{"id":14383,"date":"2010-10-24T22:13:19","date_gmt":"2010-10-25T02:13:19","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14383"},"modified":"2010-10-24T22:13:19","modified_gmt":"2010-10-25T02:13:19","slug":"forex-exchange-exclusive-complex-foreclosures-and-the-usd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/24\/forex-exchange-exclusive-complex-foreclosures-and-the-usd\/","title":{"rendered":"Forex Exchange Exclusive: Complex Foreclosures and The USD"},"content":{"rendered":"

By James McKee<\/strong><\/p>\n

One of the main causes of the current financial fiasco in the United States is admittedly the housing market bubble burst. Many banks are experiencing drastic losses as homeowners are being heard regarding their belief that banks have issued them mortgages without due analysis, and due process with regard to the fairness and legal nature of the loans being issued. Quite often banks are allowed to simply reclaim property that a loan holder is unable to pay for but currently a new breed of attorney has stepped up, the foreclosure defense attorney.<\/p>\n

This specific breed of attorney is new to the legal arena and has only recently been made necessary due to the large number of foreclosures currently occurring in the United States. The fact that banks had to borrow over half a trillion dollars from the government to stay afloat demonstrates the danger to the USD that this prolonged mortgage “battle royal” represents in terms of further financial problems. Banks are actually having rulings made against them and have been ordered to pay damages to mortgage holders whose mortgage was signed by a “robo-signer”. Such a trend certainly spells out ever-increasing and volatile trouble for the banks since this means that more homeowners will be resisting foreclosure on legal grounds, and given that the number of robo-signed contracts is vast the fallout from this series of events is very grave indeed.<\/p>\n

While the DJIA recovered from its losses yesterday one has to wonder when the big crash is coming, given what banks stand to lose from these faulty contracts another big bailout may be necessary to again protect banks from losses regarding mortgages. Consumer confidence in banks and the financial system at large in the United States is at an all-time low, and given this is just the beginning of this latest fiasco the dollar’s slide seems imminent. I would avoid pairing the dollar with majors that experiencing their own detrimental complications, make sure to avoid the Yen or the Euro and stick to the CAD and\/or AUD.<\/p>\n

Any change is a good change in the Forex exchange if you are able to anticipate it and invest accordingly. Continue to watch the USD carefully and wait for either a dip in the DJIA or an announcement regarding the current developments in mortgage market, either of these will certainly be a precursor to a drop in USD value. Keep your eyes peeled, and happy trading!<\/p>\n

About the Author<\/h3>\n

Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates<\/a><\/strong> regularly.<\/p>\n","protected":false},"excerpt":{"rendered":"

By James McKee One of the main causes of the current financial fiasco in the United States is admittedly the housing market bubble burst. Many banks are experiencing drastic losses as homeowners are being heard regarding their belief that banks have issued them mortgages without due analysis, and due process with regard to the fairness … <\/p>\n

Continue reading “Forex Exchange Exclusive: Complex Foreclosures and The USD”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14383","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=14383"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14383\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}