Financial
More foreclosure madness…
These folks should never been allowed to buy houses…
Some South Floridians who lose their houses to foreclosure try to get even. They’ll strip the plumbing, ruin the carpets and rip out doors.
Exasperated lenders are getting wise to the ruse and offering “cash for keys” deals, essentially paying homeowners as much as $2,000 not to take [...]
Understanding the Credit Crisis…
Or why the subprime meltdown could mean a world of hurt for us Americans.
As is often the case with innovations, though, there was soon too much of a good thing. Those same global investors, flush with cash from Asia’s boom or rising oil prices, demanded good returns. Wall Street had an answer: subprime mortgages.
Because these [...]
Using Mint
I recently decided to register for Mint (the financial website not the one the measures traffic) because it came highly recommended in one of the many blogs I read during the day (I don’t recall which one…sorry). I knew little about the site, just that it was supposed to munge together all your finances to [...]
Robert Kiyosaki and the housing market
“Do you think the Federal Reserve should intervene to save the economy by dropping interest rates?” My reply then as well as now: “No. This is a capitalist system, not a communist one. Anyone who expects the government to bail them out every time their greed and stupidity causes them to lose money is being [...]
More Mortgage bad news
Nation’s mortgage troubles worsen
Homeowners with adjustable-rate mortgages, struggling to deal with sharp increases in their loan payments, pushed the nationwide foreclosure rate to a record 0.65 percent this spring as the crisis in subprime lending intensified.
The problem was largely limited to the industrial Midwest and to four housing-boom states — California, Florida, Nevada and Arizona. [...]
10 Reasons You Should Never Get a Job
10 Reasons You Should Never Get a Job
You only get paid a fraction of the real value you generate. Your real salary may be more than triple what you’re paid, but most of that money you’ll never see. It goes straight into other people’s pockets.
(Link courtesy of Amy)
5 lessons on becoming a millionaire
I figured that earning a million dollars should be pretty easy if I could determine how to provide at least a million dollars worth of value to others. Unfortunately I don’t know how to provide a million dollars in value to a single person (and get paid for it), so I figured I’d have [...]
Subprime mortgages affect our brains
FMRI research shows that long-term decision-making takes place in a different part of the brain from short-term decisions — so when you offer someone a cheap two-year mortgage followed by 28 years of scorchingly high interest rates, the short-term side jumps in and overrides the sober long-term mind.
Read the whole article.
(Link courtesy of BoingBoing)
The scariness that is mortgage lending…
Taken from the Prosper.com forums:
(The full post)
One of the things I’ve observe walking the neighborhoods in my neck of the woods is the push effect caused by loose lending standards.
There was a neighborhood of $150K to $200k homes I walked that had become populated by what appeared to be ghetto people. It was once populated [...]
