Posts tagged housing crisis

• Salon: Why Loan Modification Scams are Booming

  Paul Kiesel | September 24, 2009 6:28 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  FYI: Here's a link to a blog I wrote a year ago that portends what's being described in the article below. From Salon.com: During the go-go years of the real estate bubble, shady mortgage brokers...

• NYT: The Most "Underwater" Community in America

  Paul Kiesel | November 11, 2008 1:37 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  The New York Times published an article today on a struggling California community, Mountain House, where 90% of homeowners owe more money on their mortgages than the their houses are worth: it has...

• FBI: Beware of Loan Modification Scams

  Paul Kiesel | October 28, 2008 4:08 PM | 28 CommentsLos Angeles, CA Category: Miscellaneous
  

  According to the Justice Department, San Joaquin Valley has been a hotbed for foreclosure modification scams, as cities like Stockton, Modesto and Merced top the foreclosure rankings among cities...

• Two Foreclosure Relief Plans that Don't Require a Government Bailout?

  Paul Kiesel | October 27, 2008 5:22 PM | 8 CommentsLos Angeles, CA Category: Miscellaneous
  

  As noted last week, the FDIC and Congress both have foreclosure bailout plan proposals that would require the government to buy under water mortgages and place those borrowers into government backed...

• Washington Post: Government and Wall Street Grapple with Finding a Foreclosure Fix

  Paul Kiesel | October 27, 2008 4:39 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  Below is an Associated Press article from Sunday's (10/26) Washington Post. It's a very well written analysis as to why the government and Wall Street have been having such a hard time coming to...

• California Law Puts the Brakes on Foreclosures... At Least for Now

  Paul Kiesel | October 24, 2008 7:05 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  When a new state law went into effect over the latter part of the summer, California immediately saw a drop in loan default notices, which has also proven to show a drop in foreclosure numbers. In...

• Greenspan on the Financial Crisis: "I Made a Mistake..."

  Paul Kiesel | October 24, 2008 3:56 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  The former Federal Reserve chairman Alan Greenspan, who was once considered by many economists and government officials to be an infallible maestro of the financial system, was hammered yesterday on...

• Discontent at Mortgage Bankers Association Convention as a Protester Attempts to Arrest Karl Rove

  Paul Kiesel | October 22, 2008 4:31 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  From the New York Times: SAN FRANCISCO — It was just another business-as-usual day at the annual convention of the nation’s mortgage bankers: a few panels, a few presentations and an...

• Senator Barack Obama Discusses the Problems with Senator McCain's Mortgage Plan

  Paul Kiesel | October 21, 2008 5:38 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  In Tampa, Florida yesterday, Senator Barack Obama addressed an estimated crowd of 10,000 supporters about his plans to revitalize a sagging economy. He illustrated his plan to fix the foreclosure...

• Renters Caught in Foreclosure Trap While Federal Government Idly Watches

  Paul Kiesel | October 16, 2008 8:51 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Below is an interesting Associated Press story from today on the effects the mortgage crisis has had on renters. I wrote a blog about this back in May which portends the severity of this situation...