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foreclosure and financial crisis
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Organized Tenants Are Baaaaack
After a lull in the 1990s, the tenants rights movement reemerged and has only gained strength. What caused the resurgence and what do tenants’ prospects look like?
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Forcing Banks to Buy Back Loans
On Tuesday, the Senate Banking Committee is slated to consider the administration’s nomination of Joseph A. Smith Jr., the commissioner of banks for North Carolina, to head to head the […]
A Tale of Two Markets: Affordability and the State of the Nation’s Housing in 2010
For first-time homebuyers with good credit, stable employment, and savings for a down payment, buying a home is more affordable than it has been in decades. For everyone else, however, lower home prices have been a disaster.
Walking Away Becoming Less Taboo
We’ve been talking about the pragmatic component of strategically walking away from your mortgage for some time now. For a while, there was a typical double standard where it was […]
HUD Announces NSP3
HUD has announced round three of the Neighborhood Stabilization Program, which allows for an additional $1 billion of funding to states and communities fighting the effects of the foreclosure crisis. […]
Streaming Live: The Fed’s REO and Vacant Property Strategies for Neighborhood Stabilization
The Federal Reserve System is sponsoring a national summit on September 1 and 2 to discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home […]
What? No Investment Opportunity?
Here’s a headline o’ the times, courtesy of The Wall Street Journal though it’s a shame that we were ever in a place where buying a home was anything other […]
HAMP Takes a Licking
All we can say is “ouch.” Dow Jones reports that Thursday’s hearings held by the House Oversight and Government Reform Committee designed to assess HAMP’s progress resulted in what amounted […]
Banks Cleaning up Their Mess to Count as CRA Credit?
Financial regulators proposed yesterday to allow all activities carried out under the auspices of NSP to count toward a lender’s CRA compliance. This would only last as long as NSP […]
Some Relief in the Gulf for Homeowners
Housing Wire reported this morning that mortgage giant Fannie Mae has authorized its servicers to reduce mortgage payments or suspend payments altogether for those homeowners affected by the BP oil […]
Strategic Default Can Make Sense, Right? Well, Not So Fast
Walking away from one’s mortgage, particularly a mortgage that is underwater, has increasingly become a viable option for homeowners who can no longer live by the terms of their mortgage […]
Housing Markets that Will Never Recover?
Residents of Detroit, Cleveland, Memphis, Buffalo are probably surprised to know that they didn’t make 24/7 Wall Street’s list of 13 Housing Markets that Will Never Recover. This is probably […]
HAMP Moving Along Slowly
The rate of permanent loan modifications for homeowners involved in the government’s Home Affordable Modification Program increased increased in March by roughly 13 percent, or 68,000 modifications, in a sign […]