Hat tip to daytrip for sending this along: http://www.vice.com/read/this-former-bank-regulator-quit-his-job-to-fight-for-his-house-518 Eric Mains is fulfilling a dream many Americans have had since the onset of the financial crisis seven years ago: He's attacking...
More foreclosure-avoidance incentives were announced this week: http://www.mortgagenewsdaily.com/12052014_hamp_mfa_programs.asp An excerpt: "While the housing sector has strengthened in recent years, there are still many homeowners struggling to make their mortgage...
The looming real estate crisis in China, from 60 Minutes:
From David D. at FDL: Analysts have tried to parcel out whether QE3 will really help the economy. The way almost everyone looks at this is about the impact on housing, specifically mortgage prices. But mortgage rates haven’t changed at all since the announcement of...
Hat tip to HW for publishing this story, but I'm not sure that they or Barclays grasp the full meaning - that banks are deliberately letting defaulters live for free.....for years. Loans serviced by Bank of America tend to remain in the 90-plus-delinquency state for...
In January, 2009 the Fed didn't hold any mortgage-backed securities. Today they have $843 billion, and yesterday they "agreed to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee...
From dsnews.com: House lawmakers overcame election-year gridlock on Tuesday to punt their version of a bill that would shore up the Federal Housing Administration, whose embattled Mutual Mortgage Insurance Fund falls short of the capital required by law. The lower...
From desmoinesregister.com: Financial help is moving to embattled homeowners under the $25 billion national mortgage settlement that resulted from abusive foreclosure practices by some of the nation’s largest banks. Mortgage servicers spent $10.6 billion on principal...
From NMN: The Senate Finance Committee approved a bipartisan bill before summer recess that would extend the Mortgage Forgiveness Debt Relief Act through 2013. The debt relief law spares homeowners who receive principal reductions on their mortgages from being hit...
Hopefully this will signal the winding down of the government's bailout attempts - maybe just another year or two of flailing? From HW: Mortgage servicers started just 16,321 three-month Home Affordable Modification Program trials in June, the fewest since the...
