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GOP criticizes mortgage plan

House Democrats bring to the floor today a plan to stanch the home foreclosure crisis with measures that include government-backed mortgage refinancing and money for states to buy derelict homes, but Republicans say the $2.7 billion bill is nothing more than a “bailout scheme.”
Democrats bristled at the bailout accusation, saying their bill is tailored narrowly [...]

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Growing Mortgage Foreclosure Crisis: Identifying Solutions and Dispelling Myths

The the U.S. House of Representatives Committee on the Judiciary, Subcommittee on Commercial and Administrative Law holds a hearing today. The subject of the hearing is the “Growing Mortgage Foreclosure Crisis: Identifying Solutions and Dispelling Myths” and the new bankruptcy bill is on the agenda.
The Mortgage Bankers Association  (MBA) has an agenda and their agenda [...]

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Baltimore Is Suing Bank Over Foreclosure Crisis

Baltimore’s mayor and City Council are suing Wells Fargo Bank, contending that its lending practices discriminated against black borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.
The recent surge in homeowner defaults nationwide, generated by lax lending practices during the real estate boom, has officials bracing [...]

Popularity: 1% [?]

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    • I just got an ad from wamu for a new credit card. what the hell does that signify?
      carol123 | 9Oct08 | More
    • WAMU failed and they still haven’t dealt with my application. My interest rate jumped and so did my mortgage by ...
      m_aster2004 | 9Oct08 | More
    • sincitykim - FDIC is handling the workouts for Indymac. You might talk to someone there, they've reported helping over ...
      darla | 7Oct08 | More