By The Tim on September 18, 2009
Three facts:
Nearly 7% (and rising) of FHA loans are currently in default (source).
The FHA has cash reserves of less than 2 percent (and falling) of the total value of loans they guarantee (source).
FHA currently makes about 23% (and rising) of all mortgages in the USA (source).
Here are those first two points presented graphically:
I’m trying to [...]
Posted in News | Tagged bailout, FHA, foreclosures, subprime
By The Tim on March 9, 2009
A couple people forwarded me a link to a 116-page pdf titled An Overview of the Housing/Credit Crisis And Why There Is More Pain to Come that is worth checking out.
Here’s a look at the table of contents:
Overview of the Great Mortgage Bubble
Causes of the Great Mortgage Bubble
Consequences of the Bursting of the Great Mortgage [...]
Posted in Economy | Tagged Economy, mortgages, pdf, predictions, subprime
By The Tim on August 25, 2008
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 [...]
Posted in News | Tagged Business Journal, Financing, foreclosures, Grind, subprime
By The Tim on June 13, 2008
Last week the Puget Sound Business Journal ran a piece comparing King County to San Diego County. It was behind a subscriber-only wall, but now it’s fully available on their website: How King County dodged mortgage mess compared to San Diego. Unfortunately, the article doesn’t really have any new material that regular readers [...]
Posted in News | Tagged Business Journal, California, construction, Grind, subprime
By The Tim on May 15, 2008
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 [...]
Posted in News | Tagged Financing, mortgages, subprime
By S-Crow on November 30, 2007
The Sun Sentinal article:
“In an effort to halt what one official called ‘an investment world version of a run on the bank,’ state officials froze withdrawals Thursday from a $27 billion investment fund that local governments drained by almost half during the past two weeks.” (bold type by me for emphasis)
“‘It is certainly unprecedented, [...]
Posted in News | Tagged lending, mortgages, S-Crow, subprime
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