As foreclosures continue at a record pace, homeowners in trouble have watched the government devise a $700-billion rescue plan for Wall Street, buy shares in nine major banks and extend credit to insurance companies like AIG. What they haven’t seen is much of anything coming their way.
Now the Treasury More…
With the mortgage crisis dragging on and no quick fix in sight, lots of new ideas to help people stay in their homes are floating around. Maybe one upside to the lack of action on stopping foreclosures is an opening for some innovation — for ways to break through the More…
For the first time in more than a year, the nation’s decimated housing market is showing a spark of life. But like everything else that’s been turned upside down by the credit crunch, it’s not clear whether foreclosed homes selling at fire-sale prices are an encouraging sign — or just More…
Voluntary mortgage-reduction programs are insufficient to curb the spreading blight of national foreclosures, the head of the FDIC said Thursday, and the federal government should step in to help folks keep their homes.
The Bush administration and the finance industry have long resisted proposals forcing lenders to modify the terms More…
At Economist’s View, Mark Thoma brings up a subject no one seems to want to talk about anymore – helping people with modest incomes buy homes.
In the housing crisis, poor people — of all the likely suspects — are playing the role of scapegoats. Conservatives support the idea More…
As Congress mulls how to buoy a sinking economy, lawmakers seem increasingly determined to rein in the unregulated derivatives industry, which many suspect has caused much of the mess.
During two congressional panels convened this week, key lawmakers have vowed to push new regulations for the derivatives market, with a More…
With all the news about partially nationalizing banks, and with the candidates rolling out new economic proposals and facing off in a debate tonight over their prescriptions for the credit crunch, it’s easy to forget that the whole mess still comes down to simple things: A homeowner, and More…
For people facing foreclosure — and for the housing and community development groups trying to help them — there’s been little to cheer about lately.
The $700-billion bailout bill approved last week offers little or nothing to homeowners in trouble. A measure to change federal law to allow bankruptcy judges More…
Mortgage Insider tallies up the carnage among subprime lenders since the foreclosure crisis began — and it’s grim:
The list of major subprime lenders for 2006 and 2007 resembles the casualty roster from the Battle of Verdun in World War I. Only difference: way fewer walking wounded this time.
Housing Wire weighs in today with a cautionary note on the bailout of Fannie Mae and Freddie Mac, making the same point we did in our pieces this week on loan workouts – There’s no quick fix here.
From Housing Wire:
Most analysts we spoke with suggested that
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