Wednesday 4th December
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Bringing Up the Rear: Treasury Secretary Tim “Transparency” Geithner and his Band of Banking Sadists
Written on 27 Sep, 2010 at 5:49
But Treasury officials told the bloggers that they knew all along that it wouldn't work, that homeowners would be foreclosed on left and right, but, they explained, that was okay with them. In fact, it was a good thing.... (Continue reading)
AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear.
Written on 30 Aug, 2010 at 10:34
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)
The Federal Reserve Made a Record $47.4 Billion HELPING Housing Market in 2009?
Written on 27 Jul, 2010 at 20:05
The Federal Reserve, by the way, doesn't exist to make a profit like the commercial banks. Until 2009, the Fed paid no interest on the bank reserves and other monies it holds, and it earns interest on the Treasury... (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)
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)
At the Bank of America Signpost Up Ahead, Your Next Stop – The Loan Modification Zone
Written on 9 Jun, 2010 at 10:10
A homeowner wrote to me the other day, and I could tell from her emails that she had been through the ringer trying to get a loan modification. I've heard from so many thousands of homeowners that I've gotten... (Continue reading)
FHA-HAMP Helped 171 Homeowners Nationwide in April
Written on 22 May, 2010 at 18:31
The HUD Neighborhood Watch Website shows 171 FHA-HAMP modifications for the month of April 2010. What? Did they have to win a drawing?... (Continue reading)
The FTC Needs a More Reasoned Approach to Stop Loan Mod Scams
Written on 10 May, 2010 at 11:19
Yes, I've walked through this steaming pile of freshness so many times and in so many ways, that I've come to consider the idea that there's something in the water that's causing otherwise intelligent people to lose their capacity for... (Continue reading)
SO, HAMP ISN’T GREAT. WE KNOW. WHAT ARE YOU GOING TO DO ABOUT IT?
Written on 4 May, 2010 at 3:01
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time... "Congress better take note! We intend to use our VOTE!" Yep, after that the foreclosure crisis would... (Continue reading)
My Year in A-Trance: What I’ve Learned About Loan Modifications
Written on 4 May, 2010 at 1:50
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time... "Congress better take note! We intend to use our VOTE!" Yep, after that the foreclosure crisis would... (Continue reading)
HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid
Written on 10 Apr, 2010 at 20:43
They did it again, damn it. The Harvard contingent that's packed in like sardines in this administration once again demonstrated that they have no idea what they're doing when it comes to the foreclosure crisis.... (Continue reading)
Obama Administration to Announce Expansion of HAMP – Principal Reductions and Help for Unemployed
Written on 25 Mar, 2010 at 20:33
On Friday, the White House is expected to announce an expansion of the president's Making Home Affordable loan modification program to include reducing the mortgage loan balances for some homeowners, and providing additional temporary assistance to unemployed homeowners. ... (Continue reading)
After One Year, Obama Plan to Help Modify Second Mortgages Modifies NONE… Nada, Ziperino!
Written on 25 Mar, 2010 at 6:17
The plan was announced last April. Treasury released guidelines in August. And five weeks ago, Bank of America, with three million seconds, signed up. Five weeks ago. Stop it... they've been busy.... (Continue reading)
Treasury Buys More Time for HAMP Modifications… I’m Not Surprised
Written on 24 Dec, 2009 at 16:51
In other words, unless you applied for a loan modification related to an apartment building or something like that, you can't be cancelled before the end of January.... (Continue reading)
Suits Filed Against Sleazy Servicers – Treasury Knew
Written on 6 Aug, 2009 at 2:34
Another servicer, Ocwen, is apparently in line to receive more than $500 million from the Treasury, but is defending a federal class-action suit for harassing homeowners, charging illegal fees, and adding unnecessary insurance premiums to borrowers' bills. The complaint... (Continue reading)
Giving Money Back, Not Profitable: Federal Reserve Study Proves
Written on 12 Apr, 2009 at 12:03
The Federal Reserve Bank of Boston released the results of its in-depth study on President Obama's plan to solve the foreclosure crisis, and the conclusions shocked politicians and bureaucrats alike from coast to coast. ... (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)