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Underwater Mortgages

The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Step In

Ellen Brown | Posted 09.07.2014 | Business
Ellen Brown

Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing.

Zach Carter

Larry Summers Just Contradicted Tim Geithner On Obama's Foreclosure Mess

HuffingtonPost.com | Zach Carter | Posted 06.10.2014 | Politics

Larry Summers and Timothy Geithner are clearly not on the same page about that foreclosure crisis they inherited in 2009. The two former Obama admi...

Could Your Mortgage Payment Double?

Terry Savage | Posted 08.03.2014 | Money
Terry Savage

It has taken a long time for the last of these chickens (call them turkeys) to come home to roost from the halcyon days of mortgage lending excesses. But they will have a strong impact on the housing market in the next few years, and on the families that will face this hit on their finances.

Underwater America: Will President Obama, Mel Watt and Wall Street Finally Do the Right Thing for Troubled Homeowners?

Peter Dreier | Posted 07.21.2014 | Politics
Peter Dreier

The Obama administration did too little, too late, to help troubled homeowners, who faced plummeting home prices and the risk of foreclosure. The most important thing they can do is get Fannie Mae and Freddie Mac to adopt principal reduction.

The Housing Crisis Is Still Alive And Well In Florida

Posted 05.16.2014 | Business

The housing crisis hasn't gone away, it's just on spring break in Florida. Conditions are still dire for many families in the state, according to ...

What You Didn't Know About Forgiven Mortgage Debt

Toni Haber | Posted 06.10.2014 | New York
Toni Haber

On December 31, 2013, the tax exemption for mortgage debt forgiveness expired, leaving financially struggling homeowners with a big return to file.

Our Most Powerful Weapon Against Wall Street? The Reverse Eminent Domain Movement

Les Leopold | Posted 02.22.2014 | Business
Les Leopold

All of us have spent a great deal of time complaining about Wall Street and how hard it is to take them on given all their money and political power. But here we have several cities with more in the wings actually doing something about it. Wouldn't it be something if progressives all over the country spread this campaign to their own town councils?

Latest Figures Reveal Uptick in Refinancing Activity

Richard Barrington | Posted 12.01.2013 | Business
Richard Barrington

Rising mortgage rates may have thrown some cold water on refinancing activity, but they have not frozen it completely. Two statistics released this week show signs of hope for refinancing.

FHFA's Ed DeMarco: Kissing the Ass of the Banking Class

Peter Dreier | Posted 10.08.2013 | Politics
Peter Dreier

President Obama has already fired Ed DeMarco, acting director of the Federal Housing Finance Agency (FHFA), but before he leaves DeMarco is handing an early Christmas present to his friends in the banking industry.

Underwater Mortgages, Drowning Cities, and Rogue Financiers

Robert C. Hockett | Posted 10.06.2013 | Business
Robert C. Hockett

For six years and counting, multiple local foreclosure crises have brought relentlessly worsening blight, growing numbers of abandoned neighborhoods, and rapidly proliferating municipal bankruptcies to America's cities.

Wall Street Lobbyists Nervous As Cities Use Eminent Domain to Protect Homeowners

Peter Dreier | Posted 09.29.2013 | Politics
Peter Dreier

Now the same Wall Street players who crashed the economy in the first place are trying to stop local governments from solving the problem.

To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain

Peter Dreier | Posted 09.17.2013 | Politics
Peter Dreier

In almost every part of the country, entire neighborhoods -- and in some cases, whole cities -- are underwater. They are not victims of natural disasters like Hurricanes Katrina and Sandy. They are drowning in debt, victims of Wall Street's reckless and predatory lending practices.

Oppressive Mortgages and Student Debts? Check Bible and Quran

Rabbi Arthur Waskow | Posted 09.15.2013 | Religion
Rabbi Arthur Waskow

What if the American people proclaimed through action that after seven years of payment, the first $180,000 owed on owner-occupied home mortgages are annulled, released?

How to Fix the Great Real Estate After-Bubble

Mary Manning Cleveland | Posted 06.25.2013 | Business
Mary Manning Cleveland

Now these big real estate companies think they're going to make megabucks scooping up and renting out tens of thousands of foreclosed houses. Ha!

'Dump DeMarco' Housing Protestors Interrupt (and Get Evicted From) House Hearing

Tracy Van Slyke | Posted 05.20.2013 | Politics
Tracy Van Slyke

Ed DeMarco's continued ideological opposition to principal reduction -- also known as resetting mortgages to fair market value -- has made him widely known one of the biggest obstacles to our country's economic progress.

Refinancings Come Into Focus

Lita Smith-Mines | Posted 05.11.2013 | New York
Lita Smith-Mines

If we're looking for an economic rising tide to carry all our boats, I don't see it locally just yet. I see the holes in leaking vessels being plugged, while those onboard are still carrying excess weight.

Eleazar David Melendez

City Weighs Dramatic Foreclosure Crisis Solution

HuffingtonPost.com | Eleazar David Melendez | Posted 01.15.2013 | Business

In a move that’s pitting grassroots housing activists against Wall Street interests, the City Council of Brockton, Mass., decided this week to commi...

Mortgage Debt Relief Act Receives Much-Needed Extension

Anna Cuevas | Posted 03.12.2013 | Business
Anna Cuevas

Struggling homeowners can breathe a sigh of relief knowing that Congress has included an extension of Mortgage Forgiveness Debt Relief Act in an eleventh hour bill to avoid a possible fiscal cliff crisis.

Geithner Must Go

Charlie Cray | Posted 01.26.2013 | Business
Charlie Cray

An early litmus test of Barack Obama's willingness to push policies to help the middle class in his second term will be whether or not he gives Treasury Secretary Geithner the sack.

Sarah Bufkin

Underwater Homeowners Face Double Whammy In New Year

HuffingtonPost.com | Sarah Bufkin | Posted 11.24.2012 | Politics

WASHINGTON -- Beginning on Jan. 1, people who lose their home to foreclosure will be required to pay federal taxes on any unpaid mortgage the bank can...

President Obama: Your Second Term Is Your Second Chance to Get Housing Right

Tracy Van Slyke | Posted 01.07.2013 | Politics
Tracy Van Slyke

President Obama, take this second chance to get it right on housing and use your mandate to help the millions of underwater homeowners across this country.

Refinancing Woes Continue For Older Americans

Reuters | Posted 12.22.2012 | Fifty

By Cynthia Ramnarace Oct 22 (Reuters) - With $2 million in retirement assets and a stellar credit rating, Art Grossman...

LOOK: Americans Drowning In Underwater Mortgages

Posted 10.16.2012 | Business

Click on the "Percent Underwater" buttons at the topic of the graphic to navigate America's housing crisis: ...

Not Your Grandma's Eminent Domain -- This Time, It Could Be Used to KEEP Grandma in Her House

Richard Alarcón | Posted 12.12.2012 | Los Angeles
Richard Alarcón

Historically, eminent domain has been used to force people out of their homes, but what if we could use eminent domain to keep families in their homes?

Housing Crisis Barely Gets A Mention In First Presidential Debate

The Huffington Post | Alexander Eichler | Posted 10.04.2012 | Politics

The housing market received a largely hands-off treatment from both candidates during Wednesday’s presidential debate, with only a couple of minutes...