All Posts Tagged With: "loans"
Occupy Movement Eyes Foreclosures & Squat-Ins
The Oakland branch of the Occupy movement has passed a resolution favoring the seizure of foreclosed and abondoned homes. There are a lot of homes available for squatters in the state because of unpaid mortgages and loans. California has the nation’s second-highest foreclosure rate according to RealtyTrac. Nevada ranks #1. While the Occupy movement started [...]
4Nov2011 | Peter G. Miller | 2 comments | Continued
America’s Big Banks, America’s Financial Vietnam
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures [...]
3Oct2011 | Peter G. Miller | 0 comments | Continued
Should Government Set Mortgage Rates?
With all the talk of getting a new mortgage there’s one question which no one seems ready to touch: Why doesn’t the government ought to set mortgage rates? At first this may seem like an audacious idea, a violation somehow of the free market absolutism preferred by so many businesses and industries — at least [...]
26Sep2011 | Peter G. Miller | 0 comments | Continued
Mortgages: Should We Jail Optimistic Economists?
In Italy seven people have been indicted for failing to predict an earthquake that killed more than 300 people. “Six Italian seismologists and one government official will be tried for the manslaughter of those who died in the earthquake that struck the city of L’Aquila on 6 April 2009,” reports Nicola Nosengo with Nature News [...]
18Jul2011 | Peter G. Miller | 0 comments | Continued
Vets Get $22 Million to Settle Mortgage Foreclosure Claims
Two national mortgage lenders will pay more than $22 million to settle claims under the Servicemembers Civil Relief Act (SCRA) that they allegedly violated a law meant to insulate military members from illegal foreclosure, according to the Department of Justice. A Bank of America subsidiary improperly foreclosed on about 160 service members from January 2006 [...]
15Jun2011 | Chris Birk | 0 comments | Continued
Mortgage loan foreclosures slowed by robo-signing scandal
It turns out that the robo-signing mess was not such a minor manner, a mere paperwork slip that can be easily corrected. The latest figures from RealtyTrac show that foreclosure activity dropped substantially in November, reaching the lowest level since November 2008. Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported [...]
16Dec2010 | Peter G. Miller | 0 comments | Continued
Foreclosure robo scandal may impact millions of mortgages
At first robo-signing seemed to be just a problem for courts and lawyers — in few situations would foreclosures be reversed. But now the Congressional Oversight Committee says the damage may be far greater than first believed and could impact millions of mortgages as well as mortgage-backed securities worth trillions of dollars. “In the best-case [...]
16Nov2010 | Peter G. Miller | 1 comment | Continued
FHA “Short Refinance” — Is This The Way To Reduce Foreclosures?
Imagine that you have a mortgage and want to refinance to get a lower rate but the debt is greater than the value of the home. Imagine also that if you can refinance you can avoid foreclosure. The government is now trying to address this scenario, something which is common across the country, especially for [...]
9Aug2010 | Peter G. Miller | 2 comments | Continued
Mortgage Reform Now — 6 Ways To Fix What’s Broke
For all the talk of reform on Wall Street, a quicker and easier way to assure that big banks don’t fail and small borrowers don’t get screwed is to simply fix the mortgage origination system. Fixing the mortgage system is crucial if we’re to prevent another financial meltdown. If the mortgages are done right than [...]
22Apr2010 | Peter G. Miller | 0 comments | Continued
What Are Private Mortgages?
We usually think of real estate financing in terms of loans from banks, mortgage brokers, mortgage banks, credit unions and insurance companies. In fact there’s another source of real estate financing, private mortgages. Private mortgages can be alluring and in some cases financially dangerous. In the best case a private mortgage will provide a low [...]
4Mar2010 | Peter G. Miller | 0 comments | Continued
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