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Archive for March, 2008

A Common Sense Mortgage Solution From An Arkansas Attorney »

My friend Kathy Cruz is one of the smartest bankruptcy and consumer law attorneys I know. If this country ever needed a female lawyer from Hot Springs Arkansas as its president, I recommend Kathy for the job. Kathy was telling me a story about a lawyer who was having a hard time trying [...]

Fed Chief Calls for Mortgage Companies to Reduce Balances Voluntarily »

Helicopter Ben is suggesting that mortgage companies voluntarily reduce principal balances on mortgages as a response to the deepening foreclosure crisis.
His suggestion goes further than the bankruptcy legislation pending now, and endorsed repeatedly on this and other blogs and websites, and even USA Today, in that the legislation would allow [...]

Vulture Funds Buy Residential Mortgages »

For some investors the misery of foreclosure may be a new profit center.  Money managers for some major investment groups are buying up entire home loan portfolios.  Of particular interest seem to be loans that are in default.  If the discount is steep enough, there is obviously money to be made.  This type of company is [...]

Proverbs 28:3 »

A rich man who oppresses the poor is like a devastating rain that leaves no food. Proverbs 28:3. As I was surfing through my Bible the other day I ran across this passage. The immediate picture that came to mind was the mortgage crises that is currently taking place. I continue to be overwhelmed [...]