Jacksonville Real Estate Market

Jacksonville, Florida

Mortgage Settlement Saves FHA From Bailout

If you look deep inside the 2013 federal budget released today, it looks as if the Federal Housing Administration (FHA) is asking for a cash bailout for the first time its 78-year history.

Mortgage Modifications Wind Down As Foreclosures Heat Up

Mortgage modifications under the government’s bailout program, permanent and trials, and as well as proprietary modifications made by the big banks continue to fall and are falling at an increasing clip.

Fannie Mae Bailing Out Bank of America? Not So Much

Late yesterday the chairman of the House Oversight and Government Reform Committee, Darrell Issa, sent out a press release titled, “Is Fannie Mae’s Purchase of Troubled B of A Portfolio a Back-Door Bailout?” The answer is: No‚Ķbut let me go back a bit.

Housing’s Worst Case

Yesterday the regulator for Fannie Mae and Freddie Mac put out a forecast of how much the two mortgage giants would cost taxpayers through 2013…After the news hit, there was much consternation at the Treasury Department because many news outlets went…

Housing’s Worst Case

Yesterday the regulator for Fannie Mae and Freddie Mac put out a forecast of how much the two mortgage giants would cost taxpayers through 2013…After the news hit, there was much consternation at the Treasury Department because many news outlets went…

Fannie/Freddie Bailout Could Total $363 Billion

So out of the blue this morning I get a bill for anywhere from $221 billion to $363 billion; it wasn’t addressed to me alone, but as a taxpayer I tend to take these things very personally.

Bigger Bailout for Unemployed Borrowers

We knew it was coming, as it was part of the recently signed financial reform bill, but today the Obama Administration announced it would be sending another $1 billion to unemployed borrowers to help them pay their mortgages.

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