If you haven’t heard, Washington Mutual (WaMu) is the latest and biggest bank to fail. The had put themselves on the block last week, but many industry folks had been waiting for them to fail for months. They have been carrying a LOT of bad debt and debt that looked like it would go belly up. They had a HUGE percentage of mortgages that were sub-prime, escalating and/or negative amortization… as well as Adjustable.
Category Archives: foreclosure
Get the good credit you deserve…
- Thursday, 25 September 2008 16:53
- Written by Lane Bailey
- 0 Comments
Driving home this afternoon I was behind a small SUV that had an advertisement for a “credit repair” firm on the back. And that was specifically what the sign said:
Get the “Good CREDIT” you DESERVE
And as I drove along, I was thinking about that… it brought up a point:
Do you DESERVE good credit?
Interesting article…
- Monday, 22 September 2008 22:57
- Written by Lane Bailey
- 0 Comments
The best thing to do would be to read it before reading the date.
The Trillion Dollar Bank Shakedown That Bodes Ill for Cities
If you get curious, here are the Wiki entries for two of the mentioned entities. One Two
They aren’t the only cause for the current credit/confidence crisis… but they are a biggie.
Real Estate up? Real Estate down?
- Saturday, 20 September 2008 22:07
- Written by Lane Bailey
- 0 Comments
I have been looking at the impacts from the proposed bailout… I see three possibilities:
It’s a Dirty Job, and nobody has to do it…
- Wednesday, 13 August 2008 22:13
- Written by Lane Bailey
- 1 Comment
There were a couple of posts on Active|Rain today that reminded me of a situation I encountered a couple of years ago. It was a short sale/foreclosure. Let me summarize the posts that made me think about this…