August, 2011 - Part 2

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Fannie Mae Second quarter mortgage loan losses

Fannie Mae’s Taken Another Billion . . . Or 5

Well, I’m relieved. Fannie Mae’s second quarter losses went down compared to first quarter. So tax payers are less on the hook than they were a few months ago. Fannie “only” took us to the cleaners for $5 billion. And for those keeping score at home we’re at a total of $104.8 billion. Isn’t that...

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foreign investors in real estate market

Foreign Investors Are Taking Your Cash

This isn’t going to sound P.C. but I’m just going to say it anyway – our country is being overrun by foreigners. No, I don’t mean the kind that come here seeking opportunity and who want to contribute to the great American melting pot. And I don’t mean the kind that climb over the border...

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mortgage loan principle reduction

Why Does BofA Still Have Your Money?

Bank of America may have decided to fight the foreclosure battle head on. They’ve begun working with HUD to offer reductions of principal in bad mortgages. And it’s not just BofA. Almost every major lender in the country is being pressured by the government to explain all those naughty practices like faulty paperwork and illegal...

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Has Your Bank Seen the Light?

I told you late last week about some huge news. But you know what? I’m nervous that you got started on your weekend “relaxation” a little early and missed it. So I’m going to throw it in your face one more time just so you appreciate how unbelievable this announcement is. So here goes. You...

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