Details Of Streamlined Mortgage Modification Released
The Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac announced the details for streamlining the mortgage modification process for homeowners in default. The new guidelines are an effort to standardize the eligibility requirements, thereby allowing [...]
HUD Loan Modification Program Called A Failure
None other than the Secretary of Housing and Urban Development has declared the HUD loan modification program, known as Hope for Homeowners, to be a failure. Steve Preston, HUD Secretary , blamed Congress for the program’s failure. [...]
FOREX Traders Call Bernanke’s Hand
Currency traders have voted on the Fed’s latest policy decisions and this is the result - a collapsing dollar.
Courtesy of stockcharts.com
The magnitude of the latest rate cut apparently surprised foreign dollar holders who can only assume that [...]
The Age Of Austerity
Very little of the $8 trillion plus that the Government has committed to the economy seems to be trickling down to the average consumer.
One in five U.S. households was behind on its utility bills
One in five U.S. [...]
Signs Of A Bottom In Real Estate
The Federal Reserve would like us to believe that lowering rates will reverse the decline in housing values. They have brought interest rates to virtually zero providing some payment relief to selected borrowers. In the long run, [...]
Deflation Everywhere As Credit Unwinds
Motorola Tightens Belt Again - Wall Street Journal
Motorola Inc. announced most employees won’t get raises next year and put a freeze on its U.S. pension plan and matching 401(k) contributions as the struggling cellphone maker continues to [...]
The Illusion Of Prosperity Ends
Every day brings more examples of the failed strategy of fostering economic growth through the use of easy credit. Modern economies need credit to grow and prosper. Applying credit growth on an exponential basis ultimately fails when [...]
When A Walmart Clerk Beats A $2 Million Trust Fund
The Federal Reserve fired its last bullet today by formally cutting interest rates to zero percent. A Fed statement noted that “The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth [...]
Loan Modification Efforts Continue
Despite the recent news that many of the mortgage loans modified have gone back into default, the loan modification effort continues. Until a better solution is found loan modification efforts will continue, especially given the full backing [...]
