The consent agreements the bailed-out bankers (B.O.B.s), the feds and the states are largely as had been promised. One big surprise, however, is that the B.O.B.s would now be allowed to systematically overcharge borrowers and steal their homes. Seriously.
Jesse Eisinger has a great artice in the NYT, “After Bailout, Giants Allowed to Dominate the Mortgage Business,” which says a great deal about how the Fed looks at the economic world. Allow me to expand on Jesse’s work. The problem ... Read Post
One of the attractive features of the HECM reverse mortgage has been that there are no income or credit requirements. All homeowners 62 and older who live in their homes without a mortgage have been eligible, and those with mortgage... Read Post