Ebonezer shuffles across the room in his worn out shoes, vaguely noticing the floorboards splintering. Picking up the splinters he slings them into the fire grate. A few more and there’ll be enough for a fire. The only time that open fire sees any action is when there is enough junk mail and bits of [...]
Respected economists Posner’s view of the US mortgage bailout:
The President on February 18 announced a $75 billion plan with the following elements:
1. Refinance. The government will allow Fannie Mae and Freddie Mac–the large, now governmentally controlled buyers and underwriters of residential mortgages–to refinance mortgages when the unpaid balance of a mortgage is between 80 and [...]
In the current housing market, moving home presents people with two challenges: finding a new property - which is easier than it has been in previous years - and selling their own home, which can be a little more difficult.
The decrease in mortgage availability due to the credit crunch has led to a far higher [...]
Just imagine as you’re going through your favourite coffee drive-thru this week that a well-dressed gentleman stops and offers you $11,000 for your medium double double. Who would hesitate? We’d take the cash. It’s not so far-fetched. In fact, if you take that coffee budget and apply it to your monthly mortgage payment [...]