Comments on: 60 Minutes on the Mortgage Meltdown http://allfinancialmatters.com/2008/12/15/60-minutes-on-the-mortgage-meltdown/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 18:41:00 +0000 hourly 1 http://wordpress.org/?v= By: Charlie-paylessforfood.com http://allfinancialmatters.com/2008/12/15/60-minutes-on-the-mortgage-meltdown/comment-page-1/#comment-388610 Charlie-paylessforfood.com Mon, 15 Dec 2008 23:17:31 +0000 http://allfinancialmatters.com/?p=3024#comment-388610 What is especially scary is the relationship between unemployment and foreclosures. As unemployment rises so to will the foreclosure rates. Consequently, the loss of the Big 3 automakers if there is no bailout could trigger a disastrous rise in home foreclosures resulting in even stricter lending standards by banks - leading to more people unable to refinance their ARM mortgages leading to even more foreclosures. A truly vicious downward spiral. What is especially scary is the relationship between unemployment and foreclosures. As unemployment rises so to will the foreclosure rates.

Consequently, the loss of the Big 3 automakers if there is no bailout could trigger a disastrous rise in home foreclosures resulting in even stricter lending standards by banks – leading to more people unable to refinance their ARM mortgages leading to even more foreclosures. A truly vicious downward spiral.

]]> By: TheMightyQuinn http://allfinancialmatters.com/2008/12/15/60-minutes-on-the-mortgage-meltdown/comment-page-1/#comment-388549 TheMightyQuinn Mon, 15 Dec 2008 20:16:34 +0000 http://allfinancialmatters.com/?p=3024#comment-388549 Thanks for this. And my wife was worrying that we'll miss the bottom when we buy in 2010/2011. Maybe we'll rent a mansion for a couple of years until things bottom out. Thanks for this. And my wife was worrying that we’ll miss the bottom when we buy in 2010/2011. Maybe we’ll rent a mansion for a couple of years until things bottom out.

]]> By: Roy in Virginia http://allfinancialmatters.com/2008/12/15/60-minutes-on-the-mortgage-meltdown/comment-page-1/#comment-388540 Roy in Virginia Mon, 15 Dec 2008 19:06:22 +0000 http://allfinancialmatters.com/?p=3024#comment-388540 Thanks for sharing this link! Scary forecast for several years out. Thanks for sharing this link! Scary forecast for several years out.

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