[via Digg]
subprime meltdown
Subprime Meets Wall Street, Investor Forced To Sell Yacht
By 7.30.07
Meet the subprime mortgage meltdown’s other victim, a millionaire mortgage investor who has been forced to put his yacht up for sale—for $23.5 million.
Easy Money Drying Up, Taking The Economy With It?
By 7.27.07
What happens when easy credit, the lifeblood of our economy for the past few years, dries up? Consumer spending slows and people start mouthing the word “recession.”
WaMu To Stop Offering Cetain Types Of Subprime Mortgages
By 7.19.07
WaMu, the nations largest Savings & Loan, is going to stop issuing certain risky types of subprime loans.
New Record For Foreclosures In The First Half
By 7.13.07
Foreclosures hit an all time record in the first half of 2007, according to Bloomberg. Since the beginning of the year 926,000 foreclosures have been filed, 56% more than a year earlier.
Doomsday Coming in October For The Subprime Mortgage Industry
By 7.10.07
Many consumers who signed up for adjustable rate mortgages in 2004 and 2005 will see their mortgage payments jump this October, according to CNNMoney. With foreclosure rates already as high as one foreclosure filing for every 656 households in the US, this can’t be good news.
