Former chief executive of Goldman Sachs Group Henry Paulson had a lot to say this week about the plans in place by Washington to help ease the crunch in the housing market. He claims that the plan will do nothing more than bail out for reckless lenders, investors and speculators. His concern is that these […]
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All it usually takes when facing foreclosure is to make a call to your mortgage lender and try to work something out with them. This first step, if taken correctly, will stall the action taken towards losing a home. Many people today, though, are choosing to simply walk away. It is a fact of life […]
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No one has screamed more about Big Brother than the banking industry. They feel that business belongs to them, and that the government should keep their noses out of banking business, and give them freer rein with financial innovations. It’s pretty obvious to me that you should be careful what you wish for.
Now, Bank of […]
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Today, we are looking at what we did during the Great Depression, with home owners owing much more than the property is worth. If you think the sub prime debacle is just a bubble, then guess again. I have never been much for “looking at the big picture” but the more I research this situation, […]
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Just when I think I am beginning to think that I am getting a handle on the mortgage market, I learn of something new that is considered a real bane to the industry. While researching today for the post, I came across an article on a type of ARM that I have never heard […]
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California, always aggressive when it comes to holding people accountable and to be forward thinking in what transpires there, has been working to pass bill pass HR 3609, which would give holders of sub prime mortgages the same opportunity to have the courts change bankruptcy laws to modify mortgages as given to owners of family […]
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I have been reading with interest Tanya Davis’ posts here on the blog, and begin to look more deeply into things as presented by both her and my research. In a news item today I read about a report that Fitch Ratings put out that gives evidence on what I have figured all along. […]
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Lots of advice is floating around for homeowners who are facing foreclosure. There are many: 2.2 million in 2007, according to RealtyTrac, a research company based in California.
Most civic leaders and lawmakers are trying to educate consumers with steps that a homeowner can do to retain their home, such as: Make their mortgage payments a […]
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Please read “Homeowners Stuck with Low-Value Properties,” my post from yesterday, if you haven’t already. One commonly held theory is this: if you are in danger of going into foreclosure, simply stop paying on part of your mortgage. Here is how this advice goes:
If you have two, three, or more loans against your home, figure […]
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The housing “bubble” of the past few years caused a flurry of lending that might not have happened, except property values were rising fast. Buyers felt good about it; after all, buying houses is what we do. And if they put 20% down, they figured property prices would have to drop by 20% immediately to […]
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