Home prices continue to plunge in value. According to the latest statistics from S&P/Case-Shiller, prices declined by over 1% in October. The crash in housing prices has now brought prices back to levels last seen in 2003. Each local housing market is unique with some states such as Florida and Nevada experiencing much greater price […]
Housing Prices Have Crashed So Much You Can Buy One With A Credit Card
December 29, 2011 By Leave a Comment
Banking News – Daily Banking Update
December 28, 2011 By 3 Comments
Welcome to Banking Update, a roundup of articles and news from around the Internet. The government keeps trying new foreclosure programs despite the failure of previous ones, homeowners past due by more than 60 days are unlikely to recover, home prices continue to drop, mortgage fraud continues and almost half of all home purchases are […]
Banking News – Daily Banking Update
December 23, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Worries about the “bubble” in 30 year mortgages, the impact of Europe’s banking crisis on the U.S. and problems with small banks. Also, worries about the safety of bank deposits, the root causes of depressions and how to live well on […]
Banking Update – Daily Banking News
December 23, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. The Fed’s low interest rate policy has killed savers but is it also killing the economy? Also, the U.S. is heading for another credit downgrade, what capital levels do banks real need and housing prices drop again. On to the links. […]
Mortgage Default Is A Financial Bonanza For Many Homeowners As Foreclosure Crisis Continues
December 22, 2011 By 6 Comments
The Office of the Comptroller of the Currency (OCC) painted a gloomy picture for the housing markets with its release of the OCC Mortgage Metrics Report for the third quarter of 2011. Mortgage delinquencies remain at high levels and foreclosures increased by double digits. The OCC report covers mortgages serviced by federal savings associations and […]
Banking Update – Daily Banking News
December 21, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. The Bank of America situation just keeps getting worse with another large fine for BofA, foreclosures are weighing down the balance sheets of banks, Nevada home prices just keep on dropping after a 63% delcine, home equity borrowings have collapsed, the […]
Banking Update – Daily Banking News
December 20, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Business at pawn shops is booming. Bargains for buyers and easy credit for borrowers has resulted in pawn shops taking over the role of traditional banks and retailers for many consumers. The average loan amount […]
Banking Update – Daily Banking News
December 19, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Runs on the bank are intensifying in Europe – fragile confidence in the banking system is being shattered. Banking holidays and capital controls may be necessary which would fuel the panic further. Chinese homeowners go […]
Western National Bank of Phoenix, AZ, Closed By Regulators
December 16, 2011 By Leave a Comment
Western National Bank, Phoenix, AZ, was closed today by the Comptroller of the Currency and the FDIC was appointed as receiver. The FDIC entered into a purchase and assumption agreement with Washington-Federal , Seattle, Washington, to assume all deposits of failed Western National Bank. Western National had three branches, all of which will reopen on […]
Premier Community Bank of the Emerald Coast Closed By Regulators
December 16, 2011 By Leave a Comment
The Premier Community Bank of the Emerald Coast, Crestview, Florida, was closed today by state regulators and the FDIC was named as receiver. The FDIC sold the failed bank to Summit Bank, N.A., Panama City. All deposits of failed Premier Community Bank were assumed by Summit Bank and depositors will have immediate access to their […]