Tag Archives: new york times

A 2003 Mortgage Warning

In 2003, Nye Lavalle compiled a list of improprieties by Fannie Mae. He warned about a mortgage disaster ahead. Nobody in power listened to him. When I read about the fraudulent fees and fines given to his mortgage, it makes … Continue reading

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Will Low Interest Rates Boost Demand For Housing?

So far, all indications are that consumers will continue to shun debt. Over the past three years, American consumers have steadily reduced their debt. When people fear for their jobs, or don’t have jobs, or enough employment, they’re unlikely to … Continue reading

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Yisroel Pensack: Proposition 13’s Devastating Impact on Housing Affordability in California

A 21st-century follower of 19th-century political economist Henry George, whose classic “Progress and Poverty” was written in San Francisco and published there in 1879, has analyzed the effect of California’s property-tax-cutting Proposition 13 and found that that 1978 measure has … 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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What’s A Robo-Signer?

And where can I get one? Oh, I guess I don’t want one. I don’t want to be foreclosed on. The New York Times has an amusing article on words of the year: robo-signer and put-back: Even for people who … Continue reading

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Obama’s Mortgage Modification Scheme Ineffective

The Treasury Department’s Home Affordable Modification Program pays banks to modify loans under Treasury guidelines. From day one, it has been criticized as ineffective. This past week, it came in for another bruising. A panel report called it a failure. … Continue reading

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The Best Refinance Blogs

I recommend these: * Refi Advisor: I find the pop-up annoying. Useful tools. Blog posts. Videos. Personal help available. * WordPress blog posts relating to refinancing. Quality varies dramatically. Could be fun! Not often you can say that about a … Continue reading

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The Return Of Credit Card Offers

After three years of dramatically reining in their offers of credit cards, banks and other lenders are back in the game, says a big article in the New York Times this past weekend. Lenders are more careful than ever. They … Continue reading

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Capital Offense: How Washington’s Wise Men Turned America’s Future Over to Wall Street

This is the new book from Michael Hirsh. An extensive excerpt was published in the New York Times. In the book, the men tend to be the villains and the women tend to be heroines. Michael Hirsh blames deregulation for … Continue reading

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Bailing Out The Irresponsible

The Treasury has a plan to help out those who are late on their mortgage payments. But what about those who are on time with their mortgage payments? Why should those people who bought more home than they could afford … Continue reading

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