Mar 26th 2010 10:29AM
It's as good as official: Home Affordable Modification Program, the year-old government program to save homeowners from foreclosure, is a flop. Today, the Obama administration is set to announce new aid for many homeowners in trouble, who have been beyond help under the limited rules of the old HAMP program. Using $14... Continue Reading »
Feb 22nd 2010 1:45PM
In his latest effort to stop the foreclosure tidal wave, President Obama, flanked by Nevada Senator Harry Reid (D), on Friday announced a Plan B for five states hardest hit by the housing crisis: Nevada, Florida, Michigan, California, and Arizona. The president is directing an additional $1.5 billion in aid to the states,... Continue Reading »
Feb 16th 2010 10:45AM
Earlier this month new census data revealed that the homeownership rate is plummeting as foreclosures swell. That news buried the other bombshell in the latest numbers: vacancy rates are now soaring for rentals. Nationally, 10.7 percent of apartments are now sitting empty. And in apartment buildings? Vacancies are over 13... Continue Reading »
Feb 3rd 2010 8:00AM
With home prices continuing to plummet every month, it may be hard to believe. But it's now officially government policy to keep those home values as high as possible. And Neil Barofsky, the Special Inspector General of the Troubled Asset Relief Program, doesn't like it one bit. In his latest quarterly report to... Continue Reading »
Jan 15th 2010 1:50PM
Watching the CEOs of America's largest banks testifying this week to Congress about their roles in starting The Great Recession with varying levels of contrition and defiance raises the question: exactly who are banks really accountable to in these post-TARP days? Who's the boss? Shareholders? Taxpayers? Customers (whom... Continue Reading »
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