На главную
Результаты поиска “Mortgage bail out plan details”
Grant Woods and John Mistler discuss President Obama's mortgage bailout plan
On The Grant Woods Show, former NFL and ASU great John Mistler, now regional president for First Community Bank, discusses President Obama's mortgage bailout plan.
Просмотров: 320 wbball4ever
The 2008 Financial Crisis: Crash Course Economics #12
Today on Crash Course Economics, Adriene and Jacob talk about the 2008 financial crisis and the US Goverment's response to the troubles. So, all this starts with home mortgages, and the use of mortgages as an investment instrument. For years, it seemed like the US housing market would go up and up. Like a bubble or something. It turns out it was a bubble. But not the good kind. And the government response was...interesting. Anyway, why are you reading this? Watch the video! More Financial Crisis Resources: Financial Crisis Inquiry Report: http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf TAL: Giant Pool of Money: http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money Timeline of the crisis: https://www.stlouisfed.org/financial-crisis/full-timeline http://www.economist.com/news/schoolsbrief/21584534-effects-financial-crisis-are-still-being-felt-five-years-article Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Просмотров: 1244283 CrashCourse
Mortgage-backed securities I | Finance & Capital Markets | Khan Academy
Part I of the introduction to mortgage-backed securities. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/derivative-securities/mort-backed-secs-tut/v/mortgage-backed-securities-ii?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/derivative-securities/mort-backed-secs-tut/v/mortgage-back-security-overview?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: In many commodities markets, it is very helpful for buyers or sellers to lock-in future prices. This is what both forwards and futures allow for. This tutorial explains how they work and what the difference is between the two. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Просмотров: 420320 Khan Academy
Obama's Mortgage Plan Worthless Waste
President Obama came to ground zero of the mortgage crisis--Arizona to announce his plan to help those with distressed mortgages. Now that the details have been released it turns out to be not only a waste--but worthless: http://tinyurl.com/72mj88
Просмотров: 259 beckychr007
This Is What The Wall Street Bailout Really Cost You
A new report by Bloomberg Markets Magazine details trillions of dollars in secret federal loans made to the big banks during the 2008 financial crisis, a process that helped them rake in billions of dollars in undisclosed profits. Here, some key numbers that illuminate the Federal Reserve's "breathtaking" $7.7 trillion bank bailout... Read More At: http://theweek.com/articles/479867/federal-reserves-breathtaking-77-trillion-bank-bailout Clip from The Kyle Kulinski Show, which airs live on Blog Talk Radio and Secular Talk Radio Monday - Friday 4:00 - 5:30 PM Eastern time zone. Check out our website - and become a member - at: http://www.SecularTalkRadio.com Listen to the Live Show or On Demand archive at: http://www.blogtalkradio.com/kylekulinski Follow on Twitter: http://www.twitter.com/kylekulinski Like on Facebook: http://www.facebook.com/SecularTalk Friends Of SecularTalk: http://www.facebook.com/beastofreason AMAZON LINK: (Bookmark this link to support the show for free!!!) http://www.amazon.com/?tag=seculacom-20
Просмотров: 49107 Secular Talk
Mortgages Down In Trump’s America
One policy change put into place by the Trump Administration is already having bad effects. Ana Kasparian and Cenk Uygur, hosts of The Young Turks, discuss. Tell us what you think in the comment section below. http://tytnetwork.com/go "A plunge in applications for government-insured loans was behind a drop in overall mortgage volume last week. Total mortgage applications fell 3.2 percent on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association. Volume was 18 percent lower than the same week one year ago. Most notable was a 13 percent drop in FHA applications — a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration. That cut was the last major policy act of the Obama administration and would have decreased monthly payments for thousands of new, lower-income borrowers. FHA applications increased immediately after the cut was announced, and lenders have reported that many of those have also been withdrawn… Applications to refinance a home loan fell 1 percent for the week, seasonally adjusted but are nearly 32 percent below year-ago levels. Refinance volume dipped below 50 percent of overall applications and hit its lowest since July 2015. Mortgage rates jumped decisively following the presidential election, pulled back slightly at the start of the new year and are now heading higher once again. Mortgage applications to purchase a home fell a steeper 6 percent for the week and are just 2 percent higher than a year ago. Home price gains continue to increase, and affordability is weakening across the nation, but demand for housing is rising.”* Read more here: http://www.cnbc.com/2017/02/01/trumps-first-housing-move-tanks-mortgage-applications.html Hosts: Ana Kasparian, Cenk Uygur Cast: Ana Kasparian, Cenk Uygur *** The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET. http://www.tytnetwork.com/live Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary) Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://www.tytnetwork.com/join/. Your membership supports the day to day operations and is vital for our continued success and growth. Get The Young Turks Mobile App Today! Download the iOS version here: https://itunes.apple.com/us/app/the-young-turks/id412793195?ls=1&mt=8 Download the Android version here: https://play.google.com/store/apps/details?id=com.tyt
Просмотров: 123996 The Young Turks
US takes over mortgage giants - 08 Sep 08
Subscribe to our channel http://bit.ly/AJSubscribe It's one of the biggest financial bail outs in the history of the United States and its impact is being felt around the world. The US Federal Government has taken over the mortgage giants Freddie Mac and Fannie Mae. The two acccount for nearly half of all the outstanding mortgages in the US. Together they own or guarantee mortgages worth more than $5 trillion - almost the equivalent of Japan's GDP. And the threat to them is very real because of the housing market collapse. One in ten Americans is behind on payments or faces repossession and both companies are losing billions. John Terret takes a look at the details of the bailout plan. At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.' Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained. Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on. We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels. Social Media links: Facebook: https://www.facebook.com/aljazeera Instagram: https://instagram.com/aljazeera/?ref=... Twitter: https://twitter.com/ajenglish Website: http://www.aljazeera.com/ google+: https://plus.google.com/+aljazeera/posts
Просмотров: 3277 Al Jazeera English
Bush details help for troubled homeowners
Ray Bassett: (212) 621-7537 HEADLINE: Bush details help for troubled homeowners CAPTION: (date) President Bush outlined ways that the federal government can help troubled borrowers keep their homes Friday to try to address rising foreclosures fueled by the mortgage crisis, an effort that is not aimed at bailing out lenders, either. (Aug. 31) ***** [Notes:ANCHOR VOICE] President Bush Friday outlined the first efforts by the White House to address a wave of home foreclosures that are expected to snowball. ((FONT: White House)) "The markets are in a period of transition as participants re-assess and re-price risk. This process has been unfolding for some time and its going to take some time to fully play out as it is now America's economy remains strong enough to weather any turbulence." He urged lenders re-finance homeowners who are unable to pay their monthly mortgages. He also called on Congress to pass a host of reforms that would give tax and other incentives to people who need to re-finance their homes. "It's not the government's job to bail out speculators or those who made the decision to buy a home they knew they could never afford. Yet there are many American homeowners who can get through this difficult time with a little flexibility from their lenders or little help from their government." Bush's plan would allow homeowners with good credit histories, who nonetheless cannot afford their mortgages - to re-finance using the Federal Housing Administration. ((FONT: Tim Paradis, AP Financial Writer)) "I don't know if it's immediately clear how homeowners will benefit. But I think it was more a re-assurance that the government hasn't forgotten them, and that some people who are really struggling it seems there could be reforms that will help them pay their mortgages." Over the next year and a half, an estimated 2 million adjustable rate mortgages will be re-set to higher rates. Ted Shaffrey, The Associated Press, New York You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/925819ac0b8abe7c9b2e6eda2de62e0b Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Просмотров: 8 AP Archive
The Causes and Effects of the Financial Crisis 2008
Found this super informative and useful video on The Crisis of Credit visualized by Jonathan Jarvis Please check out their website: http://cashmoneylife.com/economic-financial-crisis-2008-causes/ P.S. I do not own this video, just sharing..
Просмотров: 822306 Vivien Yeow
Homeowner Affordability and Stability Plan
http://www.cambridge-credit.org -- Transcription: Hello, and welcome to Your Money 2.0. I’m Christopher Viale, president and CEO of Cambridge Credit Counseling Corp. Recently, the Obama Administration introduced its Homeowner Affordability and Stability Plan. Details have been a bit scarce, but more information will be made available before implementation on March 4th. The Plan approaches the housing crisis on two fronts – refinancing, and the modification of loan terms. Both parts try to make circumstances more comfortable for consumers by reducing their monthly mortgage payments. Overall, the administration anticipates the plan will help close to 9 million Americans maintain homeownership. When it comes to refinancing, the Plan would allow a homeowner to secure a reduced interest rate by easing the lending criteria for loans owned or guaranteed through Government Sponsored Enterprises, or GSE’s, like Fannie Mae or Freddie Mac. This provision could help a portion of the 15 million American homeowners who owe much more on their loan than their house is currently worth. The revised guidelines would allow homeowners to refinance up to 105% of a home’s current value, even if there is little or no equity in the home. This could help 4 to 5 million homeowners roughly a third of those mentioned earlier, save about $200 a month. The modification aspect of the plan is designed to assist homeowners who are at risk of foreclosure. The definition of “at risk” has been expanded to include those who may not have yet missed a loan payment, but who have the potential to do so. Here, the Plan hinges on lender participation and the affordability of the monthly mortgage payment. First, the lender will need to work with the consumer to reduce the mortgage payment to no more than 38% of his or her gross income. From there, the government will match lender concessions dollar-for-dollar to further reduce the monthly payment to 31% of the consumer’s debt-to-income ratio.
Просмотров: 934 Cambridge Credit Counseling Corp.
Federal Reserve Buying Up MASSIVE Amounts Of Debt! - Bubbles Are Bursting & The Dollar Is CRASHING!
Josh Sigurdson talks with author and economic analyst John Sneisen regarding the massive buy-up of mortgage bond debt by the Federal Reserve. According to Reuters, "The Federal Reserve bought $7.029 billion of agency mortgage-backed securities in the week from Sep. 28 to Oct. 4, compared with $6.937 billion purchased the previous week..." On top of all of this, the Fed is selling none of this debt! Of course in 2006 and 2007, mortgage backed secrities were huge. As were collateralized debt obligations and credit default swaps. This vast manipulation of the markets based in debt and derivatives lead to the massive housing bubble burst/crash in 2007. We are now seeing a huge return of mortgage backed securities as the Federal Reserve continues to print vast amounts of worthless fiat currency. The combination of market and monetary manipulation is brewing up an epic storm that's due to touch down at any time. This will lead to a very subservient impoverished public. John breaks down how this will affect the average person, how it struck in 2007 and how it will strike in the near future. The bubble is inflating more by the day and it's becoming more and more unsustainable. This is why people must be financially responsible and self sustainable. The state and banking system loves an indebted populace and individuals must get the upperhand and provide their own solutions. Stay tuned for more from WAM! Video edited by Josh Sigurdson Featuring: Josh Sigurdson John Thore Stub Sneisen Graphics by Bryan Foerster and Josh Sigurdson Visit us at www.WorldAlternativeMedia.com LIKE us on Facebook here: https://www.facebook.com/LibertyShallPrevail/ Follow us on Twitter here: https://twitter.com/WorldAltMedia FIND US ON STEEMIT: https://steemit.com/@joshsigurdson SPONSORED BY: Canam Bullion & Currency Exchange: https://canamcurrencyexchange.com/al1701a BUY JOHN SNEISEN'S LATEST BOOK HERE: Paperback https://www.amazon.com/dp/1988497051/ref=zg_bs_tab_pd_bsnr_2?_encoding=UTF8&psc=1&refRID=ZBK6VTXQRA2F77RYZ602 Kindle https://www.amazon.ca/dp/B073V5R72H/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1500130568&sr=1-1 DONATE HERE: https://www.gofundme.com/w3e2es Help keep independent media alive! Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU World Alternative Media 2017 "Find the truth, be the change!"
Просмотров: 9740 World Alternative Media
Consumer Mortgage Resources - Making Home Affordable
Patrick Murcia, Fannie Mae's Director of Community Development, details the Making Home Affordable Program at the July 25, 2009 "Crisis to Recovery Resource Fair" sponsored by Congresswoman Jackie Speier and San Francisco Supervisor Carmen Chu. (Part 1 of 3)
Просмотров: 747 Jackie Speier
Obama's Loan Modification Plan: "What Does it Mean?"
http://www.60minuteloanmodification.com Loan Modification expert Mike Rockwood explains President Barak Obama's Housing Rescue plan and how it may help distressed homeowners get a Loan Modification. But he cautions that there is simply not enough money in the bailout to nearly do the job. Homeowners must act now. For a free CD on Author Mike Rockwood's experience modifying 5 of his own home loans - and how you can too - please visit our Website at http://www.60minuteloanmodification.com
Просмотров: 378 Ryan Rockwood
911 Conspiracy Solved Names,Connections,Details Exposed! Follow The Money!
Check Out My INFO WAR - DOCUMENTARIES PLAY LIST http://www.youtube.com/playlist?list=PLZWK79zvK-Z3raAqBgpQoFzyjsEqkNA9Y Please visit the FACEBOOK page http://www.facebook.com/WeWontGetFooledAgain Was 9/11 really an Inside Job? After reviewing this documentary, and checking the evidence, I think the answer will be clear to you. Special thanks to Michael C. Ruppert, Mark H. Gaffney, and Kevin Ryan for solving the crimes of 9/11 with their amazing research. This video is a compilation of evidence they have uncovered. UNITED States of America - It is important to remember that the 9/11 Black Op was staged ten (10) months after the Bush-Cheney-NAZI Paperclip NSA theft of the year 2000 presidential election. It is also important to remember that the illegal NAZI Paperclip NSA spying started the day after the illegal inauguration of Bush and Cheney in January of 2001. Note: 9/11 was Bush FRAUD's NAZI German style Reichstag fire and after Bush FRAUD rammed the illegal UN-Constitutional Patriot Act (that was actually written in advance of 9/11) down the throats of Congress resulting in the immediate shredding of the U.S. Constitution and a pseudo declaration of Martial Law that continues to this day with current alleged President Barack Obama administering the occupation. Reference: It is also important to remember that Bush FRAUD's Patriot Act aka Bush's NAZI German Enabling Act gave the U.S. Federal Reserve and crooked U.S. banks emergency control over the U.S. Treasury. Bush then blew out $7.3 TRILLION out of the U.S. Treasury with his illegal UN-Constitutional war in Iraq (there were NO weapons of mass destruction). Bush and his British fellow war criminal counter party, Anthony Blair, both need to be arrested. Bush and his criminal Treasury Secretary Henry 'Hank' Paulson then destroyed the U.S. economy allowing crooked U.S. banks to issue and trade (derivatives) on fraudulent mortgage-backed securities that wiped everything out in September of 2008. The massive Wipe Out then led to a massive TREASONOUS Bush FRAUD - Nancy Pelosi Ponzi Bail Out by the American Taxpayers. P.S. At this hour Chinese banks remain broke with ass backwards worthless derivatives tied to HSBC Hong Kong and U.S. Bank of America. Obviously this doesn't tell us everything about 9/11, but it's nevertheless a very good summary of many connections that clearly show the official story to be little more than a Disney fantasy production.
Просмотров: 6504 We Wont Get Fooled Again
Wall St. Won't Buy Bailout
The lack of details in the White House's announcement of bailout plans worried bankers, sending Wall Street into a plunge, reports Jeff Glor.
Просмотров: 257 CBS
The Infamous Bail-out Of Fannie and Freddie
UPDATE: Government may soon back troubled mortgage giants By ALAN ZIBEL, AP September 6, 2008 WAS. - The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage deb... Some of the details of the intervention, which could cost taxpayers billions, were not yet available,... The news, first reported on The Wall Street Journal's Web site, came after stock markets closed. In after-hours trading Fannie Mae's shares plunged $1.54, or 22 percent, to $5.50. Freddie Mac's shares fell $1.06, or almost 21 percent, to $4.04. Common stock in the companies will be worth little to nothing after the government's actions. The news also followed a report Friday by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June. That confirmed what investors saw in Fannie and Freddie's recent financial results: trouble in the mortgage market has shifted to homeowners who had solid credit but took out exotic loans with little or no proof of their income and assets. Fannie Mae and Freddie Mac lost a combined $3.1 billion between April and June. Half of their credit losses came from these types of risky loans with ballooning monthly payments. Critics say the open-ended nature of the rescue package could expose taxpayers to billions of dollars of potential losses. Supporters, however, argue the Bush administration had little choice but to support Fannie and Freddie, which together hold or guarantee $5 trillion in mortgages — almost half the nation's total. Concern has been growing that a government rescue of Fannie and Freddie could not only wipe out common stockholders, but also be costly for scores of investment, banking and insurance companies that hold billions of dollars in their preferred shares. Fannie Mae was created by the government in 1938, and was turned into a shareholder-owned company 30 years later. Freddie Mac was established in 1970 to provide competition for Fannie. But the epic decision highlights the size of the threats facing the housing market and the economy. On Friday, Nevada regulators shut down Silver State Bank, the 11th failure this year of a federally insured bank. And earlier this year, the government orchestrated the takeover of investment bank Bear Stearns by JP Morgan Chase. news.yahoo.com/s/ap/20080906/ap_on_bi_ge/mortgage_giants_crisis ~~~~~~~~~~ The Republican Party have contended for some 30 odd years or so that anything appearing to slant towards socialism is EVIL. Feed a hungry child NO THAT'S SOCIALISM not with my dollar you won't. Universal Health Care NO THAT'S SOCIALIZED MEDICINE, I want no part of that. Those without insurance are lazy and have too many kids anyway, why should I care about them". The "R" Party's collective mantra is a loud MAKE GOVERNMENT SO SMALL YOU CAN DROWN IT IN A BATHTUB. But when it comes to Corporate bail-outs, which is another name for Corporate Socialism QUICK PULL THAT GOV-GUY OUT OF THE TUB AND APPLY Cardiopulmonary resuscitation (CPR)... It's enough to blow your mind! I've put together some TV clips and article excerpts to illustrate the hypocrisy of our government. A short saga of the U.S. Bail-out of two mortgage giants Freddie Mac and Fannie Mae. I guess the SHOW MUST GO ON. -- thinkingblue PS: Next time you hear an "R" person yodel "IT'S NOT OUR DUTY TO HELP THE POOR", and "WE WON'T STAND FOR UNIVERSAL HEALTH CARE". Tell them to think about all the Big Bucks, Your Bucks, My Bucks, our government has spent bailing out the many Fat Cats and see if they will then say "Socialism is a dirty word, it's EVIL!". Yeah, right, but only if you're POOR.
Просмотров: 4264 thethinkingblue
[681] Deutsche Bank hit with $14 billion mortgage fine
The U.S. is slapping Deutsche Bank with a $14 billion mortgage-backed securities related fine. Ameera David has the details. Then, RT Correspondent Peter Oliver reports from Berlin on the EU leaders summit in Bratislava, Slovakia, where German Chanellor Angela Merkel said that European Union is in a ‘critical situation.’ Alex Mihailovich then joins from Toronto with disappointing Canadian manufacturing data, and Bianca Facchinei reports on an IMF study on how war has ravaged Middle Eastern economies. After the break, Victor Matheson, professor of economics at the College of the Holy Cross, breaks down FIFA’s corruption troubles, and how the NFL is dealing with concussion backlash. And finally, in The Big Deal, Edward Harrison looks at the German reaction to the TTIP and CETA trade deals, which are receiving frosty welcomes from citizens. Take a look! Check us out on Facebook -- and feel free to ask us questions: http://www.facebook.com/BoomBustRT https://www.facebook.com/harrison.writedowns https://www.facebook.com/biancafacch Follow us @ https://twitter.com/AmeeraDavid http://twitter.com/edwardnh https://twitter.com/BiancaFacchinei
Просмотров: 8311 Boom Bust
US President statement on financial bail out plan
SHOTLIST 1. US President George W Bush walks to the podium. 2. SOUNDBITE: (English) George W Bush, US President "Good morning. My administration continues to work with the congress on a rescue plan and we need a rescue plan. This is hard work, our proposal is a big proposal and the reason it's big and substantial is because we've got a big problem. We also need to move quickly. Now anytime you have a plan this big, that is moving this quickly, that requires legislative approval it creates challenges. Members want to be heard, they want to express their opinions and they should be allowed to express their opinions. There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done. The legislative process is sometimes not very pretty, but we are going to get a package passed, we will rise to the occasion. Republicans and Democrats will come together and pass a substantial rescue plan. Thank you very much" 3. Bush walks away from podium STORYLINE US President George W. Bush made fresh appeal on Friday for Congress to move quickly on his proposal for a 700 (b) billion US dollar program to stabilise the U.S. financial markets. Speaking at the White House, the day after an apparent agreement on the broad outline of a relief bill fell apart, Bush called on both parties to rise to the occasion. Bush said he expected that individual politicians would have disagreements about the details of the plan but said there was no choice but to act, promising "we are going to get a package passed." Democrats claim Bush was scrambling to bring rebellious members of his own party behind the multi-billion US dollar bailout. The rescue package would remove (b) billions of dollars of bad mortgages and other risky assets off the books of financial firms, in a bid to free up lending and revive the economy. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/adce383aaecb52826da1c92db35ac5d2 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Просмотров: 8 AP Archive
Would Obama's Refinancing Plan Boost Ailing Housing Market?
With millions of Americans "underwater" on their mortgages and millions of homes facing foreclosure, President Obama unveiled a revamped home-loan refinancing program Monday during a stop in Nevada, which has the country's highest foreclosure rate. Judy Woodruff and guests examine the politics and substance of the plan.
Просмотров: 1963 PBS NewsHour
Obama Housing Stimulus Plan
Obama announced his action plan to revive the housing industry. The focus is to assist current home owners with there current mortgage, whether it is a refinance or loan modification. Also additional money will be used to purchase mortgage back securities to maintain mortgage rates in there current position. The plan has a deadline of March 4 but details still have not been announced.
Просмотров: 1030 The Mortgage Reel
A Principal Mortgage Reduction Conversation
Loretta talks to a client about what the process is in mortgage reduction service that her company does for families. For more details visit: http://www.fixmymortgage.biz
Просмотров: 255 FixMyMortgage
Bailout Version 2.0
Panel 1 Bailout Version 2.0 Timothy Geithner US$1 tln bad bank Public/Private Feb 11, 2009 Panel 2 US$1 trillion To kick-start lending Mortgage bonds Market reaction brutal Not enough detail Dow down 350 pts Feb 11, 2009 Panel 3 Despite stimulus passing Through Senate Gold options Over US$1,000/oz Feb 11, 2009
Просмотров: 268 ofInterestNZ
Paulson Rolls Out Details on Bank Buy-in Plan
Treasury Secretary Henry Paulson said the government will own shares in the banks that should be paid back with a reasonable return, and expects that the $250 billion investment will eventually make money on its investments. (Oct. 20)
Просмотров: 158 Associated Press
Bailout 6: Getting an equity infusion
The bank gets bailed out by an equity infusion from a sovereign wealth fund. More free lessons at: http://www.khanacademy.org/video?v=jDNalKBb3aA
Просмотров: 58339 Khan Academy
NBC6 - "how to avoid mortgage modification fraud"
NBC6 news on mortgage modification fraud Mortgage fraud how to modify your home loan obama home affordability plan avoid fraud
Просмотров: 397 NewNewsInfo
Housing Secretary Outlines Obama Mortgage Refinance Plan
Secretary of Housing and Urban Development, Shaun Donovan answers questions from the press about President Obama's plan to help families who are having trouble meeting their mortgage payments. Donovan told the press: "There were a number of pieces to what the President talked about today, but most importantly, he talked about middle-class families who have been playing by the rules, doing everything right, paying their mortgages on time, and have not been able to benefit from record-low interest rates. Through strong administrative action, as part of our We Can't Wait efforts across the administration, last fall we took very important steps to open up refinancing for Fannie Mae and Freddie Mac borrowers who are underwater. But today we still have too many families who may live next door to a family that, just like them, is paying their bills on time with their mortgage, and only because they have a Fannie Mae or a Freddie Mac or an FHA mortgage, they've been able to lower their bills by an average of $3,000, and as a result help not only themselves, their neighborhood, but also the economy more broadly. And yet we have other families who are in exactly the same position, been responsible, and yet because they don't have a Fannie Mae or a Freddie Mac or an FHA mortgage, have been unable to benefit from the lowest interest rates in half a century. As the President said in his State of the Union, we need to get back to American values that are about everybody being responsible, playing by the same set of rules, and everybody having a fair shake if they're doing the right thing and being responsible. That's what fundamentally this announcement was about today -- was making sure that those families, any family that's doing the right thing, can benefit from the record-low interest rates that we have today. The second main point that he made was about needing strong, clear rules of the road for how our mortgage system is going to operate going forward. And so he announced a Homeowner Bill of Rights that will make sure that when a family is making the single-most important economic decision of their lives, purchasing a home, that they will get fair, simple, transparent treatment. No hidden fees; clear explanation on a single, short form of what they are signing up for, without conflicts of interest. And not only when they buy their home but as they pay their mortgage over time, as a mortgage is what we call serviced by an institution after they bought that home, that they can expect to be treated fairly and transparently as well. No more lost paperwork while they are trying to get help. No more getting a foreclosure notice while they?re negotiating with their servicer because they?ve lost their job or had a medical emergency, and a very clear right of appeal where they may be going through a foreclosure if they?ve been treated wrongly or wrongly foreclosed on. Those are the simple, straightforward principles that were in that Homeowner Bill of Rights, and that was the other major piece of what the President talked about this morning."
Просмотров: 363 Michael McIntee
Debating Obama's Housing Plan
Bob Schieffer spoke with Secretary of Housing and Urban Development Shaun Donovan about criticisms over President Obama's newly proposed mortgage plan.
Просмотров: 110 CBS News
The Truth About the Bailout
Consumer advocate and Presidential candidate Ralph Nader speaks in Portland Ore. concerning the details behind the taxpayer bailout plan for wall street. Get informed! Camera work by Craig Hennecke and Jeff Bugbee
Просмотров: 429 HarryButtle
Theresa May Activates SECRET PLAN! Details Revealed Here!
LOOK THROUGH MY BOOKS!: http://books.themoneygps.com SUPPORT MY WORK: https://www.patreon.com/themoneygps PAYPAL: https://goo.gl/L6VQg9 BITCOIN: 1MbAUXsHa8XRFMHjGurd7L5nRDYJYMQQmq Steemit: https://steemit.com/@themoneygps MY FREE eCOURSE - Financial Education Taught in Simple Illustrative Videos: http://themoneygps.com/freeecourse ******************************************************************** Sources: https://goo.gl/UpprQe In This Episode: Theresa May Activates Secret Plan! Details Revealed Here!
Просмотров: 6501 The Money GPS
Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929. But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace. Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over. We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism. http://www.RebelMystic.com
Просмотров: 1876794 Rebel Mystic
Bailout 7: Bank goes into bankruptcy
What happens when there is no equity infusion and the bank goes in to bankruptcy. More free lessons at: http://www.khanacademy.org/video?v=MdIfefLcdoU
Просмотров: 61598 Khan Academy
Obama Administration Cover-up of the 2008 US Bank Bailout (Non)Disclosures
President Obama's Bailout Director Lawrence Summers failed to disclose his conflicts of interest to the American public. He did not disclose that bailout beneficiaries Goldman Sachs and Morgan Stanley represented his former employees and protégés Sheryl Sandberg (Facebook) and Yuri Milner (DST-Moscow). In other words, Larry Summers had material undisclosed relationships on both sides of the bailout, thus deceiving the public about his objectivity.
Просмотров: 281 Georgia Beardslee
Ailing Homeowners Could Soon Get Boost
PlusAiling Homeowners Could Soon Get BoostAiling Homeowners Could Soon Get BoostThe Associated PressCongress signs off on a massive housing bill that may offer relief for 400,000 strapped homeowners and two troubled mortgage giants. The Senate passed a bill in a rare Saturday session. (July 26)[Notes:ANCHOR VOICE] [Notes:VO housing file][Notes:VO Senate chambers] IT IS THE MOST SIGNIFICANT HOUSING LEGISLATION IN DECADES ... APPROVED SATURDAY BY THE U-S SENATE IN A RARE WEEKEND SESSION.THE $3.9 BILLION DOLLAR-PACKAGE IS DESIGNED TO HELP NEIGHBORHOODS HIT HARD BY THE HOUSING CRISIS ... ALLOWING PROPERTIES TO BE BOUGHT AND RENOVATED. [Notes:SUPER: Sen. Chris Dodd / D-Connecticut][Notes:12:12:28]SOT: Today for the 8 or 9 thousand people who again face a foreclosure notice, we're stepping up. We're getting something done for them. I can't promise it's going to work in every detail, I can't promise we've designed a silver bullet here.PRESIDENT BUSH IS EXPECTED TO QUICKLY SIGN THE BILL ... ALTHOUGH HE HAS RESERVATIONS.THE LEGISLATION ALLOWS THE GOVERNMENT TO HELP AILING MORTGAGE COMPANIES FANNIE MAE AND FREDDIE MAC ... ALL TO PREVENT THESE PILLARS OF THE HOME LOAN MARKET FROM FAILING.HOMEOWNERS COULD ESCAPE FORECLOSURE BY GETTING MORE AFFORDABLE LOANS BACKED BY THE FEDERAL HOUSING ADMINISTRATION.THE BILL HAD STRONG BACKING FROM DEMOCRATS ... BECAUSE IT CREATES AN AFFORDABLE HOUSING FUND AND OFFERS NEIGHBORHOOD GRANTS. REPUBLICANS CALL IT A BAILOUT OF RECKLESS HOMEOWNERS AND SHADY LENDERS. [Notes:SUPER: Sen. Kay Bailey Hutchison / R-Texas][Notes:10:01:36]SOT: The U.S. Senate can and should spend time debating these issues and improving the bill instead of rubber stamping additions that impose a taxpayer liability of billions and maybe trillions.BUT NOW ... A PROMISE OF HELP FOR THE NATION'S HOUSING MARKET THAT IN TURN MAY HELP STABILIZE A WOBBLY ECONOMY. ___ ___, The Associated Press.(****END****) ANCHOR VOICE:-------------------------VIDEO PRODUCER: Lee Powell------------------------------VIDEO SOURCE: Pool, file--------------------------VIDEO APPROVAL:------------------------------VIDEO RESTRICTIONS:----------------------------------SCRIPT/WIRE SOURCE: Congress-Housing, 6th------------------------------------
Просмотров: 1119 Associated Press
Sept 19th Video Mortgage & Financial Market Update
See video for details
Просмотров: 52 Deplorable Warrior
Real Estate Marketing - Foreclosures, Loan Modifications and Government Bailout Plans - Part 3
http://realestatemarketingthisweek.com - Real Estate Marketing - Foreclosure rates on Forbearance Agreements done with banks reaches 58% - With Michael J Barnes and Dan Havey of Real Estate Marketing This Week Part 3 - In studio with us today on this fine New years eve is Dan Havey, the co founder of the modification hotline as well as the author of The Foreclosure Sharks a great white paper he put together. He is also the author of Real Estates Future and this segment we are talking about loan modifications and some specific information. You also have a great story to tell about this to. Well unfortunately I have too many stories about people who have had to go through foreclosures, bankruptcies, loan modifications. The one story I want to talk about real quick is a friend of mine who unbeknownst to me went out and did a loan modification on her own and not to get into a whole bunch of technical details on it she ended up getting a pretty decent interest rate because they actually cut her mortgage payment in half and she was pretty happy about that. She owed a little bit more than the house was worth, she wasnt terribly upside down, but by the time they got done with her she certainly was going to be because the modification, and actually I should not call it a modification, I should call it a forbearance agreement, what they did to her was to say, OK we will cut your interest rate in half, we will cut your monthly payment in half, but we will take all of that deferred interest and tack it onto the back end of the loan. So that by the time her interest rate went back to where it had been, it was going to adjust up over the next five years, so that within that five year time period she was actually going to owe $60,000 in back interest on top of the principal balance that she had before she went to go talk to her bank. What kind of a deal is that? I didnt think it was a very good one and she ended up eventually not taking it and just recently let the house go back to the bank, because she just looked at it and said, Wait a second here, I am already $20,000 upside down, by the time Im done with you guys I will be $80,000 upside down and so great I get a cheaper payment for a while. She moved into a rental property that was even cheaper then what she would have had to pay to stay in the house and from what she tells me the house is nicer. Some of the unfortunate scenarios that come up that we get to see. Unfortunately we talk to lots of people that have similar situations, trying to do these on their own and it is possible to do a loan modification on your own. We know that, the program is designed for you to do that. The problem is it generally does not work out. The re-default rate on loan modifications done on your own is significantly higher than loan modifications facilitated by an attorney that is representing you, for a number of reasons. Number one you have to pay an attorney to represent you. The other is that I think you are going to get a better modification based its not just a negotiation between you and the loss mitigation department for the bank. We are talking about using a professional attorney who is a trained negotiator to negotiate on your behalf with another attorney. By the way, theyre not talking to the same loss mitigation people in India that you may be talking too. Here are some numbers that just came out from John Dugan who is the Office of the Comptroller of the Currency and they did a study of the loan modifications that have been done to date. In many cases these were forbearance agreements, not loan modifications. If an individual talks to his bank, generally speaking he will not get the same as result as what an attorney would do, so most of these are really forbearance agreements. And in that case, 36% had defaulted or were 30 days past due after 6 months and 58% were in default after 8 months. Again that is 58% in default after eight months and I saw some numbers the other day and unfortunately I didnt bring them in with me today, that according to some study of the very few modifications that have been done using an attorney, I say very few, but it is still thousands or tens of thousands, but few compared to what is getting done directly with the bank, the number is only like 5% of the ones done with an attorney have re-defaulted and again I dont have the numbers with me so I cant site the source... http://realestatemarketingthisweek.com/foreclosure-rates-on-forbearance-agreements-reaches-58/
Просмотров: 4701 Dan Havey
Просмотров: 273 payraise1
Finance CEOs on the Use Federal Funds by Financial Institutions Part 3 (2009) 2017
TARP will operate as a "revolving purchase facility." The Treasury will have a set spending limit, $250 billion at the start of the program, with which it will purchase the assets and then either sell them or hold the assets and collect the coupons. The money received from sales and coupons will go back into the pool, facilitating the purchase of more assets. The initial $250 billion can be increased to $350 billion upon the president's certification to Congress that such an increase is necessary.[6] The remaining $350 billion may be released to the Treasury upon a written report to Congress from the Treasury with details of its plan for the money. Congress then has 15 days to vote to disapprove the increase before the money will be automatically released.[5] The first $350 billion was released on October 3, 2008, and Congress voted to approve the release of the second $350 billion on January 15, 2009. One way that TARP money is being spent is to support the "Making Homes Affordable" plan, which was implemented on March 4, 2009, using TARP money by the Department of Treasury. Because "at risk" mortgages are defined as "troubled assets" under TARP, the Treasury has the power to implement the plan. Generally, it provides refinancing for mortgages held by Fannie Mae or Freddie Mac; during the Federal takeover of these two enterprises, the Federal government provided a $317 billion asset relief, dwarfing the TARP bailout program.[7] Privately held mortgages will be eligible for other incentives, including a favorable loan modification for five years.[8] The authority of the United States Department of the Treasury to establish and manage TARP under a newly created Office of Financial Stability became law October 3, 2008, the result of an initial proposal that ultimately was passed by Congress as H.R. 1424, enacting the Emergency Economic Stabilization Act of 2008 and several other acts. On March 23, 2009, Geithner announced a Public-Private Investment Program (P-PIP) to buy toxic assets from banks' balance sheets. The major stock market indexes in the United States rallied on the day of the announcement rising by over six percent with the shares of bank stocks leading the way.[25] P-PIP has two primary programs. The Legacy Loans Program will attempt to buy residential loans from bank's balance sheets. The Federal Deposit Insurance Corporation (FDIC) will provide non-recourse loan guarantees for up to 85 percent of the purchase price of legacy loans. Private sector asset managers and the U.S. Treasury will provide the remaining assets. The second program is called the legacy securities program, which will buy residential mortgage backed securities (RMBS) that were originally rated AAA and commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) which are rated AAA. The funds will come in many instances in equal parts from the U.S. Treasury's TARP monies, private investors, and from loans from the Federal Reserve's Term Asset-Backed Securities Loan Facility (TALF). The initial size of the Public Private Investment Partnership is projected to be $500 billion.[26] Economist and Nobel Prize winner Paul Krugman has been very critical of this program arguing the non-recourse loans lead to a hidden subsidy that will be split by asset managers, banks' shareholders and creditors.[27] Banking analyst Meredith Whitney argues that banks will not sell bad assets at fair market values because they are reluctant to take asset write downs.[28] Economist Linus Wilson, a frequent commenter on TARP related issues, also points to excessive misinformation and erroneous analysis surrounding the U.S. toxic asset auction plan.[29] Removing toxic assets would also reduce the volatility of banks' stock prices. This lost volatility will hurt the stock price of distressed banks. Therefore, such banks will only sell toxic assets at above market prices.[30] On April 19, 2009, the Obama administration outlined the conversion of Banks Bailouts to Equity Share. http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program 2017
Просмотров: 17 bsk
WATCH-Congresswoman says to squat in foreclosed houses!!!!-2/4
Rep. Marcy Kaptur (D-OH) Urges Homeowners to Stay in Foreclosed Homes After an $850 billion bailout for Wall Street and another $25 billion for the auto industry, struggling homeowners still await large-scale government assistance. The Obama administration says it’s working out the details of its plan to stem foreclosures. In the absence of government action so far, some are taking action on the local level. In Michigan, Wayne County Sheriff Warren Evans announced Monday he won’t enforce sales of foreclosed homes. And in Ohio, Rep. Marcy Kaptur is encouraging homeowners facing foreclosures to stay in their homes. Meanwhile, the government-backed mortgage giant Fannie Mae has agreed to restructure mortgages after a campaign led by one of its biggest critics, the Neighborhood Assistance Corporation of America. [includes rush transcript]
Просмотров: 566 Donovon Ceaser
Strategic Default Help- Jumbo loan refinance. Save your credit and home!
Want to refinance that Jumbo loan, http://MFGCapitalFunding.com but there is no help other than Strategic Default? We have a solution to regain equity in your home. Keep your credit intact and shave thousands off your current mortgage. This fast and simple process can get you back right side up in your home. Don't contemplate a Strategic Default until you have seen our solution. Call (850) 368-7177 or check this video to see if you qualify. http://www.youtube.com/watch?v=ZECBmBQI6Ok Jumbo Mortgages May Be Next In Line To Default Do you have a big mortgage and good credit but not much equity -- maybe you are even underwater? Do you see little chance that your homes market value will improve much during the coming 3 to 7 years? If you answered yes to both those questions -- and thousands of homeowners across the country could- you are in a category that lenders need to worry about MOST! Prime Jumbo borrowers who once were thought of to be among the safest bets, now are the most likely to opt for a strategic default and walk away from their homes. That's because an exceptionally high number of jumbo owners -- many in high-cost markets hit by real estate deflation over the past several years- are stuck with persistent negative equity. More than half of the jumbos analyzed by Moody's where owners are still making payments have home market values lower than their outstanding loan balances. Meanwhile FICO says strategic defaults -- in which owners who CAN afford to keep paying their loans, but see no economic rationale for doing so and stop making payments -- continue to be a "Growing Problem." The estimated number of mortgages underwater is at least 12 million, and 30% of all defaults on loans are strategic, according to Joanne M. Gaskin, FICO's predictive analytics director. At least 4 of the 10 largest lenders are contacting these high-risk borrowers and offering financial solutions plus information about the costs associated with strategic walkaways. "How much have I lost on the value of my home?" "What is the velocity of change?" That is, "how fast have I lost market value, and is my situation getting worse?" And, "How long will it take to recapture what I've lost?" These are the questions Jumbo home owners are asking themselves right now and when the answers are grim and the prospects for equity recovery distant, the probability that the owners will plot a strategic departure goes sharply up. Most consumers have a pretty good idea of what the market is doing in their local neighborhoods, but what they don't often know, however, are the penalties they face for walking away. These include Triple-Digit drops in credit scores- which will hamper their ability to rent a house or obtain credit for years- plus the possibility that lenders will find a way to seek recovery of what they owe after the foreclosure proceedings. Ultimately, strategic default for many owners boils down to a calculation... Are the costs, financial and otherwise, worth the relief from an albatross mortgage? Thousands of jumbo borrowers are struggling with that calculation right now, and a lot of them are likely to bail. But, what if there were a solution that allowed the home owner to save hundreds of thousands off their mortgage, keep their good credit, regain some equity, keep their home and not worry about getting a 1099 from the bank for the loss in the mortgage value. Well, there is a way. We can help jumbo loan holders get the solutions they need to change their situation and avoid foreclosure and ruining their credit for years. This is NOT a loan modification or a short sale which DOES ruin your credit. To find out more call today 850 368 7177 to see if you qualify to save hundreds of thousands on your mortgage and take back control of your home and your life. Please take a moment to share this video with your friends and family who you know are struggling with these tough questions and calculations right now and are considering walking away. Pick up the phone and get them to watch this video, or share on Facebook and Twitter and let them know there is a solution. Thank you for watching and we look forward to hearing from you soon and solving your upside down mortgage problems. Call now 850-368-7177 for more details before it's too late. http://MFGCapitalFunding.com
Просмотров: 26602 BuyDestinRealEstate
Congress members and analyst on talks over bailout of financial system
1. Various of Speaker of the US House of Representatives Nancy Pelosi, entering house chamber 2. Cutaway of House chamber 3. SOUNDBITE (English) Dennis Kucinich, Democratic Congressman for Ohio: "Industrial capitalism can finally be destroyed as we finish hallowing out our economy by substituting casino socialism where the only real product is debt." 4. House chamber 5. SOUNDBITE (English) Peter DeFazio, Democratic Congressman for Oregon: "As Mr. Issacs, the former head of the FDIC (Federal Deposit Insurance Corporation) says, 'having financial institutions sell the loans to the government at inflated prices so that the government can turn around and sell the loans to well healed investors at lower prices, strikes me as a very good deal for everyone but US tax-payers. Surely, we can do better.'" 6. Wide of interior of US Senate chamber 7. SOUNDBITE (English) Arlen Specter, Republican Senator for Pennsylvania: "It is my hope that the Congress will act in a way which will be effective after we have given the entire matter appropriate consideration." 8. Top shot of interior of US Senate chamber 9. SOUNDBITE (English) Arlen Specter, Republican Senator for Pennsylvania "As to the proposal of the 700 billion dollars I believe we have not yet had a sufficiently specific description of why that figure. It is a gigantic figure and the public response, understandably, is why?" 10. Set up of economist Jagadeesh Gokhale 11. SOUNDBITE (English) Jagadeesh Gokhale, Economist, Cato Institute: "Everything is up in the air. My problem with this whole thing is the way it's being described and the aggressiveness with which the programme was sold by the administration itself may worsen the problem because if banks come to expect this injection of funds then they will wait for it and continue their current sluggish lending policies." 12. Shot of Gokhale walking down the hall STORYLINE: Senators and Congressman from both sides of US politics voiced their criticism of the planned 700 (b) billion rescue package for Wall Street on Saturday, despite claims from negotiators that they hope to reach agreement on the deal by the end of the weekend. In a fiery session in the House of US Representatives, Ohio congressman Dennis Kucinich suggested the package was sending America towards "casino socialism, where the only real product is debt". While in the Senate, Pennsylvania Republican Arlen Specter said questions still remained unanswered over the size of the investment for taxpayers. The bailout plans to rescue Wall Street bankers from the bad loans that threaten to derail the economy and send it into a deep and long depression. The legislation the White House is promoting would allow the government to buy bad mortgages and other sour assets held by investors, most of them financial companies. That should make those companies more inclined to lend and lift a major weight off the national economy that is already sputtering. However some leading economists have questioned the validity of the rescue package, with the Cato Institute's Jagadeesh Gokhale saying "the aggressiveness with which the programme was sold by the administration .... may worsen the problem". Negotiators say they are making progress and hope to reach an agreement on a deal before Asian markets open Monday. In a sign of movement, House Republicans dispatched their second-ranking leader, Representative Roy Blunt of Missouri, to join the talks, after their objections to an emerging compromise had brought negotiations to a standstill. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/9c0f0d8d1ceb1adf75b8e8fb84c8ad85 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Просмотров: 21 AP Archive
Will The $26 Billion Mortgage Settlement Help You?
Transcription: Hello and welcome to Your Money 2.0. I'm Thomas Fox, community outreach director at Cambridge Credit Counseling. From the beginning of 2007 until early 2012, approximately 4 million families lost their homes to foreclosure. While the wave of foreclosures was unsettling, the stories that emerged in 2010 about the process being riddled with sloppy record-keeping are far more disturbing. These issues came to light because of the practice known as robo-signing through which families lost their homes based on forged or unreviewed documents. After a year of investigations and negotiations, the state attorneys general and the federal government announced a 26 billion dollar settlement with five of the biggest mortgage lenders over improprieties from robo-signing to failing to negotiate in good faith with homeowners. Those lenders include Bank of America, JPMorgan, Chase, Wells Fargo, Citigroup, and Ally Financial. How do we get here and what's this settlement offer? Let’s take a look. Over the last decade, homeownership exploded across the United States. Banks and other lenders spend billions of dollars to develop a seamless operation that took new mortgages, bundled them into securities, and sold them as investments. While, I'm not going to get into the depth of shenanigans evolved in this approach suffice it to say things that not work out is the lenders and investors had anticipated. When borrowers began to default banks found themselves in a game of catch-up and they failed to devote enough manpower to deal with the magnitude of the crisis. The institutions inability to keep up with homeowners requests for work out agreements forced them to cut corners. When lenders began robo-signing foreclosures they landed in the crosses of just about every consumer advocate and lawmaker. Instead of the required review of documents lenders had automated the process and inadvertently began foreclosing on homeowners who are not in default or owed no money. That’s the background, let's review the settlement. The terms require the five lenders to contribute at least ten billion dollars for reducing principles on loans for borrowers who are either delinquent or an imminent risk of default and are underwater, meaning they owe more on their mortgage in their home are worth. At least three billion dollars is earmarked for refinancing loans for borrowers current on their mortgages and underwater. Up to seven billion dollars will go towards other kinds of assistance, including forbearance of principal for unemployed borrows, anti-blight programs, and short sales. One of the more controversial portions of the settlement is the 1.5 billion dollars set aside for cash payments to borrows whose homes were sold or taken in foreclosure between January 1st 2008 and December 31st 2011. Officials estimate that as many as 750,000 borrowers could receive checks for 1500 to 2000 dollars, which barely covers the cost of title insurance or moving. The settlement also calls for three and a half billion dollars to be used to repay public funds loss as a result of services misconduct and to fund housing counselors, legal aid, and other public programs determined by the attorneys general. However, many states are already considering those funds to fill budget shortfalls or help with other programs such as prolong unemployment. An additional 1 billion dollars will be paid by Bank of America to resolve a separate federal investigation related to a legend wrongful conduct involving inflated appraisals of Federal Housing Administration insured mortgages. Half of that 1 billion dollars will be used to fund a loan modification program for countrywide borrowers who are underwater on their mortgages. Federal and state officials promoted the settlement as a significant step in holding the banks accountable for abusive and illegal foreclosure paperwork practices and as one will provide relief to homeowners. However despite the billions secured to help homeowners, the aide will help a relatively small portion of the millions of borrowers who are delinquent and facing foreclosure. Especially since mortgages owned by the government's housing finance agencies, Fannie Mae and Freddie Mac, will not be covered under the deal. That excludes about half of the nation's mortgages. The door is still open for further actions against the banking industry. Prosecutors and regulators still have the right to investigate other elements that contributed to the housing bubble, like the Assembly of risky mortgages into securities that were later sold to investors and soured as well as insurance and tax fraud. The official settlement has yet to be released, but we'll keep you up to date as more information becomes available. Until next time, I'm Thomas Fox for Cambridge Credit Counseling.
Просмотров: 551 Cambridge Credit Counseling Corp.
Wow! Opposing Obama Stimulus Plan "Another Rant Of The Year"
http://www.poochtips.com In answer to Rich Santelli rant about current economic crisis and the Obama stimulus package and plan. This is not a political rant like the one by representative Boehner, but instead questions that must be asked concerning foreclosures, mortgages, and the housing crisis started by Fannie Mae and Freddie Mac. Obama stimulus do too little and too much for the wrong people.
Просмотров: 4389 carlcramer44
Corrupt Bailout & Martial Law. (Part 2)
Oct. 3, 2008. Rep. Brad Sherman: Washington, D.C. - Today, Congress approved the $700 billion Wall Street Bailout Bill. Under the Bill, hundreds of billions of dollars will be used to buy toxic assets currently in safes in London, Shanghai, and Riyadh, Saudi Arabia. Bailed out Wall Street firms will use their bail out money to pay million dollars a month salaries, and to even increase them to two million dollars a month. (For details, see paper at BradSherman.house.gov.) Our economy will not do well in the months to come, and dropping $700 billion on Wall Street is not going to make things much better. But now Wall Street will use the same fear mongering tactics which were used to pass the Bill, in order to justify the bill. In order to pass the Bill, Wall Street declared that unless they received $700 billion in unmarked bills, the Dow would drop by 4,000 points and blood would flow in the streets. The passage of the Bill will have little positive economic effect, and the fall and winter will be bad times for our economy. But in the coming weeks, Wall Street will justify the Bill by saying that we averted those very same calamities they had predicted during their successful effort to create panic, and pass the Bill. The worst abuses of the Bill can be minimized if Congress, and especially the press, begins an unprecedented level of ferocious oversight: We have to make sure that Paulson spends the money and the orderly rate of less than $50 billion month (as he has promised), not at a frantic pace that spends it all by January 20th, 2009. We have to make sure that Paulson treats all financial entities fairly, whether they be firms he likes, or firms he doesnt like. (It will take incredible investigative journalism to see whether the executives of any bailed-out firms are making secret contributions to Section 527 organizations, which are responsible for a big chunk of todays political advertising). When a firm receives a billion dollars in bail-out cash, we must report on which of its executives are receiving that cash in the form of salaries in excess of $1 million a year. (The bill allows unlimited salaries to be paid by bailed-out firms, and does not contain a provision preventing the bail-out cash from being used to pay those salaries.) Each time a U.S.-headquartered entity sells billions of toxic assets to the Treasury, we must ask whether that U.S. entity is just acting as an intermediary. We must ask whether those toxic assets were in foreign safes on September 20th, 2008. We must be aware of the China two-step (described in a paper at BradSherman.house.gov), in which a foreign investor who made bad business decisions can sell toxic assets to a U.S. entity on Monday, and Paulson can buy those toxic assets with taxpayer dollars on Tuesday. No one will ever be able to prove that the Bailout Bill helped or hurt our economy during the coming fall and winter. Only two things are certain: the bill will provide hundreds of billions of dollars to investors who made bad decisions and Wall Street executives; and our children and grandchildren will now face a national debt that is hundreds of billions of dollars higher. Source: http://www.house.gov/list/press/ca27_sherman/morenews/BailoutStatement.html ______________________________________ PART 1: http://www.youtube.com/watch?v=nBD7DtIFCHo PART 2: http://www.youtube.com/watch?v=FqcsUCWaxis PART 3: http://www.youtube.com/watch?v=r-mhUJwH1rk PART 4: http://www.youtube.com/watch?v=wsb2w886xSg ______________________________________ Oct. 3, 2008. PDF link description: Million-Dollar a Month Salaries Continue. Tens of Billions to the Bank of China. Be Skeptical of Senate Bailout Bill, by Congressman Brad Sherman. PDF: http://www.house.gov/sherman/081001comprehensive_article.pdf ______________________________________ Oct. 1, 2008. Strong accusations from Representative Brad Sherman, from the 27th district of California. He claims that some congressmen and women were told that martial law would be passed if Congress did not pass the close-to-one-trillion dollar bailout package for Wall Street. Source: http://westernstandard.blogs.com/shotgun/2008/10/rep-brad-sherma.html ______________________________________
Просмотров: 2640 jakoxn
DeMint on Bailout (total raw footage)
This is an exclusive interview of Senator Jim DeMint by ALG News on 12-10-2008. The entire interview (with some extra footage beforehand) is contained.
Просмотров: 2289 Americans for Limited Government
Christopher Dodd on Bailout
Countrywide Chris speaks out
Просмотров: 235 WillyBCoyote
Monte dei Paschi - World's Oldest Bank Bailed Out (545 Years Old)
Subscribe and share the RTD news updates... RTD News keeps you up to date on what's happening around the globe. Thanks for watching this important update, Monte dei Paschi - World's Oldest Bank Bailed Out (545 Years Old). Information to help you become more monetarily aware. To view all of the news articles from this episode visit the RTD blog here: https://www.rethinkingthedollar.com/monte-dei-paschi-worlds-oldest-bank-bailed-out/ If you would like to support the RTD channel which would allow me to provide more interviews and news updates please consider donating the cost of 2 grams of silver ($1) or more here: https://paypal.me/RTDeducation Visit GoldMoney.com to set up a FREE gold savings and spending account today. Get a debit card to use alongside your fiat currency card and get back to sound money practices. Click here to get started and support RTD by making your first deposit: https://www.Goldmoney.com/r/tx7Pa0 *********** RTD UNIVERSITY *********** A new monetary paradigm starts by visiting the RTD University website. Choose from over 30+ hours of monetary and financial interviews from experts that will help you think beyond the pending dollar demise - http://bit.ly/RTD_University
Просмотров: 1131 Rethinking The Dollar
Barney Franks Junk Assets (part1)
Barney Frank joins Charlie Rose to discuss his view of the causes of our current economic crisis and details of the massive Wall Street bailout. Frank explains that if only the government buys and holds the junk financial assets (mortgage, HELOC, credit card, auto, and education debt securities) the credit markets would flow again and the government would inevitably turn a profit. Sure good one!
Просмотров: 822 chachiarkola
WATCH-Congresswoman says to squat in foreclosed houses!!!!-1/4
Rep. Marcy Kaptur (D-OH) Urges Homeowners to Stay in Foreclosed Homes After an $850 billion bailout for Wall Street and another $25 billion for the auto industry, struggling homeowners still await large-scale government assistance. The Obama administration says it’s working out the details of its plan to stem foreclosures. In the absence of government action so far, some are taking action on the local level. In Michigan, Wayne County Sheriff Warren Evans announced Monday he won’t enforce sales of foreclosed homes. And in Ohio, Rep. Marcy Kaptur is encouraging homeowners facing foreclosures to stay in their homes. Meanwhile, the government-backed mortgage giant Fannie Mae has agreed to restructure mortgages after a campaign led by one of its biggest critics, the Neighborhood Assistance Corporation of America. [includes rush transcript]
Просмотров: 1440 Donovon Ceaser
TASKROW Testimonial - $130,730.79 waived on Loan Modification
For document details go to www.taskrow.com. You may be able to cut your total credit card payments by 50% and modify your mortgage with TASKROW! Fill out the form at www.taskrow.com & you could save $$$$ this month.
Просмотров: 3224 taskrow
Bailout 3: Book value vs. market value
What it means when the market value of a stock is different from its book value. More free lessons at: http://www.khanacademy.org/video?v=TUOQZjotyAQ
Просмотров: 117454 Khan Academy