August, 2010

AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear.

AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear.

It made me sad to know what Treasury Department officials had said about the foreclosure crisis and HAMP… very, very sad. In fact, I can’t think of another time in history when my government acted as these guys have... (Continue reading)

Care to Guess How Many NEW Homes Sold Over $750,000 in June and July?

Care to Guess How Many NEW Homes Sold Over $750,000 in June and July?

The biggest question I have about the real estate market is… why are we all pretending that there’s a real estate market at all. There’s no real estate market in this country, hasn’t been one since July 10, 2007,... (Continue reading)

Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach

Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach

Potential Game-Changer Alert... District Court Judge Says Homeowner is the Intended Third Party Beneficiary to the contract between Fannie and servicers... and that means the right to sue yours.... (Continue reading)

It’s a Matter of Principal – HAMP’s New PRA

It’s a Matter of Principal - HAMP’s New PRA

And NPV 4.0 is what drives the PRA, which is a “deferred principal reduction program” that allows the homeowner to earn a principal reduction over a three-year timeframe by making all payments in accordance with the loan’s modified terms. According... (Continue reading)

Bringing Up the Rear: Me, Martin Andelman

Bringing Up the Rear: Me, Martin Andelman

It’s a credit crisis, a global financial crisis, a foreclosure crisis, an economic catastrophe, the total destruction of the secondary mortgage market, the end of pension plan investing and Wall Street’s investment banks, and an ongoing example of why derivatives... (Continue reading)

GM, GMAC & the US Government… Have You No Shame?

GM, GMAC & the US Government... Have You No Shame?

The workers at the NUMMI plant were quite familiar with GMAC, because the mortgage lender was the only mortgage lender given access to the plant employees to sell them on refinancing their homes. "Put your cars, your credit cards... everything... (Continue reading)

Tagged with:                                                                                                                                                 

Page Rank