Archives by Tag ' Mortgage '
Apr 10, 2008

Gambling establishments know it, amusement parks know it, retailers know it — anything that separates your perception of spending your own money from the reality results in your spending more. And in the case of the American consumer, we are spending consistently more than we earn and more than we could ever pay back.    […]

Feb 27, 2008

Mortgage Meltdown Remedial Legislation Barney Frank has a good idea that will work. Mortgage notes must be reduced without penalty to borrowers, and of course continue the tax exemption for short sale.  Cooperation will be needed by FDIC, Federal Reserve, SEC, FASB, IRS, Controller of Currency and Treasury Department.  I would add the following AFTER […]

Feb 14, 2008

Perusing Credit Suisse’s latest proposal on Capital Hill, which expands Federal guarantees on mortgages, there is good news and bad news. Good that the severity of the problem is becoming more apparent to those with their fingers on the levers of power. Good also that Credit Suisse, while obviously seeking to protect itself, has at […]

Jan 11, 2008

Program Approach to the Way Out: Send this to everyone you know   Baltimore suing Wells Fargo is a wonderful first step in setting the stage for softening the landing on the mortgage meltdown. They are completely correct, and the research behind the standing of governmental entities and agencies to sue the lenders is impeccable. […]

Jan 4, 2008

Thank you all for your comments and suggestions. Very good thinking going on out there. The Garfield Handbooks will be completely ready to start downloading in about 3 weeks. I’ll keep you advised. We will be taking PayPal, Visa and MasterCard. Possibly American Express and Discover as well. We are presented with two issues that are […]

Jan 2, 2008

Mortgage Meltdown: Defending Your Property — A Summary of Strategies This post is for both homeowners and attorneys dealing with existing foreclosure, threatened foreclosure or distressed situations. There are many situations, particularly in government-backed loans, where the lender MUST negotiate to mitigate losses or they are subject to treble damages. This posting is not intended […]

Dec 30, 2007

We the People: Fighting Back At first the U.S. Constitution was written without the Bill of Rights — 10 Amendments that spelled out the specifics of what the founders were looking for when they established the Republic for which we stand. When you read the whole Constitution, which isn’t long, and the Bill of Rights, […]

Dec 23, 2007

  How to Benefit from the Mortgage Meltdown: Tax assessments are heading south along with home valuations — at the moment. Price declines from lower demand and oversupply will continue in many places for years to come.  If the experts are right, the first thing we can already see happening is that revenues from taxes […]

Dec 4, 2007

Mortgage Meltdown: Get Out of Jail Free Card from Paulson In the usual way of floating trial balloons before committing to anything, and without the whole hearted support from any of the many entities and people who have a dog in this fight, Paulson is “outlining” the proposal for “subprime relief.” All information points to […]

Dec 3, 2007

Mortgage Meltdown: Smoke and Mirrors Bailout It is obvious that the “snooty” U.S. bankers, as the Europeans are openly referring to them, still think the world is stupid. The message is out. A massive fraud has ben perpetrated by creation of complex derivative securities that looked better than they were, were rated better than they […]