Word: foreclosees
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Dates: during 2000-2009
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The President announced another clean break with the Bush Administration, on foreign policy. Summoning the wisdom of "earlier generations," he said, "They understood that our power alone cannot protect us, nor does it entitle us to do as we please." Take that, Dick Cheney - who exited the scene in a...
You gave a speech in October 2007 at a mortgage securities conference and starting talking about these issues publicly. Why did you stand up and do that? I thought they were going to throw tomatoes at me. We had done some industry roundtables in the spring of 2007 to talk...
As for renegotiating mortgages, a new program goes into effect tomorrow (it was part of the housing bill passed over the summer) that uses up to $300 billion in FHA guarantees to encourage mortgage servicers to move people out of adustable-rate subprime loans into fixed-rate loans with lower...
The goal of this financial finagling: to pocket the difference between the $400,000 loan and the actual $216,000 purchase price, and then simply abandon the home and force the banks to foreclose - sticking them with property worth far less than the amount they had loaned. It was a...
...says. "I figured it was worth the gamble." And a gamble it truly is. The only surefire way to get out of a crushing mortgage is to stop mailing in checks and incite the bank to foreclose. Hence Short Refi Me's sister program, Home Free Me, which walks foreclosees through the process...