Tag Archives: department of housing and urban development

HUD’s Billion-Dollar Giveaway To Struggling Homeowners

Why are we taking taxpayer money from folks who’ve been financially responsible and subsidizing those who have bought more home than they can afford? Why is our debt-strapped federal government giving away more people? When you subsidize something, you get … Continue reading

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How To Set Up A Reverse Mortgage

Frustrated with dealing with HUD (the federal department of Housing and Urban Development), Bank of America and Wells Fargo are getting out of the reverse mortgage market. Still, there are plenty of options left for people who want a reverse … Continue reading

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HUD Ain’t Gonna Change Its Reverse Mortgage Program

Regulation by the federal department of Housing and Urban Development (HUD) has meant that banking giants Bank of America and Wells Fargo have left the reverse mortgage market. Wells Fargo did it with a dig at HUD, saying it couldn’t … Continue reading

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Watch Out For Mortgage Modification Scams

With an unprecedented percentage of home owners late on their mortgage payments, millions of Americans are vulnerable to mortgage modification scams. People will come along offering to negotiate for you with your lender to get you more favorable terms for … Continue reading

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Do You Want One Government Agency To Blame For The Housing Crash?

Well, how about HUD (Department of Housing and Urban Development)? They oversee Fannie Mae and Freddie Mac. HUD allowed Fannie and Freddie to get into the subprime lending game. As for its own books, they seem pretty stable. HUD took … Continue reading

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27 Pages Of Demands Placed Before Mortgage Servicers

Over the past few months, state and federal investigators have been looking into the way major lenders foreclose on properties. Now the question is whether politicians and regulators are more interested in punishing lenders or healing the housing industry. We’ve … Continue reading

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AARP Sues HUD Over Reverse Mortgages

Over the past four years, there have been many calls for increased regulation of reverse mortgages. Such calls are based on the premise that many old people are too stupid and senile to figure out what is in their self-interest. … Continue reading

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Racial Bias In Lending?

Great. We have another one of those phony racial bias in lending probes. Why would banks object to receiving monthly mortgage payments from blacks or browns or yellows or reds or pinks or homos or Jews or Chinese? They would … Continue reading

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Government Forcing Banks To Lend

We got into this housing crisis, in part, because government regulation and political pressure forced banks to lend money to people with low chances of paying it back. If banks didn’t make these loans, they were picketed and their expansion … Continue reading

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Wall Street Finds Profits Again, Now by Reducing Mortgages

The New York Times reports: …Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value. Then, in what might seem … Continue reading

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