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BofA Says Obama's Mortgage Program Create "Confusion" - Bloomberg
 
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Bank of America says the White House creates confusion and delay among mortgage lenders. (Bloomberg News)
Просмотров: 40 Bloomberg
Bank of America Mortgage Initiative
 
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CBS MoneyWatch's Jill Schlesinger discussed Bank of America's initiative to reduce mortgage totals for certain borrowers. The programs is by invitation only.
Просмотров: 968 CBS
BofA and Countrywide: Worst. Deal. Ever?
 
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At one time Bank of America thought it was picking up Countrywide Financial for the bargain price of $2.5 billion. WSJ's David Benoit stops by Mean Street with figures indicating the purchase might be the worst deal ever made. Photo: Getty Images. Don’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Visit the WSJ Video Center: https://wsj.com/video On Facebook: https://www.facebook.com/pg/wsj/videos/ On Twitter: https://twitter.com/WSJ On Snapchat: https://on.wsj.com/2ratjSM
Просмотров: 1604 Wall Street Journal
Bank of America Settlement Rocklin Short Sale Agent and Default Advocate Mike Rigley
 
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http://www.shortsaleandloanmod.infoRocklin Short Sale Agent and Default Advocate Mike Rigley discusses Bank of Americas latest offer to slash mortgage balances by $100,000 or more Bank of America will significantly slash mortgage balances for as many as 200,000 borrowers. As part of the $26 billion settlement reached between the five major mortgage servicers, the federal government and the attorneys general of 49 states and District of Columbia last month, Bank of America customers who qualify could see their mortgages reduced by an average of $100,000 or more, according to bank spokesman Rick Simon. Those principal reductions are much deeper than the ones originally announced as part of the robo-signing settlement deal. When the settlement was first announced, the average principal reduction was expected to reduce mortgage balances by an average of about $20,000. Among the five biggest lenders, the reductions are expected to help roughly 1 million homeowners who owe more on their homes than they are worth.The other four banks, JPMorgan Chase Citigroup, Wells Fargo and Ally Financial, are expected to reduce qualified borrowers' principal to between 115% and 125% of the value of their homes. Bank of America, meanwhile, is aiming to reduce the amount owed on a home to 100% match the current market value. Bank of America's deal only applies to the mortgages it owns and some that it services for private investors. Loans backed by government-controlled agencies like Fannie and Freddie or insured by the Federal Housing Administration are not eligible for the program. Many of the mortgages Bank of America plans to refinancecame to the bank through its 2008 acquisition of Countrywide Financial, which issued many high value loans called jumbo mortgages that exceeded the loan limits of Fannie Mae and Freddie Mac. The bank has already identified the 200,000 or so borrowers that it will offer modifications to and will start to reach out to them as soon as a D.C. federal court approves the settlement. There are incentives to do that. If the bank is able to demonstrate that it faithfully carried out the provisions of the attorneys general's foreclosure settlement -- as well as a separate settlement in which it agreed to reimburse HUD $1 billion to cover problems originating FHA loans -- over the next three years, it can be forgiven $850 million in penalty payments, said Simon.The bank has also agreed not to pursue foreclosures against any delinquent borrowers who might be eligible for a mortgagemodification as part of the settlement. It will also reform its foreclosure processing to avoid repeating robo-signing abuses, in which bank employees signed hundreds of documents a day, testifying to statements they had no knowledge of. The deal is one of a series of government-led initiatives aimed at tackling the foreclosure crisis. The latest effort came on Tuesday when the Obama administration announced a plan to reduce refinancing costs for FHA-insured loans. To get a better idea of when your Rocklinhome will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation. Call me today and sleep better tonight; you'll be glad you did If you are a homeowner who has missed payments, possibly facing foreclosure or just owe more than your home is worth please contact Mike Rigley Short Sale Specialist at 888-317-9376 or mike@norcalmortgagerelief.com for a free no obligation confidential consultation and receive the latest information on your options to avoid foreclosure and the benefits of a short sale. Learn More about Mike and his expertise at http://youtu.be/EtrjKmU9nIQ If you owe more than your home is worth, want to know how long in todays present market it will take until your home is worth what you owe? Check out our calculator at http://www.shortsaleandloanmod.info Consistently ranked as one of Northern California's top Short Sale Agents and Specialist, Mike Rigley is one of the areas premiere Certified Default Advocates. With his strong focus on assisting homeowners in need, Mike offers a straightforward no nonsense consultation designed to give you all the information and facts to enable you to make the best decision for you and your family. As every situation is different, Mike offers his insight and knowledge of the default process and all the options available to you to avoid foreclosure. Mikes experience of representing both homeowners in distress avoid foreclosure and his insider knowledge of the default process makes' Mikes experience unique. Trained and personally coached by the former Chief Loss Mitigator of IndyMac bank, Mike understands what the banks are looking for and how best to assist you in your time of need. Call Mike today toll free at 888-317-9376 for your free consultation and sleep better tonight
Просмотров: 76 RocklinShortSales
President Obama: "This is what a mortgage form should look like"
 
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During a speech about his new refinancing plan, President Barack Obama unveiled a new, shorter form for applying for a mortgage loan that he believes should become the industry standard. Source: West Wing Week: 2/03/12 or "Riding the Advanced Technology Superhighway" http://www.youtube.com/watch?v=DMwzn5OPglU&feature=channel_video_title Add TDC to your circles on Google+ https://plus.google.com/100134925804523235350/posts Join the conversation on Facebook http://www.facebook.com/thedailyconversation Follow The Daily Conversation on Twitter http://www.twitter.com/thedailyconvo
Просмотров: 4001 The Daily Conversation
Obama's Mortgage Rescue Plan
 
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More than 11 million homeowners are at risk of foreclosure. President Obama rolled out a new plan that he hopes will help 4 million homeowners in the next 3 years. Chip Reid reports.
Просмотров: 1445 CBS
Jim Cramer and Pete Morici: Why the Stimulus and Obama's new mortgage plan wont work
 
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12-23-2009 - Jim Cramer and Pete Morici explain why the stimulus plan wont create many jobs and why Obama's Mortgage Plan takes the wrong apporach and wont help the housing market. Essentially Rick Santelli is right that the plan needs to help all Americans not just constituent groups who got subprimes or borrowers who got caught while trying to "flip" houses. Jim Cramer is one of the people who was talking about this crisis pretty far in advance.
Просмотров: 2883 TalkerOne
What The $25B Mortgage Deal Means To America's Biggest Banks
 
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National mortgage settlement removes the foreclosure overhang, but is no panacea. Read More On Forbes: What's In Settlement?: http://onforb.es/zJ73Le Impact On Banks: http://onforb.es/whFCmQ MERS Lawsuit: http://onforb.es/xMXkGy
Просмотров: 2032 Forbes
Should Government Bail Out Big Banks?
 
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Should the government bail out big banks that may otherwise go bankrupt? Or should it let them go under, as it did with Lehman Brothers in 2008? Economist Nicole Gelinas, a fellow at the Manhattan Institute, has the answer, and it will have big implications for policymakers when they grapple with the next economic crisis. Donate today to PragerU! http://l.prageru.com/2ylo1Yt Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: https://www.facebook.com/prageru Twitter: https://twitter.com/prageru Instagram: https://instagram.com/prageru/ PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/29SgPaX JOIN our Educators Network! http://l.prageru.com/2c8vsff Script: In 2008, America experienced the biggest meltdown of its financial sector since the Great Depression. The conventional wisdom is that this failure and subsequent government rescue, commonly known as "the bailout" was brought about by three decades of bank de-regulation. There were a lot of causes for the meltdown, but deregulation wasn't one of them. Ironically, it wasn't because the banks had become unmoored from government control that led them into the financial storm, it was because they had become too closely tied to government. For three decades Uncle Sam, like an enabling parent, had always "been there" when the big banks got into trouble. The shock in 2008 was that for one brief moment, Uncle Sam wasn't there. In the wee hours of September 15, 2008, Lehman Brothers filed for bankruptcy. The financial industry waited for the Feds to step in and save Lehman bondholders like it saved those of Bear Stearns some months earlier. That didn't happen. Global financial markets seized up. As the Dow Jones Industrial average fell 498 points, or nearly 4.4 percent, financial institutions effectively went on strike. Banks wouldn't lend money to other banks and thus, indirectly, to the public because they had no idea which financial institution might go belly up next. The economy can withstand a stock-market crash, but a credit-market freeze -- essentially a cash freeze -- can cause a Depression, as credit underpins almost all business and personal activities. Indeed, some large companies, including General Electric, were so dependent on these short-term credit markets that they were in danger of not being able to pay their workers. The financial industry pleaded with the government to act. Later in the same day, September 15, it did. The Feds wouldn't save Lehman's but it would save AIG, the primary insurer of mortgage loans. A month later, the Troubled Asset Relief Program (TARP), a $700 billion plan to pump taxpayer cash into America's banks and financial institutions was approved by Congress. Public officials generally agreed that the free market had failed. In November 2008, President George W. Bush came to New York to explain why he, a Republican president, had signed TARP into law. "I'm a market-oriented guy, but not when I'm faced with the prospect of a global meltdown," he said. But free-market capitalism had not melted down. Again, the problem was not that banks had been too free, but that they had grown too dependent on government over the last few decades. Here's a brief history. America's first post-Depression bailout of a big bank came in 1984 when the Republican administration of Ronald Reagan, with help from the Federal Reserve bailed out Continental Illinois, the eighth largest commercial bank in the nation. The bailout introduced the phrase "too big to fail" to the financial media's vocabulary. For the complete script, visit https://www.prageru.com/videos/should-government-bail-out-big-banks
Просмотров: 768122 PragerU
Weak Bank Foreclosure Abuse Settlement By Obama Admin
 
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The proposed Obama Administration settlement for mortgage lenders that engaged in widespread foreclosure abuses is a weak slap on the wrist for banks according to consumer advocates and liberal activists. The Young Turks host Cenk Uygur explains. http://www.washingtonpost.com/business/economy/settlement-with-mortgage-lenders-inadequate-activists-say/2012/01/23/gIQAGNzDMQ_story.html Feds Won't Prosecute Banks Despite Evidence Of Crimes: http://www.youtube.com/watch?v=L-yqXnzBmLk Subscribe to The Young Turks: http://bit.ly/eWuu5i The Largest Online New Show in the World. Google+: http://www.gplus.to/TheYoungTurks Facebook: Twitter: http://twitter.com/theyoungturks
Просмотров: 16432 The Young Turks
Obama Foreclosure Plan: Banks Do What They Want
 
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ProPublica reports that with millions of homeowners still struggling to stay in their homes, the Obama administration's $75 billion foreclosure prevention program has been weakened, perhaps fatally, by lax oversight and a posture of cooperation—rather than enforcement—with the nation's biggest banks. Those banks, Bank of America, Wells Fargo, JPMorgan Chase, and Citibank, service the majority of mortgages.
Просмотров: 352 theGlobalReport
Nomi Prins on Bernanke's testimony, Obama's Mortgage Plan and Greece's missed "Bailout" Deadline
 
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Follow us @ http://twitter.com/laurenlyster http://twitter.com/coveringdelta Federal Reserve Chairman Ben Bernanke testified before the Senate today - last week he testified before the House - and the media wanted to hear if the "good" US jobs report, which came out since he last spoke, changes anything about monetary policy. The jobs report has been deemed "good" because the headline unemployment number went down a little to 8.3%. Bernanke actually said this understates the weakness of the labor market, but do these monthly numbers matter at all? People who crunch the numbers seem to say no. David Stockman, Ronald Reagan's former budget director in an email that's been made public wrote you basically can pick and choose what you want from the reports to support your thesis but, "In short, if you spend a little time with these numbers you will know that they are being made up." John Mauldin, financial expert was writing about something similar that these numbers are subject to large revisions up or down - so take them with a grain of salt. So if that's the case and the Bureau of Labor Statistics is the emperor wearing no clothes, coming out with these meaningless numbers each month, why are markets and the media glued to them? We will be speaking with Nomi Prins during the show, and will ask her what she things about this purported oddity of markets hanging on news that the may see as highly dubious. And speaking of news the markets and media hang on - Greek leaders are still in talks over a debt deal - and the markets are doing their usual finger-biting as they wait for some "resolution." The Greek government and its Troika "partners" did agree to some more cuts to public workers, but forget the market and look at the reaction on the streets of Greece. Scenes of protesters burning the German flag, chanting "out with the nazis." So how long will Greeks continue to bear the weight of austerity with no light at the end of the tunnel, and bear policies being pushed by people they don't know, working together with politicians they don't trust? Again, we will ask Nomi Prins what she thinks about this, and if she believes that these policies are there to help the people or to help the creditors, and by extension the banks. And in the US 40 states have signed onto a $25 billion dollar settlement with the five biggest banks guilty of foreclosure abuses such as 'robo signing' of documents -- but who would this provide relief to, homeowners? Or big banks. We speak about all of this with Nomi Prins, author of "Black Tuesday" and a former managing director of Goldman Sachs. Plus, is US President Barack Obama a hypocrite for backtracking on Super PAC money (now he wants it) and is the US exerting "extra--territoriality" with regulations on financial markets? With Demetri out sick, the Alyona Show's Alyona Minkovski joins Lauren and Shannon to give her two cents in Loose Change.
Просмотров: 6689 CapitalAccount
President Obama on Working Through the Mortgage Crisis
 
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The President speaks after Housing Refinance Roundtable with real people who have benefited from renegotiating their mortgages and explains how millions of others can take advantage of his Making Home Affordable plan. (public domain)
Просмотров: 24425 The Obama White House
Bank of America - Forgery is OK when Re-modifying a Mortgage
 
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Bank of America Didn't check signatures on a re-modification of a mortgage and didn't care whether the papers were notarized. A forgery slips through and they are ok with that. They forgive it and allow the person to re-apply for a re-modification. Am I Crazy or should this not be allowed!!!!
Просмотров: 1163 failedbyabank
Bank of America Will Not Raise Payout, Following Fed Review (BAC)
 
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Bank of America (NYSE:BAC), the largest lender by assets in the United States, is the only bank among the largest four that will not boost its dividend payouts following a Federal Reserve review of the company. Bank of America will have to resubmit a proposal to the Fed if it intends to raise its dividend due to what is most likely a failure to meet the Fed's criteria of financial health and capital plans, according to KBW Inc. Director of research at KBW, Frederick Cannon, wrote in a research note released Monday that the bank faces too many mortgage issues for the Fed to grant a dividend increase before 2012. He wrote, "The Fed likely did not agree with Bank of America's capital plan. While Bank of America's capital is sufficient for a bank that is now operating at a profit, the capital levels were simply too far behind peers." The Fed finished a review of the health of several financial institutions last week and is set to report today to each company its decision to ease capital-conserving regulations imposed during the 2008 financial crisis. Bank of America, which had a $0.64 quarterly payout until 2008's dividend restrictions, said it plans to submit a new dividend proposal in the second half of the year.
Просмотров: 131 TradeTheTrend
Bank of America's short sale equator
 
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http://www.allianceshortsales.com/ Click Here to Visit our Website Known to most real estate agents as REO Trans, the new Bank of America system Equator is in full swing. Want to know the best part? We get to image our own files! That means, at the very least, Equator should eliminate the imaging time at the bank. (Imaging was taking a good two weeks or longer.) In this weeks video, I'll let you in on something we spotted in the Equator system that, as far as we can tell, no one else has discovered. Basically, its a glitch in the system, which has been escalated to supervisor levels at Equator, itself. The glitch involves BPOs too. SCARY! It is a good thing our team does not like to take, No, for an answer. Agents all over the country are throwing up their hands in frustration over the current state of Bank of Americas short sales--partly because those agents just dont have the time to dig deeply enough to find the type of solutions we are discovering. multiple short sale offers, shortsale strategy, short sale training, short sale education, short sale training, accelerator offers, excite price system, bpo factor, short sale approval, short sale success, real estate agents, shortsale strategies, short sale services, third party short sale negotiators, realtors, foreclosure, short sale help, short sale mentoring, short sale coaching, Keller Williams, Exit Real estate, ReMax, Century 21, Windermere real estate, Bank of America, Chase, Citi, Well Fargo, Midland, Suntrust, Countrywide, Flagstar, Aurora, Short Sales suck, help me with my short sale, help with short sales, short sale negotiation, short sale negotiation, short sale negotiation company, short sale processing, I need help with my short sale, what are lenders thinking with a short sale, lenders suck, how do I stop foreclosure, I want to stop my foreclosure (forclosure), I need help with B of A, Banks of America, Chase, Washington Mutual, Country wide, countrywide sucks, What is the number for my lender, HSBC, Customer Service, Aurora, Wells Fargo, Short Sale success, Jessica Side, Matt Side, Alliance Short Sales, Alliance, Real Estate Agent Training, Short Sale Training, Short Sale Training for Realestate Agents, Short Sales in Seattle, Sucess in the Seattle market, Seattle Short Sales, Will a bank do a short sales, what banks do short sales?, will I qualify for a short sale, will my home owner qualify for a short sale. AAMES, ABN Amro Mtg, AHSI, ASC, Americas servicing company, Aurora, Bank of America, Bank United, Calwell Banker, Carrington Mortgage Service, CENLAR, Chase Home Mortgage, CITI Financial, CITI Group, CITI Mortgage, CITI Residential Lending, Countrywide, Downey Savings, E Trade, EMC, Everhome, FASLO, Fireside Bank, First Franklin, First Horizon, Metlife, Flagstar, Franklin Credit Management Corporation, Freemont Invest & Loan, GMAC, Greenpoint, Greentree, HFC, Beneficial, Homecomings, HOMEQ, Homestreet Bank, HSBC Mortgage Corporation, HSBC Mortgage Service, Indymac Bank, Interbank, Irwin, Litton Loan Servicing, M & I Bank, Mountain West Bank, M & T Bank, Mortgage Lenders Network, Navy Federal Credit Union, NFCU, Nationpoint, Nationstar Mortgage, National City Mortgage, New Century, Novastar, OCWEN, Option One, Regions Bank, Resurgent, Riverside National Bank, Saxon Mortgage, Secretary of HUD, Housing and Urban Development, HUD, SLS, specialized loan servicing, Sovereign Bank, SPS, Specialized Portfolio Servicing, Spokane Teachers Credit Union, STCU, Suntrust, TB&W Bank, TCF Bank, United Mortgage & Loan, USAA, US Bank, Wachovia, WAMU, WA Trust, Wells Fargo, Wilshire, Yale Mortgage, Washington, California, Oregon, Idaho, Utah, Colorado, Nevada, Arizona, New Mexico, Texas, New Jersey, New York US Treasury, Obama Administration, Home Affordable Foreclosure Alternative, Home Affordable Modification Program, HAFA, HAMP
Просмотров: 13971 AllianceShortSales
Obama "Ready To Fight" Banks
 
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President Obama took a bold stand against financial institutions by announcing new measures to curb their risky activities.
Просмотров: 1580 CBS
Inside Bank of America's Equator System
 
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http://www.allianceshortsales.com/ Visit our website to find out more about us. Bank of America's Equator short sale processing system is designed to streamline your short sale. Now that Alliance Short Sales has uploaded close to 30 Bank of America short sale files into the system I thought it would be helpful to give you some of the tips that we have learned. Make sure you give yourself some time to upload the file the first time because the fields don't always make sense and if you think you will get it loaded in 20 minutes it is highly unlikely. Paperwork from your seller and seller registration is critical to your success. Also, make sure you understand that the Equator system gives you a time limit to address the tasks that you are assigned. Even if you only need 30 minutes to upload a file, I guarantee that you will be slightly irritated when you have to upload the file a second time because you went past the Equator deadline. If you have not had to deal with Equator yet, since B of A has a large majority of loans in default after their acquisition of Countrywide, you are bound to run into it sometime soon. If you dont want to deal with Bank of America'sEquator system or any short sale negotiations for that matter take a look at our website to find out how Alliance Short Sales can be your full time short sale negotiator without charging you a transaction fee. Visit us at: http://www.allianceshortsales.com/ multiple short sale offers, shortsale strategy, short sale training, short sale education, short sale training, accelerator offers, excite price system, bpo factor, short sale approval, short sale success, real estate agents, shortsale strategies, short sale services, third party short sale negotiators, realtors, foreclosure, short sale help, short sale mentoring, short sale coaching, Keller Williams, Exit Real estate, ReMax, Century 21, Windermere real estate, Bank of America, Chase, Citi, Well Fargo, Midland, Suntrust, Countrywide, Flagstar, Aurora, Short Sales suck, help me with my short sale, help with short sales, short sale negotiation, short sale negotiation, short sale negotiation company, short sale processing, I need help with my short sale, what are lenders thinking with a short sale, lenders suck, how do I stop foreclosure, I want to stop my foreclosure (forclosure), I need help with B of A, Banks of America, Chase, Washington Mutual, Country wide, countrywide sucks, What is the number for my lender, HSBC, Customer Service, Aurora, Wells Fargo, Short Sale success, Jessica Side, Matt Side, Alliance Short Sales, Alliance, Real Estate Agent Training, Short Sale Training, Short Sale Training for Realestate Agents, Short Sales in Seattle, Sucess in the Seattle market, Seattle Short Sales, Will a bank do a short sales, what banks do short sales?, will I qualify for a short sale, will my home owner qualify for a short sale. AAMES, ABN Amro Mtg, AHSI, ASC, Americas servicing company, Aurora, Bank of America, Bank United, Calwell Banker, Carrington Mortgage Service, CENLAR, Chase Home Mortgage, CITI Financial, CITI Group, CITI Mortgage, CITI Residential Lending, Countrywide, Downey Savings, E Trade, EMC, Everhome, FASLO, Fireside Bank, First Franklin, First Horizon, Metlife, Flagstar, Franklin Credit Management Corporation, Freemont Invest & Loan, GMAC, Greenpoint, Greentree, HFC, Beneficial, Homecomings, HOMEQ, Homestreet Bank, HSBC Mortgage Corporation, HSBC Mortgage Service, Indymac Bank, Interbank, Irwin, Litton Loan Servicing, M & I Bank, Mountain West Bank, M & T Bank, Mortgage Lenders Network, Navy Federal Credit Union, NFCU, Nationpoint, Nationstar Mortgage, National City Mortgage, New Century, Novastar, OCWEN, Option One, Regions Bank, Resurgent, Riverside National Bank, Saxon Mortgage, Secretary of HUD, Housing and Urban Development, HUD, SLS, specialized loan servicing, Sovereign Bank, SPS, Specialized Portfolio Servicing, Spokane Teachers Credit Union, STCU, Suntrust, TB&W Bank, TCF Bank, United Mortgage & Loan, USAA, US Bank, Wachovia, WAMU, WA Trust, Wells Fargo, Wilshire, Yale Mortgage, Washington, California, Oregon, Idaho, Utah, Colorado, Nevada, Arizona, New Mexico, Texas, New Jersey, New York, US Treasury, Obama Administration, Home Affordable Foreclosure Alternative, Home Affordable Modification Program, HAFA, HAMP
Просмотров: 16998 AllianceShortSales
Obama's financial practices 'Dishonest Pretend Schemes'
 
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According to a whistleblower's complaint unsealed in federal court yesterday, Bank of America NA prevented homeowners from receiving mortgage-loan modifications under the federal government's HAMP program in order to avoid millions of dollars in losses, while benefiting from financial incentives for participating in the program. It raises a lot of questions about all of the new assistance Bank of America is supposed to provide through the recent fraud foreclosure settlement. Roosevelt Institute's Matt Stoller discusses. Twitter: http://twitter.com/#!/TheAlyonaShow Facebook: http://www.facebook.com/TheAlyonaShow
Просмотров: 2023 TheAlyonaShow
Obama Admin Blocks Bank Investigations?
 
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Efforts by New York Attorney General Eric Schneiderman have motivated AG's in other states to investigate banks for questionable mortgage practices. Why is the Obama Administration interfering? The Young Turks host Cenk Uygur explains. Source: http://www.nytimes.com/2011/08/22/business/schneiderman-is-said-to-face-pressure-to-back-bank-deal.html The Largest Online News Show in the World. Google+: http://www.gplus.to/TheYoungTurks Facebook: Twitter: http://twitter.com/intent/user?screen_name=theyoungturks Support TYT for FREE: http://bit.ly/eWuu5i
Просмотров: 35289 The Young Turks
Bank of America Mortgage Initiative
 
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CBS MoneyWatch's Jill Schlesinger discussed Bank of America's initiative to reduce mortgage totals for certain borrowers. The programs is by invitation only.
Просмотров: 254 CBS News
President Barack Obama unveiled his $75 billion mortgage relief plan, a series of measures the presi
 
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(18 Feb 2009) HEADLINE: Obama unveils $75 billion mortgage relief plan CAPTION: President Barack Obama unveiled his $75 billion mortgage relief plan, a series of measures the president says will keep 9 million people from losing their jobs. The AP's Julie Pace breaks down the plan. (Feb. 18) [Notes:ANCHOR VOICE] President Barack Obama is rolling out the next step in his multi-pronged plan to revive the U-S economy....a 75 billion dollar program to help struggling homeowners. Obama says the plan will keep nine million Americans from losing their homes to foreclosure. SOT Barack Obama "the plan I'm announcing focuses on rescuing families who have played by the rules and acted responsibly." The plan offers incentives for lenders to lower monthly mortgage payments for millions of Americans who are the brink of foreclosure. It will also make it easier for families to refinance their mortgages if their homes are worth less than they owe. Stand-Up Julie Pace/The Associated Press "Obama's housing plan is more ambitious than originally expected - and more expensive. But with the effects of the crisis reverberating across the financial markets, Obama says the plan is necessary to not only get the housing market back on track." SOT Barack Obama "In the end, all of us are paying a price for this home mortgage crisis. And all of us will pay an even steeper price if we allow this crisis to deepen," But some experts wonder if incentives will be enough to get banks and lenders to act. SOT John Taylor/National Community Reinvestment Coalition "maybe we'll all be pleasantly surprised and see these investors and lenders who weren't willing to move a week ago or thirteen months ago, all of the sudden, through a voluntary program, because of a $1500 fee, willing to do massive modifications. Maybe that will happen. Even so, the president says the plan can't - and won't - help everyone. SOT Barack Obama "it will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans. It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell." Funding for the mortgage plan will come from the 700 billion dollar bank bailout passed by Congress last fall. Julie Pace, The Associated Press, The White House You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/938b0332598383163962d13da512f2a7 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Просмотров: 75 AP Archive
CHASE OBAMA MODIFICATION CONGRADULATIONS LETTER MORTGAGE PROGRAM
 
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JUST GOT THE LETTER OF CONGRADULATIONS TODAY-WHAT? 40 YEARS AT HIGHER INTEREST? CHASE OBAMA MODIFICATIONCONGRADULATIONS LETTER MORGTAGE PROGRAM THANKS CHASE, OBAMA AND OUR STIMULUS PROGRAM
Просмотров: 96 darticus1
Bank of America vs President Obama
 
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Bank of America is charging you $5 a month to use your ATM card. President of the bank defends his action. President Obama responds. - created at http://goanimate.com/
Просмотров: 119 Jack Wood
US Bank's 90 Day Short Sale Marketing Plan
 
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If you have a short sale with a US Bank first mortgage you will want to watch this video. It is not very long but will give you some insight into a newly updated policy that is going to potentially add some marketing time to your short sales. As if we need to add time to this process. Make sure you properly position your buyers and watch the auction dates. Matt Side Alliance Short Sales www.AllianceShortSales.com Follow Me on Twitter: http://twitter.com/MattSide Follow My Blog: http://6fd70e2.activerain.com/ Based in Spokane, Washington Alliance Short Sales offers short sale services in multiple states around the U.S. With a current network of agents located in Washington, California, Idaho, Nevada, Arizona, Florida, Tennessee, Georgia, Ohio, and Virginia, Alliance negotiates short sale real estate transactions with lenders on behalf of agents without charging a fee to the agent or the seller. Because their fees are paid at closing out of the net proceeds to the lender, Alliance creates a beneficial outcome for all parties involved. For additional information about how you can work with Alliance Short Sales, please visit our website at www.AllianceShortSales.com. multiple short sale offers, shortsale strategy, short sale training, short sale education, short sale training, accelerator offers, excite price system, bpo factor, short sale approval, short sale success, real estate agents, shortsale strategies, short sale services, third party short sale negotiators, realtors, foreclosure, short sale help, short sale mentoring, short sale coaching, Keller Williams, Exit Real estate, ReMax, Century 21, Windermere real estate, Bank of America, Chase, Citi, Well Fargo, Midland, Suntrust, Countrywide, Flagstar, Aurora, Short Sales suck, help me with my short sale, help with short sales, short sale negotiation, short sale negotiation, short sale negotiation company, short sale processing, I need help with my short sale, what are lenders thinking with a short sale, lenders suck, how do I stop foreclosure, I want to stop my foreclosure (forclosure), I need help with B of A, Banks of America, Chase, Washington Mutual, Country wide, countrywide sucks, What is the number for my lender, HSBC, Customer Service, Aurora, Wells Fargo, Short Sale success, Jessica Side, Matt Side, Alliance Short Sales, Alliance, Real Estate Agent Training, Short Sale Training, Short Sale Training for Realestate Agents, Short Sales in Seattle, Sucess in the Seattle market, Seattle Short Sales, Will a bank do a short sales, what banks do short sales?, will I qualify for a short sale, will my home owner qualify for a short sale. AAMES, ABN Amro Mtg, AHSI, ASC, Americas servicing company, Aurora, Bank of America, Bank United, Calwell Banker, Carrington Mortgage Service, CENLAR, Chase Home Mortgage, CITI Financial, CITI Group, CITI Mortgage, CITI Residential Lending, Countrywide, Downey Savings, E Trade, EMC, Everhome, FASLO, Fireside Bank, First Franklin, First Horizon, Metlife, Flagstar, Franklin Credit Management Corporation, Freemont Invest & Loan, GMAC, Greenpoint, Greentree, HFC, Beneficial, Homecomings, HOMEQ, Homestreet Bank, HSBC Mortgage Corporation, HSBC Mortgage Service, Indymac Bank, Interbank, Irwin, Litton Loan Servicing, M & I Bank, Mountain West Bank, M & T Bank, Mortgage Lenders Network, Navy Federal Credit Union, NFCU, Nationpoint, Nationstar Mortgage, National City Mortgage, New Century, Novastar, OCWEN, Option One, Regions Bank, Resurgent, Riverside National Bank, Saxon Mortgage, Secretary of HUD, Housing and Urban Development, HUD, SLS, specialized loan servicing, Sovereign Bank, SPS, Specialized Portfolio Servicing, Spokane Teachers Credit Union, STCU, Suntrust, TB&W Bank, TCF Bank, United Mortgage & Loan, USAA, US Bank, Wachovia, WAMU, WA Trust, Wells Fargo, Wilshire, Yale Mortgage, Washington, California, Oregon, Idaho, Utah, Colorado, Nevada, Arizona, New Mexico, Texas, New Jersey, New York, US Treasury, Obama Administration, Home Affordable Foreclosure Alternative, Home Affordable Modification Program, HAFA, HAMP, Fannie Mae, Freddie Mac
Просмотров: 4798 AllianceShortSales
Obama creates new bank watchdog for consumers
 
01:00
The White House has said Barack Obama is exploring a possible fallback plan to avert a debt default on August 2. He again called on Congress to raise the debt ceiling. The president was announcing the head of a new watchdog, the Consumer Financial Protection Bureau, to help protect individuals from lending institutions. In charge he has named Richard Cordray, a fierce critic of US banks and lax regulations. As Ohio Attorney General he took several banks to court alleging abusive mortgage practices. Barack Obama said: ... http://www.euronews.net/
Просмотров: 1337 euronews (in English)
Obama Offers Troubled Homeowners Clear Chain Of Title Plan As Mortgage Relief
 
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President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term.
Просмотров: 282 cfini72
Obama's Mortgage Rescue Plan
 
01:55
More than 11 million homeowners are at risk of foreclosure. President Obama rolled out a new plan that he hopes will help 4 million homeowners in the next 3 years. Chip Reid reports.
Просмотров: 1377 CBS News
Bank of America Loan Modification Fraudulent Practices
 
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Report on how Bank of America drags their feet on loan modification with the sole intent on foreclosing on your home. Lost documentation, months of lies, promises, and illegal business practices.
Просмотров: 1177 Martin Gerhard
Obama on Landmark Housing Settlement with Banks
 
09:00
U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced today that the federal government and 49 state attorneys general have reached a landmark $25 billion agreement with the nation?s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The agreement provides substantial financial relief to homeowners and establishes significant new homeowner protections for the future. The unprecedented joint agreement is the largest federal-state civil settlement ever obtained and is the result of extensive investigations by federal agencies, including the Department of Justice, HUD and the HUD Office of the Inspector General (HUD-OIG), and state attorneys general and state banking regulators across the country. The joint federal-state group entered into the agreement with the nation?s five largest mortgage servicers: Bank of America Corporation, JPMorgan Chase Co., Wells Fargo Company, Citigroup Inc. and Ally Financial Inc. (formerly GMAC). About the agreement President Obama said "We have reached a landmark settlement with the nation?s largest banks that will speed relief to the hardest-hit homeowners, end some of the most abusive practices of the mortgage industry, and begin to turn the page on an era of recklessness that has left so much damage in its wake."
Просмотров: 1456 Michael McIntee
Obama: Mortgage Deal Turns Page on Reckless Era
 
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President Barack Obama says a $25 billion settlement between mortgage lenders and states over foreclosure abuses "will begin to turn the page on an era of recklessness that has left so much damage in its wake." (Feb. 9)
Просмотров: 1406 Associated Press
Bank of America Settlement Yuba City Short Sale Agent and Default Advocate Mike Rigley
 
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http://www.shortsaleandloanmod.info Yuba City Short Sale Agent and Default Advocate Mike Rigley discusses Bank of Americas latest offer to slash mortgage balances by $100,000 or more Bank of America will significantly slash mortgage balances for as many as 200,000 borrowers. As part of the $26 billion settlement reached between the five major mortgage servicers, the federal government and the attorneys general of 49 states and District of Columbia last month, Bank of America customers who qualify could see their mortgages reduced by an average of $100,000 or more, according to bank spokesman Rick Simon. Those principal reductions are much deeper than the ones originally announced as part of the robo-signing settlement deal. When the settlement was first announced, the average principal reduction was expected to reduce mortgage balances by an average of about $20,000. Among the five biggest lenders, the reductions are expected to help roughly 1 million homeowners who owe more on their homes than they are worth. Many of the mortgages Bank of America plans to refinance came to the bank through its 2008 acquisition of Countrywide Financial, which issued many high value loans called jumbo mortgages that exceeded the loan limits of Fannie Mae and Freddie Mac. A large percentage of those loans were issued in some of the country's hardest hit housing markets, including California, leaving many of Bank of America's mortgage borrower's deeply underwater on their mortgages, said Simon. There are incentives to do that. If the bank is able to demonstrate that it faithfully carried out the provisions of the attorneys general's foreclosure settlement -- as well as a separate settlement in which it agreed to reimburse HUD $1 billion to cover problems originating FHA loans -- over the next three years, it can be forgiven $850 million in penalty payments, said Simon. The bank has also agreed not to pursue foreclosures against any delinquent borrowers who might be eligible for a mortgage modification as part of the settlement. It will also reform its foreclosure processing to avoid repeating robo-signing abuses, in which bank employees signed hundreds of documents a day, testifying to statements they had no knowledge of. The deal is one of a series of government-led initiatives aimed at tackling the foreclosure crisis. The latest effort came on Tuesday when the Obama administration announced a plan to reduce refinancing costs for FHA-insured loans. The U.S. Department of Housing and Urban Development (HUD) advises borrowers who believe they were subjected to foreclosure abuse and may be eligible for a mortgage modification under the settlement to call their servicers and ask for a review of their cases. HUD said once the agreement was submitted to a court for approval, which was expected to happen on Friday, it would hold a press conference to go over the details. To get a better idea of when your Yuba City home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation. Call me today and sleep better tonight; you'll be glad you did If you are a homeowner who has missed payments, possibly facing foreclosure or just owe more than your home is worth please contact Mike Rigley Short Sale Specialist at 888-317-9376 or mike@norcalmortgagerelief.com for a free no obligation confidential consultation and receive the latest information on your options to avoid foreclosure and the benefits of a short sale. Learn More about Mike and his expertise at http://youtu.be/EtrjKmU9nIQ If you owe more than your home is worth, want to know how long in todays present market it will take until your home is worth what you owe? Check out our calculator at http://www.shortsaleandloanmod.info Consistently ranked as one of Northern California's top Short Sale Agents and Specialist, Mike Rigley is one of the areas premiere Certified Default Advocates. With his strong focus on assisting homeowners in need, Mike offers a straightforward no nonsense consultation designed to give you all the information and facts to enable you to make the best decision for you and your family. As every situation is different, Mike offers his insight and knowledge of the default process and all the options available to you to avoid foreclosure. Mikes experience of representing both homeowners in distress avoid foreclosure and his insider knowledge of the default process makes' Mikes experience unique. Trained and personally coached by the former Chief Loss Mitigator of IndyMac bank, Mike understands what the banks are looking for and how best to assist you in your time of need. Call Mike today toll free at 888-317-9376 for your free consultation and sleep better tonight 1110 Civic Center Blvd. Suite 304 Yuba City, CA 95993, US
Просмотров: 71 YubaCityShortSales
Neil Cavuto interviews Dean Heskin on President Obama's mortgage bailout plan.
 
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On the day of President Obama's unveiling of his mortgage bailout plan in Phoenix Neil Cavuto interviews Dean Heskin.
Просмотров: 370 sharkssd2
Banksters demand, "No Free Speech for mortgage!"
 
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According to BusinessWeek, Bank of America is pushing back when offering loan modifications to people who are complaining publicly. The catch is the borrower must stay quiet and remove any previous criticisms of the bank from public records, like tweets or facebook. According to one borrower the bank included this language, "The borrower "will remove and delete any online statements regarding this dispute, including, without limitation, postings on Facebook, Twitter and similar websites," and not make any statements "that defame, disparage or in any way criticize" the bank's reputation, practices or conduct, according to documents filed in state court in Phoenix."
Просмотров: 1414 The Big Picture RT
Communist Plan To Destroy America Almost Complete
 
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Learn & Trade Bitcoin W/ The Pros! Click Here! https://www.tradegeniusacademy.com 50% OFF w/ Promo Code "mount" Protect Your Data from NSA Spies! - Click Here! https://virtualshield.com/mount/ Use Promo Code: Mount for 20% OFF Don't Get Caught Un-Prepared Stock UP on Emergency Food! - http://www.preparewithwilliam.com or call 888-457-3212 Get Pain Relief Today - Click here! http://www.denaspainreliefstore.com/denas-pcm-6.html Great Tea To Rid Your Body of Toxins! - https://www.getthetea.com
Просмотров: 22617 William Mount
Short Sale Success Tip #1:  Buyers
 
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Buyers, you can not close short sale listings without them. This video is about a few tips regarding the buyers on your short sale listings. You may not realize it, but successful short sale agents have a system around working with buyers. At Alliance Short Sales, we call it the Buyer's Gauntlet. Watch this video to gain tips about how you can strengthen the offers you negotiate with banks simply by putting your buyers through a series of requirements. Matt Side Alliance Short Sales www.AllianceShortSales.com Follow Me on Twitter: http://twitter.com/MattSide Follow My Blog: http://6fd70e2.activerain.com/ Based in Spokane, Washington Alliance Short Sales offers short sale services in multiple states around the U.S. With a current network of agents located in Washington, California, Idaho, Nevada, Arizona, Florida, Tennessee, Georgia, Ohio, Maryland, Kansas and Virginia, Alliance negotiates short sale real estate transactions with lenders on behalf of agents without charging a fee to the agent or the seller. Because their fees are paid at closing out of the net proceeds to the lender, Alliance creates a beneficial outcome for all parties involved. For additional information about how you can work with Alliance Short Sales, please visit our website at www.AllianceShortSales.com. multiple short sale offers, shortsale strategy, short sale training, short sale education, short sale training, accelerator offers, excite price system, bpo factor, short sale approval, short sale success, real estate agents, shortsale strategies, short sale services, third party short sale negotiators, realtors, foreclosure, short sale help, short sale mentoring, short sale coaching, Keller Williams, Exit Real estate, ReMax, Century 21, Windermere real estate, Bank of America, Chase, Citi, Well Fargo, Midland, Suntrust, Countrywide, Flagstar, Aurora, Short Sales suck, help me with my short sale, help with short sales, short sale negotiation, short sale negotiation, short sale negotiation company, short sale processing, I need help with my short sale, what are lenders thinking with a short sale, lenders suck, how do I stop foreclosure, I want to stop my foreclosure (forclosure), I need help with B of A, Banks of America, Chase, Washington Mutual, Country wide, countrywide sucks, What is the number for my lender, HSBC, Customer Service, Aurora, Wells Fargo, Short Sale success, Jessica Side, Matt Side, Alliance Short Sales, Alliance, Real Estate Agent Training, Short Sale Training, Short Sale Training for Realestate Agents, Short Sales in Seattle, Sucess in the Seattle market, Seattle Short Sales, Will a bank do a short sales, what banks do short sales?, will I qualify for a short sale, will my home owner qualify for a short sale. AAMES, ABN Amro Mtg, AHSI, ASC, Americas servicing company, Aurora, Bank of America, Bank United, Calwell Banker, Carrington Mortgage Service, CENLAR, Chase Home Mortgage, CITI Financial, CITI Group, CITI Mortgage, CITI Residential Lending, Countrywide, Downey Savings, E Trade, EMC, Everhome, FASLO, Fireside Bank, First Franklin, First Horizon, Metlife, Flagstar, Franklin Credit Management Corporation, Freemont Invest & Loan, GMAC, Greenpoint, Greentree, HFC, Beneficial, Homecomings, HOMEQ, Homestreet Bank, HSBC Mortgage Corporation, HSBC Mortgage Service, Indymac Bank, Interbank, Irwin, Litton Loan Servicing, M & I Bank, Mountain West Bank, M & T Bank, Mortgage Lenders Network, Navy Federal Credit Union, NFCU, Nationpoint, Nationstar Mortgage, National City Mortgage, New Century, Novastar, OCWEN, Option One, Regions Bank, Resurgent, Riverside National Bank, Saxon Mortgage, Secretary of HUD, Housing and Urban Development, HUD, SLS, specialized loan servicing, Sovereign Bank, SPS, Specialized Portfolio Servicing, Spokane Teachers Credit Union, STCU, Suntrust, TB&W Bank, TCF Bank, United Mortgage & Loan, USAA, US Bank, Wachovia, WAMU, WA Trust, Wells Fargo, Wilshire, Yale Mortgage, Washington, California, Oregon, Idaho, Utah, Colorado, Nevada, Arizona, New Mexico, Texas, New Jersey, New York, US Treasury, Obama Administration, Home Affordable Foreclosure Alternative, Home Affordable Modification Program, HAFA, HAMP, Fannie Mae, Freddie Mac
Просмотров: 6694 AllianceShortSales
Obama on access to government backed home loans
 
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President Obama spoke with KTVN2's Kristen Remington on his economic plan for rural Americans, the access to government backed home loans, and how he will gain the support of recent graduates in Nevada.
Просмотров: 219 CBS News
Wikileaks Sets Sights on Bank of America
 
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Julian Assange has announced Wikileaks will be releasing a massive document leak from a major US bank that will detail a network of corruption. In a 2009 interview, Assange mentioned he had received numerous documents from a B of A executive. Check out the interview with Assange: http://blogs.forbes.com/andygreenberg/2010/11/29/an-interview-with-wikileaks-julian-assange/ Follow Wikileaks on Twitter: http://twitter.com/wikileaks
Просмотров: 8220 The Daily Conversation
Winning at Foreclosure. What they don't want you to know
 
02:34
http://www.benlowrey.com/debt real estate, investment, tax planning, REITS, real estate investment trust, mortgage, markets, bank of america, warren buffett, wall street, bail out, obama,
Просмотров: 24 Debt and Foreclosure Solutions
The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad
 
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This talk was given at a local TEDx event, produced independently of the TED Conferences. The Great Economic Myth of 2008, challenging the accounting to accounting principal. Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Wheaton, Illinois. Mr. Wesbury has been a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago since 1999. In 2012, he was named a Fellow of the George W. Bush Presidential Center in Dallas, TX where he works closely with its 4%-Growth Project. His writing appears in various magazines, newspapers and blogs, and he appears regularly on Fox, Bloomberg, CNBCand BNN Canada TV. In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress. The Wall Street Journal ranked Mr. Wesbury the nation’s #1 U.S. economic forecaster in 2001, and USA Today ranked him as one of the nation’s top 10 forecasters in 2004. Mr. Wesbury began his career in 1982 at the Harris Bank in Chicago. Former positions include Vice President and Economist for the Chicago Corporation and Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson. Mr. Wesbury received an M.B.A. from Northwestern University’s Kellogg Graduate School of Management, and a B.A. in Economics from the University of Montana. McGraw-Hill published his first book, The New Era of Wealth, in October 1999. His most recent book, It’s Not As Bad As You Think, was published in November 2009 by John Wiley & Sons. In 2011, Mr. Wesbury received the University of Montana’s Distinguished Alumni Award. This award honors outstanding alumni who have “brought honor to the University, the state or the nation.” There have been 267 recipients of this award out of a potential pool of 91,000 graduates. About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)
Просмотров: 1712962 TEDx Talks
Homeowners Mortgage Refinance - Obama's New Promise
 
03:14
You can truly have your home or property Mortgage FREE in less than six months with no more illegal bank mortgage payments only going to http://www.1RealEstateHomes.com and getting your Mortgage Foreclosure FREE HOME Package that every home owner with a mortgage loan needs.
Просмотров: 259 David Young
Obama's America: Progress Is Poison
 
20:15
The Peter Schiff Show - 12/7/2011 Follow me on Twitter @SchiffRadio
Просмотров: 36312 Peter Schiff
Would Obama's Refinancing Plan Boost Ailing Housing Market?
 
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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
New Second Mortgage Modifications
 
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http://www.cambridge-credit.org -- President Obama recently announced that his housing initiative was ready to expand to include second mortgage modifications. The Administration believes that ensuring a homeowners ability to stay in their home is critical to stabilizing the housing market. Once thats achieved, the logic is that the overall financial system will recover in turn. Watch this week's webisode from Cambridge Credit Counseling Corp. to learn more. Host: Community Outreach Director, Thomas J. Fox. Transcription: Hello, and welcome to Your Money 2.0. I’m Thomas Fox, Community Outreach Director at Cambridge Credit Counseling. The Obama Administration’s Making Home Affordable program has drawn a fair amount of criticism since it was announced. However, with 6 million families facing foreclosure in the coming years and countless others struggling to stay current on their mortgage payments, help was needed. The plan’s detractors focused on the omission of second mortgage modifications. Why should they be included? Second mortgages often complicate or prevent the modification or refinancing of a first mortgage because borrowers require permission from any second lien holder before an adjustment can be made. Now that 75% of mortgage servicers have begun participating in the Making Home Affordable program, President Obama recently announced that his housing initiative was ready to expand to include second mortgage modifications. The Administration believes that ensuring a homeowner’s ability to stay in their home is critical to stabilizing the housing market. Once that’s achieved, the logic is that the overall financial system will recover in turn. Given the popularity of second mortgages, it stands to reason that they’ve been included in the Making Home Affordable program. This new provision will help those with amortizing loans and those with interest-only loans. For traditional amortizing loans, or loans with monthly payments consisting of interest and principal, the administration will share the cost of reducing the interest rate on the second mortgage to 1%. Participating servicers will be required to follow specific steps to modify such loans. First, and most important, servicers must be willing to reduce interest rate to 1 percent. They’ll also need to extend the term of the modified second mortgage to the term of the modified first mortgage. After five years, the interest rate on the second lien will increase to the current interest rate on the modified first mortgage, subject to an interest rate cap. For interest-only loans, the administration will share the cost of reducing the interest rate on the second mortgage to 2%. Similarly, servicers of interest-only mortgages will need to adhere to guidelines similar to those I just outlined for amortizing loans. Alternatively, servicers will have the option to “extinguish” the second lien in return for a lump sum payment from the government, according to a pre-set formula determined by the Treasury Department. Unfortunately, because the formula equates to just pennies on the dollar, only time will tell if many servicers agree to extinguish these liens. The administration's second mortgage initiative will be funded out of $50 billion in financial rescue money that has already been allocated. As in the original plan, participation is encouraged through financial incentives that can be paid to servicers. Mortgage companies would receive $500 for each modified loan, plus $250 a year for three years, providing the borrower doesn't default. You can learn more about the Making Home Affordable program by visiting www.makinghomeaffordable.gov. Well, that’s it for this edition. We welcome your feedback and ask for your thoughts and suggestions by e-mailing us at yourmoney2@cambridgecredit.org. Thank you for watching. Until next time, I’m Thomas Fox for Cambridge Credit Counseling.
Просмотров: 2314 Cambridge Credit Counseling Corp.
Obama Unveils Program to Stem Foreclosures
 
01:55
President Barack Obama unveiled a 75 billion dollar program Wednesday (February 18th) to prevent up to nine million U.S. homeowners from losing their homes. The Homeowner Affordability and Stability Plan includes measures to allow struggling homeowners to refinance their loans so their monthly payments are affordable.
Просмотров: 2933 VOA News
Dick Morris TV in the Morning! Goodbye Mortgage Interest Deductions
 
05:08
Dick Morris explains the reasons behind the double dip in real estate and housing prices. He blames Obama's plans to raise taxes and his efforts to repeal the mortgage interest deduction.
Просмотров: 21926 dickmorrisreports
HAMP Defaults Lead to HAFA Surge
 
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http://www.allianceshortsales.com/ According to the New York Times, "Defaults Rise in Loan Modification Program" The number of homeowners who secured cheaper mortgages through the governments modification program only to default again nearly doubled in March, continuing a worrisome trend that threatens to undermine the entire program. " The trend suggests that HAFA is not to soon upon us. Hopefully it will actually help the problem. Many are skeptical. This video goes through the timeline given to me by Fannie Mae on a recent conference call as well as spotlights a couple problem areas we should all be watching for. I will shortly be releasing my proposal regarding how we should deal with HAFA when the borrower has not yet participated in HAMP. There are quite a few moving parts in this one. multiple short sale offers, shortsale strategy, short sale training, short sale education, short sale training, accelerator offers, excite price system, bpo factor, short sale approval, short sale success, real estate agents, shortsale strategies, short sale services, third party short sale negotiators, realtors, foreclosure, short sale help, short sale mentoring, short sale coaching, Keller Williams, Exit Real estate, ReMax, Century 21, Windermere real estate, Bank of America, Chase, Citi, Well Fargo, Midland, Suntrust, Countrywide, Flagstar, Aurora, Short Sales suck, help me with my short sale, help with short sales, short sale negotiation, short sale negotiation, short sale negotiation company, short sale processing, I need help with my short sale, what are lenders thinking with a short sale, lenders suck, how do I stop foreclosure, I want to stop my foreclosure (forclosure), I need help with B of A, Banks of America, Chase, Washington Mutual, Country wide, countrywide sucks, What is the number for my lender, HSBC, Customer Service, Aurora, Wells Fargo, Short Sale success, Jessica Side, Matt Side, Alliance Short Sales, Alliance, Real Estate Agent Training, Short Sale Training, Short Sale Training for Realestate Agents, Short Sales in Seattle, Sucess in the Seattle market, Seattle Short Sales, Will a bank do a short sales, what banks do short sales?, will I qualify for a short sale, will my home owner qualify for a short sale. AAMES, ABN Amro Mtg, AHSI, ASC, Americas servicing company, Aurora, Bank of America, Bank United, Calwell Banker, Carrington Mortgage Service, CENLAR, Chase Home Mortgage, CITI Financial, CITI Group, CITI Mortgage, CITI Residential Lending, Countrywide, Downey Savings, E Trade, EMC, Everhome, FASLO, Fireside Bank, First Franklin, First Horizon, Metlife, Flagstar, Franklin Credit Management Corporation, Freemont Invest & Loan, GMAC, Greenpoint, Greentree, HFC, Beneficial, Homecomings, HOMEQ, Homestreet Bank, HSBC Mortgage Corporation, HSBC Mortgage Service, Indymac Bank, Interbank, Irwin, Litton Loan Servicing, M & I Bank, Mountain West Bank, M & T Bank, Mortgage Lenders Network, Navy Federal Credit Union, NFCU, Nationpoint, Nationstar Mortgage, National City Mortgage, New Century, Novastar, OCWEN, Option One, Regions Bank, Resurgent, Riverside National Bank, Saxon Mortgage, Secretary of HUD, Housing and Urban Development, HUD, SLS, specialized loan servicing, Sovereign Bank, SPS, Specialized Portfolio Servicing, Spokane Teachers Credit Union, STCU, Suntrust, TB&W Bank, TCF Bank, United Mortgage & Loan, USAA, US Bank, Wachovia, WAMU, WA Trust, Wells Fargo, Wilshire, Yale Mortgage, Washington, California, Oregon, Idaho, Utah, Colorado, Nevada, Arizona, New Mexico, Texas, New Jersey, New York, US Treasury, Obama Administration, Home Affordable Foreclosure Alternative, Home Affordable Modification Program, HAFA, HAMP, Fannie Mae, Freddie Mac
Просмотров: 582 AllianceShortSales
US Banks Under Pressure to Lend More
 
03:53
This is the VOA Special English Economics Report, from http://voaspecialenglish.com In December, President Obama told some of the nation's top bankers that they need to explore "every responsible way" to make more loans. The president said: "Americas banks received extraordinary assistance from American taxpayers to rebuild their industry. And now that theyre back on their feet, we expect extraordinary commitment from them to help rebuild the economy." Major banks have been doing well since the worst of the financial crisis shook Wall Street more than a year ago. Banks including Bank of America, Citigroup and Wells Fargo have recently announced plans to repay government rescue money. New profits and freedom from the pay limits tied to federal aid mean bankers can again receive big bonuses. But critics say banks are profiting mainly from trading activities, not from making loans to small businesses or homeowners. Britain has placed a fifty percent tax on bonuses for bankers. There have been calls for similar measures in the United States. Unemployment rates are the highest in a generation -- ten percent nationally in November. An estimated seventeen percent of the labor force either lacks a job or is not working enough to pay all the bills. The weak job market has not only hurt spending. It also puts pressure on homeowners who are struggling to pay their mortgage loans. Record numbers have been told that they could lose their homes. Banks are expected to have sent almost four million foreclosure notices in two thousand nine. The administration has had limited success with its promise of seventy-five billion dollars to help struggling homeowners. The Making Home Affordable program aims to prevent up to four million foreclosures. The idea is to get banks to reduce monthly payments. But fewer than thirty-two thousand loans have been permanently changed so far. Lenders are unwilling to change loans that they suspect will fail anyway. An estimated one-fourth of homeowners owe more than their home is worth. That situation increases the risk that a loan will not be repaid. Experts say progress in the housing market will be limited until the job market gets better. Most new jobs in the United States are created by small businesses. But small businesses have been hit hard by the recession and now the difficulty in getting loans. And that's the VOA Special English Economics Report. (Adapted from a radio program broadcast 18Dec2009)
Просмотров: 11809 VOA Learning English
BARACK OBAMA HOME MORTGAGE STIMULUS PLAN IN ARIZONA 2 FEBRUARY 18 2009 CONCISE
 
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BARACK OBAMA HOME MORTGAGE STIMULUS PLAN 2 IN ARIZONA FEBRUARY 18 2009 CONCISE HIS EXPLANATION AND THE PLAN-THAT'S IT I REMOVED INTROS GREETINGS ETC.
Просмотров: 1087 ZZZZZZZZZZZZAMBONI