Monday, July 30, 2007

AHM Halted, No Word From Company

NEW YORK (AP) -- Concerns about the future of American Home Mortgage Investment Corp. increased Monday after the real estate investment trust told the New York Stock Exchange it had news that would affect its stock, but did not issue a statement....

The NYSE halted trading in American Home Mortgage shares all day Monday pending an announcement...

The Melville, N.Y., lender raised concerns about its ability to stay in business on Friday when it said it would not pay a promised 70 cent dividend because it may need the money to fund operations...

I ain't going to lie to you. THIS NEWS SUCKS. American Home mortgage controls 2% of the mortgage market. IN OTHER WORDS 1 OUT of 50 FOR NO REASON WHAT SO EVER, EVEN IF THEY ARE CURRENT ON THEIR MORTGAGE WILL BE UNDER PRESSURE.

American Home Mortgage wants people out of their houses. Force them to sell and you force them to pay up the balance. Get enough people to sell aand then your cash reserves are high enough to get back into business.

Every 4 years the average American moves. Each year we continue with the housing slow down equates to more time people spend in their homes. Turn over keeps the money flowing.

p.s. NEVER BUY A MORTGAGE FROM SOMEONE THAT SUSPENDED THE STOCK DIVIDEND. They did not cut the dividend. They did not trim over time. They wacked a $.70 per share dividend after it was promised - AFTER THE EX-DIVIDEND DATE. This is serious.

click on the heading for the entore article

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