The much-praised and long-awaited film “99 Homes” opens in six cities October 2, 2015 and nationally on October 9, 2015. The film is a fast-paced thriller that takes a hard look at the brutal reality of the foreclosure crisis. Audiences and critics have praised the film, particularly the performances of Andrew Garfield, Michael Shannon and Laura Dern, and the writing and direction of Ramin Bahrani.
What happened to all the homes foreclosed on when the housing bubble burst? Millions of people lost their homes and most of their life savings when the value of their homes plummeted during the most recent financial collapse. Many found they could not keep up with mortgage payments, either because they lost their jobs during the recession or because they were overextended financially for some other reason. Some would say many never should have been offered the loans in the first place. The fact remains that many people went from pursuing the “American Dream” of home ownership to struggling just to keep a roof over their heads by renting in a very short span of time.
The banks lost tons of money on loans that would never be paid in full, but they did have something very tangible in place of the money – the property. The real estate still…
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When an unidentified “someone” coughs up 1.6m bucks to buy 15,000 puts on a bondmarket collapse, it might be time to sit up and wake up. The puts suggest a level not hit since mid 2009. If the guy’s right, his put will be worth $27m.
When a Bric like Brazil’s graph forecast dives from +0.5% to -3.0% in 9 months flat, it may be time to sit up, wake up, and take some frigging notice. Ditto when the Canadian dollar hits an eleven year low against the $US.
When the Kansas City Fed’s manufacturing index slumps from plus 10 to minus 15 year on year in August, it may be time to take part in that so-last-year iced water bucket over the head shtick.
When Standard & Poors cuts the Ukraine’s credit rating from C/C (the C is for crap) to ‘selective default’ – above the B/B confirmation given…
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Eleven months after Comcast reached a $50 million deal that would close the books on a class-action lawsuit originally filed back in 2003, the settlement has been approved by a federal court. However, because the window for filing a claim has already closed, a number of the affected 800,000 customers won’t get a bill credit; […]