What's the link between:
1) the quickly-growing number of American homeowners becoming unable to pay their mortgages after their ARM's reset (a trend nicknamed "ARMageddon" -- applicable in the UK too), which is translating into soaring foreclosure rates, and in turn forcing at least 60 US semi-shady mortgage brokers to go belly-up in the past year (i.e. the "subprime meltdown"), and...
2) the recent implosion and impending financial bailout -- which may become the biggest since the Long Term Capital Management fiasco of 1998 -- of two Bear Stearns hedge funds which dealt in mortgage securities? [more inside]
posted on Jul 11, 2007 - View this thread

Casey Serin (discussed on MeFi here), the world's most hated blogger according to CNET, has taken down his "I Am Facing Foreclosure" blog. Why? Speculation abounds among his fans and foes alike. Did the law catch up to him? Was it a result of a crayon-penned contract with his wife? The "real estate bubble's" poster boy has inspired others to create a Caseypedia, to write copious blog entries of their own, and even to host "talkcasts" that function a little like memorial services in the emptiness that follows the sure (?) demise of Serin's own Foreclosure Fridays call-in, chat-in sessions. There's even one tonight!
posted on Jun 1, 2007 - View this thread