March 2009


Posted on Sunday, March 29, 2009

As I covered on Fox News, America’s Newsroom yesterday afternoon, here are some of the tips I discussed. DON’T PANIC This is not your father’s foreclosure with all of the old stigma attached. If there’s any comfort in numbers, there are millions. And plenty of people who want to help. FIRST...

WARNINGS about Modifications

Posted on Sunday, March 29, 2009

Two things I want to be aure everyone knows. First, under some of the new bailout related plans, the modifications you may enter may only last for five years. After that you're interest rate will adjust back up to whatever the market rate was at the time you made the modification (which is around 5...

More on the Newest Md and Refi Plans (March 2009)

Posted on Saturday, March 7, 2009

Making Homes Affordable • We’re all sinking. This new strategy acknowledges we’re in different boats and offers solutions to fit specific circumstances • Uses FannieMae and FreddieMac which already own or guarantee $5.2 trillion of $12 trillion total home loans in U.S. more than 30 million of...

Some of the Agencies That Have Already Received Bail Out Funds

Posted on Saturday, March 7, 2009

Agency for International Development (USAID) Corporation for National and Community Service (CNCS) Department of Agriculture (USDA) Department of Commerce (DOC) Department of Defense (DOD) Department of Education (ED) Department of Energy (DOE) Department of Health and Human Services (HH...

President Obama's Recovery and Reinvestment Plan

Posted on Saturday, March 7, 2009

THE PRESIDENT'S AMERICAN RECOVERY AND REINVESTMENT PLAN With each passing day, families across America are watching their bills pile up and their savings disappear. President Obama believes that if we do not act quickly, this recession could linger for years – and America could lose the competit...

$75 Billion Strategy (March 2009)

Posted on Friday, March 6, 2009

It seems the administration is beginning to get the ball rolling in the right direction with the latest $75 billion plan. Finally a strategy acknowledging that, although we may have that same sinking feeling, the boats we're all in can be different. To extend the medical metaphors we keep seeing, j...

Bankruptcy "Cram Downs"

Posted on Friday, March 6, 2009

House Democrats have agreed to limitations on the pending bankruptcy empowerments to homeowners who sought modification before filing bankruptcy and people who can't afford to pay their mortgage. Judges will be required to consider whether the bank offered a reasonable restructuring before they can ...

Freddie Mac

Posted on Friday, March 6, 2009

Freddie is launching a new plan to keep tenants and former owners of foreclosed properties in the homes on mon to month leases. The agency is extending its eviction moratorium until April 1st. The plan is called the REO Rental Initiative. ...

Factors Driving Foreclosures Now

Posted on Friday, March 6, 2009

Initially foreclosures were being driven by interest rate resets on exotic subprime mortgage loans and were, therefore, fairly able to predict by looking that the upcoming rate reset dates on those loans. More recently foreclosures became driven by folks growing underwater and electing to walk away ...

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