2 Articles match "America","Freeze","Real Estate"

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Not Enough Rope in Administration's Lifeline' Program
The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., On the downside, however, the temporary freeze or moratorium they are offering lasts for only 30 days. Many homeowners who could not cure the default once it occurred, nor could sell their property outright given the current state of the real estate market in most parts of the country, wait until the 11th hour before 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.
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. At the national level he believes real relief that will stabilize the nation’s housing sector and help it recover will come with the support of such programs as the 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
  • The Best from RealtyTrac 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. At the national level he believes real relief that will stabilize the nation’s housing sector and help it recover will come with the support of such programs as the 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
  • Not Enough Rope in Administration's Lifeline' Program
    The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., On the downside, however, the temporary freeze or moratorium they are offering lasts for only 30 days. Many homeowners who could not cure the default once it occurred, nor could sell their property outright given the current state of the real estate market in most parts of the country, wait until the 11th hour before 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.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE