Monthly Archives: October 2011

Obama Lets Underwater Home Owners Refinance Their Mortgages

(Bloomberg) — U.S. regulators will let qualified homeowners refinance mortgages regardless of how much their houses have dropped in value, expanding a government effort to chip away at one of the economy’s most unyielding problems. Luke says: Qualified homeowners? What … Continue reading

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Refinancing Your Mortgage Without Revealing Your Financial Situation

Most of the reason for the housing crash was 20 years of lowered mortgage lending standards legislated by the government. Things got to the point where people were able to get mortgages without showing their income. They got “liar loans” … Continue reading

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US Mortgage Bonds Hit Six Months Low

President Obama’s plan to allow millions of underwater homeowners to refinance their mortgages will have a mixed effect on the mortgage market in particular and the economy in general. It’s not even clear if this move will stimulate the economy. … Continue reading

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Obama’s Failures With Housing

President Obama entered office claiming he’d help nine million Americans facing foreclosure. The actual number helped by his various plans is well under one million. The housing industry remains in bad shape, perhaps worse than when Obama entered office. The … Continue reading

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Banking – The Most Regulated Industry In America

The possible exception to this declaration is the nuclear industry writes Peter Schweizer in his 2009 book Architects of Ruin: How big government liberals wrecked the global economy—and how they will do it again if no one stops them. The … Continue reading

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California’s Foreclosures Soared In Third Quarter

The big banks revved up their foreclosures in the third quarter and the rate went up particularly high in California. Banks have been dragging their heels on foreclosures for more than a year. They don’t want to bring too many … Continue reading

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New Plan Likely To Allow For Refinancing Of Underwater Mortgages

A major settlement between the Obama administration and the state attorney generals over shoddy foreclosure practices by the big banks is likely to allow tens of thousands of people with underwater mortgages to refinance. Without this special break, people who … Continue reading

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The Occupy Wall Street Crowd

Dennis Prager writes: “So when I see the mostly young people of Occupy Wall Street — a mixture of the bored, the nihilistic, the seekers of excitement, the left-wing true believers, the confused idealists and those hoping to engage in … Continue reading

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Mortgage Interest Rates Are Expected To Stay Low For At Least A Year

That’s good news for me because I am carrying $45,000 in credit card debt. If those interest rates went up, I’d be sunk. I can barely get by as things stand. Home prices are expected to stay steady or to … Continue reading

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Those Low Mortgage Interest Rates Look So Good!

Tempting! Nice if you can get them. Are they a fake? No, they’re real, but they only for the top tier, those with sterling credit and solid proof of income. Lenders are keeping mortgage interest rates higher than would be … Continue reading

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