Andrew Sullivan takes a shot at the Obama administration’s plan to help homeowners, noting that he’s diligently paid three mortgages and now is expected to bail out people who gave in to “greed, wishful thinking, and recklessness.” His comments follow on the heels of the now-famous Rick Santelli More…
The administration’s rescue plan for housing is taking shape. But as Calculated Risk notes, one thing it apparently won’t include is a proposal – once under serious consideration – to pay mortgage companies to lower interest rates.
Instead, as we discussed Thursday, Obama officials are looking at ways More…
The stakes are high for the next roll-out of a new financial plan by Treasury Secretary Timothy Geithner and the Obama Administration. In the midst of a House Financial Services Committee hearing Wednesday to question top banking executives on their use of money from the Troubled Assets Relief Program, the More…
Just as the Obama administration prepares its plan to salvage the financial system and help homeowners facing foreclosure, the debate over whether loan modifications actually work is heating up again.
This is a policy argument in which only one thing is certain: no one involved has any idea what More…
Elana Schor at Talking Points Memo has a great inauguration interview with Rep. Barney Frank (D-Mass.). She asked him about TWI’s story last week revealing that homeowners have to sign away their rights to sue lenders, if they want to get a loan modification under Fannie and Freddie’s More…
Instead of a national foreclosure moratorium – an idea that has the support of President-elect Barack Obama – homeowners in trouble should just accept foreclosures and move on, lending industry insiders say. Their comments come from Housing Wire, which cited an industry survey quoting lenders as saying a More…
The plan for Fannie Mae and Freddie Mac to streamline mortgage modifications for troubled homeowners has already come in for some harsh criticism. Federal Deposit Insurance Corp. chairwoman Sheila Bair, in particular, has been outspoken in her opposition.
That’s important, because Bair is the leading proponent of massive More…
rss