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Obama, Congress focus on unemployment benefits
Obama, Congress focus on unemployment benefits Katherine Hackett, an unemployed Connecticut woman who introduced Obama, called the benefits “absolutely essential” to covering her necessities, such as her mortgage and health care, as she looked for work. She said she's cut expenses and “is not just 

Mel Watt becomes new chief overseeing Fannie, Freddie
Eulada Watt looks on in the Eisenhower Executive Office Building of the White House, January 6, 2014 in Washington, DC. (Olivier Douliery/Abaca Press/MCT) Watt, 68, said in a statement he was “honored” to lead the little known, but very

Mortgage Interest Rates

Understanding how mortgage interest rates are quoted

Paying for land to live in

With now House Speaker Gloria Macapagal Arroyo promising to lobby for Defense Secretary Delfin Lorenzana’s signing of the agreement, the deal may be all but sealed barring any complications, like Garcia’s return to the Capitol.

That said, if the agreement is signed before the elections it will have to be challenged in court which could take years before it is resolved. In the meantime, the families will have to agree to pay for their lots under the government’s community mortgage program.

And based on the statements of those settlers like Ma. Linda Paracuelles, the president of the Alliance of Barangay Apas Community Association (Abaca), they are willing to pay reasonable fees to the government if only to ensure that they continue to stay in the land they had lived on for generations.

This willingness to pay and to comply with laws set in the Constitution and enforced (supposedly but poorly) by government to legitimize their occupation of public land sets these families apart from the other settlers who simply move into any land either public or privately owned and stay there while expecting both the government and the public to help and understand their plight.

How lenders who prey on veterans hurt other homebuyers as well

All this may sound horrible, but it gets worse: Abuses in the VA mortgage-lending arena have spilled over onto borrowers in the much larger FHA market, which primarily serves first-time home purchasers and others who lack significant cash for a down payment.

The linkage is via a little-publicized but exceptionally important agency, the Government National Mortgage Association, or Ginnie Mae. Ginnie connects individual homebuyers and refinancers using federal mortgage programs with deep-pocket investors around the world — giant pension funds and banks, among others. Ginnie pools VA, FHA and U.S. Department of Agriculture rural housing loans into mortgage bonds, and provides a federal guarantee of timely payments to investors.

The inevitable result of the VA lenders’ predatory activities is an unusually high number of refinancings within the pools, which disrupts the expected long-term payment flows to investors. That, in turn, prompts investors to lower what they’ll pay for the bonds, and has the side effect of raising lenders’ interest-rate quotes to VA, FHA and rural homebuyers and refinancers.