According to a report published by Federal Housing Finance Agency (“FHFA”) on Thursday, government-backed mortgage finance giants Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) lost $226 billion in capital in the last three years.
via – Seeking Alpha.
In Washington, as elsewhere, the battle over secondhand smoke is moving from airplanes, bars and office buildings to an arena that once seemed impenetrable: private residences.
via The News Tribune.
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It would be easy if you could set up your Qui’ja board and ask what was going to be the best for both now and in the future. Unfortuantely, it doesn’t work that way. This question is one property managers have struggled with for decades, and will continue to debate. Technology and our prospects change consistently, as are distribution points as publishers vie for market share.
Walking through the vacated apartment this week — her first look inside the rental in more than a year — Cook saw the holes in walls, the ruined carpet, the accumulated bathroom filth and then reflected on the landlord-tenant battle she calls the worst experience of her life.
“It’s amazing she could live like this,” said Cook, who fluctuated between disgust and tears during a tour of the apartment Wednesday morning.
via PressDemocrat.com.
There seems to be a growing consensus that home prices are headed down, not up, in the absence of free money from Uncle Sam, the only important question being the magnitude of the decline. Housing Wire reports on a few of the latest analysts’ estimates including Moody’s where the chart below was offered.
via Seeking Alpha.
The delinquency rate on home equity loans is higher than all other types of consumer loans, including auto loans, boat loans, personal loans and even bank cards like Visa and MasterCard, according to the American Bankers Association.
Lenders say they are trying to recover some of that money but their success has been limited, in part because so many borrowers threaten bankruptcy and because the value of the homes, the collateral backing the loans, has often disappeared.
The result is one of the paradoxes of the recession: the more money you borrowed, the less likely you will have to pay up.
via NYTimes.com.
