MetaFilter posts tagged with mortgage

If God gives you lemons...

Skeptic — Wed, 28 May 2008 12:19:49 -0800

Among European countries, Spain has been hit particularly badly by the global credit crisis. Miguel Marina, a recently unemployed real estate agent (what else?) has been one of its victims. Unable to keep up with his mortgage payments or to find a buyer for his home, he has found an original solution: he's raffling his apartment at 5€ a ticket. Considering that the total value of the tickets he's selling is 320,000 €, and that the Spanish press (which is all over the story) is reporting that his previous asking price for the apartment was 200,000 €, and that his current debt is of 188,000 €, Mr. Marina may end up pocketing a tidy profit, after all. The lawfulness of the raffle is however disputed (in Spanish).

The Giant Pool of Money

empath — Sun, 11 May 2008 22:20:37 -0800

The Giant Pool of Money. This American Life teams up with NPR News to explain the Housing Crisis. (I know everybody here already knows about TAL, but this is an exceptionally well done episode, and worth checking out even if you don't get the podcast.)

Real Estate Links

greensweater — Mon, 05 May 2008 09:41:08 -0800

You're familiar with the grand-daddy of (overhyped) real estate AVMs, or even some lesser known, but more accurate competitors. In this market, it can be tough to get out from under your current home before buying new. But did you know that you can also swap your home?

Value-added housing costs

Blazecock Pileon — Mon, 28 Apr 2008 11:04:16 -0800

How far away from work do you live? How much of your pay gets used up to get you to and from work, get you around town, and pay for where you live? As gas and food prices continue to rise, "affordability" has become a more critical notion for everyday Americans. The Center for Neighborhood Technology developed their Housing + Transportation Affordability Index, which aims to help better inform renters and owners about the relationship of transportation options to where one lives.

Housing Crisis: 1 in 33 Face Foreclosure Within 2 Years

jacobw — Thu, 17 Apr 2008 11:30:35 -0800

Will States Respond to the Foreclosure Crisis? Their headline is that 1 in 33 homeowners are projected to face foreclosure in the next two years. But I found the stat that neighboring homes will lose $356 billion in value a rather staggering number to swallow for those not facing the threat of foreclosure.

America's Captains of Industry!

uaudio — Thu, 20 Mar 2008 16:02:50 -0800

As is the custom these days, GMAC Bank is suing mortgage broker HTFC for selling them improperly secured loans. The deposition of HTFC's CEO Aron Wider reads like a Joe Pesci role with 73 creative uses of the f-word over twelve hours of testimony. A federal judge fined Mr. Wider and his attorney $29K for Mr. Wider's constant use of bad language, insults, refusals to answer questions, and his lawyer's failure to control his client.

Subprime Artistry

afx114 — Sun, 17 Feb 2008 11:00:14 -0800

The Subprime Primer. [via] An entertaining, lo-fi, comic-book style explanation of the complex Subprime Mortgage mess.

living in a gilded cage

geos — Fri, 25 Jan 2008 07:09:04 -0800

America 's debtor prisons .

Newsfiltered: A Big National Story That's A Lot of Big Local Stories

wendell — Fri, 04 Jan 2008 16:53:02 -0800

Yes, the Subprime Mortgage Crisis was 2007's top national business news story for the second year in a row (and odds on favorite to Threepeat), #2 news story overall (TIME put Pakistan at #1, for AP, it was the Virginia State Massacre). But then I saw that it was the #1 local news story in my town. We know it hit some areas harder than others, like Bend, Oregon, Trenton, New Jersey and Jerusalem?!? If local newspapers notice it more, it may be because it's hurting local newspapers. In Ohio and Michigan, they didn't need the Subprime Loan problems to have a crisis. And it's so bad in Stockton, California, that the BBC took notice. But London is having its own troubles.
But the most interesting local story of all involves tracing the crisis to its source: Orange County, California

DOOOOOM! Oh wait, Nevermind. We're fine. You're still doomed though.

Lord_Pall — Thu, 13 Dec 2007 23:42:40 -0800

Some see an economic apocalypse. Others see an err.. economic apocalypse. But have no fear! A solution is at hand. Step 1 : Print up a lot of money. Auction it. Step 2: Take whatever people have lying around for collateral. Step 3. Make sure not to mention of what happens if you default. Make it anonymous. Tada! The banks are saved! Note - Not an economist but I found all of these to be interesting. Feel free to tear it apart and explain how this is misinterpreted.