The sub-prime crisis and housing bubble
The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch.

Although the housing collapse in the United States is commonly referred to as the trigger for the global financial crisis, some experts who have examined the events over the past few years, and indeed even politicians in the United States, may believe that the financial system was needed better regulation to discourage unscrupulous lending.

The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.

The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.

By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.

In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.

Australia’s response to the global financial crisis – the first stimulus package
Australian prime minister Kevin Rudd and Treasurer Wayne Swan delivered their first budget in response to the global financial crisis, with the main objective being to fight inflation – a major problem in the local economy at the time.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.

The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.

By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.

In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.

Duration : 0:44:58

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Brookstone Law
4000 MacArthur Blvd., Suite 1110
Newport Beach, California 92660

http://www.Brookstone-Law.com

Duration : 0:5:28

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Give me a call if you or your clients need to get set up for a loan.

Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650

Duration : 0:1:30

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Duration : 0:2:44

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Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650
Email: RHoffman@wccloans.com

Duration : 0:2:58

Technorati Tags: amount, Angeles, bank, Broker, Business, California, cash, City, conv, Conventional, Corp, Corporation, county, credit, Diego, direct, equity, FHA, finance, financial, Government, H.A.R.P., HARP, home, insurance, interest, la, lender, loan, Los, los angeles, low, ltv., moreno valley, mortgage, murrieta, no, off, orange, Own, pay, Payoff, Program, rate, refianance, Rent, Riverside, San, Temecula, terms, Underwater, VA, vs, Wholesale Capital

Duration : 0:0:30

Technorati Tags: animated, Animation, bank, closing, coast, credit, Fast, home, loan, logo, mortgage, purchase, refinance, Space, Union

Duration : 0:5:2

Technorati Tags: #OccupyEastNY, 99%, bank, bank of america, brooklyn, Civil Disobedience, community, crisis, D6, December 6, East New York, economy, eviction, Extreme Home Takeover, foreclosure, Homeless, mortgage, nyc, NYCC, Occupy Our Homes, Occupy Wall Street, OWS, predatory lending, recession, squat, squatter, subprime mortgage

Give me a call and we can discuss your specific situation.

Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650
Email: RHoffman@wccloans.com

Duration : 0:2:23

Technorati Tags: amount, Angeles, bank, Broker, Business, California, cash, City, conv, Conventional, Corp, Corporation, county, credit, Diego, direct, equity, FHA, finance, financial, Government, H.A.R.P., HARP, home, insurance, interest, la, lender, loan, Los, los angeles, low, ltv., moreno valley, mortgage, murrieta, no, off, orange, Own, pay, Payoff, Program, rate, refianance, Rent, Riverside, San, Temecula, terms, Underwater, VA, vs, Wholesale Capital

Ryan Hoffman
Loan officer
Wholesale Capital Corp
951-488-3114
RHoffman@wccloans.com

Duration : 0:2:49

Technorati Tags: amount, Angeles, bank, Broker, Business, California, capital, cash, City, conv, Conventional, Corp, Corporation, county, credit, Diego, direct, equity, FHA, finance, financial, Government, H.A.R.P., HARP, home, insurance, interest, la, lender, loan, Los, los angeles, low, ltv., moreno, mortgage, murrieta, no, obama, off, orange, pay, Payoff, Program, rate, refianance, Riverside, San, Temecula, terms, Underwater, VA, valley, wholesale

Duration : 0:2:30

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