Fitch Rating Ltd. is projecting 75% default rate on modified home loans. It means 25% of homes will be saved from the foreclosure. How do you measure success or failures of modification plans? Is it by the cost of dollar to American tax payer? Or by saving 25% of the neighborhoods? Is it by saving [...]
Dear Mr. President Obama,
Please consider my crazy-insane solution for all American Freedom forever.
USA is paying $ 450 Billion dollar in the interest payments. Next year it will $ 525 Billion and then following next year will be $600 Billion dollar. Before you give us loan modification, please ask and get the loan modifications on all [...]
Today is our independence day. We need to take the stock of our independence. According to Treasury Department, our national debt is $ 11,518,472,742,288 as of last Wednesday. Many of us cannot even read the number. China, Japan and Oil exporting countries are our largest creditors. Interest payments are now [...]
This Friday was a black Friday for the employment news. 48 states recorded higher rate. Six states broke the previous records. Only luckier ones were Nebraska and Vermont. California and Nevada went up the hill with 11% or more, highest in 25 years. The salt on the wounds is the prediction by the Chairman Ben Bernanke [...]
There is lots of commotion about the loss of economic values to Lenders, homeowners and ultimately to governments. It seems nobody is talking about a loss that is unseen but felt very deeply, personally and at social structure of our existence. A scenario develops likes this: A breadwinner is unemployed or cannot work for what [...]
When you are in need of money to expand your business or buy a new home, what do you do? Normally, you would go to the bank or any other creditor and issue a loan against collateral. In return of the money borrowed, you agree to pay predefined installments or mortgages to repay [...]
Banks or other financial institutions lend you money against collateral. However, if you fail to make regular mortgage payments, the bank or other financial institutions have the right to reclaim their money by selling the collateral. The legal proceeding to repossess the collateral from a defaulter in return for their money is termed [...]
