But BofA’s huge effort to keep consumers in their homes does not necessarily offer safeguards against redefault February 20 2009 – One admittedly unconventional way to understand the Obama Administration’s latest economic rescue attempt is as a potential victory for the beleaguered banking industry. Sure, the plan the President announced on Feb. 18 aims to help 4 million families stay in their homes, offering others the chance to refinance mortgages at lower interest rates. But in another sens
The Mortgage Crisis Blog Mortgage Crisis
President Obama went right to the heart of the economic crisis Wednesday with a plan intended to rescue as many as nine million American families at risk of losing their homes.
The Mortgage Crisis Blog Mortgage Crisis
The Obama Affordability and Stability Plan to fix the housing crisis contains a controversial measure to give bankruptcy judges the power to modify loans called “strip-down”. Many experts say this will ultimately make loans more expensive,cost taxpayers billions, and encourage too many bankruptcies.
The Mortgage Crisis Blog Mortgage Crisis
When President Obama announces his $50 billion foreclosure prevention program in Arizona today, it will represent one of the most ambitious efforts yet to turn around the worst housing crisis in decades.
The Mortgage Crisis Blog Mortgage Crisis
District-based Carlyle Group, a giant private-equity firm, has raised around $1 billion and hopes to add $2 billion more for investments in financial institutions that come up for sale under President Obama’s economic rescue plan, according to people familiar with the company’s plans. The buyout firm will use the money to help with the recapitalization of banks whose balance sheets have been rocked by toxic mortgage assets and are in need of cash, said the sources, who spoke on condition of an
The Mortgage Crisis Blog Mortgage Crisis
