June 2011

Cincinnati Suing Banks Over Empty Eyesores

(Source: communitypress) – Annie Mary Adams, with beads of sweat on her brow and dirt-caked gardening gloves on her hands, takes a deep breath and points past her meticulously groomed Kennedy Heights yard and frowns.


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After Ruling Halted N.J. Foreclosures, Experts Fear Deluge of Filings

(Source: By Sarah Portlock / The Star-Ledger) – In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed homeowners in New Jersey. The [...]


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Central Banks Urged to Raise Rates

(Source: Financial Times By Norma Cohen and Chris Giles in London) – Global economic growth must slow to curb inflationary pressure around the world, the influential central bankers’ bank has warned, saying that there was little or no slack left [...]


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Sarkozy Says Banks Accept Greek Debt Rollover

(Source: Reuters By George Georgiopoulos and Emmanuel Jarry) – French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government fought to persuade backbench rebels to back [...]


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French Banks Ready to Help Greek Bailout

PARIS (Source: New York Times By MATTHEW SALTMARSH) — French banks are ready to participate in the rescue of Greece by extending the maturity of their holdings of debt issued by that country, President Nicholas Sarkozy said Monday.


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Denmark Lets Another Bank Fail

(Source: RTE News) – Danish bank shares fell today on concerns about the health of the country’s small lenders after Fjordbank Mors became the latest to fail over the weekend.


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How To Deal With Credit Card Offers

(Source: Gather) – The vast majority of us would rather not be without our credit cards. It is not so much that they are difficult to acquire any more, but they used to be and we still feel pleased about [...]


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Are Student Loans an Impending Bubble? Is Higher Education a Scam?: Part II

(Source: Business Insider) – Few commentaries here at Sense on Cents have received as much attention as that which I wrote a few months ago highlighting issues within the student loan market and questioning the value and integrity of higher [...]


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Congress Proposes Relief for Student Loan Borrowers

(Source: US News) – As college costs continue to rise, and in an economic climate where family incomes are suffering, more and more students must borrow in order to gain access to higher education. The result is that an increasing [...]


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Americans Worried by Soaring Tuition Fees

WASHINGTON (By Virginie Montet (AFP)— The spectacular rise in US college tuition fees is becoming a serious problem for students and many American families as they grapple with the worst economic crisis since the 1930s.


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Mortgage Assistance Program Ready For Troubled Homeowners

(Source: KTUL by Kim Jackson) – If you are afraid of losing your home, there are several programs to help save it. One federal assistance program just started this week.


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Mortgage Poll: Are Strategic Defaults Ethical?

(Source: Reuters) – I know a guy — let’s call him Fred — who has a plan for walking away from his home and the $400,000 mortgage on it.


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Lewie Ranieri: The Godfather of Securitisation Returns

(Source: E Financial News Sebastian Walsh) – Lewis Ranieri – or “Lewie” as he is better known to readers of Michael Lewis’s ‘Liar’s Poker’ – was not only the godfather of securitisation, but also one of the most colourful figures [...]


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Pioneer to Revisit Subprime

(Source: Wall Street Journal By A.D. PRUITT) – Lewis Ranieri, once known as the father of mortgage finance, is daring to revisit the most infamous sector of the mortgage market—subprime lending.


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How the Mortgage Industry Lies with Statistics

(Source: Reuters) – Yesterday something calling itself the Coalition for Sensible Housing policy put out a dense 13-page white paper entitled “Proposed Qualified Residential Mortgage Definition Harms Creditworthy Borrowers While Frustrating Housing Recovery”.


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‘Qualified Residential Mortgage’ Creating Underwriting Quandary

(Source: The Californian by Broderick Perkins) – Overwhelming bipartisan support could loosen the shackles of mandatory regulatory change coming for mortgages, but probably not enough to allow consumers to escape the mortgage money squeeze they already face.


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The Post-Foreclosure Wait

(Source: New York Times By MARYANN HAGGERTY) – MORTGAGE troubles won’t necessarily shut you out of the housing market forever.


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New Mortgage Rules Give Advantage to Lenders

(Source: The Morning Call) – The past few weeks, I have been looking at foreclosures, short sales or homes that need to be fixed up. After the initial mortgage crisis, our wise government started with all kinds of new rules [...]


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Former Bank Exec, Police Officer Face Mortgage Fraud Charges

(Source: Kansas City Business Journal) – A federal grand jury has charged five Kansas City-area men — including a former bank executive and former police officer — for their involvement in a mortgage fraud scheme.


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Belongings of NM Real Estate Executive Accused in $700M Ponzi Scheme to Go on Auction Block

ALBUQUERQUE, N.M. (Source: RICHARD METCALF  Albuquerque Journal) — Wanna piece of Doug Vaughan?


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Discouraged by Scheming Real-Estate Agents

WASHINGTON (Source: MarketWatch By Lew Sichelman) — Question: I’m trying to buy my parents’ house after taking care of my mother for eight years, until her death three years ago at age 93. My dad died more than 20 years [...]


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Are Short Sales Driving Prices Down?

(Source: DanvillePatch By Lauren Holloway) – I receive Real Estate magazine in my mailbox each month. This is a magazine that is part of my real estate association membership, and always has some pertinent articles in it.


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Not a Happy Anniversary: Real estate Bust Turns 5

TAMPA (Source: By SHANNON BEHNKEN, The Tampa Tribune) – It’s an inauspicious anniversary. Five long years ago this month, the Tampa Bay area’s supercharged housing prices finally ran out of steam, and the housing bust officially began.


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Phoenix-Area Real-Estate Agents Subdued, Report Says

(Source: The Arizona Republic by J. Craig Anderson) – An apparent breakdown in the basic economic law of supply and demand has shaken Phoenix-area real-estate agents’ confidence in the local housing market, according to a report issued Thursday. Despite several [...]


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What Do Realtors Do When They Are Not Out Selling Real Estate?

(Source: Clinton Patch) – Happy summer to everyone! I am glad to see the sun and the beach and flowers.


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Ronnie Chan On Moral Hazard In The China Real Estate Sector

(Source: Business Insider) – If you think that US government is creating moral hazard by bailing out Wall Street banks, so is the Chinese government.


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Big Isn’t Always Better: Which Banks are Top SBA Lenders?

(Source: Sign on San Diego By Penni Crabtree) – It can be a David and Goliath banking story when it comes to supporting San Diego small businesses with U.S. Small Business Administration-backed loans.


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10 Bolstered Banks That Won’t Lend

NEW YORK (Source: TheStreet By Philip van Doorn) — Despite an incredible strengthening of capital and liquidity, U.S. banks can’t support the economic recovery with expanded lending until regulators finally settle on capital and liquidity requirements for the largest lenders.


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Italian Banks Hit by Credit Downgrade Threat

MILAN (Source: USA Today) — Italian banks were down sharply on the Milan stock exchange Friday after ratings agency Moody’s said it was considering downgrading their credit worthiness.


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Turner: Basel III May Have Saved RBS

(Source: GFS News by Nicola York) – If Basel III had been in place in 2007 it might have saved Royal Bank of Scotland from its near-collapse according to UK Financial Services Authority chairman Lord Turner.


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