Teenager Builds Tiny House, Avoids a Mortgage

(Source: tucsoncitizen by Kate Kaemerle) – This teenager built his own tiny home in his parent’s backyard. It’s 130 square feet, has a sleeping loft, an electrical hookup and he’s planning his kitchen. He plans to live in it when he attends college to have his...

Banks Said to Balk at ‘Robo-Signing’ Offer

NEW YORK, Sept. 6 (Source: UPI) — U.S. banks are balking at an offer by state officials to limit their blame for alleged improper mortgage practices in return for a multibillion-dollar payment.Mortgage giants Bank of America Corp., J.P. Morgan Chase & Co.,...

Mortgage Suits Inflict Super-Damages on Banks

LONDON, Sept 6 (Source: Reuters Breakingviews) – Just when investors in European and U.S. banks thought things couldn’t get worse, 17 financial institutions have been sued over $196 billion-worth of toxic mortgage bonds. Bank shares fell up to 12 percent...

Swiss Real Estate Will Become The New Gold

(Source: ftalphaville Posted by Izabella Kaminska) – Here’s an interesting view on the consequences of the SNB’s move from Societe Generale’s Sebastian Galy.First of all, as others have noted too, Galy believes the decision to defend a 1.20 level floor against...