President
Obama announced a broad plan Wednesday to spend $75 billion
to help homeowners pay mortgages and that could inject up to $200
billion more to Fannie Mae and Freddie Mac to...... read
more
Ron
Paul on Mortgage Bailout &
Financial Armageddon
Larry
Kudlow: Let me just ask you, talking about Armageddon, are you
an economic pessimist about the future of America (Larry’s
sick of all
the economic pessimism)?
- Ron Paul: No, I’m an optimist if
we did the right things, if we
restrained the FED from creating money out of thin air and causing all
the malinvestment and encouraging Big Government spending, see we
can’t
have the spending if we don’t have the FED to bail the
politicians out
by monetizing the debt.
Washington Post Staff Writers
Saturday, February 14, 2009;
Page D01
As President Obama prepares to announce a
program next week to stem the
soaring rate of foreclosures, key Democratic lawmakers say they are
planning to craft a housing bill that would give the administration the
authority it needs to carry out several elements of the initiative.
Obama will unveil the plan Wednesday in Arizona..... read more
Fact Sheet: Helping American Families Keep Their Homes
President
Bush Announces Private-Sector Plan To Help Struggling Homeowners, Calls
On Congress To Join Administration In Acting
Today, President Bush outlined steps
the Administration is
taking to help American homeowners and called on Congress to join him
in delivering relief to homeowners in need. In
August, President Bush announced measures to help many struggling
homeowners, including directing Treasury Secretary ....read
more
President
Bush in his 2008 State of the Union Speech:
The Following is a
statement by Secretary Henry M. Paulson, Jr. on the announcement of the
Hope Now program:
Washington,
DC--Thank you,
Secretary Jackson, for being here today. And thank you to everyone here
today with one common objective – helping homeowners stay in
their
homes....(Read more)
White
House Press Release on Hope Now
Washington,
DC--Today,
President Bush outlined steps the Administration is taking to help
American homeowners and called on Congress to join him in delivering
relief to homeowners in need....(Read more)
CNNMoney.com
NEW YORK
(CNNMoney.com) -- Hope Now, the foreclosure prevention coalition put
together with the Bush administration's support, claims dramatic
success in helping at-risk mortgage borrowers stay in their homes....(Read more)
NEW
YORK (CNNMoney.com) --
Mortgage lenders have helped nearly 2.5 million troubled homeowners
avoid foreclosure since the mortgage meltdown began in the summer of
2007....(Read more)
NEW
YORK (CNNMoney.com) --
Citigroup says it will expand its foreclosure prevention efforts and
try to keep 130,000 troubled borrowers with $20 billion in mortgages in
their homes....(Read more)
USA
Today
A mortgage
industry alliance plans to announce
Tuesday that it's reached agreement with lenders and loan servicers to
develop a standardized process for helping homeowners at risk of
foreclosure....(Read more)
Shocking Video, Revealing
Democrats in their own words Covering up
the Fannie Mae, Freddie Mac Scam that caused Economic Crisis!!!
Explosive Video, Fannie Mae
CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie
Mae
McCain Tried To Reform Fannie
Mae But Stopped By Dems
One
Million Homes Lost and Counting: How to End the Foreclosure Crisis Now
The
government should be working to protect homeowners, not the lenders
that got us into this mess.
Over one million U.S. homeowners have already lost their homes due to
foreclosures since the mortgage crisis began last summer. Another one
million homeowners are 90 days past due .... read
more
(07-31) 04:00 PDT
Washington -
--
The giant housing rescue plan President Bush signed Wednesday might
help stanch the bleeding in the housing market, but experts on both
sides of the political divide worry that it is, at best, only an
emergency step. ... read
more
Freddie Mac
Doubles Financial Incentives to Servicers Who Help Borrowers Avoid
Foreclosure
Freddie
Mac
today told mortgage servicers it was doubling the amount of money it
pays for
each workout that keeps a delinquent borrower with a Freddie Mac-owned
mortgage out of foreclosure. One of the nation's largest investors in
residential mortgages, Freddie
Mac also announced it will start reimbursing servicers for the cost of
door-to-door outreach programs, .... read
more
Inside Congress's
housing repair kit
By Kimberly Blanton Globe
Staff / July 31, 2008
Legislation
offers tax breaks, money to fight blight, mortgage aid, and more
disclosure by lenders.
The sweeping housing legislation signed yesterday by President Bush
provides a tax credit for first-time home buyers, ... read
more
Governor Lynch Signs Law Aimed At
Protecting Consumers From ...
Politicker
-
New York,NY,USA
Lynch signed a law
aimed at protecting homeowners from losing their homes - and the
valuable equity they have built into their homes - to foreclosure
scams. ...read more
(04-13)
04:00 PDT Washington
--
The country's two largest sources of mortgage money have a blunt
warning for anyone thinking about joining the growing "walkaway" trend,
where homeowners stop making payments and months later send the house
keys back to their lender: You will feel the pain. ...read
more
Corporate Homebuilder
Bailout in Senate
Foreclosure “Prevention” Bill
LIUNA
Steps-Up Efforts to Expose Multi-Billion Dollar Corporate Homebuilder
Bailout in Senate Foreclosure “Prevention” Bill
Union Starts Drive-Time
Radio Ads: “Ask the Senate: What do Handouts for Corporations
Have to
Do with Preventing Foreclosure?” Washington, D.C. (April 4,
2008) .....read more
Comparing Income Taxes:
Clinton vs. Bush Mark J. Perry, Ph.D.
seekingalpha.com
Despite
all of the political
rhetoric about "tax cuts for the rich" and the "middle class squeeze,"
a recent analysis by the Tax Foundation shows that federal income taxes
have fallen for groups at all income levels.... read more
Daily Pilot -
Costa Mesa,CA,USA
with
Senate Bill 2636, “Foreclosure Prevention
Act of
2008.” Reid thinks these people just did not understand what
they were
signing. ...read more
Five New Tax Breaks, Law Changes
You Must Consider
This Year
FOXBusiness -
USA
Homeowners
who went through foreclosure in 2007 have Congress
to thank for a valuable new benefit. Before the Mortgage Forgiveness
Debt Relief Act of 2007, ... read
more
Arkansas
Democrat Gazette - AR,USA
Arkansas law, along with many other states,
allows for
judicial and nonjudicial foreclosure. In judicial foreclosures,
the sale of the property is ...read more
By Thomas O.
Moens(Thomas O. Moens) Foreclosure
is much more time consuming and expensive. The lender owns your
property after foreclosure, and is responsible for
maintenance, taxes, and most importantly, selling the property. So,
accepting a short sale is sort of a "bird ... read more
By
gweston
The
defaulting homeowner, however, can argue that the 2nd lender was at
least in part (if not mostly or entirely) for the foreclosure.
Is the 2nd lender known for seeking out and writing mortgages based on
inflated appraisals? ...read more
Gloucester
County Times - NJ.com -
Woodbury,NJ,USA
The Mortgage Forgiveness Debt
Relief Act of 2007 should reduce the number of foreclosures,
Andrews said. If a home drops in value, and the owner tries to ...
....read more
President Bush Signs Foreclosure
Tax Relief Bill Into Law
By
LKB
Do
you think this includes short sales where the seller is liable for
taxes on the difference of the sale price vs loan?
http://www.realestatewebmasters.com/...tes/3798/show/ Thanks, ...more
Troubled
homeowners get a triple-whammy: Foreclosure then fees then taxes
Reader
Comments:
...my
Credit report to show these mortgage loans were included in my
Bankruptcy, but the Bank would only change the amount of the mortgage's
owed and once they claimed I owed them a total of 6 Million dollars
(actually more like $150,000) which kept me from getting Credit
& Employment for 10 years! I've heard a lot about the Banks
don't want your house. Bull....! Do the homework! They get DOUBLE
judgments (which they get to add to their "Assets" to borrow money from
the Fed with,...read
more
Minneapolis Star Tribune (subscription) -
Minneapolis,MN,USA
IRS.gov includes a worksheet to
help homeowners determine whether they are eligible for any foreclosure-related tax relief. For those
who find they owe ...
...read more
....
If someone lends you $200,000 and then later forgives the debt, you've
made money. The income tax laws treat the forgiven debt as taxable
income. ...read
more
House
Bill 947: ''An act to require that notice of sale in foreclosure
proceedings be sent to certain tenants residing in the property to be
sold, to allow those tenants after receiving the notice to terminate
the rental agreement upon ... read more
Unwary
borrowers snared in U.S. housing "bloodbath"
By
Emily Kaiser
CHICAGO
(Reuters)
....Gorney, director of loss mitigation at Freedom
Foreclosure
Prevention Services in Mesa, Arizona, receives more
than 300 applications a month from people facing foreclosure, and has
little faith in forecasters who say the worst of the housing market
downturn is over.
"It's going to be a bloodbath this year,"
she said.
Many of her clients -- homeowners who come
for help
renegotiating mortgage terms or to work out deals to avoid foreclosure
--...read more
