Tag Archives: obama

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

Posted in Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on Obama’s Foreclosure Legacy

The Obama Administration’s War On Banks Now Focuses On JP Morgan

Obama’s administration has criticized JP Morgan “for failing to effectively assist struggling homeowners>” Why should banks assist struggling homeowners? Why should banks not be free to pursue their own self-interest aka maximum profit? I pursue my own self-interest every day … Continue reading

Posted in Banks, mortgage, Politics | Tagged , , , , , | Comments Off on The Obama Administration’s War On Banks Now Focuses On JP Morgan

Despite Government Intervention, American Property Values Keep Declining

President Obama came into office pledging to do big things to turn around the housing market. He unveiled plans. His HAMP program promised homeowners current on their payments a way to have their principal written down by the banks. Despite … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Despite Government Intervention, American Property Values Keep Declining

Obama’s Failures With Housing

President Obama entered office claiming he’d help nine million Americans facing foreclosure. The actual number helped by his various plans is well under one million. The housing industry remains in bad shape, perhaps worse than when Obama entered office. The … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Obama’s Failures With Housing

The Massive Overhang Of Mortgage Debt

Most economists are Democrats. Most academics in the social sciences are Democrats. Thus, the Washington Post says that economists gave Obama’s Thursday night jobs speech high marks. The president’s proposal was a conventional stimulus package, a smaller version of his … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on The Massive Overhang Of Mortgage Debt

Don’t Expect Much From Obama’s Latest Mortgage Proposals

The private market is prepared to refinance mortgages if homeowners own substantial equity in their homes and have good credit. So why is the Obama administration coming up with new plans for a federal-government refinancing? Because many homes are not … Continue reading

Posted in Banks, Foreclosure, mortgage, Politics, Refinance | Tagged , , , , , | Comments Off on Don’t Expect Much From Obama’s Latest Mortgage Proposals

Feeling Betrayed By Fannie Mae

Here’s one of the constant problems with government run businesses — they have many conflicting aims. For the ordinary business, it has one primary aim — to make profits. For government run businesses, they have conflicting aims such as profits, … Continue reading

Posted in Banks, fannie mae, Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on Feeling Betrayed By Fannie Mae

Changing The Debate On Mortgage Finance

In 2010, Congress passed and President Obama signed a massive financial regulation bill called Dodd-Frank. As with the healthcare bill, almost all of those who voted yes had not read the bill. Nobody knew what it would do because important … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Changing The Debate On Mortgage Finance

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

Posted in Banks, mortgage | Tagged , , , , | Comments Off on Can You Be Forced Into Modifying Your Mortgage?

How About Some Concrete Goals For Feds Plan To Reduce Foreclosures?

Millions of homeowners have been foreclosed on for lack of mortgage payments. Millions of more homeowners are underwater on their loans. There is no prospect for an uptick in home prices for at least three years. A congressional watchdog is … Continue reading

Posted in Foreclosure, Politics | Tagged , , , , , , | Comments Off on How About Some Concrete Goals For Feds Plan To Reduce Foreclosures?