Foreclosure Paperwork Scandal

Marian Wang: Though foreclosures continue to speed through courts in some states, in recent months some judges have increasingly questioned banks bringing foreclosure cases in court, forcing them to prove their legal standing to foreclose.

What Is a Wrongful Foreclosure?

foreclosure

Marian Wang: The issue at the center of the foreclosure scandal isn’t the use of robo-signers and shortcuts in paperwork: It’s whether the banks’ mistakes and lack of due diligence caused people to face wrongful foreclosures.

Mortgage Foreclosures, Housing, and the Current Economic Crisis

Foreclosure

So far, here in the U.S., over 4 million homes have been foreclosed on since mid-2006. Because consumer spending drops drastically whenever housing values decline, the entire U.S. economy has been in a tail-spin throughout this period. Over 10 million jobs have been totally eliminated due to a dramatic drop in consumer sales and the resultant decline in production.

His First One Hundred Days

A new ABC poll just out indicates that President Obama enjoys a 69% approval rating. George Stephanopoulos of ABC’s This Week says Obama has sparked a surge of optimism, with 50% of Americans now believing we are headed in the right direction compared to just 19% as recently as January 16th. But the economy continues [...]

An Inaugural Poem

girl_pledge

America is the greatest country in the world… Or at least that’s what they tell me. The greatest country? Now, exactly what yardstick were you using just now? Such a bold statement with such paltry evidence! Sounds like the words of someone who hasn’t been anywhere, Yet those who have lived, traveled and studied Beyond [...]

Shall We Call It a Depression Now?

economy

by Robert Reich – Friday’s employment report, showing that employers cut 533,000 jobs in November, 320,000 in October, and 403,000 in September — for a total of over 1.2 million over the last three months — begs the question of whether the meltdown we’re experiencing should be called a Depression.

Mayor Villaraigosa, Please Help Our Neighbors

homeless man

In Los Angeles Zipcode 90042, there are 385 families that may be evicted before the holidays. Of these, 211 live in bank-owned properties, 59 have homes that up for auction, and 115 have homes in foreclosure. We encourage you to sign Motion 07-2438-69, which was proposed by City Council President Eric Garcetti, seconded by Councilmember [...]

The Housing Crisis: Why the Roof Fell In

The Housing Crisis

By now everyone with a roof over his head has heard about the subprime mortgage mess. Understanding why so many homeowners are defaulting on their mortgages or what mortgage foreclosures have to do with the collapse of the housing market, however, is another matter. To get a better grasp of the mortgage mess I called [...]

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