Articles About Default

Author:
James I. Clark III
Posted:
07.09.2012

Back to the Drawing Board for Greece

International lenders and Greece will renegotiate the program on which the second financial bailout for Athens is based because the original has become outdated, according to a senior Eurozone official.  Greece received a €130-billion bailout in February from the European Union and the International Monetary Fund (IMF).  General elections in May and June delayed the […]

Read More ›
Author:
James I. Clark III
Posted:
04.23.2012

Is Greece Headed Towards a Third Bailout?

Lucas Papademos, Greece’s prime minister, said that his crisis-plagued country could require a third bailout just weeks after it secured a second round of rescue funds after much discussion in Brussels. Athens may have received the biggest bailout in history but another lifeline could not be ruled out, according to Papademos.  To date, the European […]

Read More ›
Author:
Mike Ochs
Posted:
03.26.2012

Foreclosures Decline, But Expect a Spike Thanks to Banks Settlement

Foreclosure filings declined eight percent in February, the smallest year-over-year decrease since October 2010, as lenders began working through a backlog of seized properties, according to RealtyTrac Inc. A total of 206,900 homes received notices of default, auction or repossession last month, down two percent from January, according to the data firm, which noted that […]

Read More ›
Author:
Mike Ochs
Posted:
02.21.2012

As Foreclosures Decline, Federal Government Makes Deal With 49 States

In good news for beleaguered homeowners, the Obama administration announced a $26 billion mortgage settlement, which 49 out of 50 state attorneys general signed on to.  The deal won praise from such groups as the Mortgage Bankers Association, the industry trade group for lenders, and the Center for Responsible Lending, a public interest group advocating […]

Read More ›
Author:
Tom Silva
Posted:
09.01.2011

Fitch Ratings Reaffirms U.S. Creditworthiness as AAA

Former Federal Reserve chairman Alan Greenspan says that Italy is the root of most of Europe’s economic problems, as well as our own.  In a recent appearance on “Meet the Press”, “It depends on Europe, not the United States,” Greenspan said. “The United States was actually doing relatively well, sluggish but going forward until Italy ran […]

Read More ›
Author:
James I. Clark III
Posted:
07.05.2011

Greece Has Worst Credit in the World – Below Pakistan and Ecuador

European finance ministers are working to resolve a quandary over how to talk banks into “voluntarily” contributing to a second Greece bailout and avoiding a destructive debt default. This attempt to rescue Greece’s finances hinges on how far banks, pension funds and insurers will accept new terms on old debts prior to repayment by Athens.  […]

Read More ›
Author:
James I. Clark III
Posted:
04.18.2011

Want to Buy a Toxic Asset? The Treasury Department Is Selling Them

The Treasury Department is planning to sell $142 billion worth of toxic assets that it acquired during the financial crisis.  According to Treasury, it wants to sell approximately $10 million worth of assets every month, depending on market conditions and hopes to end the program next year.  Treasury acquired the securities — primarily 30-year, fixed-rate […]

Read More ›
Author:
James I. Clark III
Posted:
11.08.2010

Fannie, Freddie Bailouts Could Cost the Taxpayers $154 Billion

The ultimate cost of bailing out Fannie Mae and Freddie Mac could cost as much as $154 billion unless the economy improves, according to a government report.  The mortgage giants rescue – which has kept the housing market on life supports – already has cost $135 billion to cover losses on home loans in default.  […]

Read More ›
Author:
James I. Clark III
Posted:
10.06.2010

Waiting for Defaults

Real estate professionals who had been expecting a worst-case scenario – an onrush of distressed commercial properties coming onto the market – are still waiting for that to come to fruition.  Ben Johnson, writing in the National Real Estate Investor, notes that “Keep on waiting/lurking seems to be the prevailing view.  According to New York-based […]

Read More ›
Author:
James I. Clark III
Posted:
02.19.2010

Sovereign Debt Could Be 2010’s Subprime

Greece, Spain, Ukraine, Austria, Latvia and Mexico are among the nations in danger of sovereign debt default, putting the global economic recovery from the recession at risk.  Sovereign debt is the debt of nations.  For example, U.S. Treasuries are backed by the “full faith and credit” of the government; similarly, other countries sell bonds to […]

Read More ›

Categories

Archives