Category Credit crisis

Lending Tree just laid off 20% of its workers with a company spokesperson saying the subprime correction has now spread to all categories of loans. Wasn’t it just a few weeks ago the talking heads were saying the contagion wouldn’t…

Our real estate agent in L.A. (a long-time friend) says the house we sold there on Jan. 28 2007, based on current comparables, would now be going for 15-20% less – a quite steep decline in just 3 1/2 months.…

The poster child for sleazy subprime mortgages, New Century Financial, is facing a criminal probe over how they booked gains. It appears they may have been using the MSU Method of Accounting (that would be “Making Sh*t Up”). In a…

Reading Housing Bubble Blog gives an idea how widespread the subprime collapse is. They post news from all parts of the country. Lots of people are getting hosed, losing homes, in debt way past anything they can hope to repay.…

Let me tell you a story of a man named Casey Thought he could flip real estate but was really quite spacey Then one day while seeking that big score A bunch of foreclosures walked through the door Bankruptcy, that…