There is so much going on; I almost need to take a day off just to keep up with the news. But here is quick round up.
Remember how I said that every adult should read this week’s essay of the week? This is why…..
Thousands of homeowners face an “imminent risk” of losing their homes because of clashes between American Home Mortgage Investment Corp. and its former financial backers, according to Freddie Mac, a government-chartered housing financier.
In documents filed with the U.S. Bankruptcy Court in Wilmington, Del., Freddie Mac said it seized $7 million that homeowners sent to American Home to cover principal and interest payments, property taxes and insurance just before the company’s Aug. 6 collapse. American Home quit making payments to tax authorities and insurance companies Aug. 24.
Freddie Mac said 4,547 loans valued at nearly $797 million are at stake. It said it doesn’t have the loan files necessary to pay insurance premiums and property taxes on them, however. “Therefore, there is the imminent risk that borrowers’ insurance policies may lapse for nonpayment, subjecting the borrowers to a risk of loss of their mortgaged properties,” Freddie Mac said.
Property-tax bills will go unpaid, Freddie Mac said, “resulting in increased tax liabilities and possible tax-foreclosure sales.” It added it needs a court order allowing it to seize American Home’s loan files “to avoid these serious consequences stemming from AHM’s inability to service the Freddie Mac mortgage loans.” . . .
That is just a teaser. You really should follow the link above and read the whole thing.
Also, Israel has hit targets in Syrian but both the Syrians and the Israelis are keeping the details hush hush. It may have been Nuclear materials from North Korea that they were hitting. This from the Jerusalem Post…
An official in the Bush administration told the New York Times Wednesday that in recent days the IAF has flown over Syria several times in an attempt to gain intelligence on a number of suspected nuclear facilities Israel believes have been sponsored by North Korea.
“The Israelis think North Korea is selling to Iran and Syria what little they have left,” the official told the Times, adding that the alleged strike had not necessarily provided evidence to confirm the intelligence.
Meanwhile, North Korea slammed Israel for the alleged air strike, calling it a “dangerous provocation” aimed at breaching Syria’s sovereignty and upsetting peace and security in the region.
“North Korea harshly condemns the said incursion and expresses solidarity and support of the Syrian nation in its righteous cause of safeguarding national security and peace in the region.”
See here for a collection of good links on the subject. See here for some interesting thoughts on the matter.
In separate news oil has hit $80 a barrel for the first time ever.
We live in interesting times.