One study of mortgages during the Great Depression found that almost half of urban, owner-occupied homes (on which there was a mortgage) were in default by 1934. The government’s answer was to sponsor the creation of Fannie Mae in 1938 (or as it is really called, the Federal National Mortgage Association), which was, and [...]
For homeowners facing foreclosure or bankruptcy–or considering a short sale of their property to avoid one or both–the effect the action will have on their credit is undoubtedly a huge concern. Though keeping their homes might not be an option at this point, there could very well be another one in the not-too-distant future, so knowing when they’ll be eligible to qualify for another mortgage is important. 
Where have we seen this before? A major backer of home mortgages may need a bailout. Oh yeah, that was right here. Wasn’t it only a year ago that Fannie Mae and Freddie Mac needed a bailout to save them from themselves? They had so many bad loans on the books because of lax rules and loose oversight.
The economic law of supply and demand says that when demand increases and supply falls, prices are sure to rise. Apparently that law has an asterisk that says “except for Las Vegas.”
An 
Several months ago I mentioned Nevada was finally joining the 21st century in regards to foreclosure mediation. The 
estate investors we are always looking for the next “perfect” opportunity. You look around and see potential everywhere and are afraid of missing out. If you aren’t careful it can lead to a fatal case of gotta-do-a-deal-itis.
Joshua Dorkin
Charles Feldman
Ted Karsch.
Foreclosure Mitigation Deemed A Flop: Congressional Panel Tells It Like It Is; Administration Plan Fizzles; Foreclosures Rise; More Expected; Don’t Expect Much More Government Help; Forget About The Banks Bailing YOU Out; Don’t Bother Rationalization; Treasury Strategy Derided As Not Long Term Solution; Did I Leave Anything Out???; No, I Didn’t!!
by Charles Feldman | October 14, 2009Let’s stop beating around the bush….or, in this case, the Obama. The dismal results are in and there is NO question that the efforts, such as they are, of the Obama administration to effectively deal with the nation’s growing foreclosure problem amount to a failure.
Says who? Well, me, for one. But don’t take my word for it, just read the most recent report from the Congressional Oversight Panel which is charged with overseeing the administration’s efforts to cope with the foreclosure emergency.
Called “An Assessment of Foreclosure Mitigation Efforts after Six Months“–the panel report laments the “limited scope and scale of the Making Home Affordable” program……
And, it goes on to raise serious questions about whether any of the programs now in place will actually lead to permanent mortgage modifications for most or even many disperate homeowners.