Posts tagged as:

obamas housing plan

Housing Market Still Pathetic After Government Intervention

by Moe Bedard

Over 900,000 homeowners have started trial modifications and over 1 million offers for trial modifications have been extended to borrowers, according to the government.
However, about 25% of homeowners who received trial loan modifications through the plan are failing to keep up with their new reduced payments, and at least 196,000 borrowers have missed some or [...]

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Keep on Refinancing: Obama’s Newest Solution

by Moe Bedard

This morning I read a news wire from Reuters about Obama’s newest message to the public: take advantage of some of the lowest mortgage rates in history. Over the last decade I’ve grown to be somewhat of a skeptical man regarding solutions put forward by our elected officials. This [...]

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Hidden in Obama’s Housing Bill, The Mortgage Investors Protection Act Of 2009

by Moe Bedard

Hiding in Obama’s foreclosure bill are provisions to protect big investors from bankruptcy cramdowns.

Washington is finally realizing that there are two types of mortgage investors and you usually can’t help one without hurting the other.
A last-second addition to the Helping Families Save Their Homes Act of 2009 would make it so that senior mortgage investors–often [...]

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Obama’s Foreclosure Dilema: Where’s the Accountability?

by Moe Bedard

Mortgage servicing is at the heart of the foreclosure crisis. Few people understand the role that servicers play as opposed to the institutions that provide loans (banks and lenders). When critical aspects of problems are not well understood the probability that problems will linger on increases exponentially.

Servicers do not merely accept payments from borrowers, they also play a major role in deciding when to foreclose on homes. As intermediaries between the borrower and the institutions that lend money, servicers clearly play a critical role in the solution to the ongoing crisis.

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Obama administration delay foreclosure rescue details

by Moe Bedard

Few people would argue that there is a simple solution to the current mortgage and housing crisis. This crisis, however, has been brewing for years and now through two administrations. Is it sufficient that the present administration can clearly articulate the problem or is it time that we begin to demand specific answers from our [...]

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FACTBOX: Obama’s new priorities for financial rescue fund

by Moe Bedard

A link to some of the new initiatives and reforms to the Troubled Asset Relief Program favored by the Obama team that have backing from Rep. Barney Frank, the chairman of the House of Representatives Financial Services Committee.

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Foreclosure Fighter Obama Says, “Allow Bankruptcy Court Judges to Modify Mortgage Payments”

by Moe Bedard

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 [...]

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