 dogmaXYZPremium
join:2002-08-15
Boulder City, NV
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1 edit | If you want to read a horror story:
»www.marketoracle.co.uk/Article307.html
US Recession in 2007 - Third Leg of the Bear Market Likely
"As our clients know, we have been forecasting a very hard recession over the next few years. At the beginning of 2006, our analysis was viewed with skepticism, but as more data comes in from the recent performance of the economy, our forecast is becoming more probable."
(edit): ...This just came across;
NEW YORK (Fortune) -- When a certain $126,000 subprime loan on a $696,000 house on the West Coast failed to produce a single mortgage payment, alarm bells went off at Clayton Holdings, a company that monitors credit risk.
Closer scrutiny revealed other red flags. The borrower's previous rent payment had been $1,000, compared to the $4,482 she was supposed to be shelling out for both the primary loan and the $126,000 piggyback. And her stated income was $84,000 even though she was an hourly worker at Target.
»money.cnn.com/2007/02/28/magazin···?cnn=yes |
