Number of Modified Mortgages Jumps Sharply
The number of mortgages with permanently lowered monthly payments under the Obama administration’s foreclosure prevention program increased dramatically in January. Under the federal Home Affordable Modification Program, monthly payments were permanently lowered for 116,297 loans by the end of January, up from 66,465 a month earlier, the Treasury Department reported Wednesday. Also, click here, to read this Wall Street Journal article on loan modifications. And the Associated Press also covered the story.
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Foreclosures Are Stressful? Shocker.
Regarding the Feb. 16 Health brief “Study links foreclosures, family stress“:
I must admit that my stress level went up a few ticks when I read this article. It seems to me such a no-brainer that financial difficulty would cause psychological stress as to be unworthy of scientific inquiry. Besides citing statistics to prove the blatantly apparent, this study does nothing to solve the underlying problem.
(Read more)
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Man Pleads Guilty To Real Estate Ponzi Scheme
Jon Weldon James, 33, Long Beach, California, who operated a number of ventures that he used to solicit money with false claims of profitable investments in real estate has pleaded guilty to a federal wire fraud charge. James pleaded guilty to the federal offense related to his Ponzi scheme that collected more than $33 million from his El Segundo, California, based venture that operated under a series of names, including J.W. James and Associates, Inc., and The Cloaking Device, Inc.
(Read more) |
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February 23rd, 2010 | 
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