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Posts Tagged ‘subprime mortgage’

Housing Prices Are Falling With No End in Sight

Does it Make Financial Sense to Try and Save Your Home?

These days many homeowners are justifiably very nervous about their homes.

Mortgage pillars Fannie Mae and Freddie Mac are on the verge of financial meltdown and Federal Bailout.

Transportation, energy, food costs, and unemployment are rising.

More people out of work is going to put even more pressure on people being able to pay their mortgages. That will lead to lead to more foreclosures, and More People Walking Away From Their Homes!

Many experts believe housing prices are not even close to reaching their bottom, including Alan Greenspan Former Federal Reserve Chairman.

While it is a gut wrenching decision, sometimes the best thing to do is walk away and start over.

Fed Plans New Rules to Protect New Homebuyers

WASHINGTON (AP) – In an effort to prevent a repeat of the current mortgage mess, Federal Reserve chairman Ben Bernanke says the Fed next week will issue new rules aimed at protecting future homebuyers from dubious lending practices. Bernanke also says the Fed may give squeezed Wall Street firms more time to tap the central bank’s emergency loan program.

Hundreds Indicted in Mortgage Fraud

WASHINGTON – Federal authorities announced Thursday that more than 400 real estate industry players have been indicted since March — including dozens over the past two days — in nationwide crackdown on mortgage fraud that has contributed to the country’s housing crisis.