The stimulus bill has not passed Congress yet, but there is a lot of excitement in the housing industry about the $15,000 tax credit contained in the bill. The President is eager to get the bill passed through Congress and signed into law. Regardless of the wisdom of the bill (and I know there are [...]

Apparently Citigroup has dropped its opposition to amending bankruptcy law in an effort to reduce foreclosure rates. Now that the Feds control a portion of Citigroup that was to be expected. Here is the story from WSJ today:
WASHINGTON — A Senate bill aimed at giving strapped homeowners more leverage in renegotiating their mortgages cleared a [...]

Okay most everyone knows what I think about this massive bailout package Congress is about to pass. In case you missed it, I think it’s a sham. Seriously. A big sham. How else do you explain this to the 30% of tax payers who are not homeowners. How about the 80%+ homeowners who pay their bills [...]

One of the most common questions I receive from readers of this blog is regarding the status of the FHA Modernization Bill. Both chambers have passed differing versions of the same bill and the outstanding issues need to be resolved before it can be sent to the President for his signature. The President has [...]