Tag Archives: foreclosure rates

Bank of America Launches ‘Mortgage to Lease’

Imogen Reed writes: The Bank of America has announced a pilot scheme which will allow homeowners in danger of foreclosure to stay in their homes as tenants, with their outstanding loans written off by the bank. The scheme is initially … Continue reading

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Freddie Mac Asks For More Government Help

So far taxpayers have paid out about $170 billion to subsidize Fannie Mae and Freddie Mac. That works out to about $1300 per American. Taxpayers are on the hook for at least another $100 billion in aid over the next … Continue reading

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What Is REO?

I keep seeing that term used in real estate news. Here’s a news report noting that high foreclosure rates have not driven down home prices as much as would normally be expected: Three out of four regions saw increasing levels … Continue reading

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The Great American Bank Robbery: The Unauthorized Report About What Really Caused the Great Recession

Paul Sperry published the book The Great American Bank Robbery: The Unauthorized Report About What Really Caused the Great Recession. Paul Sperry was on Dennis Prager’s radio show today. Dennis: A liberal says Wall Street deregulated and irresponsibly packaged irresponsible … Continue reading

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Las Vegas Ranked As Fifth Worst Economy In The World

A few years ago, friend were boasting to me about buying condos in Las Vegas. Now it seems that two-thirds of homes in Las Vegas are underwater (owners owe more than their property is worth). There’s no recovery in sight, … Continue reading

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Alabama Thrift Stops Mortgage Lending

It got stung by its losses and realized it could no longer manage the mortgage lending disaster. The AP reports: The second-largest thrift in Alabama is suspending mortgage lending amid hefty third-quarter losses as real-estate values moved lower and foreclosure … Continue reading

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The U.S. Treasury Examining New Ways To Intervene In The Housing Market

Government intervention got us into this mess but apparently many think government intervention will get us out of it. Most experts have yet to see evidence of strong economic growth ahead, which is the only solution to depressed housing prices. … Continue reading

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Foreclosures At Record Highs

From the New York Times: In a move that provides relief to thousands of renters who face eviction but draws the federal government even deeper into the housing market, the loan giant Fannie Mae said Sunday that it would sign … Continue reading

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Who Will Win And Who Will Lose With Mortgage Modification Plans

ST. LOUIS, Nov 04, 2008 /PRNewswire via COMTEX/ — If the U.S. experience during the Great Depression offers any guidance, imposing a temporary ban on foreclosures in response to the current financial turmoil could create unintended costs, based on an … Continue reading

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Why We Can’t Just Snap Out Of The Mortgage Mess

Alan Zibel writes about the dramatic decline in housing prices. Why did this happen? Because real estate speculation caused millions of homeowners to think of their home as an ATM machine. When the value of their home plummeted, they lost … Continue reading

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