Bailouts Beneficial? The Frank View

Chairman of the House Financial Services Committee, Barney Frank (D-MA), stated that the Committee is drafting legislation designed to “limit the damage” caused by the increase in foreclosures over the last year. In Chairman Frank’s words: In concept, we propose to tell those who either originated or purchased mortgages that are now extremely unlikely to be repaid that they should write down their existing obligations to a level that represents current market value. After — and only after — t more…

The Houston foreclosure market has seen a lot of turbulence in the past, which ahs resulted in high number of Houston bank foreclosures. But then that was the past! Off late, Houston has shown a tremendous change with the foreclosure filing rates actually falling down, which led to lesser number of bank foreclosures. Experts feel that the market is still unpredictable but homeowners feel that 2008 might bring more relief, government laws and a better interest rate so that people don’t get trapp more…

Rocky Mountain News Colorado's foreclosure rate viewed several ways Rocky Mountain News, CO - 3 hours ago By John Rebchook, Rocky Mountain News (Contact) No one denies the record number of foreclosures in Colorado last year or that the problem isn't going away … more…

Answering Bernanke's call for 'forgiveness' from Bankers… Posted by Michael Sexton on 3/11/2008 at 7:05 AM Posted in Foreclosure A recent speech by Fed. Chairman Ben Bernanke directed bankers to be proactive in their search for solutions to help consumers save their homes from foreclosure…even if it means a reduction of principal and taking a loss. While we all agree that something has to be done to slow the sharply increasing starts of foreclosures in America, asking banks to foot t more…

Tags: foreclosure, home equity loan