing housing market.
If they haven’t already been notified, WaMu’s customers [...]
Categories: News
Tags: Financing, home equity, lending, mortgages, WaMu
The Nature of the Mortgage Crisis
May 15th, 2008 · 41 Comments
My favorite personal finance blog Get Rich Slowly gave me a heads up earlier this week about an excellent radio piece that you should make the time to listen to.
It’s titled The Giant Pool of Money, and you can download the mp3 for free through the 18th of this month. They interview a handful [...]
Categories: News
Tags: Financing, mortgages, subprime
More Bad News for WaMu
April 16th, 2008 · 63 Comments
How about a few more WaMu updates. The (bad) news seems to keep coming for the Seattle-based bank.
First up, a look back at how WaMu got itself into this mess, courtesy of the Seattle Times: Where WaMu went wrong. This article has its own thread in the forums, so be sure to check [...]
Categories: News
Tags: banks, Financing, mortgages, WaMu
Bill Virgin: Homeownership has been oversold
March 27th, 2008 · 44 Comments
Over at the P-I earlier this week, Bill Virgin chimed in on the housing mess again with yet another well-reasoned column: Homes are good investments, not slot machines or ATMs.
In the great American sport of finger pointing and blame shifting, a new villain has emerged to explain the mortgage-finance crisis.
The fault, it turns out, lies [...]
Categories: Opinion
Tags: affordability, economy, Financing, Virgin
