Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product -- such as pulling all their cash out at one time -- has led to significant financial problems later, including foreclosure.
It's all about how millions of Americans who may have been thrown out of their homes, or at least forced to stress about the possibility, were denied access to information that might have revealed how widespread the foreclosure problem was.
Every day struggling New Yorkers who are behind on their mortgages -- facing foreclosure, and desperate to keep their heads above water -- are bombarded with TV and radio ads promising lower interest rates or a reduction in their mortgage principal if they "call now!"
As I sat waiting to be called in I thought about Thanksgiving, its origins and about how lucky I am. My life like most has challenges, yet I pride myself on virtually never complaining. Then I had an aha moment.
The economists at Freakonomics recently highlighted the work of the Copenhagen Consensus Center, which engages with import public policy issues through the lens of cost-benefit analysis.
It's now widely known that the foreclosure crisis and the resulting recession have been devastating to homeowners and neighborhoods across New York State. Sadly, the foreclosure crisis has also generated a second wave of hardship for homeowners: foreclosure rescue fraud.
The mid-term elections are over, but -- as of this minute -- Congress has not tackled extending some tax breaks, i.e. that collective group known as the "Tax Extenders", which we address seemingly every couple of years.
Amid all the recent reporting about income inequality in America, one fact has remained remarkably well hidden: Washington, D.C. has a higher level of inequality than any of the 50 states.
All of this information is nice, unless you own a home in a neighborhood with a foreclosure in poor condition sitting there dragging down neighborhood home values. Actually, there is some lemonade to be made here.
Yes, David Trott, former head honcho of the Michigan foreclosure law firm Trott & Trott will likely suffer serious burns now that he's the Republican pick for the Congressional race to represent Michigan's 11th District.
While some households and neighborhoods have recovered from the recession, most black and Latino households and neighborhoods are still waiting to recover.
The auction is the personal version of the city's financial troubles, showing on-the-ground evidence of the individual struggles which resulting in people's inability to pay for their property.
Ironically, Speaker Boehner resorted to the American justice system to sue President Obama, the very system he has worked relentlessly to underfund for indigents. Instead of suing Obama, he should start fixing the system he and his colleagues broke.
The Illinois Constitution is designed to protect itself from amendments with grassroots origins. The authors of the 1970 constitution and the voters who ratified it made a clear statement: Constitutional amendments offered to voters should, with one narrow exception, come from elected lawmakers, not ordinary citizens.
At the conference Lew cast some bread upon the water -- announcing an extension of HAMP and related programs through 2016 -- and these crumbs were eagerly consumed by so-called housing advocates
Recent research about student loans and mortgages raises the question of whether having too much debt can make you sick. Survey results are particularly troubling because they suggest that it is the debt itself -- not the burden of repayment.