Tag Archives: mortgage payments

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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Mortgage Relief Plan Close

The Attorney Generals of New York and California are expected to sign on to a major deal between state and federal government representatives and the biggest lenders. In exchange for paying out about $25 billion, the banks will settle claims … Continue reading

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Mortgage Delinquencies Rise Again

For a year this number was improving but in the second quarter of 2011, the percentage of mortgage delinquencies rose. This will likely lead to an increase in foreclosures and put more downward pressure on home prices. As home prices … Continue reading

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Mortgage Modifications Don’t Work

You thought when Obama’s HAMP (Home Affordable Modification Program) came out that it would save eight million foreclosures? Think again. Many observers thought banks would jump at the opportunity to score some free government money to modify mortgages but the … Continue reading

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Mortgage Bonds Selling Again

Mortgage-backed securities have been in a severe slump since 2007. Few people have wanted to buy them. Why should you when home prices keep falling steadily year after year? Where’s the security in buying such mortgages? Who’s going to keep … Continue reading

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Who Is The Mortgage Skipper?

Many people make a strategic decision to default on their home loan. Why? Because it is in their self-interest. Big businesses default on various loans all the time when it is in their self-interest. The lower the down payment on … Continue reading

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What Are The Consequences Of Defaulting On Your Mortgage?

Well, it will be a long time before you’ll be able to get another mortgage. Your credit score will take a significant hit for seven years. And other than that, you’re good to lead your life wiser and poorer. Here’s … Continue reading

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Banks Hold Almost A Million Foreclosures

The New York Times today features a long article on banks holding about 872,000 foreclosed properties. Banks are in the process of foreclosing on another million homes and analysts expect banks to foreclose on several million homes in the next … Continue reading

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Home Owners In Foreclosure

A USA Today report says that homeowners in foreclosure have not made mortgage payments — on average — for 17 months. That was one of the top stories I saw in my free newspaper at the Costa Mesa Hilton this … Continue reading

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Lenders Getting Smarter About Foreclosures

They’re not employing people to knock on the doors of people who are late on their mortgage payments. Many people have stopped making mortgage payments, hoping their bank will modify their loan, or, failing that, they’ll take advantage of some … Continue reading

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