Tag Archives: 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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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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Lawsuits Over Mortgage Modifications

Unable to pay their mortgages, millions of Americans are trying to renegotiate their deals with banks. Some of these Americans claim that banks are not being sufficiently cooperative. They apparently have no compunction or embarrassment about failing to fulfill the … Continue reading

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What Is A Mortgage Servicer?

Well, here is what they do — collect monthly payments, deal with delinquent homeowners and negotiate loan modifications. The politicians and bureaucrats are taking a lot of time to investigate how mortgage servicers do business, in particular, how they go … Continue reading

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Foreclosure Procedures

This is the most written about and analyzed mortgage-related news story of the past month. Several big banks suspended their foreclosure operations to investigate how they were doing things. Federal bank regulators are taking a close look as well at … Continue reading

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Those Nasty Closing Cost Surprises

The federal Department of Housing and Urban Development (HUD) is instituting new laws to make closing costs more obvious to home buyers. A lot of lenders and mortgage brokers try to slip in junk fees to make a quick buck … Continue reading

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Federal Housing Administration Smash By Mortgage Crisis

The FHA’s cash reserves have fallen — for the first time ever — below the minimal levels set by Congress. About 25% of home loans in the US are guaranteed by the FHA. These reserves are to enable the FHA … Continue reading

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