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Foreclosure Plan Ill-Suited for Changing Crisis, Report Says
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A Congressional Oversight Panel said the Obama administration foreclosure plan is not addressing the problems of today. It is borrowers with good credit who ave lost their jobs or those with complex mortgages who are not getting help, and this will add to the higher default rates. THese borrowers because they are jobless are not able to afford even the reduced monthly payments. The HAMP program for reducing payments fails to address these problems.
Homeowners facing foreclosure and lack of any meaningful help.
09/29/2008
Lack of any meaningful help to homeowners facing foreclosure upto the Lehman Fannie crisis, and the failure to provide any significant help to homeowners in the $700 billion Sept 2008 bailout plan targeted mostly at freeing up the credit markets.
Grouped Articles
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep Homes
Wall Street Journal 09/29/2008
Card Firms' Loss Tally: Billions of Dollars in Fees
Wall Street Journal 05/22/2009
Consumers Need a Credit Watchdog
BusinessWeek 07/15/2009
Failure to stem foreclosures under the Obama administration continues inaction under Bush administration.
08/24/2007
The failure of the Obama administration to break the cycle of foreclosures begetting falling house prices begetting more foreclosures, further weakening the banks and the economy, with strong action. It continues the missteps of the Bush period and may undo much of the good work in other areas such as stimulus, restructuring the auto industry and new priorities. Inaction here is coupled with inaction in relation to insolvent banks and is likely to prove costly.
Grouped Articles
New York Times 07/17/2011
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
New York Times 05/19/2014
Rising U.S. Foreclosures take on crisis proportions deepening the economic downturn.
08/24/2007
Foreclosures in 2008 hit 16% up from 6% in 2007, and in an accelerating trend if unemployment hits new highs.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
New York Times 05/19/2014
New York Times 05/04/2009
Voices of caution about the economic recovery in the U.S. as underlying problems remain.
04/20/2008
Underlying problems in foreclosure rates, job losses, and toxic assets at banks remain unresolved, even as the stimulus spending plans and the Fed's putting money into the economy fast have helped restore some degree of confidence.
Grouped Articles
New York Times 10/10/2010
The Wage That Meant Middle Class
New York Times 04/20/2008
A Trap in Obama’s Spending Plan
New York Times 12/21/2008
In Japan’s Stagnant Decade, Cautionary Tales for America
New York Times 02/13/2009
New York Times 02/13/2009
New York Times 03/06/2009
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