Categories

Promises Broken and Settlements Sidetracked for Homeowners Facing Foreclosures

Little Rock           I’m sorry. Here we go again spinning like a broken record on the amazing and devastating ineptness of the US government and its various agencies and branches to seriously solve the problem of bank intransience and offer real relief to borrowers needing loan modifications to escape foreclosure and [...]

Little Change on Foreclosure Modifications but Subprime Loans are Back

New Orleans        In the US we are seven years out from the Great Recession, depending on how you count the pain and mark the scars.  Homeowners have lost their homes through 7 million foreclosures in that period.  More than 9 million homeowners are still underwater, owing more than the value of their homes now, with the banks, like [...]

Bad Math and Foreclosures are Twin Towers of Banking

New Orleans  I know you are sick about hearing about foreclosures.  I sure am!  This has all gone on so long and so painfully, and now even the so-called settlements and cleanup of the mess is extending the tragedy.

            What do we have now?   Bank of America makes an accounting error and the miscalculation [...]

How can Billion Dollar Fines be Little More Than Water off a Duck’s Back?

New Orleans   I hate to admit it, but to me a billion dollars still seems like a whole lot of money.  Unfortunately, I’m afraid saying so makes me hopelessly hide bound and old school.

            Why?

            Because the government seems to be passing out billion dollar fines like candy to banks, utility companies, oil [...]

Time for a “Silver Revolution?”

New Orleans  A couple of days ago The Wall Street Journal ran a starkly realistic and somewhat depressing story about retirees, either voluntarily or forcibly leaving their jobs, who had been planning to find new work or who needed to find work to supplement minimal pensions or social security, who were being forced to abandon [...]

Important Suit to Stop Diversion of Foreclosure Relief Funds for Other Purposes

Peterborough    Three California-based nonprofits, the National Asian American Coalition, COR Community Development Corporation, and the National Hispanic Christian Leadership Coalition sued Governor Jerry Brown and his team in California demanding replacement of $369 million obtained for the state for mortgage foreclosure relief and diverted to pay for state debts.  The suit alleges that according to [...]