28th June, 2011
A “tsunami” of homeowners face falling behind on their mortgage repayments as soon as interest rates begin to rise, a leading banker has warned.
Posts Tagged ‘mortgage crisis’
Fears over ‘tsunami’ of mortgage debt
Posted by seumasach on June 28, 2011
Posted in UK economy | Tagged: mortgage crisis | Leave a Comment »
The Bank Bailout’s Side Effect: Rising Mortgage Costs
Posted by smeddum on October 17, 2008
The Bank Bailout’s Side Effect: Rising Mortgage Costs
By STEPHEN GANDEL – Fri Oct 17, 1:00 am ET yahoo.news
The government’s effort to boost bank lending to end the credit crisis is hurting one of the areas critical to the nation’s recovery: mortgage rates. In the past week, the average mortgage rate on a 30-year fixed home loan has jumped more than one half a percentage point to 6.74%, according to Bankrate.com. That might not sound like much, but it is the biggest one-week rise in the normally stable lending rate in 21 years. Some economists say mortgage rates could soon top 7%, a level they have not seen in more than six years. Read the rest of this entry »
Posted in Uncategorized | Tagged: bailout, housing crisis, mortgage crisis | Leave a Comment »
The great bailout: U of M expert on mortgage crisis says Paulson plan is ‘reverse criminal action’
Posted by smeddum on September 24, 2008
The great bailout: U of M expert on mortgage crisis says Paulson plan is ‘reverse criminal action’
By MOLLY PRIESMEYER 9/23/08 12:27 PM Minesota independent
For some consumer-rights advocates, the great Wall Street bailout is starting to look like a heist for the ages. Prentiss Cox, a professor of law at the U of M and former assistant attorney general, calls Treasury Secretary Henry Paulson’s bill “outrageous.” Wall Street was the cause of the problem, he says. “And now they want a bailout completely on their terms? It serves the very wealthy and completely ignores the homeowners victimized by this. It is appalling.” Read the rest of this entry »
Posted in Financial crisis | Tagged: failing banks, financial fraud, mortgage crisis, Paulson | 3 Comments »
In These New Times 