Robert's Beach Blog - Archives September, 2007

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Mortgage Loan Rules Tighten - 09/24/07 05:40 PM

Not that long ago, outbidding on properties was common practice with “jumbo” loans—over $417,000. Homes on the market now have became abundant, the sub-prime meltdown has led to tightened lending even for credit-worthy borrowers, including shoppers in their price range who needed so-called jumbo loans.Lenders recently started to shun these larger … (4 comments)

CAN YOU BELIEVE, “St. GREENSPAN” DIDN’T KNOW? - 09/17/07 10:34 AM

Even Alan Greenspan didn’t realize the danger to the nation’s economy as a result of faulty mortgage loans. As Chairman of the Federal Reserve, wouldn’t mortgage fall under his watch? His explanation is in “Fed Speak,” as are all communications from the Federal Reserve.As I understand it, the idea behind the … (3 comments)

Chicago Considering Adopting Paris Self-Service Bike Scheme. - 09/13/07 01:44 PM

Chicago? (Kind of hard to get around in the snow with a bike. And the humidity without A.C. might be unbearable at times.) How did the South Bay (So California, USA) overlook this opportunity to put a major dent in the areas of horrendous gas consumption, and to help get the … (4 comments)

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