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subprime mortgage lenders in michigan - News

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LOOPHOLE FOR FOREIGN BANKS MAY CLOSE | For three years, overseas banks like Barclays, Deutsche Bank and Credit Suisse have not had to comply with parts of the Dodd-Frank Act, which aims to limit banks' potential losses on loans and trades, simply

Bailed-out banks issued riskier loans
issued riskier loans. ( —Banks that received federal bailout money approved riskier loans and shifted capital toward risky investments, according to a University of Michigan researcher. TARP banks shifted their credit origination

DETROIT BANKRUPTCY SHOCK: JUDGE SHOOTS DOWN BANKS PAY-OFF He said the swaps proposal could not be looked at without putting it in the broader context that the banks involved were among those which caused the global financial collapse of 2008, largely through subprime predatory lending policies. The federal

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Email - - Phone 2488227121. The economy is in a slump, the housing market is collapsed. Best time to buy is now, but ...

Owe taxes? That's OK. Wayne County will still sell you foreclosed ...

The county’s failure to do simple due diligence on the 3,000-plus buyers at its annual auctions means some of the biggest bulk buyers are able to add more homes to their portfolios year after year without being current on taxes, despite a 2014 state law intended to end the practice.

“The law basically just says check this box if you’re willing to lie,” said Michele Oberholtzer, who leads tax foreclosure prevention efforts for the United Community Housing Coalition, a Detroit nonprofit. “It is inadequate in addressing abuse.”

Other counties, such as Oakland and Genesee, have safeguards to prevent delinquent owners from buying at tax auctions. But Wayne County, which has sold close to 150,000 parcels since 2002 , has allowed investors to buy cheap homes, do no repairs, and avoid paying taxes until they are foreclosed again, Bridge found.

The foreclosures have fundamentally changed scores of Detroit blocks including Monte Vista Street on the city’s west side. Ten years ago, there were 22 homes on Cassandra Williams’ block. All but seven have been tax foreclosed, records show, and are now blighted or have been demolished.

How Canadians could walk away from their homes if house prices fall

Only it’s not that straightforward.

What is far less known is the fact that insolvency legislation in Canada supersedes a lender’s right to sue a homeowner for a shortfall. In other words: if a homeowner who is unable to make mortgage payments files either a personal bankruptcy or a proposal in Canada, the shortfall (now unsecured) is included in the insolvency proceeding and fully dischargeable.

It’s the Canadian insolvency version of America’s jingle mail.

Let’s step back for a moment. A mortgage is, of course, a secured debt. The lender has the security of the asset in case of default. But in the event of a shortfall (and default), that secured debt becomes unsecured—just like any credit card or unsecured line of credit—and the lender must then rely on civil court to collect on the loss (shortfall).

But a lender cannot take court action when a Canadian insolvency proceeding is underway, nor afterward as the debts are then legally discharged.

In 2002, why did Bush order 440 BILLION in subprime loans from fannie mae/freddie mac?

Here is the video...go to the 4 minute mark to hear him say it. S8

Here is the offical white house text of that speech he gave in atlanta on june 17, 2002.

Because the Tea Party only cares about their so called bogus "cause" when it's not a Republican. How many millions of republicans supported Bush during those times, how many republican politicians supported Bush during those times.