Well needless to say opening night of the Republican convention was a bust and with good reason. I am sure that I can say for everyone that it was a good thing that Hurricane Gustav did not due as much damage as was feared. Gustav sure spiked up Oil prices and retreated quickly which [...]
September 3, 2008
GMAC plans to cut 5000 jobs
GMAC is now the latest lender to begin to throw in the towel.
It is abundantly clear now that this credit crunch is feeding upon itself. There are many sectors of the economy that are continuing to be healthy but Real Estate, Mortgage and Construction industries are very much in trouble.
Needless to say [...]
September 3, 2008
Homecomings is closing down
GMAC LLC said on Wednesday it plans to cut 5,000 jobs at its Residential Capital LLC mortgage unit, or 60 percent of that work force, and shut its 200 GMAC Mortgage retail offices as it combats weak credit and housing markets.
GMAC also plans to stop offering home loans through its Homecomings wholesale brokerage [...]
D Fragoso