Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

Copyright Notice

Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Tuesday, February 16, 2010

Next Wave of Foreclosures

More foreclosure are looming on the horizon, and these buzzards will come to roost* over the next 18 months.  There are three sources; Option ARMS, the prime jumbo basket, and the Home Affordable Modification Program (HAMP) where only 2/3 of borrowers are current on their payments.

This is one of the many reason why I am so deeply pessimistic about the near to medium term future.

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* And I am not above mixing metaphors.  

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