This is what is wrong with the subprime financial crisis. You and I both owned homes like this over the years. You see it from the street and know what it looks like inside. No surprises here, and we still have three of these as rentals. This one is for sale by an HSBC executive.
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HSBC Finance, part of the North America unit of HSBC Holdings PLC, has implemented a one-year moratorium on the collection of deficiency balances for short sales and foreclosures that occur after April 1, “given the current economic environment,” a company spokeswoman says.
Category: Subprime
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Bobby in Florida give this advice: “Here is a simple way to deal with credit card companies and their “predictive dialers” systems.
Category: Subprime
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The HSBC board is there to look after the interests of the shareholders, not the principles of the CEO. So far, those principles have cost $54 billion in write-offs and $15.5 billion in cash, and the dividend, once one of the safest in the world, has been chopped. The shareholders have surely paid enough; it’s time for Green to abandon the moral high ground and cut them loose from this ruinous business.
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Commenting on HSBC’s troubled Household Finance unit in the U.S., HSBC Chief Executive Geoghegan said on Tuesday that as the group discontinues writing new business and runs off the consumer lending operations, it expects to see elevated loan impairment charges over the next two years.
Category: Subprime
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