Tag Archives: huffington post

Obama’s Foreclosure Legacy

The Obama administration keeps doing things about the housing crisis but none of them seem to work. The Obama approach is to selectively intervene in the housing market and channel subsidies to politically protected groups. Some homeowners who are underwater … Continue reading

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Can You Be Forced Into Modifying Your Mortgage?

Well, one California homeowner was forced to modify his mortgage. He didn’t want this. It’s a tale of bureaucracy and government meddling gone awry. The Huffington Post reports: Getting a mortgage modification from the Obama administration’s anti-foreclosure program can be … Continue reading

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I’m Having Second Thoughts About The Consumer Financial Protection Bureau (CFPB)

When I first heard about The Consumer Financial Protection Bureau (CFPB), I thought it would be more unnecessary regulation. That it would do more harm than good and would restrict consumer choice. Leftism tends towards totalitarianism. Leftists want to legislate … Continue reading

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Major Mortgage Lenders May Be Forced To Reduce Mortgage Principal

What this will do to lenders desire to lend in the future is apparently of little concern to the Obama administration. I would not want to lend out money with Obama’s gang ready to step in and arbitrarily rewrite contracts. … Continue reading

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Did Big Banks Cut Corners On Foreclosure Paperwork?

For all the massive mainstream media coverage of this story, I’ve yet to see evidence that a large number of people who made their mortgage payments on time were kicked out of their homes. For all the evidence I’ve seen, … Continue reading

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So What If We Lose The Fixed-Rate 30 Year Mortgage?

Life doesn’t always go the way I want either. Oy, I often feel like I am spending most of my spare time chasing my tail. Yesterday, I spent two hours trying to fix a clunky key on this new keyboard … Continue reading

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A Way Forward For The Mortgage Market

Nobody wants to buy mortgage-backed securities unless the government is guaranteeing them. This essentially means the market for mortgage-backed securities is dead. About 90% of new mortgages are underwritten by the Fannie Mae, Freddie Mac GSEs, which have required $140 … Continue reading

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Huffington Post: 2,500 Homeowners Put In Foreclosure While Awaiting Mortgage Modifications: Attorneys

Well, big surprise. You’ve filed for a mortgage modification but you’ve stopped making your mortgage payments. Now you are surprised your bank is still foreclosing on you? Life does not end just because you’ve filed for a mortgage modification. Would … Continue reading

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Democrats Challenge GOP On Mortgage Crisis

Peter Dreier writes for the Huffington Post: On Thursday, the House voted 266-154 in favor of a bill, sponsored by Representative Barney Frank (D-MA), chair of the House Financial Services Committee, that would help homeowners at risk of foreclosure. Democrats … Continue reading

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