Phoenix The relentless rise of foreclosures through metro Phoenix continues unabated, as borrowers try to hang on and many assisting beleaguered homeowners tear their hair in frustration in dealing with unaccountable and uncommunicative lenders and an inept government. I spent a chunk of my day reading the handbooks and guidelines for the HAMP program (Home …
Category: Foreclosure
New Program: More Bailout, More Drowning
New Orleans President Obama, Secretary Geithner, and the rest of the hapless pickup crew that flubs around in the housing and foreclosure crises came together to “repurpose” yet more of the TARP money that was set aside for home mortgage modifications that might prevent foreclosures and threw $15 billion of the total at some homeowners …
Soft Case for Home Ownership: Forced Savings/Low Interest Rates
New Orleans Dueling columns in the Times smashed the drunken or doped spin of the Realtors Association trying to claim that the housing market was “back” and in the “Your Money” section made a soft and shrugging case for home ownership: “Indeed, many people who are buying at the moment are locking in mortgage …