A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
There’s not much question that the recession has continued to deepen and recent weeks and the resulting damage has continued to […]

The Obama administration is talking $1 trillion for stimulus package numero dos.
In honor of that I have re-written the lyrics to Barenaked Ladies “If I had a Million Dollars” (NOTE: One F-Bomb at the beginning of this song. You’re warned.)

If I had a trillion dollars (If I had a trillion dollars) I’d buy you […]

Recession. We see it in the media. We feel it in our wallets. It keeps us awake at night, even though we know it can’t last forever.
“It is the here-and-now that has the most impact on us, and if the current situation is less ideal than it was a year ago then it may be […]

Guest post by Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing and business.
Two weeks ago the National Bureau of Economic Research officially confirmed what we already knew: we  have been in a recession for the past year. This begs the question, how long until we declare […]

Housing Wire reports that OCWEN, the massive mortgage servicer, reported what it deems “solid success” with its loan modification efforts in the face of rising mortgage defaults. Loan modifications, which many have pointed to as a key factor in reducing the damage caused by the housing meltdown, have been tough to come by as […]

A guest post from Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a satirical look at marketing and business.
John Dugan, head of the U.S. Office of the Comptroller of the Currency, said yesterday that nearly 36 percent of borrowers who received restructured mortgages re-defaulted within three months. That rate jumped to […]

Another guest post from MG Dungan who went from Wharton to Wall St. to real estate to Blown Mortgage.
Now here’s a lagging indicator for you: at least a year after the fact, the recession is now known to have began in December 2007. A depression comes next, but since there has been only one in […]

California has quickly turned into a case study for the long-term effects of the housing market. The state, which ranks as the eighth largest economy in the world, found itself in a state of quiet desperation when the credit crunch took effect in October. California had already delayed its yearly budget over 80 days, finally […]

On Monday, all of the financial world turned its ears to announcement that the United States is indeed in a recession, confirmed by the National Bureau of Economic Research. Of course, most of us who have followed the state of the economy already knew this, and are likely shaking their fists at the […]