Fannie Mae and Freddie Mac: The overhaul, which would only help a fraction of the country's 11 million underwater borrowers, is the latest government effort to breathe life into the crippled US housing market.
Home Affordable Refinance Program did not reach as many borrowers as officials had hoped. By including 'underwater' loans, the Obama administration hopes to stem the tide of foreclosures.
With the jobs bill stalled, Obama is bypassing Congress and using executive powers to enact change. Strapped homeowners and indebted students are first in line under his relief plan.
“Class warfare:” Lately this old term has been taking on new life as political theater, a way to rebuke Wall Street protestors, and, predictably, fodder for Fox News. According to Google, in just the last month alone, 3,870 articles have been published containing these words. Another way to express the concept of rich vs. not-so-rich is the expression, “The rich get richer and the poor get poorer.” It’s been around for a long time: According to Wikipedia, William Henry Harrison went there in 1840: “I believe and I say it is true Democratic feeling, that all the measures of the government are directed to the purpose of making the rich richer and the poor poorer.” I’m not going to take a stand on either side of the “class warfare” debate by saying that the rich do or don’t take unfair advantage of the rest of society. This is America, where we all have the potential to become rich. But I will say this unequivocally: The rich do get richer, or at least have the potential to. Let’s count the ways:
Credit scores will include estimates of annual income. FICO is developing separate credit scores to incorporate any payday loans, evictions, and child support payments.
The Occupy Wall Street movement is complex and raises many legitimate issues. Student loan debt is not one of them.
Who went to jail for malfeasance after the 2008 financial meltdown? DCDecoder looks at who was punished, who wasn't, and why.
Homeownership rate falls from 66.2 percent to 65.1 percent in the past decade. Homeownership gap between whites and blacks is biggest since 1960.