Credit repair after foreclosure - time is the only help
Tue Jul 8, 2008 12:07PM
Q: I was foreclosed on my rental property 3 months ago and now can't refinance my own home. My credit is very bad with scores of 412, 458 and 467. I also had few other missed payments on credit cards. What is the best way to repair my bad credit?
A: The only way out is to wait. If you can still use credit cards, use them, keep some balance and pay it on time without paying off each month, and keep balance/credit limit ratio under 35%. But the main thing is time. It will take likely close to 18 months to 2 years to see high 500s as far as credit scores go, and 2 years for sure to get a new loan, unless regulations will change.
IndyMac is worthless, yet insiders loaded up plenty
Tue Jul 8, 2008 12:07PM
IndyMac directors and other insiders bought huge number of shares since February, paying as high as $8 per share, which today trades under 40 cents, and according to some is worthless. The moral is never think that insiders knows what is happening inside, unless they were simply smoking something.
Will airlines be nationalized?
Sun Jul 6, 2008 10:07PM
Major airline stocks are getting close to nothing ...
If this isn't a recession than what?
Sun Jul 6, 2008 10:07PM
The value of homes owned by U.S. banks more than doubled to $8.6 billion in the first quarter of 2008 from $3.59 billion a year earlier as lenders repossessed homes in default, data compiled by Federal Deposit Insurance Corp. in Washington show."
When housing market will recover?
Thu Jul 3, 2008 10:07AM
In my opinion, not earlier than in the end of 2010, beginning of 2011, will we see some feeble signs of recovery. What I mean is that huge inventory of unsold home will somewhat lessen. At that point housing market may just start to move. And we will never see the prices that were on the top. Plus certain conditions must be created for this to happen - large population influx of educated and/or well enough consumers, reasonably low interest rates and good lending parameters.
Why there won't be a bubble in commodities
Mon Jun 30, 2008 08:06AM
Lets face it, Wall Street hates gold and silver and yes they don't like commodities either. I don't remember any big shot analyst preaching dot-com or technology bubble, or real estate one. Contrary to that, CNN, CNBC and the likes did everything to mislead the public, calling huge drops "corrections" and promising swift recoveries after each fall. The stock bubble was quite rational - companies with no product and no future were pumped and pumped and pumped ... and then dumped. Commodities on the other side have real meaning, as all of us must eat, drive, use heating gas, rubber tires, fertilizer and buy gold, silver, palladium and platinum to keep some money real, as dollar falls.
More financial pain to come
Sun Jun 29, 2008 11:06PM
On Thursday the DOW fell 358 points to close at a new low for the year and the NASDAQ dropped 80 points and the S&P 500 gave up 39 points. Then on Friday the DOW went down additional 107 points, while NASDAQ and S&P 500 fell only less than 6 and 5 points respectively each. In my opinion, there is no bottom in sight. Sure markets will rally a bit, precisely because so many fund managers think that bottom is here or at least near. The market will bottom when a real panic sets in. You will, just like in 2000, see the DOW dropping 300 to 400 points a day or two in a row, then a bit of a breather, and then again. DOW can go below 10,000, NASDAQ may fall as low as 2,050 and S&P will likely test 1,100. Many of you will say that I am crazy, but we shall see.
The did fall, I hope you got out in time
Thu Jun 26, 2008 03:06PM
Hate to say "I told you so" but I'll say it. I did and was right on the money. And I am telling you now, it is just a beginning, not the end.
Increase your credit score by lowering revolving balances
Thu Jun 26, 2008 12:06AM
Those include credit cards, department store/gas station cards and home equity lines of credit. Keep each balance below the 35% of credit limit for each revolving line. And if possible, open an additional credit card and don't use it.
The sky is falling down, don't listen to Kramer, get out
Tue Jun 24, 2008 10:06PM
Close your margin positions, sell every stock Mad Money's Jim Kramer told you to hold, short if he said buy. The stock market will sink shortly. It may rally a bit, but the picture looks bleak.
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Recent Entries
- Credit repair after foreclosure - time is the only help
- IndyMac is worthless, yet insiders loaded up plenty
- Will airlines be nationalized?
- If this isn't a recession than what?
- When housing market will recover?
- Why there won't be a bubble in commodities
- More financial pain to come
- The did fall, I hope you got out in time
- Increase your credit score by lowering revolving balances
- The sky is falling down, don't listen to Kramer, get out
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