Mortgage worries plague Wall St.

Jul 30 - Investors were spooked last week by the prospect that problems in the mortgage market extend well beyond the subprime segment.The selloff in stocks suggests that many on Wall Street are expecting credit markets to weaken with a continued slump in the U.S. housing market. However, optimists say the market may be approaching a bottom.

Jeanne Yurman reports from New York.

Category:

News & Politics

Tags:

• Mortgage
• subprime

[Psychogenius018]

This crisis is all by design. The bigger picture is that the FED intentionally creates economic devastation from time to time in order to buy banks, corporations, etc. for pennies on the dollar. This has been their history. In addition to this, the plan now of the banking families that own the FED is to purposely sell out and bring the US to it's knees because the US is increasingly becoming more of a hindrance than a useful tool for their aim at global empire.

[lenderwatch]

mortgage "WORRIES" .... it would have never gotten this bad if two things had happened: crappy credit people were either denied the priviledge of home ownership OR paid their mortgage instead of continuing their crappy credit management AND sissy little newbie investors had left their money in companies like Bear Stearns and Lehman Brothers. Chinese, Japanese, German and other international investors are now buying USA subprime mortgages ... the enemy may be buying YOUR neighborhood.

[Sagitarius54]

Thanks you MR. AND Mrs. Congressass! 535 of you wonderful lawmakers! In seven years you have managed to fuck us out of our jobs and homes and our kids education! And let a liar take us into the most costly bullshit war in history. No wonder the muslims want us out of there country.

[grudgekeeper]

If you are late on 1, ONE, mortgage payment, your score drops 100 points which takes atleast 8 months to recover from. In most cases you dont qualify for the same loan you have because of one late payment. If you have 5 credit cards and your late on one, all 5 cards can have their percentages raised, unneccessarily tightening budgets.

[grudgekeeper]

How come on every channel, post, blog, noones mentioning the credit reporting changes this year, and their normal practices? People have made upto date payments for two years and now the credit scores say they cant be trusted to do the same. The changes to the reporting practices in jan/feb is causing the biggest part of this.. Why is noone speaking about it?