Underwater Mortgages

Brad Miller: Politician Wants To Level The Playing Field For Homeowners

The New York Times | GRETCHEN MORGENSON | Posted 05.25.2011

Read More: Conflict of Interest, Hamp, Brad Miller, Making Home Affordable, Mortgage Servicers, Liens, Financial Reform, Banks, Foreclosure, Obama, Wall Street, Second Mortgages, Underwater Mortgages, Business News

[Rep. Brad Miller] is worth getting to know, not only because of his deep concern about the foreclosure epidemic, but also because he has made a compe...

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Nearly One Quarter Of Mortgage Borrowers Owe More Than Their Home Is Worth

DailyFinance | CHARLES HUGH SMITH | Posted 05.25.2011

Read More: Foreclosure Crisis, Real Estate, Corelogic, Real Estate Prices, Home Prices, Underwater Mortgages, Negative Equity, Business News

By the end of the first quarter of 2010, the number of mortgaged residential properties with negative equity had declined slightly to 11.2 million, do...

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Fannie, Freddie May Forgive Mortgage Debt For Some Borrowers: Reuters

James Pethokoukis | Posted 05.25.2011

Read More: Fannie Freddie Reform, Freddie Mac, GSE Reform, Fannie Freddie, Fannie Mae, Foreclosure, Mortgage Debt, Underwater Mortgages, Business News

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is abou...

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Foreclosure Repossessions Hit Record High in August

HuffingtonPost.com | William Alden | Posted 05.25.2011

Read More: Foreclosures, Housing Market, Foreclosure Crisis, Mortgage Crisis, Arizona, Idaho, Foreclosure News, Housing Crisis, Underwater Mortgages, Upside Down Mortgages, Mortgages, Mortgage, Default, Subprime Mortgage Crisis, Loans, Home Loans, Business News

August saw more Americans lose their homes to foreclosure than any other month on record, RealtyTrac reported today. Banks repossessed a total of 9...

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HAMP Homeowners Sue Bank Of America Over Mortgage Modification

USA Today | Posted 05.25.2011

Read More: Court, Mortgage Mods, Making Home Affordable, Bank of America, Permanent Modifications, Obama, Lawsuit, Housing Crisis, Underwater Mortgages, Mortgage Modificiations, Hamp, White House, Foreclosure, Class Action Lawsuit, Politics News

Permanent modifications, which lower mortgage payments to 31% of a borrower's pretax monthly income for five years, have been given to only about a th...

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Averting the Next Mortgage Meltdown While Cooling the Planet

Daphne Wysham | Posted 05.25.2011

Read More: Energy, Climate Change, Green Jobs, Green Living, Green Energy, Public Schools, U.S. Economy, Small Business, Subprime Mortgages, Tax Relief, Mortgage Crisis, Jobs, Business, Construction Jobs, Underwater Mortgages, Green News

With a national effort to boost energy efficiency, we could actually meet the the building sector's greenhouse gas emissions targets set by the Obama Administration for the next few years.

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Most Mortgage Defaults Come From Rich And Wealthy With Million Dollar Loans

The New York Times | Posted 05.25.2011

Read More: Wealthy, Mortgage, Default, Expensive, Financial Crisis, Foreclosure Rate, Foreclosure, Rich, Second Homes, Walk Away, Real Estate, Underwater Mortgages, Business News

More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Time...

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Congress Overlooks Fannie Mae, Freddie Mac In Financial Reform Debate

New York Times | Posted 05.25.2011

Read More: House, Freddie Mac, Senate, Congress, Delinquencies, White House, Bailout, Financial Reform, Financial Crisis, Foreclosure, Wall Street, Fannie Mae, Underwater Mortgages, Politics News

Freddie -- already propped up with $52 billion in taxpayer funds used to rescue the company from its own mistakes -- recorded a loss of $6.7 billion a...

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Average Homeowner In Obama Foreclosure Program Deeply Underwater, Drawing Calls From GOP To Cut Off Help

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Mortgage Modification, Making Home Affordable, Darrell Issa, Mha, Mortgage Crisis, Housing Crisis, Underwater Mortgages, Hamp, Loan Modifications, Home Affordable Modification Program, Financial Crisis, Foreclosure, Business News

The average beneficiary of the Obama administration's flagship homeowner-assistance program owes their mortgage lender more than $1.50 for every dolla...

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75% Of Homeowners In Obama's Loan Modification Plan Still Owe More Than Their Homes Are Worth

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Tarp, Wall Street Bailout, Laurie Goodman, Elizabeth Warren, Mortgage Walk Away, Backdoor Bailout, Underwater Mortgages, Richard Neiman, Financial Crisis, Congressional Oversight Panel, Negative Equity, Video, Business News

More than three-quarters of homeowners who have had their monthly mortgage payments reduced under the Obama administration's primary foreclosure-preve...

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House Targets Underwater Homeowners

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011

Read More: Federal Housing Administration, Fha, Mark Zandi, Underwater Mortgages, Mortgages, Mortgage Crisis, Republicans, Underwater Homeowners, 60 Minutes, Bailouts, Dean Baker, Business News

The House GOP launched an assault Thursday on homeowners who walk away from underwater mortgages, arguing that such foreclosed-on former homeowners ar...

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Short Sale Mortgage Relief: Obama Offers More Help To "Underwater" Homeowners

AP | ALAN ZIBEL | Posted 05.25.2011

Read More: Short Sale, Short Sale Mortgage Relief, Hamp, Mortgage Relief, Making Home Affordable, Short Sale Tax Credit, Short Sale Obama, Homeowner Relief, Underwater Mortgages, Business News

WASHINGTON — The government launched a new effort on Monday to speed up the time-consuming, often-frustrating process of selling your home if you ow...

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'13 Bankers': Great Read And Real Solutions To The Financial Crisis

Daily Kos | Posted 05.25.2011

Read More: Blogger, Wall Street Regulation, Financial Reform, Derivatives, Stock Market, Huffpo, Huffington Post, 13 Bankers, Underwater Mortgages, Simon Johnson, Books News

When the banks failed, stock market tanked, and the TARP money rolled out in the last months of the Bush administration, books on the topic were right...

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Obama To Order Lenders To Cut mortgage Payments For Unemployed

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

This story has been updated More than one year after the Obama administration launched the most ambitious effort to help struggling homeowners since ...

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Bank Of America To Start Reducing Principal On 'Underwater' Mortgages

AP | IEVA M. AUGSTUMS | Posted 05.25.2011

CHARLOTTE, N.C. — Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. The bank,...

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JPMorgan Chase Warns Investors About Underwater Homeowners Walking Away

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosure Crisis, The Financial Fix, Mortgage Modification, Making Home Affordable, Mortgage Walk Away, Mortgage Crisis, Underwater Mortgages, Hamp, Loan Modifications, Financial Crisis, Strategic Defaults, Walking-Away-From-Mortgage, Business News

The nation's second-biggest bank is warning investors that underwater homeowners may walk away from their mortgages. In a Monday filing with the Secu...

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Fannie Mae Seeks $8.4 Billion U.S. Government Aid After 1Q Loss

AP | ALAN ZIBEL | Posted 05.25.2011

Read More: Freddie Mac, Financial Reform Bill, Mortgages, Congress, Delinquencies, Treasury Department, Financial Crisis, Foreclosure, Wall Street, Fannie Mae, Mortgage Crisis, Underwater Mortgages, Business News

WASHINGTON — Fannie Mae has again asked taxpayers for more money – this time $8.4 billion – after reporting another steep loss for t...

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Treasury Getting More Comfortable With Principal Write-Downs -- Sort Of

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Fdic, Mortgage Modifications, Laurie Goodman, Homeowners, Principal Writedowns, Underwater Mortgages, Foreclosure Crisis, Loan Modifications, Principal Cuts, Treasury Department, Financial Crisis, Housing Crisis, Sheila Bair, Negative Equity, Business News

Is the Treasury Department finally going to help homeowners who owe more than their homes are worth get out from underwater? Maybe, maybe not. At a ...

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Obama Administration Floats Idea To Ban All Foreclosures Until Government Review

Bloomberg | Posted 05.25.2011

Read More: Foreclosures, Making Home Affordable, Mortgage Servicers, Permanent Modifications, Loan Mods, Underwater Mortgages, Trial Modifications, Mortgages, Loan Modifications, Principle, Predatory Lending, Treasury, Hamp, Financial Crisis, Foreclosure, Wall Street, Business News

Feb. 25 (Bloomberg) -- The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they ha...

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Obama Announces 'Modest' Foreclosure-Prevention Initiative

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosures, Treasury Department, Foreclosure Crisis, Mortgage Modifications, Middle Class, Mortgage Crisis, Obama Administration, Homeowners, Housing Crisis, Underwater Mortgages, Second-Liens, Mortgages, Loan Modifications, Homeownership, Financial Crisis, Business News

In what senior administration officials repeatedly stressed as a "modest" effort, President Barack Obama announced a $1.5 billion initiative to help f...

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Wall Street and Washington Hope You Are Gullible: Disappoint Them

Janet Tavakoli | Posted 05.25.2011

Read More: Ponzi Scheme, Unemployment, Unemployment Rate, Wall Street, Recession, Underwater Mortgages, Politics News

Taxpayers are asked to believe that over-borrowing by U.S. consumers created a global financial crisis. This myth aids and abets Wall Street. The economy was nearly destroyed because banks borrowed massively.

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Democratic "Accomplishments" Not Nearly Enough

Joseph A. Palermo | Posted 05.25.2011

Read More: Social Security, Gop, Voters, Ben Nelson, Tea Party, Underwater Mortgages, President Barack Obama, Housing Bubble, Congress, Election 2010, Stimulus, Democratic National Committee, Democratic Party, Democrats, Bank Bailout, Congressional Democrats, Medicare, Joe Lieberman, Republicans, 2010 Midterm Elections, Budget Cuts, Lloyd Blankfein, Goldman Sachs, Andrew Cuomo, Civilian Conservation Corps, Home Ownership Loan Corporation, Ccc, Holc, Politics News

Americans understood they got creamed during the final Bush years. They did the right thing and voted in the opposing party. The paltry result of their electoral efforts has led to far more than voter "frustration." They're furious.

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Obama Administration Knew Foreclosure Program Wasn't Working Right, Did Nothing

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

This story has been updated: See below. Even as the Obama administration's signature foreclosure-prevention program has foundered, Treasury Departmen...

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10 Percent Of Homeowners Will Hit Major 'Walk Away' Point By June 2010

New York Times | DAVID STREITFELD | Posted 05.25.2011

Read More: White House, Foreclosure Rates, Making Home Affordable, Anti-Foreclosure Programs, Walk Away, Obama, Homeowners, Real Estate, Housing Crisis, Underwater Mortgages, Mortgages, Credit, Predatory Lending, Wall Street, Foreclosure, Guild, Business News

After three years of plunging real estate values, after the bailouts of the bankers and the revival of their million-dollar bonuses, after the Obama a...

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Tishman Speyer Walked Away From Its Stuyvesant Town, Peter Cooper Village Mortgage. Why Can't You?

AP | RACHEL BECK | Posted 05.25.2011

Read More: Housing Crisis, Mortgages, Tishman Speyer Stuyvesant Town, Peter Cooper Village, Stuyvesant Town, Tishman Speryer, Underwater Mortgages, Business News

NEW YORK — Tishman Speyer Properties walks away from 11,232 Manhattan apartments because it can't pay its mortgage. That's good business. Rick ...

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