Mortgage News 2 You

Goldman Sachs to Blame for Every Market Crash in the Last Decade?

A Rolling Stone magazine expose has recently declared Goldman Sachs to blame for every market crash since 1920.

Matt Taibbi, author of the article “The Great American Bubble Machine: How Goldman Sachs has engineered every major market manipulation since the Great Depression,” holds nothing back from his opinion of the investment bank. “The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” he says. Read the rest of this entry »

Housing Rescue Program Expands to Cover More Borrowers

Frustrated borrowers who have yet to benefit from the Obama administration housing rescue plan may be able to benefit from a new expansion to the program. The number of borrowers eligible for refinancing is being increased by the changes to the program.

Borrowers with mortgages worth 125% of their home’s value or less will now be eligible for refinancing under these new qualifications. Previously, mortgages worth 105% or less were only eligible. Read the rest of this entry »

Consumer Protection Bill Sent to Congress

President Obama’s new consumer protection bill was sent to Congress today. The president says that the bill, which would create a Consumer Financial Protection Agency, would help protect consumers from corrupt business practices. It would do so by moving banks and non-banks onto the same level, enforcing the same rules between them all–allowing for fairness and more competition.

Mortgages would be monitored under the new agency, as well as payday loan providers, credit cards, and banking overdraft fees. Read the rest of this entry »

Benefits of Mortgage Mediation

In at least one instance, mortgage mediation programs have helped half of participants or more remain in their homes.

According to the Center for American Progress, these kinds of programs help homeowners by making them meet with banks–as well as holding the banks accountable for meeting with them. Through this interaction, participants become more human rather than just a case within the pile, and both parties can look over all available options and discuss which ones will work best for both parties. Read the rest of this entry »

Red Roof Inn Defaults on Mortgages

Economy lodging company Red Roof Inns, Inc. has decided to restructure their finances after defaulting on $367 million in mortgage debt. The strangest thing about the situation is that of the 130 properties that the debt is connected with, none of them seem to be actual Red Roof Inns.

Perhaps these company-owned properties are sites of future ins–or maybe they’re completely private for corporate use. Seeing that they’re legally separated from the Red Roof Inn franchise, the latter is more likely. Read the rest of this entry »

Looking beyond rates

Homeowner shouldn’t wait to refinance

Getting your 1040 to Uncle Sam

Taxpayers abroad can limit U.S. taxes

Fame & Fortune: Martina McBride