U.S. STANDS FIRM IN SUPPORT OF WALL STREET WHILE THE REST OF THE WORLD TAKES THE ECONOMIC CRISIS SERIOUSLY

MR. GEITNER, MR. SUMMERS AND OTHERS WHO ARE ON THE ECONOMIC TEAM DESERVE some CREDIT FOR BRINGING US BACK FROM AN ECONOMIC PRECIPICE THAT WOULD HAVE RESULTED IN A DEPRESSION FAR DEEPER AND LONGER THAN THE GREAT DEPRESSION. AND THEY SHOULD BE CUT SOME SLACK BECAUSE THEY WERE HANDED A PLATE ON WHICH THE ECONOMY [...]

“The Dog Ate Your Mortgage” — Gretchen Morgenson (NY Times) Hits it Again

LIVINGLIES NOW AVAILABLE ON AMAZON KINDLE!
SIGN UP FOR CLEARWATER, FLORIDA SEMINAR NOW

If you want a summary of about 75% of what we cover at the seminar in Clearwater, Florida on November 1-2, just read this article. I’ll explain how we got to this point, the legal points to be raised and how to aim [...]

Don’t Get “HAMP”ED Out Of Your Home!

By Walter Hackett, Esq.

The federal government has trumpeted its Home Affordable Modification Program or “HAMP” solution as THE solution to runaway foreclosures – few things could be further from the truth.  Under HAMP a homeowner will be offered a “workout” that can result in the homeowner being “worked out” of his or her home.  Here’s [...]

Bush Administration Saw It Coming, Was Told to do Something, Did Nothing

AP IMPACT: US diluted loan rules before crash
– Gov’t rejected tougher mortgage rules in 2005
WASHINGTON – The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial [...]

Finally — MY Times Gets it — editorial Aligns with Sheila Baer at FDIC

Nearly three weeks ago, Sheila Bair, the chairwoman of the Federal Deposit Insurance Corporation, told Congress that the agency was working closely with Mr. Paulson’s department to develop a robust anti-foreclosure plan. Since then, the Treasury Department has balked and equivocated while the White House has argued that it is already doing plenty to help [...]

MICHIGAN REPUBLICANS BARRING VOTERS IN FORECLOSURE IN NOVEMBER ELECTION

Apparently on the assumption that most of these voters are either Democrats or otherwise people who will blame Republicans for not regulating Wall Street and Lenders, Republicans with close ties to the largest foreclosure law firm in the State, which raised $250,000 for them, have taken control of the polling and are removing people from [...]

Foreclosures Go Hyper, Up 65%

Anyone reading this site will not find it surprising that the number of foreclosures is rising by unprecedented numbers at unprecedented rates. At the same time, the FBI is getting involved claiming mortgage fraud is on the rise at well.
Let’s tell it like it is: Until this scam was perpetrated by Wall Street on the [...]

Mortgage Meltdown: Abandoned Homes Torpedo Neighborhoods

When foreclosures rise, crime often follows, researchers said. A 2005 study by the Georgia Institute of Technology and the Woodstock Institute found that, holding other factors constant, each foreclosure in a 100-house neighborhood corresponded to a 2.4 percent jump in violent crime.
ONE IS LED TO WONDER WHEN THE BIG BOYS ARE GOING TO REALIZE THAT FORECLOSURE IS [...]

HUD RELEASES TIPS FOR AVOIDING FORECLOSURE

HUD RELEASES TIPS FOR AVOIDING FORECLOSURE
Information aimed at helping more homeowners stay in their home
WASHINGTON – Today, the U.S. Department of Housing and Urban Development (HUD) released its top 10 tips for homeowners who are facing foreclosure.
“These guidelines will assist homeowners who are struggling to pay their mortgage and could be threatened with foreclosure,” said [...]

Borrowers/Investors Fight Back!—SubPrime Bailout Blowout

The big boys were all about stepping up to the plate to hand back some of their hard-earned (make that unearned) profits with a bailout fund. First it was $75 billion, then it was $100 billion, today it is $80 billion and going down because in the final analysis it is once again about smoke [...]