Archive for 2009
From 2007 through 2009 Mortgage Blues reported on the subprime crisis. Daily articles highlighted a nation in turmoil as financial greed and abuse rocked the country.
From our Saxon Mortgage watchdog and consumer advocacy website comes this information concerning the HAMP program. The information was submitted by a HAMP applicant who initially was told of missing paperwork. The complaint is frequently heard about mortgage servicers including Saxon Mortgage. Citigroup had similar complaints about missing paperwork.
We went to the Country Store in our town. The people shopping inside were either men with lists or the wives of the men sitting outside on the bench in the sun. The conversation outside went around to the recession being over and the amount of stimulus money spent. It is strange that the men in the country are treated with disdain, but can provide such insight into the day to day problems. The following are snatches of various conversations:
To those smug individuals asking if I am smarter than a subprime borrower, then I have a subprime math question for you.
This is the quote of the week at Mortgage Blues: “”People have been celebrating that we’re through the financial crisis, but the underlying issues are all still there,” said Dean Baker, co-director of the Center for Economic and Policy Research. “We’ve lost trillions of dollars in housing wealth, and consumption’s going to be weak. It’s not the ’30s, but there’s really nothing to boost the economy.”"