Wednesday 4th December
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I SAY GIVE HIM TWO ““ Ernie Banks Awarded Presidential Medal of Freedom
Written on 21 Nov, 2013 at 7:34
Today, Ernie Banks was at the White House being awarded the Presidential Medal of Freedom by President Barack Obama. It is the highest civilian honor that this country bestows, and this year was the 50th anniversary of the award,... (Continue reading)
A Walk Down Memory Lane With President Obama & the Mortgage Crisis
Written on 12 Jul, 2011 at 18:00
As a result, homeowners who begin the process of obtaining a loan modification with expectations largely set by the President, are likely to be disappointed at the outcome, regardless the outcome. ... (Continue reading)
FOR THE FATHERS
Written on 19 Jun, 2011 at 5:48
But, it's hard for me to be happy without thinking about the hundreds of thousands or perhaps millions of fathers who while they smile through their day, are also worrying about what will happen tomorrow because they know that, despite... (Continue reading)
Obama’s Speech Avoids Using the “N” Word…
Written on 18 Jul, 2010 at 17:24
I realize that his speech the other night was intended to be more State-of-the-Union-like than a presentation of specific solutions, but I still came away feeling a bit like a Christian Scientist with appendicitis. America's banks are, in large part, insolvent.... (Continue reading)
House Hearings to Answer Question: Are Loan Servicers Honoring Their Commitments to Help Preserve Homeownership?
Written on 6 Jul, 2010 at 11:06
Everything's going just fine. There are no real problems with HAMP or with the servicers who are implementing HAMP. Oh sure, there have been a few challenges, but most of them have been caused by the borrowers who... (Continue reading)
Wall Street to Securitize Delinquent Loans. Because it went so well last time, I suppose.
Written on 25 May, 2010 at 8:31
So, based on that... the only logical thing to do is securitize some non-performing loans. Of course, it's brilliant! I'm calling AIG-FP later today to see if they'll sell me a credit default swap against this crap. ... (Continue reading)
Federal Reserve Issues Directive: Regulation B’s Adverse Action Notice Applies to Loan Mod Denials
Written on 16 Dec, 2009 at 4:10
Assuming you're an attorney or a homeowner who has lost a home and didn't receive a letter from your slender or serrvicer explaining why you were declined for a loan modification, within thirty days of being declined, I believe the... (Continue reading)
Why Banks Are Better at Making Loans Than Modifying Them
Written on 26 Nov, 2009 at 4:51
I thanked my new present value oriented friend and hung up. Next I would need to find a homeowner whose loan had been modified directly by the bank as a result of their request. This wasn't easy. Lots of refinancing,... (Continue reading)
CNN.com Reports Receiving “Overwhelming Number” of Negative Reviews of Obama Housing Plan
Written on 29 Jul, 2009 at 13:10
Servicers charging loan modification fees? See, I had thought President Obama said that no one should ever have to pay for a loan modification. No? No kidding... I was almost positive that's what he said. ... (Continue reading)
AIG BONUSES: Someone Get a Rope… The Angry Mob is Already Here.
Written on 19 Apr, 2009 at 10:15
I cannot even believe what’s going on in our country today. I am so totally pissed off at greedy, obnoxious, mega-rich corporate executive fat cats that I can’t see straight. Apparently, and I am not making any of this up,... (Continue reading)
The Letter I Sent to Senator Feinstein Today…
Written on 3 Apr, 2009 at 16:50
What follows is the text of a letter I sent to Senator Feinstein today. The situation is grave and worsening as related to private sector loan modification companies. Soon they will all be gone if something isn't done... (Continue reading)
Adding Insult to Injury – Homeowners Told to Walk Away From Loan Modifications
Written on 30 Mar, 2009 at 22:52
President Obama and the US Treasury have told the country "If you have to pay, walk away". So, in other words, now that the private sector has finally risen up to help solve a problem the government has failed... (Continue reading)
The Foreclosure Crisis: Private Sector Solutions vs. Government Cheese
Written on 30 Mar, 2009 at 1:49
Our nation is facing a home foreclosure crisis. Four million Americans have already lost homes to foreclosure, and forecasts show another 3.6 million foreclosures through 2010. Who knows what will happen beyond that, the numbers could go even higher. Housing... (Continue reading)