Housing Market
« Previous EntriesTurning Home ‘Buyers’ Into Renters
Friday, November 6th, 2009Fannie Mae is becoming a landlord…
Fannie Mae will allow homeowners facing foreclosure to stay in their homes and rent them for as long as a year, as part of the government’s latest effort to help troubled borrowers, while keeping more foreclosed properties from hitting the housing market.
The “Deed for Lease” Program lets borrowers who don’t [...]
When the Going Gets Tough…The ‘Rich’ Bail?
Wednesday, October 7th, 2009Increasingly, homeowners with good credit and no late payments are making what appears to be a strategic decision to walk away when their home’s value falls below what’s owed.
Beth sent me a link to the article on MSN that is the source of the above sentence (The Rich Bail Faster on Mortgages).
More [...]
Where Would We Be if All States Followed Vermont’s Example?
Tuesday, August 18th, 2009There was a very interesting article in today’s WSJ about how Vermont’s mortgage laws helped prevent the bulk of the real estate bust in their state.
I wanted to point out one of the stories in the article:
Insurance adjustor Ginger Shields says she tried for years to qualify for a home loan. After a decade and [...]
Follow-up on the Lady Who Baked Her Way Out of Foreclosure
Wednesday, July 29th, 2009Call me a sucker but I like this kind of stuff (I mentioned this last week):
Visit msnbc.com for Breaking News, World News, and News about the Economy
I know not everyone can do this but you have to applaud the effort of this woman.
This Woman Is Baking Her Way Out of Foreclosure
Wednesday, July 22nd, 2009This is awesome:
Avoiding Foreclosure? It’s a Piece of Cake
It’s refreshing to see someone not waiting for someone to come help her out even though she has a legitimate reason to need help (due to her contractor).
Be sure and read the comments that go along with the article.
If You Want a Great Overview of the Subprime Mortgage Crisis, READ THIS BOOK!
Tuesday, July 7th, 2009I finally finished reading David Faber’s And Then the Roof Caved In: How Wall Street’s Greed and Stupidity Brought Capitalism to Its Knees*. Although it’s a short read it took me a while to finish because I have a lot on my plate these days.
Despite what some of the negative reviewers say [...]
25% of Borrowers Who Received Mortgage Payment Reductions Fell Behind Again
Tuesday, June 30th, 2009For every four borrowers that received a mortgage payment reduction, one ended up falling behind again.
Okay, I guess the optimistic way to state that would be to say that the mortgage payment reduction program has had a 75% success rate (still that’s a “C” if you were using a grading scale). There’s [...]
What’s Going to Prevent The Housing Crisis From Happening Again?
Thursday, June 25th, 2009Interesting article by David Wessel in today’s WSJ about how he believes (and Greenspan too) that the economy can only rebound if housing prices rebound. From the article:
For the two-thirds of American families who own their homes, a house is their biggest asset. The lower house prices go, the less wealthy they are and [...]
Flawed Thinking…
Tuesday, June 9th, 2009Check out this comment that was left the other day on one of my old mortgage posts:
Two years ago we stopped investing in our 401k and we began paying thousands against the principal on our home. We only have $1,500.00 left to pay and the property is ours and we didn’t lose our a$$et$ to [...]
What Should Happen to Angelo Mozilo?
Friday, June 5th, 2009The SEC has charged Angelo Mozillo with fraud. You can read the full complaint here (PDF).
The article seems pretty clear that Mozilo was aware of just how bad things were while he was dumping his company stock. Mozilo had always played the “I-don’t-know-how-this-could-have-happened” card. I remember reading in the Wall Street Journal [...]