Inquiring minds are reading the complete text of President Obama's State of the Union Address to see what distortions, lies, and hypocrisy it contains.
I found a nice Orwellian set of paragraphs smack in the middle of his speech.
And while Government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief.
Unsurprising to me, but still of note.
From ProPublica, insight into Wisconsin (among other states):
States have diverted $974 million from this year’s landmark mortgage settlement to pay down budget deficits or fund programs unrelated to the foreclosure crisis, according to a ProPublica analysis.
By Morris A. Davis
Today, we're fortunate to have Morris A. Davis, Assistant Professor of Real Estate and Urban Land Economics at University of Wisconsin School of Business, as a guest contributor.
Research by economists inside the Federal Reserve system have shown that two events typically lead homeowners to default on their mortgage (see here).
Reuters - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.
Richard Suttmeier submits: Housing Remains Weak as Mortgage Rates RiseThe Mortgage Bankers Association reported that its mortgage application index fell 18.6% last week led by a decline of 24.6% for the refinance index. The sixth consecutive weekly drop has happened as the 30-Year fixed rate mortgage rose to 4.85%.Existing home sales increased 5.6% in November to an annual rate of 4.68 million units.