During Tuesday night’s CNN-Western Republican Leadership Conference Debate in Las Vegas, presidential candidate Rep. Michele Bachmann (R-Minn.) tried to appeal to the mothers of America, telling them, essentially, that she has their back when it comes to the ongoing national problem of high foreclosure rates.
Elizabeth Warren, the Treasury and White House adviser helping to set up the Consumer Financial Protection Bureau, made her first trip yesterday to meet with housing advocates, visiting Columbus, Ohio. The event was closed to the press, but the AP reports that Warren stressed the importance of regulating payday More…
Here is David Axelrod (PDF), speaking with CBS’s Bob Shieffer this weekend:
BOB SHIEFFER: Just when we thought it couldn’t get any worse now we find that this sloppy paperwork by the lenders may have made some of these foreclosures now that are being contemplated invalid. Some of the
The Home Affordable Modification Program, HAMP, continues to sputter, converting 26.7 percent fewer trial modifications into permanent modifications in September than in August.
The foreclosure crisis is far from over. Rather, as this chart from Daniel Indiviglio at The Atlantic shows, it is in some ways just peaking. Last month, banks foreclosed on more homes than ever before. More than a million families are predicted to lose their homes this year.
At FireDogLake, David Dayen has done great work to show how the Home Affordable Modification Program — the Obama’s signature effort to keep financially distressed homeowners in their homes — has not just failed, but has actually hurt the people it is meant to help.
Today, the Treasury Department revealed yet another scorecard for the Home Affordable Modification Program — the administration’s signature effort to stop the foreclosure crisis — showing dreary results. Here’s a good chart from Daniel Indiviglio at The Atlantic:
Given that it is housing day in Washington, with a major conference on the future of housing finance at Treasury, it is worth taking a look at ProPublica’s latest report on the Home Affordable Modification Program, the Obama administration’s signature effort to help families remain in their homes by More…
Washington is initiating a program to help the unemployed stay in their homes: Qualified applicants will get zero-interest loans of up to $50,000 for two years to pay their mortgages while they remain jobless. But The Hill questions whether it might be banks benefiting from the More…
Last week, Fannie Mae announced it lost $1.2 billion in the second quarter and asked the Treasury Department for an additional $1.5 billion to see it through.
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