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Do 30 percent of seriously delinquent borrowers “self-cure” without receiving a modification?
Justin Fox defends Taibbi — and even Gasparino
Downgrade Berkshire at your peril
Measuring vehicle miles travelled: I’d like to see insurers kick-start this one, charging per mile.
“Innovation as regulatory evasion is something regulators should expect. What we had instead was precisely the reverse.“
More than you could ever want on why “the affordable mortgage depression” won’t end until 2013
The new Wessell book sounds like a good read
Kindle is much better for fiction than nonfiction
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“Do 30 percent of seriously delinquent borrowers “self-cure” without receiving a modification?”
Put it another way and it seems more plausible. 70% of seriously delinquent borrowers default or need a modification. The single most common cause of delinquency is unemployment. So it stands to reason that a significant proportion of people will become seriously delinquent when they lose their job, and then become current again when they find a new one. The current house price situation muddies the water a fair bit, because the incentives to walk away are much higher, but not every state lets you do it, and there are obviously costs in doing so.
insurance on a per mile basis would be great for me, so someone tee it up, please. Road use charges on a per mile basis seems silly to me — gasoline taxes approximate the same effect, with an added tax on fuel inefficient vehicles. That seems like a sensible set up already in place.