No Credit Where Credit Is Due 0
What Duncan calls the “Big Shitpile” continues to spread:
It warned borrowers that its new deals would be more expensive.
C&G said: “From close of business today, Monday May 19, we will be withdrawing and replacing our entire range of mortgage products. Most rates will increase by 0.25% following last week’s rise in the cost of funds.”
Meanwhile, back at home:
“For squatters, foreclosed homes like this are like a camp-ground with free camping,” says real-estate broker Marc Charney, a foreclosure specialist, as he enters the home in Brockton, Massachusetts, and shines a flash-light at a mattress where homeless people have been sleeping each night.
Squatting is on the rise across the United States as foreclosures surge, eviction notices mount and homes go unsold for months, complicating the worst U.S. housing slump in a quarter century and forcing real-estate brokers to enlist the help of law enforcement and courts to sell empty houses.
