Archives for December 2008

Loan Modifications May be Forced

  A member of the U.S. government bailout oversight panel says that if bankers and mortgage companies don't start restructuring mortgages with loan modifications more aggressively it will be mandated by government leaders. Richard Neiman made the comments visiting Las Vegas to inspect the city's massive foreclosure epidemic as a member of the panel. Neiman is the Superintendent of New York state banks. As a leading member of the … [Read more...]

Bottom of Housing Market Not Close

By Mike Colpitts Editor The bottom of the housing market isn't close. In fact, Housing Predictor is backing up our forecast for the bottom to hit – all the way to 2010, and it may be longer than that. Fortunately or unfortunately our foreclosure forecast is coming all too true. Now 1 in 10 homes are delinquent or in the foreclosure process and another four out of 10 are upside down on their home equity. As the government tries to figure … [Read more...]