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Right now, interest rates on home mortgages are at the lowest level in decades, if not ever. If you can get it, going for a lower interest rate might be the most beneficial thing you can do to help you get over some financial humps and get things done. A real life story came up [...]
The residential real estate market is still in trouble across the country. On Tuesday, the National Association of Realtors released a report saying that 80% of all homes in major cities had home prices fall in the 3rd quarter of the year. They said that more than 30% of all home deals came from “discounted [...]
Wow, things are moving fast. Just a week after 8 banks were closed in one week, 7 of them in one day, the federal government broke its own record by closing 9 banks this past Friday. This isn’t anything anyone can be happy about, but it is what it is. Grouped in with this group [...]
On the heels of Capmark Financial Group filing for bankruptcy last week, this week saw another super huge commercial real estate lender file for bankruptcy. This time it’s CIT Group, a lender to way more than 100,000 small and medium sized businesses. This is one of the largest companies in history filing for bankruptcy, yet [...]
My goodness! We had been sitting on 98 bank closures for close to 3 weeks, and I started wondering if maybe we were just going to limp over the 100 mark, if we actually reached it. It seems this one wasn’t even going to be close, as 7 banks were closed on the same day, [...]
I’ve decided to pause for a bit on the budgeting posts. The statistics seem to indicate that almost no one is reading them, and they take a lot of work, so maybe I’ll save the rest of this series until there’s more readers of this blog. In the meantime, I’m going to use this bit [...]
I was reading an article on Newsweek’s online site titled Bank On More Failures. The writer was interviewing Lawrence J. White, a professor at New York University’s Stern School of Business on the subject. White basically believes that hundreds of small banks are going to fail, not necessarily because of the real estate problems with [...]
