Mortgage defaults, forelosures and falling real estate creating problems
July 2nd, 2007
Now slowly we are getting the details of the Bear Sterns sub prime mortgage debacle. They are not the only one. This is just the tip of the iceberg. Mortgage frauds have spread all over the country. The mortgages are suing their mortgage bankers, brokers, and even the financial institutions holding their mortgage.
The financial fireball is bigger that any one can imagine. It will take the stock market, the corporate bond market, and the real estate market with it. The huge Federal budget deficit and trade deficit and almost defunct Social Security Funds will not allow the Fed to resume this time.
The bank will start failing by early 2008. This will be followed by massive layoffs in financial services industry. The biggest problem will be in the investment banking. The liquidity will disappear. More real estate news
[Keywords: real estate ]
Entry Filed under: Real Estate Infos, Business