2 Articles match "America","Freeze","Homes"

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Not Enough Rope in Administration's Lifeline' Program
Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Big Ben Is Finally Talking Foreclosures
Speaking at the Independent Community Bankers of America Convention in Orlando, Bernanke noted that 1.5 Declines in short-term interest rates and initiatives involving rate freezes will reduce the impact somewhat, but interest rate resets will nevertheless impose stress on many households,” Bernanke noted. And the fact that the number of vacant homes had risen to more than 2 million units at year-end 2007. Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
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  • Not Enough Rope in Administration's Lifeline' Program
    Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Big Ben Is Finally Talking Foreclosures
    Speaking at the Independent Community Bankers of America Convention in Orlando, Bernanke noted that 1.5 Declines in short-term interest rates and initiatives involving rate freezes will reduce the impact somewhat, but interest rate resets will nevertheless impose stress on many households,” Bernanke noted. And the fact that the number of vacant homes had risen to more than 2 million units at year-end 2007. Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE