If Foreclosures Don’t Double Soon, Clearing The Real Estate Mess Will Take 8 Years

If monthly Foreclosures double (hypothetically) to 180k from April’s record 92.5k and stay at that level — based upon the 1) monthly average Notice-of-Default (NOD) 2) HAMP and private mortgage mod volume 3) and conservative cures and redefault rates — it will take 42 months to clear the portion of the 8mm loans presently in the distressed pipeline […]

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Euro and Oil Will Continue to Plunge

By: Dan Weil– The carnage isn’t over for the euro, which has dropped to a four-year low against the dollar, says investment guru Dennis Gartman. Europe’s financial crisis will continue to drive the common European currency down — below $1.20, says the publisher of The Gartman Letter. The euro recently traded at $1.2240. “It’s having […]

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A Very Expensive Milestone

This past Wednesday, the United States crossed a very expensive milestone: U.S. national debt exceeded $13 trillion.  It is a mind-boggling number.  What does this mean for you and your family?  The debt per citizen is $42,025 and the debt per taxpayer is an astronomical $117,982. How did we get here?  Years of fiscal mismanagement […]

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Arizona Responds to Los Angeles Threat of Boycott

Dear Mayor Villaraigosa I was dismayed to learn that the Los Angeles City Council voted to boycott Arizona-based companies-a vote you strongly supported-to show opposition to SB 1070 (Support our law Enforcement and Safe Neighborhood Act.) You explained your support for the boycott as follows: “While we recognize that as neighbors, we share resources and […]

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L.A. Mayor: Illegal Immigration Adds to ‘Economic Might’ of Deficit-Ridden California

By Christopher Neefus Washington (CNSNews.com) – Los Angeles Mayor Antonio Villaraigosa told CNSNews.com Thursday that illegal immigration has not contributed to his city’s budget problems, but, on the contrary, that illegal immigration adds to the “economic might” of California. “In California, I think there’s a real sense that these immigrants provide a great deal to the economic might of […]

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