New Orleans The draconian back door assault on citizen wealth continues as the impacts of new credit rules ripple through mortgage market and deny motivated – and qualified – buyers access to loans. A quote in the Times today is revealing: “Stuart Fraass of Guaranteed Rate Inc. ‘If you’re self-employed, you have virtually no chance …
Category: Foreclosure
Foreclosure Mods Farce
New Orleans The scorecard is finally being written on the ballyhooed, though mostly baloney, loan modifications being done by big home mortgage loan servicers and trumpeted by the federal government (and largest shareholder in many of these outfits) as a real plan for foreclosure relief, and it stinks. Gretchen Morgenson in a searing Times column …