Great Recession Leaving Tracks

    At his rented home in Lehigh Acres, James Mould sells items that families in the area tossed out before moving As  the Great Recession/Depression II plays out, it’s leaving tracks almost everywhere imaginable.  How this event impacts any particular person really depends upon how leveraged (indebted) one was and whether or not one was … Continue reading

Debtor’s Dilemma: Pay the Mortgage or Walk Away

Well, in the post immediately preceding this one, we see that there are people whose financial situation is such that they have to worry about eating between getting their monthly food stamp allotment.  That’s not the full story of the financial crisis as we’ve another group of people who, while not needing to concern themselves … Continue reading

Homeowners in Distress

A recent report indicates that nearly one quarter of all US mortgages are underwater where the  outstanding mortgage is greater than the value of the underlying real estate.  If your mortgage balance is just slightly more than the value of the property, then it’s generally not a big deal.  Unfortunately, that’s not the case for many.  For many … Continue reading

Houses for $ 500 in Detroit, but no takers

They’re auctioning houses in Detroit for $ 500 and still have no takers.  It’s almost as if something like Katrina has hit Detroit.  This article is from Reuters. Detroit house auction flops for urban wasteland By Kevin Krolicki DETROIT (Reuters) – In a crowded ballroom next to a bankrupt casino, what remains of the Detroit … Continue reading