Earnings reported today, showed that Freddie Mac suffered its fourth consecutive quarterly loss.
The company lost $821 million, or $1.63 per share, in the second quarter, down from a gain of $729 million, or 96 cents per share, in the same period last year. Plus, their credit-related expenses jumped to $2.5 billion, more than double the $1.2 billion Freddie had set aside for the first quarter. San Diego investment property
Not all foreclosures are due to bad mortgages. I would imagine a healthy number are from folks being out of work too. High and prolonged unemployment has gotta spike the foreclosures. San Diego Income Real Estate Properties
The perfect storm of a complete financial collapse is a couple months away. Be ready for a wild ride! San Diego Family Dentist
This is the result of cooking the books to give home loans to people who otherwise couldn’t even get a car loan. The lenders and the borrowers are equally to blame. They created the bubble that burst- and who are the true victims?– those of us who could actually qualify for the loan and are still making house payments and homes that are rapidly depreciated due to the crooks and liars who cooked the books. LA Legal
Why do we think jeopardizing our country’s future for short term gain is a good idea? As a whole, Americans live beyond their means and rely on….credit. You can’t expect Uncle Sam to “fix” all of your personal finance problems. Time to let the chips fall where they may… San Diego Lasik Procedures
Now I realize Greenspan probably kept interest rates too low after the the dot.com bubble and 9/11 and Congress may have been too aggressive in requiring banks to lend to ‘subprimers’ and Bush may have gone overboard with his ‘ownership society’ schemes but at the end of the day it was the American people that did this. No one was frogged marched down to a mortgage brokers office and waterboarded until they signed a loan to buy a house they could not afford. People did it to themselves. I was tempted too I admit and even looked at houses. Met an agent who had drawn up an offer. Looked it over and said ‘lemme think it over’. Called him back the next day and said ‘nope, don’t need a new house. Downtown San Diego Hotels
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I believe a lot of people who purchased with subprime loans and were not really qualified have to accept the inevitable consequences and perhaps build up their savings and credit while renting until the next purchase opportunity. Acne Treatments