That is the guess of  a Washington Think tank based on the Case-Shiller home price index, as reported in today’s Los Angeles Times.
Supposedly, this will complete the deflation of the housing bubble started by Mr. Greenspan.
This will put more homes underwater, worth less than the amount of the mortgages borrowed against the house.
This writer has [...]

Popularity: 20% [?]

As the Fed has pumped up the money supply, prices are inevitably rising.
Gas, now food, increasing first.
With mortgage-home equity borrowing having dried up, it seems people are using credit card debt to make up the difference.
This is not a good strategy. You cannot borrow your way out of a [...]

Popularity: 16% [?]

     Mortgage companies routinely ignore Chapter 13 bankruptcy law.
You complete your plan payments, believing you are once again current with the mortgage, having accomplished your goal.
But then, you get a notice from the mortgage company, claiming you still owe them thousands of dollars.  Or, worse still, you just get a notice of a foreclosure sale [...]

Popularity: 46% [?]

     As readers of this blog know, the Greenspan bubble that led to the sub-prime crisis was not a secret.
Of course, Chairman Al is not out of excuses.  I think we should all adopt one of them, the “I got a hand-written exoneration note, after the public criticism, from the guy who is now dead” [...]

Popularity: 23% [?]

This blog has consistently railed against bailing out the banks and mortgage companies that caused the sub-prime crisis, now spreading throughout the world economy.
As panic slowly spreads, the calls from the banks and mortgage companies for Federal money become deafening.
“Too big to fail” is one of the arguments for helping [...]

Popularity: 27% [?]

Realize that all debts means: all debts.
Clients edit what their attorneys ask them, without telling us.
“I did not think the water bill was a debt. Well, gas and electric, those are utilities, those aren’t covered by bankruptcy law, are they? Well, I didn’t tell you about that one [...]

Popularity: 15% [?]

         Negative equity, owing more on what you are buying than it is worth, has skyrocketed on homes, thanks to declining real estate values on top of the bad loans extended by greedy lenders.  This contributes greatly to the sub-prime mortgage crisis.
The same thing is happening with vehicles.  Same cause, lender [...]

Popularity: 36% [?]

     I hate to sound like a broken record, especially at holiday time, but, those with more expertise than I are voicing the same opinion, the sub-prime mortgage crisis has started the dominoes falling toward recession, which always brings more bankruptcies.
The sub-prime mortgage crisis has spread, throughout the world financial system.
The Federal Reserve Board, European [...]

Popularity: 32% [?]

The sub-prime mortgage crisis has the attention of many, but credit card defaults are rising, up 30%.
A study of the new bankruptcy law accurately reports that the new law has doubled the cost to consumers to file, whether Chapter 7 or Chapter 13.
The article reporting the study says the [...]

Popularity: 34% [?]

The HUD website actually has some good advice about handling foreclosure.
If you are facing foreclosure, it is a stressful time.
Con men and hustlers know how to prey on people in that situation, how to gain the confidence of people in crisis.
Frequently, they say they want to help you, because [...]

Popularity: 24% [?]