Tuesday, January 5, 2010
GMAC Says Lender Will Post $5 Billion Quarterly Loss
GMAC Says Lender Will Post $5 Billion Quarterly Loss: "' GMAC Inc., the auto and home lender bailed out by the U.S. government three times, said its combined fourth-quarter loss was about $5 billion as the company tried to stanch losses from mortgages.'"
Monday, January 4, 2010
Foreclosures Send Home Appraisals Plummeting
Foreclosures Send Home Appraisals Plummeting: "
Across the country, agents and homebuilders are complaining too many appraisals are coming in low, scuttling deals.
The National Association of Realtors says nearly one in four of its members has reported clients losing a sale due to botched appraisals. The National Association of Home Builders, meanwhile, said low appraisals were sinking a quarter of all new home sales and argues it's not fair to compare distressed properties to brand-new homes.
"HAFA" - Foreclosure Warning Dead Ahead! - The Market Ticker http://ow.ly/SP5V Wait til they get a-load-a this... buyer be ready!
Bernanke: Exotic Mortgages Caused Housing Bubble
Bernanke: Exotic Mortgages Caused Housing Bubble: "Fed Chairman Ben Bernanke noted in a speech yesterday that an increase in exotic mortgages, not monetary policy, was the cause of the latest housing bubble.
Though the most rapid home price appreciation occurred when short-term interest rates were at their lowest levels, Bernanke argued that the “magnitude of house price gains seems too large” to [...]
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Though the most rapid home price appreciation occurred when short-term interest rates were at their lowest levels, Bernanke argued that the “magnitude of house price gains seems too large” to [...]
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Sunday, January 3, 2010
@auburnalprops @IanWatt @GetOnFast http://ow.ly/SlgW Updated my WRSM blog page, let me know what you "pros" think... thanks gentlemen!~
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