Tag Archives: orange county register

Are U.S. Mortgages Doomed Without Government Backing?

I don’t think so, so long as the federal government does not try to unilaterally redraw contracts so that lenders have to write off mortgage principal on the homes of millions of Americans who are underwater on their mortgages. It … Continue reading

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Foreclosures Hit Record Highs In Orange County

We were waiting for the flood and now it is here. Banks are bringing thousands of foreclosed homes on to the open market, depressing prices. Meanwhile, the Federal Housing Administration is running out of money but delaying an audit. How … Continue reading

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Who Was Responsible For The Subprime Meltdown?

This Orange County Register article — like many from this paper — gets behind the headlines and beneath the rhetoric of ideologues to examine the facts: Did a 31-year-old law giving poor people a break at the bank accidentally break … Continue reading

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Refinance Trouble? Think About An FHA Loan

The Orange County Register reports that the FHA is taking up the slack for subprime lending. It’s a lot of effort to get an FHA home loan (which protects lenders from loss so they are more willing to make loans … Continue reading

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