[Hydroshock]

Economy/Credit/housing Issues Ping List

If you want on or off this list let me know

[Proverbs 3-5]

Paulson for President!!

[Moonman62]

The newspaper said Paulson was pressing the mortgage-service industry to help a broad range of borrowers become eligible for better loans instead of dealing with mortgage problems on a case-by-case basis.

The mortgage industry is running out of capital. Look at the stock prices of Fannie Mae and Freddie Mac the past six weeks, especially yesterday.

[ex-Texan]

Wall Street Seen Falling as Oil Nears $100 . . .

Pump Prices Are Going Up in Beverly Hills -- Learn More: Click Image

Wall Street Seen Falling as Oil Nears $100

Shares Falling in Europe. After Shares Fell in Asia . . . Ouch !

[Travis McGee]

I wonder if Paulson considers his “real job” to be treasury secretary, or shadow CEO of Goldman Sachs, his last and next job?

Ain’t it a cozy arrangement? And on the financial channels, the professional touts pretend wonder at Goldman Sach’s amazing run, even as the other investment banks and major brokerages slip and fall.

[sierrahome]

Back in the 1980’s I was managing a bank branch and folks were coming in to refi to get that “great” 10.5 and then allllll the way down to 9.875% rates. Seeing the end of the Carter era was a wonderful thing. Anyway, the only thing we had out on the street was a 30 year and a 15 year both fixed and at 80% or under. The basic (quick) qualification was that your new mortgage payment could not top 26% of your gross income and your total bills including the new mortgage was 36%. Nothing was going to happen until we had 2 years bank statements, written verification from employers and on open credit, a REAL appraisal and at that time an attorney letter reviewing the title of the house.
Anyway, that little 26/36% rule is something that is just a good rule of thumb in life but even that is a bit of a stretch when you do the math.