Countrywide Financial Corp., the nation's largest mortgage lender, said Monday it has eliminated about 500 jobs as it tries to ride out problems from a credit crunch that has rocked the home loan industry....The Calabasas-based company also tried to reassure its banking customers that their money was safe. Countrywide ran full-page ads in U.S. newspapers, including the Los Angeles Times and Detroit Free Press, in which it asserted "the future is bright" at Countrywide Bank FSB....Countrywide said last Thursday it had borrowed $11.5 billion so it could keep making home loans.
U.S. foreclosures rise sharply in July.
Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday....The figures are the latest measure of the ailing housing market, which has seen defaults and foreclosures soar as financially strapped borrowers have failed to make payments or find buyers.In all, 179,599 foreclosure filings were reported during July, up from 92,845 in the year-ago month, according to Irvine-based RealtyTrac Inc.
If you're in California, Florida, Michigan, Ohio or Georgia, keep those blinders on -- those states account for over 50% of the foreclosure filings.
Here is the national debt in this country:
The Outstanding Public Debt as of 21 Aug 2007 at 05:18:02 PM GMT is:
8,977,738,459,779.90
The estimated population of the United States is 302,768,239so each citizen's share of this debt is $29,652.18.
The National Debt has continued to increase an average of$1.45 billion per day since September 29, 2006!
On a side note: a national debt clock is added on the blog so that you can see the actual numbers every second of the growing national debt.
2 comments:
The national debt clock is pretty scary, this should be in every airport to wake people up.
Yes, and it is wake up call.
Post a Comment