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Tag: Obama Administration

Real Estate Review: Mortgage Rates Set New Low, Homeowners Get More Time, Banks Get Blame and “Reverse Foreclosure”

Mortgage Rates Set Fresh 2011 Low After Jobs Report Fixed rate home mortgage loans dropped for the eighth straight week to a new low for 2011 amid concerns of another economic slowdown this year, according to data from Freddie Mac and a report by The Wall Street Journal. The 30-year fixed-rate mortgage averaged 4.49%, down from 4.55% last week and […]

Now We Know: Why Obama's Loan Modification Program Failed Homeowners – Oppenheim Observes

Wed Aug 11, 2010 by on Loan Modification & Roy Oppenheim

This past weekend, I was in our Nation’s capital. It is always interesting to see things from the inside looking out, as opposed to from the outside looking in. It is like being in a house of mirrors. One thing is apparent: the Beltway economy is not suffering like places such as Florida, Nevada, and Detroit. As a result, our […]

The New Normal… NYT Reports: Expect Four Million More Foreclosures Despite Obama’s Mortgage Modification Policy

In today’s New York Times (10/9/09) the lead story in the Business section is: “In Trial Phase, Mortgage Bills Fall for 500,000. Is that supposed to be good news or news at all? I am not sure. I guess it depends on whether you think the glass is half full or half empty. The reality is that by now the […]

Roy Oppenheim on Obama’s Loan Modification Programs and What it Means to Florida Real Estate

Tue Aug 25, 2009 by on Florida Real Estate

Once in Default: Always in Default Borrowers stay in default … Regardless of Obama Modification Programs New Study Shows As we have previously discussed about Florida real estate, the whole premise of the Obama Administration’s housing bail out response was to provide, Florida real estate borrowers, the opportunity to modify their loans and get back on track. Based on prior […]

White House is Prodding Mortgage Servicers to Modify More Loans

Mon Jul 13, 2009 by on Florida Foreclosures

It looks like mortgage servicers are going to woodshed for deliberately not modifying mortgages and allowing foreclosures to sore! its about time! Here is the letter that Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan sent to 25 mortgage-servicing firms last week: “We are writing to you as a participant in the Administration’s Making Home Affordable […]