New Orleans The article in the local paper was breathless. How could it be that homes were going without buyers even though prices – and interest rates – were almost at a 40 year low point? Having drunk the Kool-Aid for so many years how was it possible that the number of American families wanting …
Tag: Foreclosure
Hope for Frances Gomez and Other Foreclosure Victims
New Orleans I have often quoted a line by a former Republican OMB director that we should “never suffer from premature certainty,” and given the disaster that banks, the Treasury Department, the Bush and Obama Administrations, and the servicers have made of the housing crises and its millions of homeowner victims, I almost hesitate to …
Bank’s Hustling AGs and Consumers on Second Mortgages
New Orleans Way back in the New York Times business section in sort of a snarky article by a ProPublica report (a nonprofit NYT outsourcer) a dangerous curtain was raised on the supposedly tough negotiations between the state attorneys general and the big banks about mortgage loan modifications. Seems on an okey-doke, wink-and-a-nod, the deal …