People are not the only ones left homeless by foreclosure. Nearly three-quarts of all American households include a family pet, according to No Paws Left Behind and when families face tough economic times, it is often the animals who fare the worst. It is believed that as many as 4 million Americans and 1.25 million pets my lose their home in the current economic crisis.
Read more »Don’t Forget The Pets
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Hedge Funds Weren’t Hedged-Who Knew?
Hedge funds are continuing to lose big bucks, suspending redemptions and, in a number of cases, liquidating. They all cite difficult market conditions. Which markets, though? Derivatives have been under the radar lately, yet there have been many events that would force mark-to-market accounting. Recent changes in SEC rules allow banks to defer mark-to-market and keep off balance sheet certain assets. Hedge funds too?
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Seniors Going In Reverse
Have you seen Robert Wagner recently? Chances are you have and he’s been talking about reverse mortgages. Reverse mortgages have been touted as a solution for cash strapped seniors allowing them to keep and live in their home while still enjoying a comfortable lifestyle. Comfort has lately taken a back seat to surviving the current economic chaos.
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Obama’s Housing Promises
A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
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The Blame Game
A guest post by Jay C. Hammond, freelance journalist and researcher.
There are plenty of candidates for blame in the current mortgage meltdown. Yet the ability of the Federal Bureau of Investigation (FBI) to investigate mortgage fraud and other financial crimes is increasingly being called into question. The FBI and the Department of Justice are the agencies primarily responsible for pursuing criminal charges against lenders and financial firms.
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Election Day facts
A guest post from Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing, business and his dog.
No matter who wins today, the facts on the ground will not change. Currently the best-case scenarios are for a recession ending sometime late next year. Never a good sign when that’s the view from the rose-colored glasses.
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Please Vote Today
No matter your affiliation get out and vote! It’s crucial and it feels great. I got mine in first thing this AM.
Yeah America!
I was first in line so I snapped a quick photo (w/a crummy iPhone camera) before the polls opened.
If you want to follow election results, have at it:
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Loan Modification Efforts Continue Expansion
A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money-mattersand his adventures in self employment.
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It’s Official: The Crisis is Worldwide
Another guest post from MG who went from Wharton to Wall St. to real estate to Blown Mortgage.
Where is the last place on earth you’d expect to need a bailout . . . due to a real–estate bubble bursting . . . and banks failing . . . and stock markets crashing . . . that has derivatives counterparty losses? Its the Gulf countries (GCC) in the Middle East and, in particular Kuwait. **ya coulda knocked me over with a feather**
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Fed Implode-o-Meter
Another guest post from MG who went from Wharton to Wall St. to real estate to Blown Mortgage.
Just how much money has the Fed, aided and abetted by the Treasury, spent this year? Numbers are all over the place, but it could be around $3.8 trillion. They spent $650 billion in the last six weeks alone. And it’s all money they don’t have, by the way. And it has yet to be financed; that’s ahead of us.
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