Home foreclosures jump in 3rd quarter
(Reuters) - U.S. home foreclosures jumped in the third quarter and banks' efforts to keep borrowers in their homes dropped as the housing market continues to struggle, U.S. bank regulators said on Wednesday.
The regulators said one reason for the increase in foreclosures is that banks have "exhausted" options for keeping many delinquent borrowers in their homes through programs such as loan modifications.
Newly initiated foreclosures increased to 382,000 in the third quarter, a 31.2 percent jump over the previous quarter and a 3.7 percent rise from a year ago, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said in their quarterly mortgage report.
The number of foreclosures in process increased to 1.2 million, a 4.5 percent increase from the second quarter and a 10.1 percent increase from a year ago, according to the regulators.
Continue reading at Reuters...
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Whalen on foreclosure...
Oct. 18, 2010 -- Bloomberg -- Christopher Whalen
Forced mortgage repurchase.
Very, very good clip. MBS investors might just own unsecured paper, contrary to what they were told by the trusts. And in most cases they have no recourse.
More on this clip is here...
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Dec 29, 2010 at 2:38 PM
Reader Comments (9)
http://www.economicpolicyjournal.com/2010/12/first-10-major-cities-that-will-run-out.html
Read more: http://www.express.co.uk/posts/view/219745/Half-of-Germans-want-to-axe-the-euroHalf-of-Germans-want-to-axe-the-euroHalf-of-Germans-want-to-axe-the-euro#ixzz19XKeTsJm
Fresh Fall in Home Prices Is Headwind for Economy; Other Signs Still Strong.
http://online.wsj.com/article/SB10001424052970203513204576047491075731426.html?mod=WSJ_WSJ_US_News_5&om_rid=NQ-S6t&om_mid=_BNGzNzB8W1OBe1
Snowpocalypse: New York digs itself out of the snow, but travel delays continue (28 Pics)
http://online.wsj.com/article/SB10001424052970203731004576045572961508178.html?mod=WSJ_newsreel_markets
Dose this strike a chord with anyone else...................................Katrina, NO down in La. Let them poor bastards find their own way out....????
Hey, thAre just "Poor People", anyways, right. We'll only plow the main roads. Up in Springfield Mo. thats how it works. Some years we dont get more that a inch or two.
When we do get......10"..........15"............20"......everyone dose the best they can. We almost neaver get snow like that down here. And in 3-4 days its back up in the 50-60's. BUT, In New York, thats a differant story............
When My Show was based out of "Sconsin", every street with a street sign, got the plow. Times it was 3 days to get plowed out, but we got it. This is normal in NY.
NY is broak, so plow the main roads. OK, but many people & babys died becouse help couldent get to them. This is going to get ugly........
What strikes me is, NY is the only city on MSM screaming about the deaths becouse the plowes dident get to them. "Crap" were back to Katrina, again. Let them poor bastards dig thAre own ass out of the snow.
This is what the people better get used to. With all citys going broak, and cutting back, this is what you get. Its the New Normal, folks......
As to all the people stranded in airports around the world................................"Screw-You"................you went out in blizzered warnnings, telling you to stay home. You chose to go anyways. You get what you deserve people. The airlines can not make the storm go the other way.
These are the same people trying to get home from the mall shopping & trampeling one-an-other, to get that "Shit Head Sheeple Deal"..............."Suck-it-Up"....!
As far as the "Woos-People" wanting to go to the game, heres my thoughts from the hart.............Hang-On ?
You NEAVER Call a Packer Game, "Neaver"....! They get Snow up thAre, its a way of Life...........them Sconsin People can take it. You should see the Fishing-Shanties, they have up thAre...............
10" of snow is nothing more than 26 min. late for work becouse I had to help a guy out of the ditch, workin for our competier down the street. Its how we do it up here in Sconsin................
Now, throw in 28"-30" of snow, plus a 60 mph wind come a blowin, out of the north, and the only people you will see out that night is the ones on a Artic Cat, Skidoo, or Ploris, sled. Nobody in thAre right MIND would go out on a night like that.
The GB Packers, will be at the Bar, on thAre Slead, with the rest of us. Plus, we ran up & down MAIN Street. If you saw Red Lights, you went to help the law out. Someone is having a baby and needs to get to the hospital.
OH, the Mayor did say that the people could of gotten to the game...................they most likely couldent get out of the parking lot, after the game, but they payed for their ticket.
Nobody in thAre right mind gos out in a "Blizzered" unless you have an Artic Cat..................I've been out in 35* below & 25 mph winds, and having a blast in it. I dident have to drive my CAR home from a game.
That "Ass Hole" is barking up the wrong tree, asking the fans to join him in that kind of conduitions. Its a Long Way, from 6-9" of snow, with no wind...........................
How Fu****king Dumb have we become today.............................Oh Right.................thoes 2 clips of people going shopping on "Black Friday"..................thats how "Frickkkkkkkkkkkkkkking Dumb"......! God, im Pissed Tonight..........putting down good people for not going out to see the game that went off last night, all the same.
Nobody elas lost their life. Its sad, becouse of the ones that did, becouse the rescue bus couldent get to them. People just better get used to it. This is our New Normal.................................... Dar !
The adjustable rate mortgage was a trap that worked for its inventors and their bosses by design. Withdrawing money from circulation by the banking system = more repos. Don't get hurt on the job. God damn the pusher. Did I miss anybody?
teaparty teaparty teaparty "Texas" teaparty teaparty teaparty "Dar" teaparty teaparty "Texas" teaparty teaparty "Dar" teaparty teaparty "Texas" teaparty teaparty "Dar" teaparty teaparty "Texas" teaparty "Dar" teaparty ...................... !
This means that T Dar is just as good as you are. I just cant Spell'ed as good as you can. I Did It...............I Did It..............I Did It........im as good as Zara........? Quick, Tell Cold Snap to come see what Dar did.