Charley James: Since the onset of the Great Foreclosure Adventure launched by banks and mortgage companies in 2007 causing the housing market collapse, the financial industry has done a great job of screwing the homeless twice, and without any foreplay or even a kiss.
Steve Mikulan: The new law sounds like a textbook example of how government can and should help its citizens, especially during a time of economic upheaval.
Kwazi Nkrumah: Foreclosure Crisis Continues – There are over 3.5 million American households that are over 4 months in arrears in their mortgage payments.
Kwazi Nkrumah: After U.S. housing prices peaked in mid-2006 and began a sharp decline thereafter, refinancing became more difficult.
Carl Bloice: There are an estimated 3.5 million seriously delinquent mortgages out there. There were nearly 2.7 million foreclosure filings on about 1.9 million homes last year. That’s down from 2007, but it’s still about one out of every 69 homes in the country.
Tina Dupuy: Let’s talk news. And where the majority of Americans – as in over 50 percent (by most estimates) – still get their news – from their local nightly news show. Any discussion about how unaware Americans are when it comes to news needs to have its finger pointed at the proper culprit: Your local broadcast.
Paul Kiel: Nevada’s action signals that the banks’ problems with home mortgages—the main cause of the financial crisis—continue to burden them and rattle investors.
Marian Wang: By the end of last year, the program had given nearly 1.5 million households “a chance” of a mortgage modification through a trial modification. For most, that chance never turned developed into permanent help.
Seth Hoy: As politicians continue to take a “get tough on immigration” stance in the run up to midterm elections, voters may decide that their pocketbooks trump their politics when it comes to immigration.
Robert Reich: The real economy is jobs and paychecks, what people buy and what they sell. And the real economy — even viewed from a worldwide perspective — is as precarious as ever, perhaps more so.
Robert Reich: Republicans lack specific policies but they have a story. Obama and the Democrats have lots of specific policies but don’t have a story. That spells even more trouble for Democrats.
Shamus Cooke: The housing market appears to be on a never-ending downward spiral, with the much-discussed “recovery” always around the next corner.
Tina Dupuy: The “don’t exploit this tragedy” knee-jerk catch-all phrase is absolutely meaningless. In American politics, we rule by crisis. There is no political will to act unless something is burning, melting or spewing. We don’t plan for the future – we brace for it.