Tag Archive | "bailout"
HUD Bailout Scam, Updated
The Buffalo News reports that, An Internet Web site that looks like a federal Housing and Urban Development operation providing financial help for homeowners facing foreclosure actually is a “phishing scam” seeking personal information, HUD officials said Friday. Also, see below for the official HUD statement referencing the scam: The U.S. Department of Housing and Urban Development today [...]
Continue reading...News From the St. Louis Beacon – Effect of Fed's buying $600 billion in mortgages unclear, say local housing experts
Monday, December 1, 2008
By Mary Delach Leonard, St. Louis Beacon staff The real effect of Tuesday’s announcement that the Federal Reserve would buy up to $600 billion in mortgages and mortgage-backed securities is not yet clear for troubled homeowners facing foreclosure, say two local nonprofit housing counselors. “It could be a breakthrough for homeowners. Right now, loans residing in investor-owned [...]
Continue reading...New from the St. Louis Beacon – The bailout hasn't trickled down to Main Street where the foreclosure crisis is far from over
Friday, October 17, 2008
October 17, 2008 By Mary Delach Leonard, St. Louis Beacon Three alarming facts about failing home loans are worrying Karen Wallensak of Catholic Charities who works with troubled homeowners on the front lines of the foreclosure crisis. Wallensak, executive director of the agency’s Housing Resource Center in St. Louis, speaks in a calm, reassuring voice even when [...]
Continue reading...First draft of $700 billion bailout offers no concrete solution for troubled homeowners
Tuesday, September 23, 2008
September 23, 2008 Over the past two weeks, market-rattling changes on Wall Street such as Lehman Brothers’ bankruptcy and the government’s $85 billion rescue of AIG shook investor confidence and saw stocks at their lowest since trading resumed post 9/11. Last week, Treasury Secretary Henry Paulson proposed a $700 billion bank bailout to revive the economy during what [...]
Continue reading...The Devil in the Details: what Congress adds to bailout proposal could make the difference for homeowners
Tuesday, September 23, 2008
September 23, 2008 Over the weekend, Treasury Secretary Henry Paulson could be seen on TV screens everywhere, trying to sell the American public on the $700 billion bailout plan he’s given to Congress. So how does this bill affect people struggling to pay their mortgage, taxpayers, and everyone feeling the “credit crunch”? What is the bailout [...]
Continue reading...How will mergers and government bailouts affect mortgage holders?
Monday, September 15, 2008
September 15, 2008 Lehman Brothers filed for bankruptcy. Bank of America bought Merrill Lynch. AIG teeters on disaster. We know that the news isn’t good, but how bad will it get for homeowners as this crisis continues its downward spiral? According to this article by MSNBC.com, industry professionals don’t foresee a turn around in the near future, but caution [...]
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Tuesday, March 17, 2009
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