AP Poll: Mortgage Payments Worry Many

One in seven mortgage holders worry they may soon fail to make their monthly payments and even more fret that their home's value is shrinking, according to a poll showing widespread stress from the nation's housing crisis.

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University of Arizona law school professor, says that it's in the homeowners' best financial interest to stiff their lenders and that it's not immoral to do so

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What if people who lost their homes to foreclosure could rent their houses back from the lenders that repossessed them? That idea, which has lingered on the outskirts of the housing-crisis debate, got a boost last week when the federal housing agency Fannie Mae said it would star …

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Everything is bright and sunny again, unless you have to work for a living. The news here is less good. The economy lost more than 260,000 jobs in September, with the unemployment rate reaching 9.8 percent.

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On a hot June day two years ago real-estate agent Cecily Tippery turned a key and entered an empty house.

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How to fix the economy

I can not tell a lie - I got this in an email. It does make you think This is from an article in the St. Petersburg Times Newspaper on Sunday. Dear Mr. President,

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Of course, if homeowners could, like corporations, declare bankruptcy and allow judges to modify their contracts -- a process called cramdown (another hilarious econo-term) -- then they would arguably be able to pay off their debts, stay in their homes and make their lenders happ …

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Democratic Panel Chief Resists Move to Subpoena 'VIP' Records; Documents Suggest He May Have Benefited From Program

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NEW YORK (Reuters) - U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by renting their home instead, sources familiar with the administration's thinking said on Tuesday.

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Barney Frank on the Daily Show: "I was very critical of this effort to make people into homeowners when they couldn't afford it."

Congressman Barney Frank in an Interview with John Stewart on the Daily Show last night said he had opposed using Fannie Mae and Freddie mac as vehicle for home ownership for low income buyers.

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On April 30th, the Senate voted down a proposal by Sen. Dick Durbin a top Democrat to allow bankruptcy judges to lower the monthly mortgage payments of homeowners trapped by exploding interest rates.

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Fannie Mae reported yesterday that it lost $23.2 billion in the first three months of the year as mortgage defaults increasingly spread from risky loans to the far-larger portfolio of loans to borrowers who have been considered safe.

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Today, the Center for Public Integrity releases the results of its investigation into the housing crisis, which showed that investment banks, some of which were recipients of billions of taxpayer dollars through the federal bailout, made major investments in subprime lending.

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More lawyers? C'mon. Be gentlemen & ladies and focus on cleaning up the mess. Courts are clogged with senseless drivel already. Let Judge Judy decide this one.

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On Tuesday, the White House reiterated the Obama administration's support of a tool which consumer advocates say is essential to fixing the economy.

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TIME Magazine Prize-Winning Photos: The Housing Crisis

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The Psychology & Politics of Foreclosure

Losing a home to foreclosure is something most people never forget. It's an event likely to stay with you for the rest of your life. It's certainly not something most people think will happen to them… until it does.

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Beware Our Government's Advice on Loan Modifications!

On the US Treasury's Website that is dedicated to helping homeowners it says:

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Here is a Summary: Tucker Carlson claimed that the mortgage crisis "emanated from Fannie Mae and Freddie Mac," and asserted that one of the "reasons this crisis began ...

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What was the problem that didn't exist? It was a national problem of unaffordable housing.

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''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.

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40% of those at risk of eviction because of foreclosure are renters. They haven't done anything to contribute to the housing crisis, but banks are going after them to clear out properties even if it means the places will be gutted and destroyed. Great pics.

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Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation's economic crisis.

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The administration, launching what it calls the "Making Home Affordable" initiative, said that borrowers will have to provide their most recent tax return and two pay stubs, as well as an "affidavit of financial hardship" to qualify for the $75 billion loan modification program,  …

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Yesterday, Think Proggress asked Paul Begala for a response to Rick Santelli's ridulous -and inaccurate-rant about Obama's mortgage plan. Begala called it pathetic and blasted Santelli, a former derivative trader, for calling people who lost their homes "losers."

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When Uzbek hot-dog vendor Danil Kasimov thought of America, he thought of the place portrayed in movies — a Land of Plenty where anyone's dreams could come true.

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