Home Mortgage Aid

The Digerati life has a great blog post about how we’ve found ourselves in the current subprime mess, and how to get ourselves out of it. It explores the reasons behind what has happened and without going into complicated economics that a normal person couldn’t understand. You can check it out at:

What’s Next After The […]

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Bank of America rolled the dice a few months ago when they committed two billion dollars to underwriting Countrywide’s short term cash flow problems. With that gamble, BofA was banking on a relatively modest recovery in the housing and mortgage market. Obviously, that has not happened. Had Countrywide’s stock improved, Bank of America had an […]

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Countrywide continues to offer mortgages, although it seems they are exiting the subprime area. For a company almost given up for dead a few weeks ago, they seem to be emerging from their darkest hour. Having already started the painful downsizing of lay-offs and more stringent loan requirements, they also now have a major financier […]

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With Bernanke and the Fed’s rate cut, it seems the credit crunch may be easing for some of us. The fall out in the subprime industry will be interesting. This past week, ETrade made news by exiting the mortgage market. Countrywide has already left the subprime market. This will leave big players, like Wells Fargo […]

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Depending on who you ask, holders of LEND were treated to either a great ride or a bad stomachache yesterday. The stock shot up over 50%, from a Thursday close of $6.50 to a peak around $10, then sold off gains to $8.66. The main reason for this rocket was an announcement that LEND had […]

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Accredited Home Lenders Holding Company
Currently trading at $7, supposedly going to be bought for $15…more to come
http://finance.yahoo.com/q?d=t&s=LEND
Cramer insists the $15 will go through unless Loanstar goes bankrupt.
Click Here for the The Street video
Interesting discussion of options from Google Finance

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Shortly after the opening bell yesterday, BNP Paribas announced they were pausing three of their largest funds due to uncertainty in the U.S. home lending market. BNP Paribas is not the first bank to announce problems stemming from the rising tide of loan problems here, but they are the most recent. Other European establishments have […]

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The San Diego Union Tribune has a front page story this morning (Sunday, August 5th) about the increasing rate of mortgage defaults and the implications for homeowners in the San Diego area. While default rates are skyrocketing — as they are across the country — the current rate of defaulted homes on the market is […]

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According to Reuters, American Home Mortgage will be closing permanently this Friday. The news broke today after an email from CEO Michael Strauss to employees was widely circulated. The company now faces the lenders cutting off access and will likely have liquidate assets to have any hope of reemerging as the goliath it once was. […]

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American Home Mortgage shares were down sharply today after a discouraging news release that stated multiple problems. Lenders are demanding more hard currency backing, the dividends have been delayed, and write-downs are increasing. Shares fells as far as $6,25 today, off the previous close of $10 and reaching levels not seen since 2003. The stock […]

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