Wednesday 4th December
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Why Foreclosures Won’t Be Stopping Anytime Soon
Written on 12 Mar, 2016 at 19:02
The reason foreclosures won't stop is that life events won't stop happening, and we're no longer able to borrow our way out of trouble.... (Continue reading)
Nationstar: A Multi-billion Dollar Settlement over Foreclosure Practices Waiting to Happen
Written on 8 Feb, 2016 at 16:19
Just when I was sure that no servicer could be worse than Wells Fargo or HSBC... here comes Nationstar, a servicer seemingly dedicated to reaching new lows.... (Continue reading)
Why Did Obama Wait Until December 2015 to Extend Mortgage Debt Forgiveness Act?
Written on 5 Feb, 2016 at 17:21
I wonder how many people chose foreclosure last year because the Act had not been extended... only to find out now that Obama made the extension retroactive.... (Continue reading)
Mortgage Forgiveness Debt Relief Act Extended Again… and Again… and Again
Written on 2 Feb, 2016 at 7:02
President Obama extended the Mortgage Forgiveness Debt Relief Act through December 31, 2016. The extension is retroactive and covers mortgage debt cancelled in 2015. ... (Continue reading)
What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue
Written on 15 Jun, 2015 at 14:43
HAMP is guaranteed to do no more than it has done to-date, and that new defaults and re-defaults will continue to perpetuate the crisis, causing millions more Americans to lose homes unnecessarily.... (Continue reading)
Demand for Mortgages Plummets, But It’s Not a Winter Storm, It’s More of an Ice Age
Written on 7 Mar, 2014 at 12:16
Do the math and it's easy to conclude that the number of homeowners unable or unwilling to move is high. If 30 percent are actually underwater, after adding sales commissions, moving expenses, and the need for a 20 percent... (Continue reading)
Why Can’t We FIX Something About the Loan Modification Process?
Written on 16 Jan, 2014 at 7:28
I've seen my government fail at lots of things over the years, but this failure is too important and too costly to allow it to continue. We've lost more than five million homes to-date... and recent forecasts show we're... (Continue reading)
Fannie, Freddie and FHA Finally Increase Homeowners’ Ability to Modify Mortgages
Written on 18 Jul, 2013 at 9:24
Ladies and Gentlemen... finally... ... after five years of sheer torture... introducing a "No-Doc" loan mod. The FHFA says modified interest rates will be FIXED... terms will extend to 40 years... and some borrowers won't be required to pay... (Continue reading)
Obama’s New Plan to Help Housing Isn’t Worth Waiting For
Written on 22 Oct, 2011 at 8:17
Even Edward J. DeMarco, acting director of the independent Federal Housing Finance Agency says his fix will be more of a tune-up than an overhaul, with reduced "frictions" and "enhancements."... (Continue reading)
CA’s Democrats in Congress Wake Up to Need to Address Foreclosures
Written on 16 Oct, 2011 at 22:39
Apparently, this past week, the sound of the economy's ship going down must have awoken the majority of House Democrats from California who then just jumped all over the Obama Administration for "failing to deliver on promises to curb foreclosures."... (Continue reading)
Elizabeth Warren on the Foreclosure Crisis
Written on 19 Jul, 2010 at 8:58
Elizabeth Warren: "It's about respect. I believe that the American people ought to be part of the conversation about what's happening in our economy, and what's happening in Washington D.C. and what's happening on Wall Street. I truly... (Continue reading)