Tag Archives: financial incentives

President Obama Extends HAMP For A Year

About one-fifth as many homeowners got help from HAMP as was expected so the Obama administration is extending the program for a year. All these attempts to interfere with the free market only delay the recovery of the housing market. … Continue reading

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Mortgage Relief Plans Offer False Hope

In most cases, they only delay the inevitable. And why should banks rewrite contracts? Doesn’t anyone believe in the sanctity of contracts anymore? If you bought more home than you could afford, why should those who were responsible with their … Continue reading

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The False Promise Of Mortgage Relief

Since the subprime mortgage crisis hit in 2007, politicians have been promising to do something about it. And they have. They’ve produced numerous programs to help people who are having a hard time paying off their mortgages. But the promises … Continue reading

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Obama’s Home Affordable Modification Program (HAMP) Struggles To Refine Its Goals

HAMP has helped about 700,00 homeowners so far. I wonder how many it has hurt? If we subsidize poor decisions, won’t we get more of them? I don’t see why I should subsidize people who bought more mortgage than they … Continue reading

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Why Is The Mortgage Default Rate So Low?

About 11 million American households are underwater on their mortgage. So why don’t more Americans walk away? That’s the theme of about a dozen articles in the New York Times over the past month. There’s been a lot of rhetoric … Continue reading

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Looking To The Government For Help With Real Estate Prices

Joe Nocera writes: Now that the government has “saved” Wall Street — at least for the moment — hasn’t the time finally come to save Main Street too? I’ve seen estimates suggesting as many as one out of every six … Continue reading

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The Top Five Financial Incentives To Attract A Buyer

Jim Remley writes the book "Sell Your Home In Any Market": 1. Pay the points. Points are fees charged by lenders for providing financing. In general, 1 point equals 1 percentage of the mortgage balance. For instance, a buyer paying … Continue reading

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Britain’s Mortgage Rules Changing

From the BBC: Mortgage lenders are to change the way newly-built properties are valued to prevent possible mortgage fraud. The Council of Mortgage Lenders (CML) says new rules will help stop mortgages being granted that were worth more than the … Continue reading

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Seven CA Mortgage Companies Close In Mortgage Investigation

The AP reports that some borrowers complained they never signed the mortgage documents that destroyed their lives. Seven brokerage and escrow companies are now closed. In August 2007, investigator Eric Bremner found evidence in a shredder at Olympic Escrow that … Continue reading

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