New Orleans For not months but years, we have argued for principal reduction as the only realistic response to the foreclosure and homeowner crises in housing, and I have been clear that the main obstacle has been the collaboration between the banks that don’t want to reduce their balance sheets to reflect reality and the …
Tag: forclosure
Frontlines in Phoenix Foreclosureville
Phoenix A block away there was one sign still standing that said Holiday Gardens – “covenant restricted” — while the other was nothing but brick since the sign was long gone. A couple of blocks away an old neighborhood watch sign said this was Heatherbrae or some such neighborhood. Side by side both areas spoke …