Chicago版 - Bank of America delays foreclosures in 23 states |
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g******4
发帖数: 6339 | 1 WASHINGTON (AP) -- Bank of America is delaying foreclosures in 23 states as
it examines whether it rushed the foreclosure process for thousands of
homeowners without reading the documents.
**** The move adds the nation's largest bank to a growing list of mortgage
companies whose employees signed documents in foreclosure cases without
verifying the information in them.****
Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan
Chase, have halted tens of thousands of foreclosur | g******4
发帖数: 6339 | 2 The Housing Death Spiral Means A Mammoth One In Five Borrowers Will Default
A leading mortgage analyst predicts over 11 million homeowners will default
and lose their home if the government fails to take more radical
intervention.
“The death spiral of lower home prices, more borrowers underwater, higher
transition rates (to default), more distressed sales and lower home prices
must be arrested.”
......
Risk is so high in today’s real estate market that private money has
largely left the mortgage category. The retreat is most easily seen in the
jumbo mortgage market. Total jumbo mortgage origination has fallen from a
high of $650 billion in 2003 to $92 billion in 2009 (see the chart above).
Government loans account for 90% of current originations.
“If government policy does not change, over 11.5 million borrowers are in
danger of losing their homes (1 borrower out of every 5),”‘ the report
said, which estimates the total of homes with a first mortgage at 55 million
. “Politically, this cannot happen.”
http://www.businessinsider.com/housing-death-spiral-defaults-2010-10
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【在 g******4 的大作中提到】
: WASHINGTON (AP) -- Bank of America is delaying foreclosures in 23 states as
: it examines whether it rushed the foreclosure process for thousands of
: homeowners without reading the documents.
: **** The move adds the nation's largest bank to a growing list of mortgage
: companies whose employees signed documents in foreclosure cases without
: verifying the information in them.****
: Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan
: Chase, have halted tens of thousands of foreclosur
| g******4
发帖数: 6339 | 3 another kick.
Default
default
【在 g******4 的大作中提到】
: The Housing Death Spiral Means A Mammoth One In Five Borrowers Will Default
: A leading mortgage analyst predicts over 11 million homeowners will default
: and lose their home if the government fails to take more radical
: intervention.
: “The death spiral of lower home prices, more borrowers underwater, higher
: transition rates (to default), more distressed sales and lower home prices
: must be arrested.”
: ......
: Risk is so high in today’s real estate market that private money has
: largely left the mortgage category. The retreat is most easily seen in the
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