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 – …
Category: Foreclosure
New Orleans Needs Katrina Gap Money
New Orleans Road Home, the famously slow to get started mess of a program whose ineptness cost Governor Kathleen Blanco any hope of re-election, now finds yet another pothole in the path of the recovery of the city. There is $800,000,000 of unspent funds in Road Home and given the national budgetary disaster, the House …
Fannie Mae New Purchase Bar: Bark not Bite
Phoenix OK, let me try and get this straight. Fannie Mae (with its housing finance partner Freddie Mac) is already bailed out to the level of about 200+ billion with some estimates that the final federal bailout bill will hit almost $400 billion, right? Most of that is a transfer of their bailout money over …