Category Credit crisis

That’s what they call them now in Minnesota’s new ghost towns – these being vacant homes with no curtains and no furniture. You can see through one window and out the other. And there are many of them. What will…

Sure, some bought houses with little or no down with risky variable rate mortgages and are now feeling the pain. But they all weren’t deliberately scamming the system, and buyers, mortgage companies, and investment banks were all part of the…

No one wants them, seems there’s a stigma, like they were all greedy pigs. Some internet job postings specifically say “no real estate or mortgage candidates” need apply, something which is certainly discriminatory and probably illegal to boot.

Jefferson County, Alabama thought they’d make extra money by doing interest rate swaps on their sewer bonds. It blew up in their faces. They have failed to post $184m in collateral, are in technical default, with bankruptcy apparently unavoidable. A…