Hi, federal government. Pay my mortgage, please.
Hey, is this not Freddie Mac’s strategy? Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It’s another sign that the...
View ArticleWhite House to bailout underwater mortgages?
You know, sometimes Paul doesn’t want to be paid, if it means robbing Peter. Today’s hot rumor comes from James Pethokoukis: essentially, the White House (which is becoming increasingly frantic about...
View Article28.4% of mortgages underwater.
Note that this article doesn’t quite get the original report right, sort-of kind-of thank goodness; it confuses mortgage holders with homeowners when reporting the percentage of underwater mortgages...
View ArticleThis WSJ article on deficiency lawsuits leaves me curiously unsympathetic.
I mean, the basic concept behind the practice is worrisome enough: banks foreclose on a property when it goes into default, discover that the foreclosure sale doesn’t recoup their losses, so they get a...
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