Tuesday, July 03, 2007

Number of the Day.....Late Debt Payments

The numbers for the 2nd quarter should be even worse........Click on the headline to read more.

Die Zahlen für das 2. Quartal sollten noch schlechter ausfallen......Klickt auf die Überschrift um mehr zu lesen.

More Americans fall behind on debt payments

WASHINGTON (MarketWatch) -- More Americans fell behind on their debt payments in the first quarter than at any time since the 2001 recession, despite fewer delinquencies on credit-card debts, the American Bankers Association reported Tuesday.

Delinquencies of all types of consumer loans rose to 2.42% in the first quarter from 2.23% in the fourth quarter, led by higher rates of late payments for real-estate loans. It's the highest delinquency rate for the bankers' composite delinquency index since the second quarter of 2001.
Delinquencies on home-equity loans rose to 2.15% from 1.92%. Delinquencies on property-improvement loans rose to 1.61% from 1.29%. Mobile-home loans saw their rate of delinquencies rise to 2.94% from 2.82%.

>But here comes the "bright" spot with potential for a good "spin doctor" :-)

>Aber hier kommt die "gute" Nachricht. Sollte genügen um den Spindoctor damit zu beauftragen :-)

Delinquencies of credit-card debts fell to 4.41% of all accounts from 4.56% in the fourth quarter
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Anonymous Anonymous said...

Es geht weiter...

The next domino has fallen.

Bear Stearns was forced to lend $1.6 billion to one of the two funds...

If it was a 'loan', how is the money going to be repaid?

United Capital said it suspended redemptions because it did not want to be forced to liquidate its holdings at a time when the market for such securities was depressed.


"We expect to resume processing these redemptions as soon as is prudent, which we hope will be in the very near term," the firm said in its statement.

Hmm. If the reason for halting redemptions is the diminished value of the assets...

10:42 AM  
Blogger jmf said...

Moin Anon,

much more to come....

Here a good quote why the cc delinquencies were down

“‘People today, in order to keep themselves alive, they’re paying off their credit cards first rather than paying off their mortgages first in order to keep an open line of credit,’ said.”


4:16 AM  

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