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self

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  1. Here we go.. Gordon Brown will use his new year message to draw his election battle lines as he warns voters not to let the Tories "wreck the recovery". The PM will promise "a decade of shared prosperity", warning against Tory "austerity and unfairness" as "the privileged few protect themselves". It follows Mr Brown's attacks in which he suggested the Tories were elitist. The Conservatives said the message showed Mr Brown was "intent on waging a negative and pointless class war". Mr Brown's new year message, to be delivered in a webcast on the Downing Street website later, will include a
  2. Here we go.. Gordon Brown will use his new year message to draw his election battle lines as he warns voters not to let the Tories "wreck the recovery". The PM will promise "a decade of shared prosperity", warning against Tory "austerity and unfairness" as "the privileged few protect themselves". It follows Mr Brown's attacks in which he suggested the Tories were elitist. The Conservatives said the message showed Mr Brown was "intent on waging a negative and pointless class war". Mr Brown's new year message, to be delivered in a webcast on the Downing Street website later, will include a
  3. From Bloomberg: July 21 (Bloomberg) -- Lloyds Banking Group Plc, Britain’s biggest mortgage lender, will post writedowns of 50 billion pounds ($82.2 billion) by the end of 2010 as rising unemployment causes bad debts to soar, said Sandy Chen, Panmure Gordon & Co. banking analyst. Lloyds’s impairments will rise to 23.5 billion pounds this year from 15 billion pounds in 2008, Chen said at a meeting with reporters in London today. Bad debts will reach a similar level next year before declining in 2011, he added. “We won’t be post-crisis until 2012,†said Chen, who has a “sellâ€
  4. Yeah I think it's from the tickerforum. I've seen the chart before on there quite a few times. I don't fully understand what it shows though.
  5. I mentioned Mr Mortgage earlier (aka Mark Hanson). He has a great website with some great info and figures. I think he's actually in the mortgage business so he knows what he is talking about and does his own research: http://www.fieldcheckgroup.com/ Anyway, he updated his blog just yesterday. "One in five properties in Florida is in some stage of foreclosure". I don't know if I can copy and paste his stuff here so please check out the link, best sit down first though becaise the numbers are pretty horrific.
  6. Thanks for that yellerkat. I knew there was an updated version of it but I only had the original version in my photobucket account.
  7. I wanted to post the original mortgage reset chart. Scary, yet very interesting, however, this chart only tells us about the resets and NOT default rates when these resets happen. I've been looking around online and can only find this info about default rates. This info was produced by Mark Hanson (AKA Mr Mortgage on several other sites and so can be assumed reliable). http://www.fieldcheckgroup.com/2009/04/23/231/
  8. The old guy's son is about to buy. Says he doesn't think NE will be a problem for him, okaaaay.
  9. And another thing, the banks actually booked those extra interest payments which were to be added on to the original principle as EARNINGS. Therefore, they were generating "profits" which weren't actually there. IE, collecting future potential "earnings" before they actually got that money.
  10. I think you may be right. Some info from a WSJ article: -San Francisco-based Wells Fargo holds a mountain of Pick-A-Pays, having acquired $115 billion of the loans in its purchase of teetering Wachovia Corp., which it agreed to buy late last year. -JPMorgan, for its part, holds $40.2 billion in option ARMs that the bank acquired when it purchased most of Seattle-based Washington Mutual Inc., which collapsed last year. The New York company also said in a filing that it has some exposure to an additional $46.5 billion in option ARMs sitting in complex off-balance-sheet entities. http://onl
  11. Interesting.. thanks OP for the info, much appreciated.
  12. I'm sure most of us on here have heard of these types of mortgages which were available in the U.S right up until the top of the market actually. I've been looking into them since I first saw that now infamous mortgage reset chart late last year. Anyway, if you have only heard of these and do not understand what they actually were then I thought I'd help you out. Basically, the Option ARM mortgage which allows the borrower to get a mortgage at an initially very low teaser rate which lasts for a set number of years. Great right?? Well no, say the full rate is 6% (that is the full interest and
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