Tag Archives: new york university

Obama’s Efforts To Modify Mortgages A Failure

Far fewer people than predicted have taken advantage of the Obama administration’s HAMP (Home Affordable Modification Program). About one-eighth as many homeowners have been helped as was predicted. A lifelong Democrat who oversaw the bailout of the banks says Obama … Continue reading

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Bank of America Stability Threatened By Rising Foreclosures

The foreclosure rate has taken a dramatic tick upwards. This puts downward pressure on home prices which in turn causes more foreclosures. Flooded by foreclosed properties, which cost banks on average more than $40,000 each, banks have taken their time … Continue reading

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We’re Headed For Another Housing Disaster

If mortgage interest rates keep rising, mortgage defaults will rise along with them. If unemployment stays near 10%, not many people will be able to take on mortgages, putting more downward pressure on home prices. Or have home prices bottomed … Continue reading

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