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 …
Tag: Foreclosure
Cynical Shift in Hardest Hit Foreclosure Fund
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 couple …
New Century: “Drinking My Own Kool-Aid”
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 that …