Aug22
Check out this story of how “America’s Bank” is forcing this one elderly couple out of their home.
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Posts Tagged ‘mortgage’
13 results.
Aug07
Just another rerun.
No down payment loans are back, baby!
Oct06
Crooks who take advantage of desperate people and desperate people who do not take the time to read.
(propublica.org) “Real estate professionals and mortgage brokers are the driving force behind the boom. Indeed, some of the same brokers who stoked the housing boom are now making their living off homeowners stuck in the sort of [...]
Sep01
While doing some research for another post, I came across this great find this morning.
The Color of Money
It is the entire 1989 Pulitzer Prize investigative series on how banks in Atlanta were called out by the Black community for “redlining” and how community activists, Black preachers, residents, local media, etc. pressured these banks to issue [...]
Aug19
The American government is into offshore drilling again—in Brazil!
YOU are committing $2 billion towards it.
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Let’s Hope China Forecloses On U.S. (Forbes)
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Another “‘bad’ treatment of animals is equal to slavery/holocaust” comparison. Courtesy of Nia Long. “When I became a mother, I started to really understand the importance of all living creatures in a way that [...]
Jul14
…and you get to play any member of the Evans family.
In an apparent massive land grab move described as “help” from the government, Obama is “mulling” over a plan that could make homeowners who are behind in mortgage payments, renters.
NEW YORK, July 14 (Reuters) – U.S. government officials are weighing a plan that would let [...]
May13
From Bloomberg (4/24/09):
Known as the “HomeSaver Advance” plan, Fannie used the program to provide “foreclosure prevention assistance to distressed borrowers,” according to its 2008 securities filing.
The plan entailed Fannie funding loans to help distressed borrowers get current on their mortgage payments. Fannie said there were about 71,000 advances made in 2008 with an average value [...]
From huliq.com
Since this whole mess began, evidence has shown up time and time again that large scale mortgage mods don’t work particularly well. Operation Hope for Homeowners has helped 700 homeowners since its October inception, instead of the advertised 400,000, and the re-default rate on mortgage modifications is pretty discouraging. According to the OCC, for [...]
Apr06
From CNN
Nearly 23,000 homes in Riverside County alone are listed as “bank owned” on RealtyTrac. One in 80 homes is now in the foreclosure process, according to the county assessor’s office.
“Riverside County is in the middle of the mortgage meltdown,” says county assessor Larry Ward. “It’s really tough on people, the foreclosures and prices that [...]
Apr03
Fannie, Freddie Set to Pay $210 Million in Retention Bonuses
wsj.com
In a compensation program that has drawn angry protests from politicians, Fannie Mae and Freddie Mac expect to pay about $210 million in retention bonuses to 7,600 employees over 18 months, according to a letter from the mortgage companies’ regulator to Sen. Charles Grassley.
The maximum retention [...]
Feb23
I have been hearing about this same trend right here in my own county. So there is no doubt this is also happening on a national scale.
publiusforum.com
But, does it work? Maggie Thurber of Thurber’s Thoughts did a little poking around at the office of the Comptroller of the Currency, Administrator of National Banks department of [...]
Feb18
Some quick thoughts.
Perhaps there some magic out there I just have not seen. Unless there is a mandate in this bill to lower the principal amount, I just do not see how simply lowering the interest rate (unless it goes down to something like 2-4 percent) is going to have a major impact.
Obama unveils $75B [...]
Dec15
Put The Victim Card Down. It’s Way Past Old
by Duane on December 15th, 2008 at 10:19 pmPosted In: Commentary, Economy
Wayne Dawkins for blackpower.com writes:
Howard University economist William E. Spriggs broke this down to two dozen African-American newspaper columnists last month. Spriggs summarized “Subprime as a black catastrophe,” by Melvin L. Oliver and Thomas M. Shapiro that was published as a special report of The American Prospect magazine.
American borrowers of color have collectively lost an [...]
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