| Don't miss a single post; subscribe to my feed! |  |
Over the last 3 years there have been a lot of foreclosures across the United States. Some states have been decimated by this, and it’s taken the housing industry down as well. I have stated many times in many places that I believe the banks caused this problem; now it seems I may finally be [...]
It doesn’t seem to pay to be Wells Fargo these days. Just a couple of months after losing a court case involving some sneaky way they were calculating overdraft fees, on Wednesday it was announced that they’re going to be forgiving around $772 million in home loans for around 8,700 people, and at the same [...]
If ever there was an obvious headline, the one above is it. The housing industry is in trouble, and it doesn’t look like there’s going to be a fix any time soon. So what’s going on? We’ll start with the news that existing home sales are at their lowest level in 15 years, down 27% [...]
Talk about an interesting dilemma. Everyone knows about the California housing industry, which of course also ties in with unemployment and the rest of the problems California is having with their finances. A big part of the housing industry’s problem is the high foreclosure rates that are still occurring, even as a portion of their [...]
Very little surprises me anymore when it comes to seeing that minorities suffer the most on many financial levels. First it was hearing that blacks and Latinos are taking the worst hit on unemployment than anybody else. Then it was hearing that black farmers still haven’t gotten money from the government that the Justice Department [...]
In what has to be a move to help them stave off some state attorneys general, as well as boost up some good publicity for a change, Bank of America is forgiving around $3 billion in debt owed them via bad home loans and people who are going through foreclosures. The amount comes to 30% [...]
The Federal Reserve today decided not to increase interest rates, saying they’re trying to help ease unemployment and stimulate the economy, which has stagnated. However, they seem to be upbeat that unemployment didn’t get worse, which I guess is a mixed blessing at best. That standards for how “well” the economy is going are so [...]
