The Congressional Oversight Panel has come out in the open to describe President Obama’s foreclosure mitigation programs to ease foreclosures achieved “too little, too late”. The “Top COP” – Elizabeth Warren has mentioned this, after a year and half of the launching of the program HAMP – “Treasury is still fighting to get its foreclosure [...]
The Home Affordable Modification Program (HAMP) has come under fire recently for what observers call its "total failure" to attain its goals. Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair begs to differ though. She has gone as far as to call the program the "most ambitious mortgage modification effort ever undertaken". In the face [...]
The crisis in the housing market made its debut with foreclosures in residential units – primarily with those who had sub-prime mortgages. These mortgages were granted without checking on the financial capability of the loan taker and thus when the interest spiraled they began to default. It was a cascade of foreclosures like nine pins [...]
US President Barack Obama won a thundering and first standing ovation in the Senate, while making his address on the State of the Union. His remark “it’s time we impose a fee on those biggest banks, which were saved by the bailout of the government” was welcomed with cheers. President Obama made his first address [...]
There are signs of recovery in the economy but trends show that demographics together with consumer activities have become the force behind new housing activities. Consequently the emerging residential market is totally different from the one that was there previous to the recession. During the Midwinter Meeting of the Urban Land Institute the issues that [...]
Responding to heavy pressure from Washington the loan servicers are now expediting the process of permanent loan modification. By the end of last December the number had increased to 66,465 – it being 7.4% of all the trial modifications. In November the number had been 31,382. Another lot of 46,056 are waiting the final inking [...]
Neel Kashkari, the architect of TARP, the $700 billion foreclosure relief program, disclosed the backstage drama behind the measure. Kashkari was a favorite choice of the previous Treasury Secretary Henry Paulson, for making a blueprint of TARP. Kashkari narrated how one of his peers began screaming over the exploding situation – the impending collapse of [...]
Daily Mail The Daily Outrage: Bailed-out bank boosting some salaries by as … The San Francisco Examiner, California WHAT: Bailed-out Citigroup is increasing base salaries of thousands of managers by as much as 50 percent. WHY IT’S HAPPENING: In a contemptuously transparent scheme to bypass new federal restrictions on executive bonuses for taxpayer-aided companies, … [...]
WASHINGTON – President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America’s troubled financial institutions, proposing the most ambitious revision since the Great Depression. Continue Tags: Bail+Out, Banks
Foreclosures rise with unemployment | Geithner says more time is … – Examiner.com Examiner.com Foreclosures rise with unemployment | Geithner says more time is … Examiner.com Foreclosures and job losses continue to dominate headlines nationwide. During the first quarter of 2009, the percentage of borrowers behind on their mortgage, or in foreclosure, doubled from a [...]
A company of integrity is what I thought of Eureka. I was repaid for the roof repair as soon as I faxed the receipt. Everyone was happy. My clients got their new home that was a dream and a blessing for them. Thanks again.
WILDA RODRIGUEZ
Nations Realty
