Posted on February 18th, 2009 by Pamela Leavey
Moving right along, on the bailout/stimulus efforts from the Obama administration, President Obama unveiled a $75 billion plan today geared to help millions of “homeowners refinance their mortgages or avert foreclosure.” The initiative Obama said ”would shore up distressed housing prices, stabilize neighborhoods and slow a downward spiral that he said was ‘unraveling homeownership, the middle class, and [...]
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Filed under: In The News
Posted on February 18th, 2009 by Stuart O'Neill
Dateline Phoenix (UK.Reuters):
“Today, as a result of declining home values, millions of families are “underwater,” which means they owe more on their mortgages than their homes are worth. These families are unable to sell their homes, and unable to refinance them. So in the event of a job loss or another emergency, their options are [...]
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Filed under: In The News
Posted on September 22nd, 2008 by Pamela Leavey
McCain aide Rick Davis wasn’t too happy today about being called out by the NY Times, on his ties to Fannie & Freddie and particularly the role he “played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the [...]
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Filed under: Bush Admin, Conservatives, Corporatism, Credit Crisis, Economy, Election '08, Foreclosures, Housing, In The News, John McCain '08, N.Y. Times, Pamela Leavey, Political News, Presidential Election, Republicans, Wall Street
Posted on September 15th, 2008 by Pamela Leavey
The sky is falling… The sky is falling… I spent a few blissful days out at the beach this past weekend ignoring the news. I came home and got back online was greeted by the grim news of the latest shake up on Wall Street.
Lehman Brothers is filing for bankruptcy protection, Bank of America is [...]
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Filed under: Consumers, Corporatism, Credit Crisis, Democrats, Economic News, Economy, Election '08, In The News, John McCain '08, Pamela Leavey, Political News, Politics, Presidential Election, Republicans, Small Business, Wall Street
Posted on September 7th, 2008 by Darrell Prows
On my personal ranking of the news events of the past 100 years, the top three stories are (1) Hiroshima/Nagasaki; (2) The tearing down of the Berlin Wall; and (3) The current forcing of Fannie Mae and Freddie Mac into federal conservatorship.
The conventional wisdom, of course, is that Fannie and Freddie are “too big to [...]
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Filed under: Bush Admin, China, Consumers, Credit Crisis, Darrell Prows, Economic News, Economy, Foreclosures, George W. Bush, Housing, In The News, Japan, Opinions, Political News, Politics, Republicans, Saudi, Wall Street
Posted on August 8th, 2008 by Darrell Prows
Are covered bonds the next fiasco?
“The U.S. Treasury Department is continuing to consider ways to resuscitate weak homebuying activity, Treasury Secretary Henry Paulson said Tuesday, highlighting the potential of covered bonds as a “promising” solution.”
“Covered bonds are securities created from either mortgage loans or public sector loans and make up one of the oldest and [...]
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Filed under: Bush Admin, Corporatism, Credit Crisis, Darrell Prows, Economic News, Economy, Housing
Posted on June 20th, 2008 by Stuart O'Neill
The proposed program would allow FHA to help troubled borrowers reduce their interest rates if the actual lenders went along with a cut in the principal amount of the loan.
This is in the lenders best interest because in a majority of circumstances the fair market value of the home no longer offers security for the [...]
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Filed under: Bush Admin, Economic News, Election '08, George W. Bush, House of Reps, In The News, John McCain '08, Political News, Senate, Stuart O'Neill, WaPo
