Monthly Archives: January 2009

Foreclosures to Increase?

Fannie and Freddie have called a halt to foreclosure sales, and evictions but that November moratorium is set to expire next week.
Yet to come, more resets of ARM interest rates, as bad loans were still being rolled out into the summer of 2007, and have not hit the 2 or 3 year mark at which they reset.
Interest rates are lower, but, some of these were interest only, and now the payment will reset to include principal, and so go up.
Many borrowers were told, don’t worry, you can re-finance when the interest rate resets, your home value will only go up.
Well, that did not happen, and mortgage money is tighter now than it has been for decades.

Digiprove sealCopyright secured by Digiprove © 2016 Kurt O'Keefe

Chapter 13 Bankruptcy Reform Passes House Judiciary Committee

Per the American Bankruptcy Institute web site: As the House Judiciary Committee approved mortgage cramdown legislation yesterday by a vote of 21-15, Democratic leaders are preparing to wrap it into the omnibus spending package slated to come to the House floor next week, CongressDaily reported today. House Judiciary Chairman John Conyers (D-Mich.) made three changesContinue Reading

One Response to Chapter 13 Bankruptcy Reform Passes House Judiciary Committee

  1. Weekend Both,reason original search animal trust concentration bus track farm acid paper new editor wind private other invite admit judge turn adopt demand mind cheap hell thing transfer test affect land modern farm everyone debt hill chief direct narrow majority population supply upper access weak prisoner regulation make deal have note obtain debate bird over less means sometimes business election strongly majority communication over strategy stage smile clean distinction soft technical certain play talk sequence study belief contribution hard poor son prefer top pound attend afford selection flower branch contact front

Chapter 13 Bankruptcy Reform – Judiciary Committe Vote Today

The House Judiciary Committee will meet at 1 p.m. ET today to mark up (consider) HR 200, the “Helping Families Save Their Homes in Bankruptcy Act.” At the time of the mark up their will be a manager’s amendment offered by Chairman Conyers that will embody the language changes agreed to in the Citigroup discussionsContinue Reading

4 Responses to Chapter 13 Bankruptcy Reform – Judiciary Committe Vote Today

  1. I do accept as true with all of the concepts you’ve presented on your post.

    They’re really convincing and can certainly work.
    Nonetheless, the posts are very quick for newbies. May just you please extend them a bit from
    next time? Thanks for the post.

  2. Wow, this piece of writing is nice, my younger sister is analyzing these kinds of things, so I am going to
    inform her.

  3. Hello! I just wanted to ask if you ever have any problems with hackers?
    My last blog (wordpress) was hacked and I ended up losing
    many months of hard work due to no data backup.

    Do you have any solutions to stop hackers?

  4. Hello there, judt became alert tο your blog through Ԍߋogle, and found that іt’s truly informativе.
    I am gonna watch out foor brussels. I’ll appreciate if you continue
    this in future. A lot oοf people will be benefited from your writing.
    Cheers!

Chapter 13 Bankruptcy Reform – Bankers Oppose

Stunning news, the bailed out, whose appetite, and need, for our money knows no bounds, oppose Chapter 13 bankruptcy reform that would let homeowners avoid foreclosure and keep their homes by allowing bankruptcy courts to re-write the terms of their mortgages. It is time to yell (OK, maybe speak) to our representatives, that they haveContinue Reading

Cram Down Reform Deleted From Stimulus Bill by White House Action

Chapter 13 reform maybe dropped from stimulus package in the Senate. will check source for below, for now, here it is: Posted: 01/22/09 05:23 PM [ET] Liberal Democratic lawmakers railed Thursday against the tactical decision of President Obama and House leaders to leave a bankruptcy “cram-down” provision out of the economic stimulus package. The provisionContinue Reading

One Response to Cram Down Reform Deleted From Stimulus Bill by White House Action

Loan Modification to Avoid Foreclosure

You want to keep your house, avoid foreclosure, cannot afford the payments after that teaser rate expired, and you make a deal changing the terms. Watch the fine print! Even the Fannie Mae and Freddi Mac mortgage loan modification forms require you to waive your rights against the mortgage company. What rights? All, of course,Continue Reading

One Response to Loan Modification to Avoid Foreclosure

Bailout

Why not have fun, just because the Government is rescuing the banks who made horrible loans, with our money, does not mean we cannot laugh. You have seen it in the papers and watched it on the news; now is your chance to lead the bailout and save the economy. Help guide U.S. Treasury SecretaryContinue Reading