Obama has come up with a new plan to save the economy. The following are instructions on how to make the equivalent of between $52,000 and $76,000 (or more) for at least two years, and possibly up to six years… Read More ›
strategic default
How To Live Life Large While In Foreclosure
In recent Angrywoodchuck posts you’ve read about how strategic default is the new black. For Alex Pemberton and Susan Reboyras, their foreclosure has been a blessing in disguise. They’ve been able to use the money that they once wasted on… Read More ›
FDIC – Time To Pay Your Neighbors Mortgage
Another example today of moral hazard as the FDIC announces plans to test principal reductions. A principal reduction is when the bank allows a foreclosed homeowner to have their total home loan value reduced, also known as a “cram-down” or “principal… Read More ›
