Link
# # #
OBAMA TO ORDER LENDERS TO DROP MORTGAGE PAYMENTS FOR JOBLESS
A couple of hours after we wrote a short article (below) on home loan defaults and said that the problem now is that many of the bad loans are in poor
areas where job prospects are low, we ran across the above linked article that essentially says the same thing that we did but in a more PC way.
areas where job prospects are low, we ran across the above linked article that essentially says the same thing that we did but in a more PC way.Folks, visit poor ethnic neighborhoods in Santa Ana, Riverside, San Bernardino or Los Angeles and you'll see several "Bank Owned" foreclosure signs on almost every street.
The U.S. is going to keep having serious economic problems until we reindustrialize.
Obama really is taking us in a socialistic direction with central control over everything. This, coupled with too many regulations--environmental and otherwise--on businesses, is going to lead us into an ever deeper financial hole.
Folks, we're on a trajectory for a depression and then a war to try to pull us out of the depression. Is this inevitable? No, but that's what our tea leaves are showing us.
# # #
ALWAYS BIGGER AND BETTER U.S. NOT SO MUCH ANYMORE
(Here's another example)
The CM PRESS often writes about the world's biggest machine, the Large Hadron Collider in Europe. The LHC is about 17 miles around and is designed to produce energies up to 7 TeV.
What we haven't previously mentioned is the fact that in 1993 the U.S. cancelled a project that had started in the 1980's, and which had cost several hundred million dollars before being stopped, to build a Superconducting Super Collider near Waxahachie, Texas that was to be 54 miles in circumference and which was designed to produce up to 20 TeV.
# # #
GEE
Z, HOW'D WE GET ON THAT LIST?
The CM PRESS has received four telephone calls in the last two days from an outfit that wants to automatically connect us to Senator Boxer's telephone so we can tell her that we want "amnesty for hard working immigrants." LOL
# # #
MORE THAN HALF OF U.S. HOME LOAN MODIFICATIONS DEFAULT AGAIN
Link
And, even more will default in the next few months.
The underlying problems in our economy haven't been fixed and many of the defaulting homebuyers are in poor areas where the job prospects have gotten even worse.
In addition, many of these buyers got these loans without having adequte income to service the debt.
But, under various schemes set up by the feds (as we previously reported) who put out the word that lenders should stop "racist" lending and give loans to under-qualified minorities to give them a stake in their communities, many lenders bent over backwards to make such loans.
Now, the chickens are coming home to roost.
Here's one of the traditional ways to determine if a home buyer can qualify for a loan and pay it back. In many cases this wasn't being done in the last few years as we outlined above: Take your annual gross income, multiply this by .28 and divide by 12. That'll give you the amount of money you can safely pay towards your PITI each month.
# # #
FRANCE TO BAN THE MUSLIM VEIL
(And put women in string bikinis, er, this last part is a joke.)
Link
# # #
EUROCOPTER CRASHES IN TENN. THREE DEAD
Link
The Costa Mesa PD flies Eurocopters.
# # #
Those are our opinions. Thanks for reading them.
(Here's another example)
The CM PRESS often writes about the world's biggest machine, the Large Hadron Collider in Europe. The LHC is about 17 miles around and is designed to produce energies up to 7 TeV.
What we haven't previously mentioned is the fact that in 1993 the U.S. cancelled a project that had started in the 1980's, and which had cost several hundred million dollars before being stopped, to build a Superconducting Super Collider near Waxahachie, Texas that was to be 54 miles in circumference and which was designed to produce up to 20 TeV.
# # #
GEE
Z, HOW'D WE GET ON THAT LIST?The CM PRESS has received four telephone calls in the last two days from an outfit that wants to automatically connect us to Senator Boxer's telephone so we can tell her that we want "amnesty for hard working immigrants." LOL
# # #
MORE THAN HALF OF U.S. HOME LOAN MODIFICATIONS DEFAULT AGAIN
LinkAnd, even more will default in the next few months.
The underlying problems in our economy haven't been fixed and many of the defaulting homebuyers are in poor areas where the job prospects have gotten even worse.
In addition, many of these buyers got these loans without having adequte income to service the debt.
But, under various schemes set up by the feds (as we previously reported) who put out the word that lenders should stop "racist" lending and give loans to under-qualified minorities to give them a stake in their communities, many lenders bent over backwards to make such loans.
Now, the chickens are coming home to roost.
Here's one of the traditional ways to determine if a home buyer can qualify for a loan and pay it back. In many cases this wasn't being done in the last few years as we outlined above: Take your annual gross income, multiply this by .28 and divide by 12. That'll give you the amount of money you can safely pay towards your PITI each month.
# # #
FRANCE TO BAN THE MUSLIM VEIL
(And put women in string bikinis, er, this last part is a joke.)
Link
# # #
EUROCOPTER CRASHES IN TENN. THREE DEAD
Link
The Costa Mesa PD flies Eurocopters.
# # #
Those are our opinions. Thanks for reading them.
Federal judge strikes down Farmer's Branch, TX rental ordinance, stating that it was unconstitutional, and that enforcing immigration laws is the federal government's job. Fortunately, assiting ICE pursuant to an established program does not fall into this category. http://media.nbcbayarea.com/documents/Farmers-Branch+-+Boyle-Order.pdf
ReplyDelete