Economists of every political stripe agree that our recent recession and lackluster recovery arose from a collapse of real estate markets in cities all over the country. Homeowners are either stuck in properties worth less than what is owed on them, while other homeowners have just walked away. The result is a landscape where real [...]
tarp
If you don’t know who Harvard Law School Professor Elizabeth Warren is, you should. She’s a plain-speaking champion of the American consumer and a noted authority on bankruptcy law. Jon Stewart recently hosted her as a guest on “The Daily Show.” In addition to being funny, this interview is highly informative. Once you know something [...]
A mortgage lender which received TARP funds, or which voluntarily signed up for President Obama’s HAMP program, must suspend a foreclosure action while a borrower’s mortgage modification application is pending. That’s good news. HAMP is the modification program of the Home Affordable Plan. (HARP is the refinance program.) Lenders can sign up to participate. Banks [...]
