New Orleans We have now gone past tearing out our hair in frustration and are moving to full throated screams for help, but nothing seems to be putting a dent in the hapless and incompetent fiction that we have a national foreclosure modification program. Recently the Obama Administration announced that it was moving another [...]
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Denver New Century Financial Corporation dead in the heart of Orange County, which used to be subprime central, was the canary in the mine that not enough people heard as their demise ushered in the great meltdown for home buyers and mortgage holders. The other day a piece in the Los Angeles Times noted [...] New Orleans Tomorrow in Phoenix Advocates & Actions will release a report called “Modification Mysteries: Playing Foreclosure Roulette with the Banks.” The report will not only document the huge ineptness of the Treasury Department and the banks in handling foreclosure modifications (as I discussed last week less than $250 million has been spent of [...] Portland Are you kidding me? What does it take for the Treasury Department to make the foreclosure modification program to work? Well, they have to actually run the program and supervise the banks, rather than let the foxes run and guard the hen house. Seems the inspector general for TARP – the bailout program – [...] |
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