U.S. Foreclosure-Prevention Program Fell Short
U.S. Foreclosure-Prevention Program Fell Short
December 14, 2010, Washington Post
The Treasury Department's primary foreclosure-prevention program has failed to live up to expectations and has suffered from a lack of "meaningful goals," according to a report from a congressional watchdog panel due out Tuesday. The government's Home Affordable Modification Program, or HAMP, is on pace to prevent 700,000 to 800,000 foreclosures - a significant figure, but far fewer than the 3 million to 4 million struggling homeowners Treasury officials originally hoped to help, according to the bipartisan Congressional Oversight Panel.
Pixie Dust Loses Magic as Foreclosures Slam Disney Town
December 13, 2010, Bloomberg
Walt Disney Co. built Celebration, Florida, as an idealized version of a circa-World War II small town, where litter-free streets are lined with white picket fences and front porches entice neighbors to sit after dinner. Now, there’s trouble in the 16-year-old paradise set within earshot of the nightly fireworks at Walt Disney World Resort.
Buying a Home Now is a No-Brainer
December 13, 2010, CNN Money
Is now the right time to invest in a house? Trick question. Actually, it's two questions. Question No. 1: Is now the time to buy? Question No. 2: Is buying a house a good investment? The first answer is easy: With a few exceptions, if you have 20% to put down and good credit, now is a great time to buy. That's been the case all year, and I'd argue that we're probably closer to the end than to the beginning of the really great time. Let me explain.
Regulators Exist to ‘Serve the Banks,’ Finance Chairman Declares
December 14, 2010, The Raw Story
Alabama Republican Spencer Bachus, the incoming chairman of the House banking committee, suggested Congress and federal regulators should play a subservient role with banks ."In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," Bachus told The Birmingham News in an interview.
Barbara Corcoran: Power Broker to Powerful Motivator
December 13, 2010, Bigger Pockets Blog
Waitress and straight-D student Barbara Corcoran started her real-estate company, The Corcoran Group, with a friendly loan for a thousand dollars. In 2001, she sold it for $70 million. The $5 billion company is still in operation today, and one of the biggest power players in New York real estate.