SEPTEMBER 2008

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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Top Ten Ways Mortgage Lenders Overcharge Homeowners

A survey by the Justice & Integrity Project's National Mortgage Complaint Center reveals the top ten mortgage fee abuses. The problem: in increasing numbers, mortgage lenders and mortgage brokers have overcharged the average U.S. homeowner. The Justice & Integrity Project's National Mortgage Complaint Center discovered the top ten mortgage fee abuses:

1. Yield Spread Premiums: Yield Spread Premiums were designed to increase the borrower's interest rate so that the lender/mortgage broker can compensate themselves for origination fees and other normal mortgage fees with little or no out of pocket cost ...
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posted by MORTGAGE AUDIT SERVICE September 28, 2008 8:00 PM

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