U.S. mortgage mess goes global

Aug. 16 - Foreclosure risk rattles global financial markets.
For many homeowners in the U.S., interest rates and mortgage payments are rising, and that is fueling instability in financial markets around the world. And, even if you pay your bills on time, you may be affected by the mortgage meltdown.
Laura Wells reports.

Category:

News & Politics

Tags:

• mortgage
• subprime
• financial
• markets

[flagship21]

The sad thing is this lady may do something bad to make her payment

[mannyfeseha]

thehelpfund.blogspot

[atlantasbest]

let the motherfucker burn!

[ourearthhome]

The housing bubble is mostly if not entirely a land speculation bubble. Houses do not go up in value since their supply can be increased. It is land that goes up far beyond its "real" value because its supply is fixed. Land prices periodically become unaffordable and must collapse(18 year cycle). Speculation can work for the benefit of all if supply can be increased. If not as in the case of land, it merely results in higher prices for the same little house lots. Mega obscured system flaw.

[DangerousCombination]

Bank Runs will be more common, take your money out now, while you still can. This global credit crisis will hit every Bank. Government guarantees on banks could take 6 months to 2 years to retrieve your money. Australian banks don't guarantee deposits, only that depositors will have first claim to bank assets. Most countries have limits on guarantees, USA it's 100K per PERSON (even if you have multiple accounts across different banks).

[DangerousCombination]

Reserve Banks. Watch "Money as debt".

[chere7up]

really actually the consumer pays in the end thru Jmt liens and the cycle of money runs thru hands of the feds. Did you ever wonder why bank of America invested 2 billion into countrywide. Remember the savings & loan scam? A transfere of debt...Debt is an asset accurring interest @ 25% (more or less).

[soVun]

Because then you have to work with the interest rates.  If you cut the rate, then you devalue the dollar. With a devalued dollar - then you have less foreign companies investing in U.S. - which means the entire thing continues to spiral. That's the whole problem. It gets worse either way.

It will be weathered. Just like every financial crisis I've seen before. This is nothing compared to 1974 - 1980. Inflation as high as 14%. Unemployment soaring. Lord, that was a mess.

[bootme21]

there is a planned collapse of the US financial system. This is the precursor for the North American Union.

[softearth]

"Few winners" LOL

How about the mortgage companies and real estate agencies that sold and funded the houses in the first place?

Didn't they make money during those transactions?