Bernanke Wants to Bailout Bad Borrowers

Federal Reserve Chairman Ben Bernanke said Wednesday that the embattled housing market has crippled the economy, and at-risk homeowners need a bailout – even if they knew they couldn’t afford their home in the first place.
“Some borrowers presumably knew what they were getting into,” Bernanke said before the House Financial Services Committee. “But from a [...]

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$275 Billion Bailout for Homeowners

Think that $275 Billion will be enough? THINK AGAIN. Let’s review Obama’s figure inflating. Even before the election, Obama had a hard time getting numbers straight. Obama intends to tax the wealthy (those making over $250,000). Obviously, that was revised to those making over $200,000 and then those making over [...]

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Bailouts are a CRIME

The bailouts is just another way for the government to steal from the citizens. It causes nothing but more problems for the economy. People who have homes in foreclosure are trying to work with the banks to help their situation, either by refinancing or some other means. However, since the banks have [...]

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7 Reasons to Pay Extra on Your Mortgage

Paying extra torwards your principle balance on your mortgage can be quite a blessing. However, it entirely depends on your individual situation, your goals, and your financial discipline and attitude. It is not for everyone, but it will certainly bring peace of mind. Here are some reasons that I would recommend that [...]

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Bailout Borrowers Still Default

Here’s the first of many signs that show that the bailouts are not working: More than half of delinquent homeowners whose mortgages were modified earlier this year ended up re defaulting within six months.
Some 53% of borrowers with loans modified in the first three months of 2008 and 51% of those with loans modified [...]

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Foreclosures Soar 76% to Record High

A record 1.35 million homes were in foreclosure in the third quarter, driving the foreclosure rate up to 2.97%, the Mortgage Bankers Association said Friday. That’s a 76% increase from a year ago, according to the group’s National Delinquency Survey. At the same time, the number of homeowners falling behind on their mortgages [...]

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Treasury Considers Plan for 4.5% Mortgage Rate

As if the recent $8 Trillion in bailouts is not enough to screw over the American people, the Treasury Department has the gall to consider a lobbied plan that would systematically have mortgage rates reduced to 4.5% or lower. ARE THEY INSANE???
Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed [...]

Forrest Gump Explains Mortgage Backed Securities

Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody [...]

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Paying Off Your Mortgage Early

Some financial “experts” say that you should have the biggest mortgage you can get, and for the longest time period you can get, and never pay any additional principle. The reason, because of the low interest rate in comparison to the yield that you could get by investing in the stock market. Are they [...]

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