Tag Archives: debt forgiveness

CA’s AG Seeks An End To Mortgage Foreclosures In That State

California’s attorney general seems to believe we can just legislate unpleasant economic realities such as mortgage foreclosures. She wants Fannie Mae and Freddie Mac to stop foreclosing in California. Fannie and Freddie have required a $160 billion in taxpayer funds … Continue reading

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What To Do About Fannie Mae, Freddie Mac

Republicans and Democrats are squabbling about what to do with Fannie and Freddie. Republicans want to wind them down quicker. Democrats want a big government role in the mortgage market. Fannie and Freddie don’t want to write down loan principal … Continue reading

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Banks Quietly Easing Terms On Dangerous Loans

Bank of America and Chase got many risky loans when they purchased troubled banks in 2008. Chase bought Washington Mutual. Bank of America bought Countrywide. Chase inherited 22,000 option ARM loans. Bank of America got 550,000 such loans. On these … Continue reading

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A Government Offer To Help You Pay Your Mortgage

From the Chicago Sun Times: The prospect of mortgage debt forgiveness will entice hundreds of thousands of homeowners into picking up the phone to play the home-preservation game of ”Let’s Make a Deal,” beginning this fall. The federal government’s Hope … Continue reading

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Is It Time To Refinance?

From OCRegister.com: Q. My husband and I have an adjustable-rate loan on our home and the principal balance goes up about $1,000 each month. We are paying $1,636 (per month) in interest. How far in advance of our payment ballooning … Continue reading

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One Man’s Misery Is Another Man’s Opportunity

HOUSTON, TX, Jul 28, 2008 (MARKET WIRE via COMTEX) — As the cost to protect Washington Mutual Inc. bonds from default rises for a third time following concerns that the biggest U.S. savings and loan won’t be able to overcome … Continue reading

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