Mortgage Relief Project

RICHARD KOO: Get Ready For Two More Years Of Housing Market Nightmare

Posted on June 22, 2011 by project

Gregory White | Jun. 22, 2011, 8:49 AM The U.S. should expect home prices to continue to decline through 2013, and that will have a devastating effect on the balance sheets of consumers, according to Nomura’s Richard Koo. Koo highlights … Continue reading →

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Backlog of Cases Gives a Reprieve on Foreclosures

Posted on June 19, 2011 by project

By DAVID STREITFELD Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places. In New York State, it would take lenders 62 years at their current pace, the longest time frame in … Continue reading →

The Treasury Department Will Withhold Subsidies To The Three Largest Mortage Servicers

Posted on June 12, 2011 by project

Paul Kiel, ProPublica | Jun. 12, 2011, The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. The administration has … Continue reading →

Encouraging statistics on foreclosures only masking bad news

Posted on June 1, 2011 by project

The U.S. housing market has been hit hard over and over again since the subprime mortgage bubble burst. Several years later, things have yet to look up. (See: The Housing Market Sucks — And Could Take Years to Correct) Today … Continue reading →