Tag Archives: economic decisions

16 Million Americans Underwater On Their Mortgages

Sixteen million Americans owe more on their homes than their homes are worth. They are often locked into mortgages that carry interest rates well above 6%. They would love to refinance into lower monthly payments but the private sector is … Continue reading

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The New Obama Plan To Refinance Mortgages

President Obama Thursday night announced a plan to expand access to mortgage refinance. Why would government intervention be needed here? Because the private sector has no incentive to refinance mortgages on homes that have negative equity. So we get more … Continue reading

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Mortgage Lending Hits Lowest Level Since 1997

Mortgage lending is expected to decline further in 2012. And as for home prices? They are currently at 2003 levels. There are many factors that account for the decline in mortgage lending. First, people without jobs can’t generally buy homes. … Continue reading

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Politicians Concerned Not Enough Struggling Homeowners Are Taking The Government Bailout

Politicians have enacted all sorts of schemes to turn around the housing market. That’s ironic, because when home prices were booming, politicians left of center proposed all sorts of schemes to increase “affordable housing.” Now that home prices have dramatically … Continue reading

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