Michigan attorneys can help prevent foreclosure of your home.
As the sub-prime mortgage crisis intensifies, foreclosures increase, and mortgage companies try to take houses even when the homeowner has the money to pay!
One Detroit homeowner could not get the mortgage company foreclosing on her to take the full amount she owed.  They STILL tried to evict [...]

Two names all over the news, Fannie Mae and Freddie Mac.  We are about to be put on the hook for billions of dollars to keep them afloat.
This is necessary to keep the economy from failing, we are told.
I am sure it has nothing to do with the tens of millions of dollars Fannie and [...]

With new rules that highlight what has been going on, by what will now be prohibited, the Federal Reserve Board announced new mortgage regulations that will go into effect next year.
Mortgage companies will now be prohibited from extending credit without regard to the borrower’s ability to repay.
Now that foreclosures are at record levels, largely due [...]

In as clear a case as you will find of closing the barn door after the horses get out, Fed chief Bernanke now proposes prohibiting lenders from giving mortgages without proof of income, among other mortgage reforms.
As the lenders threw money out the window the early part of this decade, they had to lower their [...]

The U. S. Senate today voted to cut off debate on its bailout bill.
It would spend hundreds of millions of taxpayer dollars for re-financing mortgages that are underwater now, that is,  more is owed on the house than it is worth.  This part of the program would be run by Fannie Mae and Freddie Mac.
And, [...]

The mortgage industry’s voluntary response to the foreclosure crisis, we will work with the borrowers ourselves, thank you very much, Uncle Sam, ( We don’t want your input unless you are sending us money.) is a smashing success.  So the mortgage industry reports.
Not so fast, my friend!
The comptroller of the currency stated the government statistics [...]

As Congress continues to refuse to act on bankruptcy law reform, which would work, we learn that Senators favored by Countrywide on the terms of their mortgages back mortgage company supported bailout legislation.
Such a shock!  Senator Konrad of North Dakota says he never met Countrywide’s chair, Angelo Mozillo.  Though he later admitted calling him on [...]

Many of us have blogged in vain thus far, as Congress and the Fed continue to dole out billions to bail out the mortgage companies and investment bankers, while ignoring bankruptcy law reform that would cost the taxpayer nothing.
And the Fed, who caused the sub-prime crisis with Greenspan’s bubble, [...]

No.
That is what the historical facts show, though the talking heads on TV and local mortgage brokers may tell you otherwise.
Historically, going back at least 30 years, lowering of rates by the Fed does not co-relate with a decline in 30 year fixed mortgage rates.
There are various reasons.
You may have [...]

     More than one observer thinks the prime mortgage market will follow in the footsteps of the sub-prime crisis.
This analysis focuses the attention on the credit bubble, instead of blaming the borrowers.
Who should be held to a higher standard, Alan Greenspan pumping up the money supply, creating the bubble, or people being pushed to buy [...]