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Why did American Home Mortgage (Subsidiary of Wells Fargo) harass this NC Homeowner - Maggie Reaves?

Meet Maggie Walker Reaves, who has fought for years against harassment from American Home Mortgage. She speaks out against Wells Fargo and it&#39 ...

American home ownership is in sharp decline

Great news for landlords.

Contrary to the longstanding alleged American dream, dramatically fewer Americans are owning their own home. Home ownership rates nationally peaked in 2007 at 73%. Today, they’ve plummeted to 63%, a dramatic shift involving many billions of dollars. This has occurred in all regions and income groups across the country.

Except among senior citizens. According to a new Gallup Poll , the percentage of seniors owning their own home in that crowd actually increased, to 82%. Many of them may be at or near the end of long-term mortgages or have downsized and paid cash for a smaller place. Some have also benefited from state and federal government support programs.

Additionally, changing work patterns have helped sustain senior home ownership. More Americans over 65 are working, either by choice or necessity, enabling monthly mortgage payments.

Gallup notes the percentage of older Americans with low incomes below $30,000 a year has dropped significantly in recent years from 46% in 2009 to just 33% today, while holding steady in other age cohorts.

Private Equity Giant Lone Star Shakes Up North American Ranks

Lone Star Funds, a big private equity firm that specializes in buying up distressed assets — soured mortgages in particular — is undergoing a shake-up in the management of its North American operations.

Sam Loughlin, who had worked for the Dallas-based firm for nearly nine years, stepped down on Thursday as president of its North American division, the company said. He is being replaced by Nick Beevers, who had been a Lone Star executive vice president and came to the firm in 2011 to run its investor relations operation.

A memorandum from the president of Lone Star, André Collin, to Lone Star employees announcing the management changes did not provide an explanation for Mr. Loughlin’s decision. In the memo, a copy of which was reviewed by The New York Times, Mr. Collin said this was a “pivotal time” to “realize the substantial value of our North American portfolio.”

Mr.Obama: Eco. EASY FIX: deposit $1 million in each 40 million jobless/family's acct. instead of bankers.?

Mr.President Obama: You have within your reach, the USA economy EASY FIX.


The only thing you're right about...$40 Trillion (40mil X 1 mil) would do more than $500 million elsewhere...how about using a calculator (and some common sense) before coming up with such hare-brained ideas? Where do you think money comes from?