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Baker Mortgage

Dean Baker on Bogus Mortgage Settlement

Feb. 9, 2012 - Full of sound and fury, signifying another back door bailout. Dean Baker sets the story straight on BBC World News.

Why refinance now? Because your home equity, credit scores are higher than you think

In this article:

Refinancing your mortgage makes a lot of sense—if the math is in your favor. If you can reset your loan at a lower interest rate than what you’re currently paying, you may be able to:

Refinance now and save big Take cash out at closing to cover a home improvement project, pay off debt, or fund a major purchase Enjoy more financial flexibility

While mortgage rates have been trending higher, that doesn’t mean refinancing is off the table for everyone. You may want to lock in a 30-year rate if you currently have an ARM, eliminate mortgage insurance, or cash out some equity (mortgage financing is often the cheapest form of borrowing available).

Verify your new rate (Nov 9th, 2018) What the research found

The average national FICO credit score recently hit a new all-time high: 704. That’s good news for borrowers, because higher scores qualify for better loan rates and terms. FICO reports that the average score hit bottom, at 686, about 10 years ago.

Tanager v Kane: Irish Court of Appeal Rejects Technical Objection to Mortgage Enforcement

On 31 October 2018. The defendant mortgagor resisted the repossession claim by the purchaser of his loan (Tanager). Relevantly, this was a technical point which the High Court sent by way of a case stated (request for advisory opinion) to the Court of Appeal.

The Defendant's Argument

The defendant's argument was, in essence, as follows. The original loan and mortgage were provided to the defendant by Bank of Scotland (Ireland) Ltd (" BOSI "). On 31 December 2010 BOSI merged, pursuant to EU legislation, with Bank of Scotland plc (" BOS "). On 14 April 2014 BOS transferred its interest in the defendant's loan and mortgage to Tanager by way of a loan portfolio sale. BOS never became the registered owner of the charge (which had originally been registered in the name of BOSI). Upon completion of the loan sale Tanager became registered as the owner of the charge and in that capacity sought possession of the property upon the Defendant's default.

Is the banking/mortgage meltdown the goverment's fault to begin with?

Does this crisis show the failure of capitalism? Or does it show the failure and arrogance of government meddling? Is it possible that ONE MAN is responsible?


This is really oversimplified. The US doesn't have a purely capitalist economy. It has a mixed economy that combines elements of a free market economy and a socialized economy.