More good news!
THIS JUST IN: Early Monday morning it appeared that New Century Financial Corp., the nation’s second largest subprime funder, was about to go down the drain — the bankruptcy drain. In an SEC filing the non-depository/REIT revealed that Morgan Stanley had pulled out of an agreement to provide $265 million in (essential) financing […]
CNN.com is running a story today about a family caught in the fiasco over subprime loans. If you think it’s all just about real estate speculators (aka “flippers”) getting caught at a market downturn, think again:
Fast forward a couple of years, and the Sanons, like so many other subprime borrowers today, are struggling to […]
No doubt you’ve been watching the same news I have. Dow takes a 416 point hit, gets off the floor, staggers back into the ring, takes another 200 point pounding before closing fifty down the next day. And no wonder - the news out there isn’t good. The housing market, which has […]
