SBI lashes back at loan defaulters! Many poor young graduates had approached State Bank Of India in Bodinayakanur at Tamil Nadu. When the students did not render their dues on time, an angry SBI flashed the photographs of the students who had turned defaulters. The Bank didn’t even spare the parents!!
The officials from the Department of Housing and Urban Development, Justice Department and 10 state attorneys general met with representatives of 14 largest mortgagers of the U.S. and reached a settlement to compensate house owners who incurred losses due to faulty foreclosures.
Friendship and money, they say, should be kept poles apart to maintain the relationship’s sanctity. The Money Times explores ways of asking your friend to lend you some money in dire situations.
Phyllis Caldwell, chief of the Homeownership Preservation Office has warned that any delay in the sale of mortgaged properties caused by investigations and revaluation of allegedly faulty foreclosure documents could initiate a downward trend in the housing market.
The government studies made public on Thursday revealed that the two mortgage companies Fannie Mae and Freddie Mac may require moderately less federal aid if the economy continues to recover at the same pace but any slowdown in the economy could mean that the government will have to shell out nearly double the amount.
With the economy still shaky, many wary investors have been turning to the safety of dividend-paying stocks.
The U.S. Treasury is ramping up its issuance of inflation-protected securities (TIPS) this year, in order to address foreign investors' concerns about soaring fiscal deficits and the inflation risk they create. TIPS issuance for 2010 is expected to increase by approximately 40% over the amount sold in 2009. Should you be following China's and Japan's impetus and raising your exposure to TIPS?
With all the volatility in the markets today, there's no shortage of market seers trying to call a bottom. Man of the Year Ben Bernanke called a bottom not once, but twice. Heck, even Keanu Reeves laid out what a world-ending market bottom looks like.
The recent rally may have you feeling pretty good about yourself. After all, Dow members such as Coca-Cola (NYSE: KO), United Technologies (NYSE: UTX), and 3M (NYSE: MMM) are all up big this year. If you're new to the market, you may be thinking that this stock-picking stuff is easy money.
That is the gold valuation iconoclastic Societe Generale analyst Dylan Grice proposes in a recent issue of his regular client note, Popular Delusions. Surely, if he is correct, it's time to take a seat next to central banks -- who look set to be net purchasers of gold in the second half of 2009 for the first time since 1988 -- and ride this train for a potential quintupling in price.