Category Credit crisis

AP has a clear, understandable article on subprime mortgages, focusing on a Colorado couple who is being foreclosed, primarily because their mortgage payments jumped up way high coupled with an auto accident that made the wife unable to work for…

Fannie Mae has stopped buying New Century mortgages too. Thus, the second-largest subprime mortgage company has self-destructed, leaving thousands in financial peril. One hopes that those who apparently just made shit up as their Ponzi scheme collapsed will spend the…

That’s up from 16 as of Dec. 2006. What more instructive example could there be of the boom-and-bust, greed-is-good, predatory nature of capitalism than this ongoing train wreck where millions will lose their homes as a few got wealthy? Wall…

Casey Serin, who bought eight house in eight months with no money down by, well, making shit up, has now lost most of his homes and will unquestionably lose all of them. So what’s he doing on his blog? Planning…

Mortgage Fraud Blog details the numbskull schemes of dumb and dumber. Dimbulb #1 was a lawyer who thought he could divert escrow money. Dimbulb #2 (a team) tried to sell a home that just sold legitimately, thinking they could grab…