By The Tim on November 18, 2008
Kirsten Grind had an interesting piece about local banks in the Puget Sound Business Journal last Friday: Bad loans rising at Washington banks
Bad loans are up dramatically at Washington state banks, surpassing the national average and reaching levels that local banking experts say are unprecedented.
…
Washington banks historically have seen lower levels of problem loans than [...]
Posted in News | Tagged banks, Business Journal, Grind, loans, Seattle_is_special
By The Tim on November 11, 2008
Here are the basics of the latest mortgage bailout initiative from Fannie Mae and Freddie Mac that was announced today by the Federal Housing Finance Agency.
To qualify, borrowers must:
Have a loan owned or guaranteed by Fannie or Freddie.
Owe 90% or more than the home is worth.
Be 90 days or more behind on payments.
Demonstrate financial hardship.
Not [...]
Posted in News | Tagged bailout, Fannie, FHFA, Freddie, government_meddling, loan modification, loans
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