Turn on the TV today, and there’s a pretty good chance you’ll hear the line, “and I approve this message.” 

Yes, we’re in the heat of one of the most competitive Presidential campaigns in modern history, with more advertising spend than any previous election. While it is possible to gleam information from these ads, as well as following cable news, chances are that the candidate’s economic positions are less than clear at this point.

As a result, we wanted to provide you some insight into the candidate’s plans to address the housing market crisis, so you can make more informed political and economic choices going forward. 

Whether you are a homeowner facing foreclosure uncertainty, or you just want to make sure the economy gets turned around as quickly as possible, this is an important election for the future of this country.

As usual, we are advocating for you and are independent on the race itself - we know that our readers make smart, informed choices.

First, we want to take a look at Senator Obama’s economic plan to homeowners. Obama and Biden’s plan aims at both improving the flow of information to potential borrowers, as well as providing tax relief to certain mortgage holders.

Broadly outlined, there are four elements of Obama’s homeowner plan:

I) Give More Options to Homeowners Forced to Declare Bankruptcy

As part of Obama’s plan to assist distressed homowners, the Senator is proposing to allow bankruptcy court judges to adjust mortgage payments for those who are forced to declare personal bankruptcy. This plan aims to allow those who are bankrupt to have some breathing room so that they can work out of their current debt, while maintaining in their home in a modified payment plan. Read the rest of this entry »

The social impacts that this mortgage and foreclosure crisis are having on people, families and our communities are nothing short of devastating.

What was once a rare occurrence has now become daily normal life in many neighborhoods across the country. Suicides, murder, divorce, depression, crime and blithe are all attributes of the foreclosure crisis and it all can be traced back to the toxic mortgage. A mortgage that was sold by the very players that are getting golden parachutes and Wall Street on the verge of a trillion dollar bailed out as we, the people, foot the bill and continue to suffer on Main Street. Read the rest of this entry »

Don’t these guys just rate cars and appliances? That’s what I thought until I saw the new survey titled simply, “Satisfaction with Mortgage Servicing Declines for a Second Consecutive Year.”

Looking down the list of small time and big time mortgage servicers, I see the familiar names and players. Some belong where they are on the list. Like the infamous predatory servicer, “OCWEN”, who was dead last in customer satisfaction. But other mortgage servicers who deserve to be at the bottom with OCWEN were given just too much props and or persuasion to give them a higher rating than I feel was warranted. I am sure thousands of housing counselors, Non-Profit CEO’s and struggling homeowners will attest to this fact also.

Take for example, Wells Fargo.

They came out at a high #3 in the survey and anyone who is worth their salt will tell you that this is the biggest crock of crap they have ever heard. They belong tied with OCWEN in servicing hell at the bottom of the heap. They didn’t even address ASC (American Servicing Company) who is owned by Wells Fargo and hides under the anonymity of ASC in the predatory servicing shadows. Read the rest of this entry »