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Here’s an Ad We Don’t See These Days

Monday, October 22nd, 2012

I was reading about Ray Lewis last night and one of the articles I read about him was in a PDF version of a magazine. Paging through the magazine, I came across an add for a mortgage broker who offered the following: WOW! This was from a magazine published in 2007. I know it was […]

Are Housing Prices FINALLY Starting to Rebound?

Monday, September 10th, 2012

The cover story in this week’s Barron’s is about the housing market. Nothing’s wreaked quite the havoc on the U.S. economy, and indeed the national psyche, as the six-year slide in home prices. It wiped out some $7 trillion in household wealth, savaged bank balance sheets, and induced the Great Recession and the tepid recovery. […]

Robert Shiller: “Reviving Real Estate Requires Collective Action”

Monday, June 25th, 2012

Read this over the weekend: Reviving Real Estate Requires Collective Action What does he mean by “collective action”? Well, here’s one idea, which I find scary: ROBERT C. HOCKETT, a Cornell University law professor, has outlined another approach, which uses the principle of eminent domain, to solve this collective action problem. Eminent domain has been […]

A Trip to Magic Fairy Land for Some Homeowners

Tuesday, May 8th, 2012

This makes me ill: Bank of America Offers Principal Reductions to 200,000 Homeowners A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction. …eligible borrowers could get […]

More on the Housing Settlement

Friday, February 10th, 2012

According to this morning’s WSJ, banks have reached an agreement over alleged foreclosure abuses (the WSJ’s wording). The settlement is for $25 billion. Details aren’t hammered out but in general, it will… • Provide $17 billion to borrowers at risk of foreclosure. • Offer reductions in loan principal and other assistance to qualifying homeowners. • […]

Haven’t We Been Down This Road Before?

Monday, January 30th, 2012

I read this last Friday in the WSJ: The Loan Quota Rule For the latest example of regulatory overreach, look no further than the Department of Housing and Urban Development, which is pushing through a rule to support racial loan quotas a few months before the Supreme Court will rule on whether that’s legal. The […]

This Stuff STILL Angers Me…

Tuesday, January 24th, 2012

Begin rant. Just saw this on MSN: Deal could cut principal on 1 million loans Apparantly, there’s ANOTHER deal being hammered out to help homeowers (misspelled on purpose). Here’s how this deal might work out: • $17 billion would go toward principal reductions. If 1 million homeowners were to be helped, that would equal an […]

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