Tag Archives: countrywide home loans

Foreclosing On Military On Active Duty

The Justice Department has secured a settlement with a couple of lenders who foreclosed on active duty military personnel. People on active duty in the U.S. military get various forms of protection. You need to secure a court order before … Continue reading

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Mortgage Putbacks

Reselling mortgages allows banks more money to lend. If they held on to a 30-year mortgage, they’d have to wait about 30 years before they could lend that money again. So selling mortgages makes the mortgage market more liquid. But … Continue reading

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‘The Foreclosure of America: The Inside Story of the Rise and Fall of Countrywide Home Loans, the Mortgage Crisis, and the Default of the American Dream’

I heard this author — Adam Michaelson — on the Dennis Prager show a few weeks ago. His book gives the human angle on Countrywide and the mortgage meltdown. Adam writes that he wants to dispel myths; that Countrywide and … Continue reading

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Who Was Responsible For The Subprime Meltdown?

This Orange County Register article — like many from this paper — gets behind the headlines and beneath the rhetoric of ideologues to examine the facts: Did a 31-year-old law giving poor people a break at the bank accidentally break … Continue reading

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The View From Denver On The Rescue Bill

From the Denver Post: Lenders foreclosed on 22,500 Colorado homes during the first six months The $700 billion bailout plan that failed in the House on Monday called for the federal government to “encourage the servicers of the underlying mortgages” … Continue reading

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Mortgage Relief Plan

From DailyComet.com: HOUMA – Want to snag a mortgage with a low interest rate and get help with the down payment? A new program offered through a public-private entity in Terrebonne Parish could help. The Houma-Terrebonne Public Trust Financing Authority … Continue reading

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Remembering The Easy Money Days

From Newsweek in October 1998: NOT SINCE LBJ was in the Oval Office and ""Bonanza” ruled prime time have mortgage interest rates been so low for so long. Average rates on 15- and 30-year fixed home mortgages are 6.5 and … Continue reading

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Ed McMahon Caught Up In The Housing Crisis

BEIJING, June 5 (Xinhuanet) — Ed McMahon, Johnny Carson’s longtime sidekick on "The Tonight Show," is in jeopardy of losing his multimillion-dollar Beverly Hills estate, according to media reports Thursday.     McMahon defaulted on 4.8 million U.S. dollars in mortgage loans with … Continue reading

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It’s Getting Tougher To Borrow Money

The Boston Globe reports that even borrowers with great credit scores are having a tough time getting the loans they want. Lenders are increasingly cautious and conservative. They want higher down payments and higher credit scores. An applicant has to … Continue reading

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