I was reflecting on current mortgage lending where it’s not unusual for a borrower to have a large loan in first position and a smaller loan or HELOC in second position when arranging for the financing to purchase a home. That led me to think back to the days when second loans weren’t used, [...]

Anyone who has been following the news about the Treasury and the various bank bailout problems probably has some idea that fairly large financial institutions are holding quite a bit of toxic legacy assets which are based on the home loans produced over the past few years.  The Treasury and the financial institutions are saying [...]

Government-controlled mortgage finance companies Fannie Mae and Freddie Mac said Friday they have immediately suspended all foreclosure sales involving occupied single-family and 2-4 unit properties through March 6, to give troubled borrowers more time to work with loan servicers to avoid losing their homes.
From the AP
Wells Fargo, Bank of America Corp., Citigroup Inc. and J.P. [...]

Looking through the news today, I noticed many articles with blurbs about Obama’s plans to fix the economy, get millions more Americans working and provide a base for housing prices.  Mix that with blurbs from local and state politicians and their foreclosure prevention thoughts for a nice soup of conflicting thoughts and plans.
Knowing everyone involved [...]