In a speech given at the Brookings Institution, Brian Moynihan, CEO at Bank of America, said “We need to look hard at some of the old assumptions and ask the question is homeownership the right solution for everyone?” Moynihan went on to cite the Federal Housing Administration (FHA) as an example of what is wrong […]
FHA Loans Immediately Put Borrowers Into A Negative Equity Position
December 15, 2012 By Leave a Comment
Total 2011 Foreclosure Filings Reach 2.7 Million – Expect 2012 To Be Worse
January 13, 2012 By Leave a Comment
Fed Chairman Ben Bernanke must be talking to himself by now. Despite driving interest rates to zero and the expenditure of trillions of dollars to prop up the housing market, home prices declined again in 2011. The most recent data on foreclosure activity makes it clear that the Fed’s efforts to date have accomplished next […]
2010 Banking Failures By State – Why 2011 Should Look The Same
March 26, 2011 By Leave a Comment
The most severe financial crisis since the 1930’s resulted in a nationwide drop in real estate values and the largest number of banking failures since 1992. The huge buildup of debt that fueled the bubble in real estate prices has resulted in a record number of mortgage defaults and foreclosures. During 2010, a total of […]