From the Fed: Industrial production and Capacity Utilization Industrial production increased 0.1 percent in October … Manufacturing production moved down 0.1 percent and the output of mines decreased 0.2 percent, but the index for utilities rose 1.6 percent. At 98.6 percent of its 2002 average, total industrial production was 7.1…
Recently, my son Joe had his fourth birthday. Sarah and I had made the decision that we were going to introduce the idea of an allowance to him after his fourth birthday, along with the idea of saving for specific goals. In order to accomplish this goal, we decided…
TransUnion reports that the 60 day mortgage delinquency rate increased to a record 6.25% in Q3, from 5.81% in Q2. From TransUnion: Mortgage Loan Delinquency Rates on Course to Hit Record in 2009 Mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 11th…
“There was a reasonable doubt on every charge,” said a juror in the case against two former Bear Stearns hedge fund managers. The quote comes from the New York Times. Ralph Cioffi and Matthew Tannin were found not guilty of securities fraud in federal court in New York last…
Some late night entertainment from Merle Hazard (other hits include Inflation or Deflation? , Mark to Market and H-E-D-G-E ) Note: Merle will be performing live at the annual convention of the American Economic Association , Sunday, January 3, 2010, 8 p.m. in Atlanta.
Read more here – Merle Hazard:…
In June 2008, reader Brian sent me an email that started: “When the bankers are selecting color schemes, you know a project isn’t going well” He was referring to Deutsche Bank foreclosing on the $3.5 billion Cosmopolitan Resort & Casino in Las Vegas. Bloomberg has an update: Deutsche Bank Drowning…
In a report (pdf) titled “Factors Affecting Efforts to Limit Payments to AIG Counterparties”, Neil Barofsky, special inspector for TARP, wrote that the “negotiating strategy to pursue concessions from [AIG] counterparties offered little opportunity for success, even in the light of the willingness of one of the counterparty to agree…
President Obama has signed a bill that extends the tax credit for California first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009 for FHA FTHB’s. In addition to extending the tax credit of up to $8,000 through June…
What are the risks involved with taking out a Reverse Mortgage? Can you lose your home? What happens if you die before it is paid off? Know the facts. The biggest fear that seniors have, is that they may lose their house if they are unable to make the…
Reverse mortgage lenders send monthly checks without an ownership interest in your home. Find out how to cut payments and receive additional payments every month. Reverse mortgages are similar to conventional options, but are not entirely the same. Ownership however remains in the hands of the homeowner. Lenders file…