Tag Archives: york times reports

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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Help For Homeowners At Risk Of Foreclosure

Have you bought more home than you can afford? Are you at risk of foreclosure? Well, Uncle Sam may be willing to bail you out of your bad decisions, thus encouraging more people to make more such bad decisions. The … Continue reading

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Buying A Lawyer, Delaying Foreclosure

I’m reading this New York Times article about how many homeowners in default on their mortgages are hiring lawyers to fight the eviction/foreclosure process. This is slowing the foreclosure process in many states, delaying a housing recovery and weighing down … Continue reading

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Homeowners In Distress – Doesn’t Your Heart Bleed?

I fail to be heartbroken that millions of Americans bought more home than they could afford and that they are now struggling to stay in it. Why should I care about people’s bad financial decisions? Why is the decision to … Continue reading

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The Return Of Shadow Banking

As the politicians in Washington increasingly regulate banks, money market funds, private investment companies and hedge funds are profiting. They don’t have the same regulations as banks do. Banks are among the most tightly regulated businesses. Other businesses can invest … Continue reading

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The Return Of The Two Bedroom Apartment

People in New York are buying two-bedroom apartments again. After the housing crash of 2008, sales of one-bedroom apartments were the only things moving. Then three-bedroom apartments started moving. Now we’re seeing two-bedrooms selling for about a million dollars each. … Continue reading

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The MERS Corporation Claims To Hold Titles To Half Of America’s Mortgages

The New York Times Sunday profiles this fascinating corporation. MERS stands for Mortgage Electronic Registration Systems. Public mortgage documents used to logged in longhand down at the county records office. They provided a clear indication of homeownership. Now the system … Continue reading

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The Mortgage Securitization Market Is Dead

There’s no demand to buy stocks or bonds backed up by American mortgages. As long as the mortgage securitization market remains moribund, lenders won’t have money to lend for mortgages. Currently Fannie and Freddie back up 95% of new mortgage … Continue reading

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Slowing Down Foreclosures Will Only Slow Down Economy

I don’t know why so many people are happy that judges are giving banks a hard time over foreclosures because of inadequate paperwork. Slowing down the foreclosure process and making it more arduous will only slow down the housing market, … Continue reading

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