Poverty In Suburbs Increasing Rapidly During Economic Downturn
Suburban Slums – GETTY image Hope Yen Associated Press WASHINGTON — The American suburb is no longer a refuge from poverty in cities. A pair…
Mortgage
How Countrywide Covered the Cracks
Angelo R. Mozilo CEO – Countrywide Financial Gretchen Morgenson NY Times ON June 27, 2006, Countrywide Financial, the nation’s largest mortgage lender, was about to…
The Mortgage Morass: Obama Opposes Any Action That May Upset the Banks
Paul Krugman NY Times American officials used to lecture other countries about their economic failings and tell them that they needed to emulate the U.S….
Foreclosuregate
Dees Illustration The Economic Collapse If you work in the mortgage industry or for a title insurer, you might not want to make any plans…
Banks Breaking Into Occupied Homes In Foreclosure To Change Locks
Dees Illustration Huffington Post In their zeal to complete foreclosure proceedings, some banks send representatives to change the locks on properties in foreclosure, even as…
Credit Unions Bailed Out
Mark Maremont and Victoria McGrane The Wall Street Journal Two years after the peak of the financial crisis, the federal government swooped in to stabilize…
Ally Financial legal issue with foreclosures may affect other mortgage companies
Ariana Eunjung Cha The Washington Post Some of the nation’s largest mortgage companies used a single document processor who said he signed off on foreclosures…
Grayson Calls Illegal Foreclosures “Largest Seizure of Private Property Ever Attempted by Banks and Government”
Zero Hedge The key story from this morning was the Bloomberg report that GMAC Bank had halted foreclosures in 23 states, following disturbing news from…
The U.S. Path to Collapse
National Inflation Association The Financial Crisis Inquiry Commission today held hearings with former Lehman Brothers Chairman Dick Fuld. They are trying to figure out why…
Thousands seeking mortgage help line up at Palm Beach County Convention Center this morning
Kimberly Miller The Palm Beach Post Lannis Waters/Palm Beach Post WEST PALM BEACH — Thousands of people are lined up this morning outside the Palm Beach…
Post-Mortgage Meltdown, Where Do We Go Now?
NPR For more than 20 years, the mantra in Washington has been “more, not less” when it comes to Fannie Mae, Freddie Mac and the…
Nearly 50 percent leave Obama mortgage-aid program
Martin Crutsinger Breitbart Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out. The program is…
Homeowners’ Rebellion: Could 62 Million Homes Be Foreclosure-Proof?
Ellen Brown Seeking Alpha Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the…
Freddie Mac says needs $1.8 billion from taxpayers
Corbett Daly Reuters Mortgage finance giant Freddie Mac (FMCC.OB) on Monday said it would need another $1.8 billion in aid from taxpayers, bringing its total…