Protecting Tenants at Foreclosure Act of 2009 (signed by President Obama May 20, 2009.)
This legislation provided that leases would survive a foreclosure -- meaning the tenant could stay at least until the end of the lease, and that month-to-month tenants would be entitled to 90 days' notice before having to move out (this notice period is longer than any state's non-foreclosure notice period, a real boon to tenants).
An exception was carved out for the buyer who intends to live on the property -- this buyer may terminate a lease with 90 days' notice.
Source: http://www.nolo.com/legal-encyclopedia/article-30064.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, February 28, 2011
Thursday, February 24, 2011
HUD Counselors & Resources for Residents and Communities of Georgia, Inc. (RRC)
Provides comprehensive counseling for housing needs in Atlanta metro area.
6-10-2011: If you will, or have problems meeting your mortgage...
Avoid foreclosure - check out the HUD Housing Counseling Agencies located in GEORGIA - http://www.hud.gov/offices/hsg/sfh/hcc/fc/index.cfm?&webListAction=search&searchstate=GA&filterSvc=dfc
If you need 2 avoid foreclosure, contact a HUD Housing Counselor = There is NO fee - (800) 569-4287
http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor
RRC is a non-profit community development corporation founded in 1989 with the initial mission of revitalizing the Reynoldstown community of Atlanta. RRC creates sustainable communities through knowledge sharing, community building, housing, and economic opportunities. RRC began providing homeownership counseling services to low-income clients as a community-based partner of the United Way Individual Development Account program beginning in 1999. In 2006, RRC formally established its HomeOwnership Center, which provides homebuyer education and counseling, financial fitness education, post-purchase education, foreclosure prevention counseling, and a rescue loan fund to clients from throughout the metro Atlanta area. During Fiscal Year 2009, the RRC counseled 1,121 clients.
Website: http://www.rrc.reynoldstown.org/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
6-10-2011: If you will, or have problems meeting your mortgage...
Avoid foreclosure - check out the HUD Housing Counseling Agencies located in GEORGIA - http://www.hud.gov/offices/hsg/sfh/hcc/fc/index.cfm?&webListAction=search&searchstate=GA&filterSvc=dfc
If you need 2 avoid foreclosure, contact a HUD Housing Counselor = There is NO fee - (800) 569-4287
http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor
RRC is a non-profit community development corporation founded in 1989 with the initial mission of revitalizing the Reynoldstown community of Atlanta. RRC creates sustainable communities through knowledge sharing, community building, housing, and economic opportunities. RRC began providing homeownership counseling services to low-income clients as a community-based partner of the United Way Individual Development Account program beginning in 1999. In 2006, RRC formally established its HomeOwnership Center, which provides homebuyer education and counseling, financial fitness education, post-purchase education, foreclosure prevention counseling, and a rescue loan fund to clients from throughout the metro Atlanta area. During Fiscal Year 2009, the RRC counseled 1,121 clients.
Website: http://www.rrc.reynoldstown.org/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Wednesday, February 23, 2011
Cobb SPLOST 2011 - Vote NO!
Look at these 4 year SPLOST 2011 Plans - Do you see any details in the SPLOST 2011 plans to give you an idea if the projects are necessary or just "wants"? Are they too general or just right for your taste?
The Marietta Daily Journal stated (1-9-2011, 5B) that we may have to pay more if the Cobb SPLOST isn't approved. Per House Bill 277 that was passed last year (thanks Republican schmucks), if we don't pass the continuation of penny sales tax, we might pay more for state road projects. Is this the only choice we have? Sounds like a law can be changed....and what state road projects are necessary? Will the 21 Regional Roundtable members come up with a list of "only" absolutely necessary projects for the ten years starting in 2012? - Probably not.
I don't object to a sales tax for "repairs" of roads and buildings. I do believe there are bridges needing repairs, roads and buildings in need of repair, but I don't believe Cobb has sufficiently identified details of just what expenditures are planned and they are not disclosed properly.
One example of another Government Waste of SPLOST Dollars in Cobb County - The New Superior Court Building in Cobb County
Bullet resistant drywall - that's good if guns ever get past the high paid security on the first level and through the rest of the building...c'mon, is it really necessary? Hope there was a sufficient break on insurance coverage costs to pay for it!
80-85% of the construction debris was recycled - oh really, how does scrap pieces of drywall and other debris get recycled - and into what? If that was a major accomplishment, did it save the taxpayers lots of money?
Two goals of the new courthouse were to reduce energy costs by 15% and water costs by 40%...why not turn off a few lights and pout bricks in toilet tanks or just shut off a bathroom or two, or turn the thermostat up in the summer and you get some savings. These are noble goals but did you have to build another courthouse to achieve these savings? Isn't the mere fact you are using more energy efficient materials going to give you energy savings and only 15%? Why not 25%?
Over 25-30 years, cost savings (water - electric - HVAC) will be significant - yeah, if it lasts that long! And will we need to wait that long? There's alot of updates, modifications, and repairs in that same 25-30 year period.
Oh and Juvenile and Magistrate Courts are supposed to move into the old courthouse, but no money is left for that move - so that cost is buried in the 2011 SPLOST proposal on March 15, 2011 - gotcha!
When will the Cobb voters demand more details and specifics before tax money is spent - maybe never?
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
The Marietta Daily Journal stated (1-9-2011, 5B) that we may have to pay more if the Cobb SPLOST isn't approved. Per House Bill 277 that was passed last year (thanks Republican schmucks), if we don't pass the continuation of penny sales tax, we might pay more for state road projects. Is this the only choice we have? Sounds like a law can be changed....and what state road projects are necessary? Will the 21 Regional Roundtable members come up with a list of "only" absolutely necessary projects for the ten years starting in 2012? - Probably not.
I don't object to a sales tax for "repairs" of roads and buildings. I do believe there are bridges needing repairs, roads and buildings in need of repair, but I don't believe Cobb has sufficiently identified details of just what expenditures are planned and they are not disclosed properly.
One example of another Government Waste of SPLOST Dollars in Cobb County - The New Superior Court Building in Cobb County
Bullet resistant drywall - that's good if guns ever get past the high paid security on the first level and through the rest of the building...c'mon, is it really necessary? Hope there was a sufficient break on insurance coverage costs to pay for it!
80-85% of the construction debris was recycled - oh really, how does scrap pieces of drywall and other debris get recycled - and into what? If that was a major accomplishment, did it save the taxpayers lots of money?
Two goals of the new courthouse were to reduce energy costs by 15% and water costs by 40%...why not turn off a few lights and pout bricks in toilet tanks or just shut off a bathroom or two, or turn the thermostat up in the summer and you get some savings. These are noble goals but did you have to build another courthouse to achieve these savings? Isn't the mere fact you are using more energy efficient materials going to give you energy savings and only 15%? Why not 25%?
Over 25-30 years, cost savings (water - electric - HVAC) will be significant - yeah, if it lasts that long! And will we need to wait that long? There's alot of updates, modifications, and repairs in that same 25-30 year period.
Oh and Juvenile and Magistrate Courts are supposed to move into the old courthouse, but no money is left for that move - so that cost is buried in the 2011 SPLOST proposal on March 15, 2011 - gotcha!
When will the Cobb voters demand more details and specifics before tax money is spent - maybe never?
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, February 21, 2011
Cobb Housing, Inc.
Comprehensive Counseling in the Marietta and Cobb County area
Cobb Housing, Inc. is a non-profit community based organization designated as a State of Georgia Community Housing Development Organization. The agency‟s mission is to enhance the community by providing a full range of affordable home ownership programs and services. Since 1993, Cobb Housing, Inc., a NeighborWorks America charter member, has provided individual and group pre-purchase, post-purchase and foreclosure prevention counseling to Metro Atlanta residents. The agency also provides foreclosure prevention and loss mitigation counseling through the National Foreclosure Mitigation Counseling Program. Cobb Housing, Inc. served 1,150 during Fiscal Year 2009.
WEBSITE: http://www.cobbhousinginc.org/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Cobb Housing, Inc. is a non-profit community based organization designated as a State of Georgia Community Housing Development Organization. The agency‟s mission is to enhance the community by providing a full range of affordable home ownership programs and services. Since 1993, Cobb Housing, Inc., a NeighborWorks America charter member, has provided individual and group pre-purchase, post-purchase and foreclosure prevention counseling to Metro Atlanta residents. The agency also provides foreclosure prevention and loss mitigation counseling through the National Foreclosure Mitigation Counseling Program. Cobb Housing, Inc. served 1,150 during Fiscal Year 2009.
WEBSITE: http://www.cobbhousinginc.org/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Friday, February 18, 2011
Metro Atlanta area Property Taxes and Appeals
The Atlanta Journal-Constitution reported in December 2010 of some issues with Metro Atlanta property taxes in the major Metro Atlanta Counties. The major concern for property owners is the valuation of each residential property for tax purposes seems to be inflated in many cases. The AJC conducted a comparison between thousands of home sales prices (in 2009 and 2010) and each County's tax valuation of those properties and found some major discrepancies. Dekalb County reported about a 25% higher value than sales price on the average. Also, Dekalb County still has about 7,000-8,000 appeals waiting to be reviewed.
Section 5-2 of Georgia Senate Bill 346 (signed by Governor Perdue and became law effective 1-1-2011) required all Georgia Counties to use the actual sales price in the next year following the sale for valuation when calculating property taxes.
Look at your 2010 property tax bill. If you can’t lay your hands on it, you can look it up online. Many counties have searchable databases of residential property. (Web addresses for the five largest metro counties are below.)
Clayton: http://weba.co.clayton.ga.us/tcmsvr/htdocs/indextcm.shtml
Cobb: http://www.cobbtax.org/Search/?GenericSearch.aspx?mode=PARID
DeKalb: http://web.co.dekalb.ga.us/taxcommissioner/search.asp
Fulton: http://www.fultoncountytaxes.org/fultoniwr/11_depts_property_taxes.asp
Gwinnett: http://gwinnetttaxcommissioner.manatron.com/Tabs/ViewPayYourTaxes.aspx
What do you know about sales of other homes in your neighborhood? Do home values seem to be going down? If so, the county may have overvalued your house for tax purposes. If you think your house has been overvalued for tax purposes, you now have two options:
File a property tax return
(1) In the past, the best way to ensure you could appeal the county’s assessment of your property’s value was to file a form called a “property tax return,” which forced the assessor to send you a notice of your property value. Under new state law, assessors now must send a Notice of Current Assessment to all residential property owners. But in some cases, you may still want to file a return. To do so, download and print the one-page form found at: https://etax.dor.ga.gov/ptd/adm/forms/pt50r/LGS_TAXPAYERS_RETURN_OF_REAL_PROPERTY_PT50R.pdf.
(2) Section C of the form asks you to list last year’s “fair market value” on your land and your house. Then it asks you to list the value of the land and the house this year (as of Jan. 1, 2011). This is where you tell the county the value of your property has gone down. You must send the form to your county tax assessor between Jan. 1 and April 1, 2011.
(3) The assessor reviews your return and decides whether it reflects your property value. The county will respond with a Notice of Current Assessment between April and June.
(4) If the county turns you down, you have the right to appeal. But if the county agrees with your proposed value, it could save you the hassle of a formal appeal.
Appeal your appraisal
(1) Previously, you could appeal your property assessment only if you filed a property tax return or if the county changed the value of your property. Beginning this year, anyone can appeal.
(2) File your appeal within 45 days of the date on your notice (counties have different deadlines). First stop: the county board of assessors. Most appeals are worked out there.
(3) If you can’t reach agreement with the board of assessors, the next stop for residential taxpayers is (a) board of equalization, which is a panel of county residents that hears appeals unresolved at the assessor level, or (b) binding arbitration, which involves submitting a written private appraisal to an arbitrator appointed by the superior court clerk. You can appeal a board of equalization decision to your county superior court. Note that both arbitration and appealing to superior court carry fees. There is no fee for an appeal to a board of equalization.
More information on appeal: https://etax.dor.ga.gov/ptd/adm/taxguide/appeals.aspx
Section 5-2 of Georgia Senate Bill 346 (signed by Governor Perdue and became law effective 1-1-2011) required all Georgia Counties to use the actual sales price in the next year following the sale for valuation when calculating property taxes.
Look at your 2010 property tax bill. If you can’t lay your hands on it, you can look it up online. Many counties have searchable databases of residential property. (Web addresses for the five largest metro counties are below.)
Clayton: http://weba.co.clayton.ga.us/tcmsvr/htdocs/indextcm.shtml
Cobb: http://www.cobbtax.org/Search/?GenericSearch.aspx?mode=PARID
DeKalb: http://web.co.dekalb.ga.us/taxcommissioner/search.asp
Fulton: http://www.fultoncountytaxes.org/fultoniwr/11_depts_property_taxes.asp
Gwinnett: http://gwinnetttaxcommissioner.manatron.com/Tabs/ViewPayYourTaxes.aspx
What do you know about sales of other homes in your neighborhood? Do home values seem to be going down? If so, the county may have overvalued your house for tax purposes. If you think your house has been overvalued for tax purposes, you now have two options:
(1) In the past, the best way to ensure you could appeal the county’s assessment of your property’s value was to file a form called a “property tax return,” which forced the assessor to send you a notice of your property value. Under new state law, assessors now must send a Notice of Current Assessment to all residential property owners. But in some cases, you may still want to file a return. To do so, download and print the one-page form found at: https://etax.dor.ga.gov/ptd/adm/forms/pt50r/LGS_TAXPAYERS_RETURN_OF_REAL_PROPERTY_PT50R.pdf.
(2) Section C of the form asks you to list last year’s “fair market value” on your land and your house. Then it asks you to list the value of the land and the house this year (as of Jan. 1, 2011). This is where you tell the county the value of your property has gone down. You must send the form to your county tax assessor between Jan. 1 and April 1, 2011.
(3) The assessor reviews your return and decides whether it reflects your property value. The county will respond with a Notice of Current Assessment between April and June.
(4) If the county turns you down, you have the right to appeal. But if the county agrees with your proposed value, it could save you the hassle of a formal appeal.
(1) Previously, you could appeal your property assessment only if you filed a property tax return or if the county changed the value of your property. Beginning this year, anyone can appeal.
(2) File your appeal within 45 days of the date on your notice (counties have different deadlines). First stop: the county board of assessors. Most appeals are worked out there.
(3) If you can’t reach agreement with the board of assessors, the next stop for residential taxpayers is (a) board of equalization, which is a panel of county residents that hears appeals unresolved at the assessor level, or (b) binding arbitration, which involves submitting a written private appraisal to an arbitrator appointed by the superior court clerk. You can appeal a board of equalization decision to your county superior court. Note that both arbitration and appealing to superior court carry fees. There is no fee for an appeal to a board of equalization.
More information on appeal: https://etax.dor.ga.gov/ptd/adm/taxguide/appeals.aspx
Thursday, February 17, 2011
Mortgage Servicers and Foreclosure Practices
The Securities and Exchange Commission (SEC) is investigating disclosure, misrepresentation, and omission issues.
Both the Federal Housing Finance Agency (FHFA) who regulates Fannie Mae and Freddie Mac and the Office of the US Controller of Currency have requested reviews of major banks.
HUD is also on the warpath and has the authority to fine or sanction banks.
Please go to this link to Cspan's excellent coverage of the Congressional investigations of the subject: http://www.c-spanvideo.org/videoLibrary/search-results.php?keywords=mortgage+servicer+foreclosure+practices
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Both the Federal Housing Finance Agency (FHFA) who regulates Fannie Mae and Freddie Mac and the Office of the US Controller of Currency have requested reviews of major banks.
HUD is also on the warpath and has the authority to fine or sanction banks.
Please go to this link to Cspan's excellent coverage of the Congressional investigations of the subject: http://www.c-spanvideo.org/videoLibrary/search-results.php?keywords=mortgage+servicer+foreclosure+practices
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Wednesday, February 16, 2011
States are modifying loans
In states where mediation of foreclosures through some fashion of legal assistance (not a non-Judicial foreclosure state like Georgia), the states are requiring banks to modify loans...About 20 states offer some form of foreclosure mediation.
Over 60% of the people in mediation have received permanent loan modifications.
Some borrowers have complained that the lender transfers them from person to person and the Congressional investigations on Cspan reveal some of the practices.
There was also a reported 1.5 million loan modifications made by the industry - But how many of those modifications were permanent and how many were just for the minimum 3 months to get their fees and setup for another loan modification?
Source: WSJ 12-31-2010, A4 - http://online.wsj.com/article/SB10001424052748704543004576051843140821936.html?mod=djemRealEstate_h
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Over 60% of the people in mediation have received permanent loan modifications.
Some borrowers have complained that the lender transfers them from person to person and the Congressional investigations on Cspan reveal some of the practices.
There was also a reported 1.5 million loan modifications made by the industry - But how many of those modifications were permanent and how many were just for the minimum 3 months to get their fees and setup for another loan modification?
Source: WSJ 12-31-2010, A4 - http://online.wsj.com/article/SB10001424052748704543004576051843140821936.html?mod=djemRealEstate_h
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Tuesday, February 15, 2011
Seller Assisted Down Payment Programs are more risky?
YES- According to the General Accounting Office study - GAO Report on Delinquencies of Down Payment Assistance Programs
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, February 14, 2011
Dodd Frank law - truth or "unintended" consequences?
Apparently the federal limits of credit card issuers can adjust rates led to higher rates and limited product offerings driving borrowers to less conventional lenders including payday lenders, loan sharks, and pawn shop rates.
Also the 2009 CARD (Card Accountability Responsibility Disclosure) Act imposed limits on credit card interest rate adjustments and penalty fees.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Also the 2009 CARD (Card Accountability Responsibility Disclosure) Act imposed limits on credit card interest rate adjustments and penalty fees.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Thursday, February 10, 2011
New Fannie Mae "WaysHome" Initiative
Fannie Mae has recently started its new WaysHome initiative to try and keep homeowners in their homes - no matter if they own them or not...
http://www.knowyouroptions.com/options-to-stay-in-your-home
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
http://www.knowyouroptions.com/options-to-stay-in-your-home
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Tuesday, February 8, 2011
Where did all the jobs go?
Per an Associated Press article in the 12-29-2010 MDJ (A1), since sales in international markets are growing twice as fast as US domestic sales, demand overseas creates jobs overseas. Reportedly 1,4 million jobs overseas compared with about 1 million here in the US.
This has resulted in all but 4 of the top 500 US corporations reported profit for 2010 and half the revenue for S&P 500 companies came from outside the US.
Also, it seems that the production of many products moved to overseas facilities aren't returning to the US.
China became the world's second largest economy.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
This has resulted in all but 4 of the top 500 US corporations reported profit for 2010 and half the revenue for S&P 500 companies came from outside the US.
Also, it seems that the production of many products moved to overseas facilities aren't returning to the US.
China became the world's second largest economy.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, February 7, 2011
Are tankless water heaters worth it?
Bottom line: Spend $2,500 to get $75/annual return?
That All depends...on your perspective of worth.
If you want instant hot water, don't want to waste a little gas or time warming the water, deplete the tank and run out of hot water often, and then it may be for you.
But if you think the tankless water heaters are expensive to install ($2,500 potential overall purchase and installation costs) and very long payback (25-30 years) even after any tax credits, then they may not be for you.
Here's some good information from consumer reports:
http://www.consumerreports.org/cro/appliances/heating-cooling-and-air/water-heaters/tankless-water-heaters/overview/tankless-water-heaters-ov.htm?view=Print
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
That All depends...on your perspective of worth.
If you want instant hot water, don't want to waste a little gas or time warming the water, deplete the tank and run out of hot water often, and then it may be for you.
But if you think the tankless water heaters are expensive to install ($2,500 potential overall purchase and installation costs) and very long payback (25-30 years) even after any tax credits, then they may not be for you.
Here's some good information from consumer reports:
http://www.consumerreports.org/cro/appliances/heating-cooling-and-air/water-heaters/tankless-water-heaters/overview/tankless-water-heaters-ov.htm?view=Print
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Friday, February 4, 2011
Electronic House Appraisals
Just when you thought there was enough confusion and dissension regarding appraisals, lenders are using electronic desktop computerized appraisals for preapprovals for mortgage refinancing; home equity loan approvals; loan modifications; and purchasing properties valued under $250,000.
The results of the computerized appraisals have been mixed - some higher, some lower than expected. Obviously, when the appraisal isn't where the borrower wanted it to be, there are protests. But in all frankness, sometimes the appraisals done by human appraisers have fallen short and caused consternation.
This may cost around $20 where human appraisals cost anywhere from $300 up to $1,000.
Source: WSJ, 12-30-2010, C1
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
The results of the computerized appraisals have been mixed - some higher, some lower than expected. Obviously, when the appraisal isn't where the borrower wanted it to be, there are protests. But in all frankness, sometimes the appraisals done by human appraisers have fallen short and caused consternation.
This may cost around $20 where human appraisals cost anywhere from $300 up to $1,000.
Source: WSJ, 12-30-2010, C1
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Thursday, February 3, 2011
Federal Bank Regulators Fail to do their Job
Update - 4-8-2011: Senate Permanent Subcommittee on Investigations will release a report soon about revealing emails from securities firms that bet for and against subprime mortgages and mortgage related CDOs. The subcommittee may prosecute./pursue further, but the report is supposed to expose financial vehicles used to caused problems including the Hudson Mezzanine Funding 2006-1 that made Morgan Stanley realize $9 B loss on investment. (WSJ, 4-2/3-2011, B1)
According to an April 2010 study released by the US Senate Subcommittee on Investigations, the Office of Thrift Supervision (who regulates banks) failed to properly oversee and enforce correction of issues at Washington Mutual (WaMu) regarding their mortgage lending and risk management problems dating back to 2002. Senator Carl Levin stated thought it was a conflict of interest. Apparently, WaMu was a large lender in subprime mortgages during 2002 to 2008.
Wow, can you say "bigger Government is gooder"?
Source: MDJ, 4-16-2010, 7B
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
According to an April 2010 study released by the US Senate Subcommittee on Investigations, the Office of Thrift Supervision (who regulates banks) failed to properly oversee and enforce correction of issues at Washington Mutual (WaMu) regarding their mortgage lending and risk management problems dating back to 2002. Senator Carl Levin stated thought it was a conflict of interest. Apparently, WaMu was a large lender in subprime mortgages during 2002 to 2008.
Wow, can you say "bigger Government is gooder"?
Source: MDJ, 4-16-2010, 7B
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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