Tag Archives: wall street journal

Bank of America Launches ‘Mortgage to Lease’

Imogen Reed writes: The Bank of America has announced a pilot scheme which will allow homeowners in danger of foreclosure to stay in their homes as tenants, with their outstanding loans written off by the bank. The scheme is initially … Continue reading

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Banks Reluctant To Lend For Mortgages

I don’t blame banks for being reluctant to lend for mortgages. Banks are a rare business. They can’t invest as they wish. They have to get permission from bureaucrats, politicians and radical groups. They have to — mandated by government … Continue reading

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Stalling Housing Recovery By Demanding Billions From Banks

This Wall Street Journal editorial nails it. Aren’t you tired of crony government? Government by thugs? The Obama administration hands out exemptions from Obamacare and it oversees special bailout deals that are sweet to its union allies but vicious to … Continue reading

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Basic Economics 4th Ed: A Common Sense Guide to the Economy by Thomas Sowell

Stanford economist Thomas Sowell was on Dennis Prager’s radio show today. Dennis: “What role did Wall Street play in producing the current recession?” Sowell: “They played the role of suckers who bought mortgages who weren’t worth what they paid for … Continue reading

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Reduced Consumers Choices For Mortgages

After taking huge losses in mortgage lending, various banks are getting out of the game. Bank of the America is the latest bank to reduce operations. It doesn’t seem like anyone wants to lend money anymore unless it is to … Continue reading

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Why Are We Throwing Good Money After Bad?

We now know that the cash-for-clunkers program cost the U.S. taxpayer about $24,000 for every new car bought. Does that sound like a good deal to you? I’m not sure how much the new home purchase tax credit is costing … Continue reading

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Commercial Real Estate Is A Ticking Time Bomb

The Wall Street Journal says commercial banks hold over one trillion dollars in commercial real estate mortgages. These holdings are dramatically losing value. Property values are declining and credit is scarce. Commercial property has followed residential property into the mortgage … Continue reading

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How’s Obama’s HARP Playing?

The Wall Street Journal reports on the Home Affordable Refinance Program, or HARP. It is supposed to help homeowners with little equity in their homes. It’s another political plan to gum up the free market and make it less efficient. … Continue reading

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Mortgages For Delinquent Borrowers

From the Wall Street Journal: The Chicago Tribune today takes an interesting look today at how HSBC is handling mortgage modifications for delinquent borrowers. Modifications and restructurings, or a permanent redo of the mortgage contract, now represent represent 22% of … Continue reading

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The Consequences Of Easy Money

From the Wall Street Journal: "As interest rates in the United States fell relative to those abroad, the dollar declined, which could have boosted the prices of commodities commonly priced in dollars by reducing their cost in terms of other … Continue reading

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