Random Feed wrote an interesting post today on
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I got very excited yesterday, and I think “my ship has finally come in”. I received an e-mail saying that I had won the “Spanish El Gordo” lottery with a prize of one million pesetas, even though Spain uses the Euro. I knew it was for real since it said, “REFERENCE NUMBER: FCB/09/001, BATCH NUMBER: 2009/430/SPELG”, and then had some Spanish sentences. Very official. There was no way it was fake, but since I know that you can’t always trust the internet, I sent them my social security

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Random Feed wrote an interesting post today on
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The Center for Responsible Lending (CRL) estimates that one million new foreclosures have been filed so far in 2009. The news comes on the heels of the release of the first quarter 2009 National Delinquency Survey from the Mortgage Bankers Association (MBA) which reveals that 12 percent of all mortgages are now delinquent, the highest level in the 37 years the MBA has been measuring delinquency rates. Yet, for some Americans, foreclosure properties represent an excellent opportunity to buy

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Random Feed wrote an interesting post today on
Here’s a quick excerpt
This article tentatively accepts the proposition that the default of sub prime mortgages and the subsequent decline of housing prices have been the cause of critical problems in the banking system and collapse of credit markets world wide. Letís do some housing math. Last fall there were about one million delinquent mortgages. Let us presume the current figure is now fifty percent worse ñ i.e. one point five million homes. Assume that the average delinquent loan has a face value of about $

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