In what is becoming a common occurrence in the securities and investing world, a top bank has bailed out a struggling division with a huge cash injection. Dresdner Bank has bailed out its K2 fund to repay all of its senior debt because of the funds incredible $32 billion loss last year.
What does this signal […]

When asked about his outlook on the future of the mortgage market, Goldman Sachs CEO Jan Hatzius, estimates a loss of $400 billion over the next year.
He thinks the mortgage market overall will have a huge impact on the economy as a whole. Soon other sectors may start to feel the crunch of this credit […]

It looks like getting a free quote online is the new standard for shopping for the new house. As more and more people in the US get access to the internet at home, work, or otherwise, the rate of people shopping for quotes online is increasing.
The trend appears to show that even though internet access […]

When looking around at ways to take care of debts, its important to keep several questions in mind. It is also important to understand that debt consolidation can mean many different things like: debt settlement, credit counseling, home equity loan, line of credit, and second mortgage. When you consolidate your debts, you are merely taken […]

Governor Ed Rendell has announced plans to further expand their mortgage relief programs for people who are at risk of foreclosure. The programs that have been in place since the summer time are called, HERO and REAL.
HERO is the Homeowner Equity Recovery Opportunity. It is designed for Pennsylvania residents who have not be able to […]

If appears that even financial titans are starting to feel the crunch of the mortgage crisis. UBS has stated that it will report losses of 515-680 million dollars in the Third Qtr. These losses are directly tied to the US mortgage meltdown and credit crunch that has taken place due to the subprime mortgage collapse.
If […]

Moody’s released a study showing that only a small percentage, 1%, of subprime mortgage holders were being offered a discounted or adjusted rate in light of the credit crunch this year. This means that banks are doing whatever it takes to avoid helping homeowners not default on their loans. Now why would a bank not […]

By the end of 2008 it is estimated that another 1.5 to 2 million foreclosures will occur. The effect of a housing disaster like that will be felt in every corner of the economy and every income bracket from the poorest to the Forbes 400. So, with everyone on board for this upcoming recession, you […]

The 30 yr fixed rate mortgage fell to 6.33%, which makes it the lowest it has been since Sept 13th. Mortgage rates have remained steady despite a rise a couple months ago and are still in the range they were back in May.
Also, 15 yr fixed fell to 5.99 and 5 yr adjustable fell to […]

It can seem like the obvious choice sometimes to just tap into your home’s equity and pay off credit card, medical, or other personal debt. The money is just sitting there and its better served paying down high interest debt then it is collecting in a home you may have no intention of selling anytime […]