May, 2009
Tuesday, May 26th, 2009
Treasury Secretary Timothy Geithner announced that the Obama administration is expanding its $75 billion Making Homes Affordable plan to include additional financial incentives to lenders willing to help homeowners unload their properties at a loss when they owe more than their homes are presently worth. Considering there is a huge ...
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Tuesday, May 26th, 2009
The most recent Federal Reserve releases (H.3 and H.4.1) indicate a reading of $2.16 trillion, a number that is growing quickly. The highest ever total, 2.17 trillion, was recorded last month. This is just the starting point though, as $1.75 trillion in securities will be monetized this year, of which ...
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Friday, May 15th, 2009
Right now there is a bank crisis. Surrounding a banking crisis is normally a 5 year dip in properties values. It's interesting to consider because this would meanthousing prices won't stop dropping for another 2 years, or the summer of 2011. In addition, stocks and bonds will also dip in ...
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Wednesday, May 13th, 2009
Predatory lending helped get us into the housing crises mess. A mess that includes a growing number of foreclosed homes and homeless, unemployed Americans. Now some of the same people responsible for the shady subprime lending practices are taking advantage of those looking to loan modifications.
Millions of Americans are looking ...
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Tuesday, May 12th, 2009
In order to help homeowners avoid foreclosure through Loan Modifications, the Obama administration recently added two more elements to its homeowner assistance program, offering to help more borrowers and encouraging investors to offload more of their riskiest morgages onto the taxpayers.
The original Making Home Affordable program that the Treasure Department ...
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Sunday, May 10th, 2009
An estimated 7-9 million homeowners are elegible for a mortgate modification. Also kn0wn as loan modifications, Obama's plan has set foot as Chase Bank modified 15,000 home loans last week.
Bank of America began reaching out to at-risk borrowers in early April and has sent out 100,000 letters to borrowers who ...
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