Posts tagged sub-prime

FHA SUB-PRIME DEFAULTS AT 9% IN CALIFORNIA

May18
2012 15 Comments Written by Chriss W. Street
FHA SUB-PRIME DEFAULTS AT 9% IN CALIFORNIA

The American taxpayer is about to be saddled with another multi-billions bail-out of sub-prime mortgage loan losses  from the stealth Federal Housing Authority (FHA) lending program that has been offering ultra-low 3.5% down payments since 2009.  Delinquency rates are already at 9% in California and expanding rapidly across the United States. Sub-prime lending drove the [...]

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California: The Frog in the Sub-Prime Frying Pan

May19
2010 11 Comments Written by Chriss W. Street

Just as a frog will jump out of a hot frying pan, but will sit in water that slowly goes from cold to hot until he cooks to death; California’s politicians have sat quietly as the accumulation of chronic budget deficits bubbling up from an uncomfortably warm problem to a scalding hot crisis. Even the [...]

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