Archive for May 27th, 2009


Wed
27
May

The Making Home Affordable Program Leaves Out Too Many

In early March the Obama Administration announced the Making Home Affordable Program. A major portion of this program deals with mortgage modifications. The modification part of the program is impressive. It brings down the monthly mortgage payments of people facing foreclosure to 31% of their income. Many people who in the past would never have [...]


Wed
27
May

Deceptive and Unlawful Practices Used by Mortgage Lenders and Brokers in Advertising and Selling Subprime Mortgages

From 2000 to 2006 some mortgage lenders and mortgage brokers frequently used deceptive and unlawful tactics when advertising and selling subprime mortgages. They frequently targeted people who had issues with their credit and who could not qualify for a regular mortgage.  They fed on the dream these people had to own their own homes. What [...]