Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-63971 Sat, 26 May 2018 17:04:17 GMT ForSaleByOwner.com Bought By Quicken Loans Owner http://implode-explode.com/viewnews/2018-05-26_ForSaleByOwnercomBoughtByQuickenLoansOwner.html iehi-feed-63970 Fri, 25 May 2018 21:13:50 GMT Renters Become Majority in More than 20 Major US cities http://implode-explode.com/viewnews/2018-05-25_RentersBecomeMajorityinMorethan20MajorUScities.html iehi-feed-63967 Wed, 23 May 2018 13:13:40 GMT Broward County Judicial Candidate Leonore Greller Pens Nutso Rant http://implode-explode.com/viewnews/2018-05-23_BrowardCountyJudicialCandidateLeonoreGrellerPensNutsoRant.html iehi-feed-63966 Wed, 23 May 2018 00:00:26 GMT House passes bank bill rolling back Dodd Frank rules; Goes to Trump for Signing http://implode-explode.com/viewnews/2018-05-22_HousepassesbankbillrollingbackDoddFrankrulesGoestoTrumpforSignin.html iehi-feed-63964 Tue, 22 May 2018 17:47:32 GMT Foreclosures Are Skyrocketing In These 12 Markets http://implode-explode.com/viewnews/2018-05-22_ForeclosuresAreSkyrocketingInThese12Markets.html iehi-feed-63962 Mon, 21 May 2018 18:28:53 GMT Mortgage Lenders Want To Bombard You With More Robocall Solicitations http://implode-explode.com/viewnews/2018-05-21_MortgageLendersWantToBombardYouWithMoreRobocallSolicitations.html iehi-feed-63956 Sat, 19 May 2018 15:00:00 GMT Michigan Foreclosure Solutions You Need To Save Your Home http://implode-explode.com/viewnews/2018-05-19_MichiganForeclosureSolutionsYouNeedToSaveYourHome.html iehi-feed-63947 Wed, 16 May 2018 14:10:06 GMT Are Michigan Bankruptcy Lawyers Are Lying To You About Foreclosures? http://implode-explode.com/viewnews/2018-05-16_AreMichiganBankruptcyLawyersAreLyingToYouAboutForeclosures.html iehi-feed-63944 Mon, 14 May 2018 15:20:19 GMT Housing Discrimination A Major Problem For Adult Film Stars http://implode-explode.com/viewnews/2018-05-14_HousingDiscriminationAMajorProblemForAdultFilmStars.html iehi-feed-63942 Sun, 13 May 2018 16:34:45 GMT Elegant 23-room stone mansion in Flint hits the market for just $222,000 http://implode-explode.com/viewnews/2018-05-13_Elegant23roomstonemansioninFlinthitsthemarketforjust222000.html The Burroughs Mansion was built in 1926 on the bank of Gilkey Creek and is being sold at the price it would cost a buyer to purchase a one-bedroom apartment in Manhattan. The cheapest apartment in the city is currently being sold for $225,000.

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In 1989, the home was restored by more than 20 Flint interior designers, with each picking 1-2 rooms to decorate and furnish.

But now, the Burroughs mansion needs major renovation that will likely cost the next owner $150,000 to fully restore the mansion.

One of the basement rooms is flooded and there is a lot of mold on the walls and ceiling.

The home was foreclosed five years go and has been unoccupied since. It is currently owned by JP Morgan Chase Bank.

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One of the basement rooms is flooded and there is a lot of mold on the walls and ceiling. Several photos show the ceiling peeling (pictured) in a few of the rooms

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iehi-feed-63939 Sat, 12 May 2018 18:11:29 GMT Michigan Attorney General Has $40 Million Stashed In Offshore Tax Haven http://implode-explode.com/viewnews/2018-05-12_MichiganAttorneyGeneralHas40MillionStashedInOffshoreTaxHaven.html iehi-feed-63937 Thu, 10 May 2018 13:46:20 GMT ICE Agent Admits Scamming Suntrust And Freddie Mac http://implode-explode.com/viewnews/2018-05-10_ICEAgentAdmitsScammingSuntrustAndFreddieMac.html iehi-feed-63933 Wed, 09 May 2018 19:27:18 GMT Equifax Data Breach Worse Than The Company Previously Reported http://implode-explode.com/viewnews/2018-05-09_EquifaxDataBreachWorseThanTheCompanyPreviouslyReported.html iehi-feed-63931 Wed, 09 May 2018 12:45:54 GMT Clandestine Wells Fargo Shell Game Exposed And Taxpayers Are Paying For It http://implode-explode.com/viewnews/2018-05-09_ClandestineWellsFargoShellGameExposedAndTaxpayersArePayingForIt.html iehi-feed-63925 Sun, 06 May 2018 14:48:28 GMT The Rocco Mediate Mansion Finally Going to Auction http://implode-explode.com/viewnews/2018-05-06_TheRoccoMediateMansionFinallyGoingtoAuction.html iehi-feed-63923 Sat, 05 May 2018 13:55:55 GMT Wells Fargo Bank Account Scandal Costs Wells Fargo Another $480 Million http://implode-explode.com/viewnews/2018-05-05_WellsFargoBankAccountScandalCostsWellsFargoAnother480Million.html iehi-feed-63922 Fri, 04 May 2018 23:54:21 GMT GE Warns It Might Put Subprime Lending Unit Into Bankruptcy http://implode-explode.com/viewnews/2018-05-04_GEWarnsItMightPutSubprimeLendingUnitIntoBankruptcy.html General Electric Co. warned it might put its dormant subprime mortgage business, long-plagued by legal trouble, into bankruptcy protection. A bankruptcy filing could be a way for the lender, WMC Mortgage, to deal with potential courtroom losses and other future liabilities, the company said late Tuesday in a filing with the Securities and Exchange Commission.

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GE recently set aside a $1.5 billion reserve related to a Justice Department investigation into the WMC Mortgage business, which stopped nearly all new loan originations in 2007.

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It is unclear how much exposure GE could shed by putting WMC Mortgage into bankruptcy. The process could accelerate settlements that GE agrees to fund. At a minimum, the filing would temporarily stop litigation against the unit as it looks to cap its exposure.

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In the SEC filing, GE officials said they are having trouble estimating the exact loss the company could face from the Justice Department investigation and several lawsuits involving the subprime business. In February, GE disclosed that government officials are likely to claim the business violated federal lending laws in 2006 and 2007.

One case against WMC Mortgage involving $800 million in loans went to trial earlier this year in federal court in New Haven, Conn... The total claims GE faces tied to the mortgage-related lawsuits is $3.4 billion, according to regulatory filings. The company already had set aside a reserve for the lawsuits, standing at $342 million at the end of March, but said in Tuesday's filing it could face as much as $500 million in additional losses.

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iehi-feed-63921 Fri, 04 May 2018 13:55:10 GMT PHH Raises White Flag In The Fight With The CFPB http://implode-explode.com/viewnews/2018-05-04_PHHRaisesWhiteFlagInTheFightWithTheCFPB.html iehi-feed-63914 Wed, 02 May 2018 15:11:15 GMT The Next HECM Power Training Session is May 17th | Mandelman Matters http://implode-explode.com/viewnews/2018-05-02_TheNextHECMPowerTrainingSessionisMay17thMandelmanMatters.html iehi-feed-63913 Wed, 02 May 2018 00:07:43 GMT Thieving Michigan Priest Stole $5.4 million http://implode-explode.com/viewnews/2018-05-01_ThievingMichiganPriestStole54million.html