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No we can’t get a loan
For a respectable home
Just because my girl defaulted on an old credit card
If we’d gone to free credit report dot com

Recommended Books:
The Road to Wealth: Suze Orman’s Complete Guide to Your Money
The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey
Jim Cramer’s Getting Back to Even by James J. Cramer, Cliff Mason
I’d be a happy bachelor with a dog and a yard.

New Car Commercial.Well I was shopping for a new car, which one’s me
A cool convertible or an SUV?
Too bad I didn’t know my credit was whack
‘Cause now I’m driving off the lot in a used sub-compact.

F-R-E-E, that spells free-
Credit report dot com, baby
Saw their ads on my TV
Thought about going but was too lazy
Now instead of looking fly and rollin’ phat
My legs are sticking to the vinyl and my posse’s getting
Laughed at

New Job Commercial.They say a man should always dress
For the job he wants, so
Why’m I dressed up like a pirate
In this restaurant?
It’s all because some hacker
Stole my identity
Now I’m in here every evening
Serving chowder and iced tea

Shoulda gone to:
Free credit report dot com

Yee-haa!

I coulda seen this coming at me like an atom bomb
They monitor your credit and send you email alerts
So you don’t end up selling fish to tourists in T-shirts

Rock Star Commercial.When you’re a rock star
You get to party hard
Champagne and caviar
Tricked-out exotic cars

It’s just how I thought it’d be
‘cept the party’s not for me
‘Cause some punk opened a credit card with my ID

Free What? (free credit!) report dot com (I said it!)
That’s the site I’m gonna hit when I go home
They know how credit works
They send email alerts
Now I’m finding out how bad reality hurts

Duration : 0:0:40

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Commercial Real Estate’s Coming $1.4 Trillion Crisis
By LITA EPSTEIN – Daily Finance
In a report released Thursday, the Congressional Oversight Panel sounded the alarm bell about a potential crisis involving $1.4 trillion in commercial real estate loans that will come due between now and 2014. The panel warns that the “financial crisis will not end” because of the “potential impact that breakdown in those markets could have on local communities, small businesses, and individuals.” It is feared that when these loans come due, companies will be unable to repay or refinance them because of deteriorating conditions in the commercial real estate market. Most of these loans were made at the top of the real estate bubble in 2007 and have lost as much as 40% of their value. Nearly half are underwater — the properties are worth less than balance of their loans.
http://www.dailyfinance.com/story/investing/commercial-real-estates-coming-1-4-trillion-crisis/19353759/

Duration : 0:10:57

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Commercial Real Estate’s Coming $1.4 Trillion Crisis
By LITA EPSTEIN – Daily Finance
In a report released Thursday, the Congressional Oversight Panel sounded the alarm bell about a potential crisis involving $1.4 trillion in commercial real estate loans that will come due between now and 2014. The panel warns that the “financial crisis will not end” because of the “potential impact that breakdown in those markets could have on local communities, small businesses, and individuals.” It is feared that when these loans come due, companies will be unable to repay or refinance them because of deteriorating conditions in the commercial real estate market. Most of these loans were made at the top of the real estate bubble in 2007 and have lost as much as 40% of their value. Nearly half are underwater — the properties are worth less than balance of their loans.
http://www.dailyfinance.com/story/investing/commercial-real-estates-coming-1-4-trillion-crisis/19353759/

Duration : 0:10:54

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What I learned today will have devastating ramification for the real estate marketing and in turn the entire financial and stock market and the broader economy as a whole.

If true…our real estate fate is seal. There will be more housing and real estate foreclosure carnage ahead. The road is long.

Prepare yourself and protect your family from this coming economic catastrophe.

PLEASE RATE, LINK, SHARE and SPREAD the word so others can learn about the real nature of our real estate and economic crisis. Don’t be a sponge to the talking heads that spew only that which benefits them and their bosses. Wake up!
========================================
From L.A Times:

Bulk of bank-owned homes aren’t even on the market yet
“Banks to unleash flood of REOs” at Inman News looks at the effect of foreclosures on the housing market this year:

Inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale — often in communities already awash in distressed properties….

Because it can take weeks or months for lenders to put repossessed homes on the market, the impact of real estate-owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled Asset Relief Program (TARP) and other bailout measures may also have taken some of the heat off of lenders to unload REO properties at fire-sale prices.

But with the emphasis of TARP and other government relief efforts now expected to shift to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale.

“It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co.

So how many bank-owned properties aren’t even on the Multiple Listing Service yet? RealtyTrac senior vice president Rick Sharga puts the number at 75%. That’s a lot of houses.

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Tags: “The dollar collapse” “housing crisis” “financial crisis” subprime hyperinflation inflation economy “economic collapse” “stock market” “stock market collapse” “real estate” fed “federal reserve” money “fiat money” gold silver commodities housing bubble 2009 2008 downfall investing for sale training agent agency selling subprime Peter Schiff Jim Rogers Gerald Celente Alex Jones Ben Bernanke

Duration : 0:7:54

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Duration : 0:9:47

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Aug. 10 (Bloomberg) — The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed.

Property values have fallen 35 percent since October 2007, according to Moodys Investors Service. Thats making it tough for owners to refinance almost $165 billion of mortgages for skyscrapers, shopping malls and hotels this year, pressuring companies such as Maguire Properties Inc., the largest office landlord in downtown Los Angeles, to put buildings up for sale.

Negative Fundamental

Demand for commercial space comes from employment and the income generated by that employment, said University of Pennsylvania Professor Joseph Gyourko, director of the Wharton Schools Samuel Zell and Robert Lurie Real Estate Center in Philadelphia. Mounting job losses are a really significant negative fundamental, signaling that conditions are going to be tough for the industry for a while, he said.

That may spill over into mounting losses at some banks. Forty-seven percent of loans at the 7,000-plus smaller U.S. lenders are in commercial real estate, compared with 17 percent for the biggest banks, according to New York-based Goldman Sachs Group Inc.

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Duration : 0:10:23

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