Tag Archives: mortgage foreclosure

What Will Be The Cost To Taxpayers Of The Mortgage Settlement?

The late Nobel prize winner Milton Friedman summed up economics by saying, “There’s no free lunch.” So the Obama administration and state attorney generals extracted $26 billion from the five big banks to settle disputes over improper mortgage foreclosure paperwork … Continue reading

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Increase In Troubled Mortgages

The Dow Jones is near record highs and mortgage interest rates are holding at record lows, yet the percentage of troubled mortgages and the number of foreclosures are both rising. We’ve yet to see any sustainable bump upwards for housing … Continue reading

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Are You A Victim Of Wrongful Mortgage Foreclosure?

I’m unaware of anybody who was making his mortgage payments every month as scheduled who was wrongfully foreclosed on by a lender. All the whiners are people who applied for a mortgage modification but stopped making their scheduled mortgage payments. … Continue reading

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Are Bankers Against Full, Clear Disclosure On Mortgage Forms?

I’m a free market guy. I’m a capitalist. I am against many forms of government regulation. I’m against the minimum wage. I do, however, have sympathy for the proposed new mortgage forms. They will spell out clearly and briefly the … Continue reading

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The Mortgage Foreclosure Talks With Banks

Overwhelmed by forclosures, banks were imperfect in their processing of thousands of foreclosures. I don’t know why this is such a big deal when I don’t know of anyone who made his payments on time and got evicted. That would … Continue reading

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Senators Talk Tough On Mortgage Foreclosure Talks

There’s little downside for senators talking tough about the banks. Who doesn’t want to beat up on the banks? Bank stocks are in the toilet. Banks may need another bailout. But hey, there’s political capital to be made here blaming … Continue reading

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How To Cope With A Foreclosure

A mortgage foreclosure is not the end of your life. You can pick up the pieces and go on with your life. Your credit should return to normal in seven years. You might’ve bought more home than you can afford … Continue reading

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The More The Government Intervenes, The Worse The Housing Market Gets

The housing boom and bust was caused by government policies such as local land-use policies which reduced developable land, policies to lower standards for mortgage lending, forcing lenders to lend to risky borrowers who happened to be poor and/or minorities, … Continue reading

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Healing Troubled U.S. Housing Sector

Many politicians and regulators want to punish lenders for faulty foreclosure practices, but this will only retard the rebound of the housing market. So let the healing begin! Report: (Reuters) – U.S. consumer financial protection chief Elizabeth Warren said on … Continue reading

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What’s A Robo-Signer?

And where can I get one? Oh, I guess I don’t want one. I don’t want to be foreclosed on. The New York Times has an amusing article on words of the year: robo-signer and put-back: Even for people who … Continue reading

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