Bailout Articles

Mortgage 'Fix' Not Helpful to Troubled Homeowners

With one in 10 American mortgage-holders at least one month behind on their payments, the Treasury Department is coming up with yet another "fix" for the Great American Mortgage Crisis - which, not surprisingly, will do little to directly help current mortgage-holders.

Under the Treasury's latest proposal, the government would invest tens of billions of dollars to help lower the interest rate on 30-year mortgages to just 4.5 percent, which would be the lowest rate since the early 1960s.

"Wow!" you may be thinking. "Who cares about the mortgage crisis? ...
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posted by MORTGAGE AUDIT SERVICE December 09, 2008 1:59 AM

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ALERT! Mortgage Relief Programs

A government sponsored program to renegotiate Fannie Mae and Freddie Mac loans is set to take effect December 15th. Fannie and Freddie own or guarantee 31 million mortgages, yet the government cannot or will not, estimate how many people will receive mortgage relief. Rather than pose a simple test based on delinquency, the government program requires homeowner’s measure up to the following standards:

The program is limited to owner occupied homes.
Debtors in bankruptcy are not eligible.
The owner must be at least 3 months delinquent.
The owner cannot ...

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posted by MORTGAGE AUDIT SERVICE November 30, 2008 11:19 PM

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Bailout Won't Stop Foreclosures

Mike Calhoun

President, Center for Responsible Lending

September 22, 2008
The government plan announced by Treasury Secretary Paulson and Fed Chairman Bernanke fails to deal with the root cause of the crisis -- families in foreclosure -- and instead is purely and simply a bailout of the lenders who created this disaster. The bailout will not solve our economic problems because it will do virtually nothing to stop the foreclosure epidemic. Continuing foreclosures will drag down the economy even further.

A truly comprehensive plan must also benefit ordinary, hard-working Americans, the ones who already ...
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posted by MORTGAGE AUDIT SERVICE September 28, 2008 9:42 PM

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