And Now Homeowners

homeowners

The two most important features of the administration’s plan to help homeowners are, first, its support for amending bankruptcy laws to allow judges to modify mortgages. This will give homeowners bargaining leverage with mortgage servicers (and give the servicers more leverage with securitized creditors on up the line) to get better terms; and, second, a [...]

Taking in the Economic View from Lake and Colorado

It is tempting to view the current economic crisis as a problem for Wall Street and Washington, D.C. However, a local resident can learn all that’s needed about the impending financial meltdown simply by standing on the northeast corner of Lake Avenue and Colorado Boulevard in Pasadena, California. From there, the entire crisis can be [...]

A Warning to All Mortgage Lenders in California and the Nation

Ted Lieu

By Ted W. Lieu — Just like unwary homeowners trapped in unsuitable loans and an ever-increasing mountain of debt, many of our nation’s lenders are facing significant difficulties remaining afloat.

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