On Thursday, November 20th, Fannie Mae (FNM) and Freddie Mac (FRE) made a landmark announcement in regards to a temporary hiatus on foreclosure sales and evictions for a six week period beginning the day before Thanksgiving until January 9, 2009. At first read, politicians and consumer advocacy g
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11/27/2008
I am not referring to Democrats, Detroit or the Depression. The big scary 'D' word of the week has been DEFLATION. What is deflation? According to Dictionary.com Unabridged (v1.1) the word deflation is defined as: the act of deflating or the state of being deflated. Economics. a fall in the gener
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11/24/2008
On my drive to work this morning, I noticed the flashing digital sign in front of our local Pontiac/Buick dealership. All the advertisement declared massive reductions on prices. MSRP $29k...NOW $21k. MSRP $18.5k...NOW $15k. MSRP $23k...NOW $17.9k. You get the hint. While taking in the blitz of m
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11/19/2008
I woke up this morning to find our region blanketed by lake-effect snow. Was I ever surprised since the evening news made no mention of a winter snow advisory. So the first thing I did was get dressed to go shovel my driveway, which is 24 feet wide by 30 feet long. By my estimates, the snow was
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11/18/2008
As I was reading the article "Employers Offer Workers Fewer Health Care Plans" posted in this morning's NY Times, it occurred to me that the article was very reminiscent of the mortgage industry. If you removed all the health care jargon from the article and replaced with mortgage lingo you would
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11/15/2008
You read correct. I want to be like American International Group, Inc. (better known as AIG). As crazy as it may sound, I do wish I had the impact and relevance that AIG has on the world. Their reach transcends 130 countries & jurisdictions, as well as serving commercial, institutional and indivi
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11/14/2008
Whether you like or dislike Barack Obama there has been pre-emptive domino effect with Wall Street banks and government agencies that has the markets running in circles. Everyone knows that the subprime debacle, homeownership, foreclosures and devalued real estate markets have been in the headlin
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11/13/2008
