New Orleans There’s a t-shirt coming: global warming gonna get your mamma! The spate of disasters from Japan to Joplin, Birmingham, Alabama to Springfield, Mass brings all the horror home again. Living in New Orleans and still in recovery from Katrina and weaker and wiser from the experience, I keep an eye on these things, [...]
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West Palm Beach New Orleans The article in the local paper was breathless. How could it be that homes were going without buyers even though prices – and interest rates – were almost at a 40 year low point? Having drunk the Kool-Aid for so many years how was it possible that the number of American [...] New Orleans I have often quoted a line by a former Republican OMB director that we should “never suffer from premature certainty,” and given the disaster that banks, the Treasury Department, the Bush and Obama Administrations, and the servicers have made of the housing crises and its millions of homeowner victims, I almost hesitate [...] New Orleans Way back in the New York Times business section in sort of a snarky article by a ProPublica report (a nonprofit NYT outsourcer) a dangerous curtain was raised on the supposedly tough negotiations between the state attorneys general and the big banks about mortgage loan modifications. Seems on an okey-doke, wink-and-a-nod, the [...] New Orleans The good news is that more people are recognizing that the Administration’s HAMP program designed to achieve home mortgage modifications and prevent foreclosures has been a dismal failure. The bad news is that the Republicans are arguing that rather than fix it and actually prevent foreclosures, the program should be killed to save [...] New Orleans The industry spins the numbers differently each month. Foreclosures are rising, but somehow housing markets are being revived by refinancing. Little of it makes sense and often the information is contradictory, but the bottom line is that housing is still in dire straits across the country. The home mortgage modification program has [...] New Orleans In the depths of the Great Recession it is still shocking to see how oblivious and irresponsible Wells Fargo manages to be every time we turn our heads they seem to be competing with Bank of America for which bank has been most irresponsible in this mess. Now we see that part of [...] |
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