Widespread principal reductions could save taxpayers $2.8 billion

Here’s evidence showing the housing “recovery” isn’t real The immediate cause or trigger of the crisis was the bursting of the US housing bubble, which peaked in 2006/2007. Already-rising default rates on "subprime" and adjustable-rate mortgages (ARM) began to increase quickly thereafter.Easy availability of credit in the US, fueled by large inflows of foreign funds after the Russian debt crisis and Asian financial crisis of the 1997-1998 period.

Mortgage Principal Reduction Could Save Taxpayers $2.8 Billion By Gretchen Wegrich Updated on 6/3/2013. By Gretchen Wegrich. An investigation into the potential costs of a widespread mortgage princiapl reduction program discovered that taxpayers would benefit to the tune of $2.8 billion.

3 Jacob Gaffney, Widespread principal reductions could save taxpayers $2.8 billion, HOUSING WIRE, May 1, 2013. 4 Lawrence Summers, Why the housing burden stalls America’s economic recovery, FINANCIAL TIMES, Oct. 23, 2011 ("Surely there is a strong case for experimentation with principal reduction strategies at the local level").

Although it is not yet alarming as a percentage of GDP, the drastic reduction in foreign exchange. This severe economic recession could lead to a humanitarian crisis. There are widespread shortages.

 · It also could encourage homeowners who are making their monthly payments to fall behind in order to reduce the principal on their loans, adding to the $188 billion in taxpayer money already pumped into the companies to keep them afloat, said Edward DeMarco, acting director of the Federal Housing Finance Agency.

The bill has a $63 billion in spending for non-defense discretionary programs in the 2018 fiscal year ending Sept. 30, including $10 billion more for infrastructure programs.

Fannie Mae announces sweeping program for mortgage lender freedom from penalties Credit Cards in the Crosshairs – Bernanke characterized the regulations as “the most comprehensive and sweeping reforms ever. the same risky consumers whose mortgages the government encouraged (policies exhorted banks to make the.

Why is Ed DeMarco Blocking a Win-Win Housing Program? By Christopher. Widespread principal reduction for underwater homes has long been the Holy Grail for many observers of the housing market, as well as for those who believe the weak housing market is one of the heaviest burdens weighing on.

 · California’s com­mercial buildings could save 219 mil­lion therms of natural gas a year by installing solar hot water systems. Between the residential and com­mercial potential for solar hot water, California could save over a billion therms of natural gas,

Chicago area home prices up 14 percent in October The median list price of a home in Chicago is $240,000 which will buy you a home in Straight Outta Compton here in Los Angeles. Don’t believe the non-stop hype that buying a home is a no-brainer. You have to run the numbers.

This 30 Year Old Couple Paid Off Their 30 Year Mortgage in Just 6 1/2 Years!!! Its $2.8 billion budget was cut a mere $1.4 million dollars – less than a half-percentage point drop. Given the fiscal climate in Washington today, that’s a downright soothing number. And it.

The total state revenue loss over the next three years would be between $1.5 billion and $2.3 billion. By 2013, states could be losing as much as $6 billion annually.. -$2.8-$18.2-$32.6-$53.7. the exemption could be complicated to calculate because taxpayers could have lived in several.