Whoops! Nov 09, 2007 in Economy, Housing Bubble Here’s a classic case of “be careful what you wish for“. Lenders are now getting bitten in the ass for pushing harsh new bankruptcy laws through the Congress. Since homeowners can’t as easily file Chapter 7 or 11 to get rid of credit card debt they’re being forced into delinquency on their mortgage payments. Unlike credit cards, a home loan is a secured debt, so the homeowners have the ability to leave the keys on the kitchen table and wal
Will Chrysler Loans Sit in the Showroom?
Chrysler’s banks might soon be forced to shift into reverse gear. [IMG Showroom]The market is buzzing about the possibility that the sale of $4 billion of loans backing the August sale of the automaker to Cerberus Capital Management is in trouble. The offering has already been discounted, and it only represents a part of the $7.5 billion the banks holding the paper — including J.P. Morgan Chase and Citigroup — are trying to get off their books. Still, the offering was heralded as a sign of ren
Will Chrysler Loans Sit in the Showroom?
Chrysler’s banks might soon be forced to shift into reverse gear. [IMG Showroom]The market is buzzing about the possibility that the sale of $4 billion of loans backing the August sale of the automaker to Cerberus Capital Management is in trouble. The offering has already been discounted, and it only represents a part of the $7.5 billion the banks holding the paper — including J.P. Morgan Chase and Citigroup — are trying to get off their books. Still, the offering was heralded as a sign of ren
Blog tag: Loan Non Personal Secured