By Mark Mix
Home day care providers would be forced into unions
As a Realtor in Orange County, California, Gary Thomas lives at the epicenter of the last decade’s epic housing boom and bust that is only now beginning to release the economy from its withering grip.
There is evidently no idea bad enough and no failure severe enough to stop the government from trying it once again. In myopia remarkable even by abysmal government standards, the White House is pushing for policies that fueled the housing bubble, which burst a mere five years ago.
Lending to homebuyers in the U.S. remains little above the depressed levels hit during the recession because banks are wary about lending amid a slew of regulations coming out next year and proliferation of enforcement actions by state and federal regulators, a top mortgage banking official told The Washington Times.
While mortgage rates continue to stay down, I think it's appropriate for an update aimed at homeowners with loans insured by the Federal Housing Administration (FHA).
Friday's grim financial report from the Federal Housing Administration (FHA) -- it's insolvent to the tune of negative $31 billion -- is prompting fresh scrutiny of the government's role in housing, particularly the mayhem caused by federal backing of mortgages involving low down payments and low credit scores.
The Federal Reserve concluded Wednesday's Federal Open Market Committee meeting without making a decision to change anything. The Fed intends to continue buying long-term securities, mostly mortgages, in an effort to keep interest rates artificially low.
The election is all about the economy this year, but neither presidential candidate has talked much about two major problems that could make or break the economic recovery in the next presidential term: housing and its broken finance system, and the European debt crisis.
There are glimmers of hope in the housing market. Starts and prices are on the rise -- an upbeat signal the likes of which hasn't been seen in years.
The federal government has sued Wells Fargo Bank in New York, blaming the nation's largest originator of home mortgages for thousands of loan defaults over the past decade.
Defense Secretary Leon E. Panetta is suggesting that a retired Navy SEAL be punished for writing a book giving an insider's account of the U.S. raid that killed terrorist leader Osama bin Laden.
With the federal government closing in on its fourth consecutive budget deficit in excess of $1 trillion, the national debt is hurtling toward dangerous levels. If the nation is to avert a debt crisis, federal policymakers need to aggressively balance revenues. Business subsidies, or "corporate welfare," are a good place to start.
Tax cheats were given $1.4 billion in government-backed mortgage loans under President Obama's economic stimulus, and the government doled out at least an additional $27 million in tax credits to delinquents who took the first-time-homebuyer tax break, according to a government audit released Wednesday.
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
A day after raising nearly $20 million for his re-election, President Obama visited foreclosure-ridden Nevada Friday and urged Congress to approve legislation that would help more struggling homeowners refinance their mortgages.
When Heidi Krieger, who recently purchased a one-bedroom co-op in Cleveland Park, first started looking at co-ops and condos, her first concern was to find a home she loved. Her second priority was to make sure the monthly fees were affordable.
