Category Archives: Foreclosure

Bailout cop: TARP’s not working

By doris | Published: February 3, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The watchdog charged with monitoring the government’s $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness. In his latest quarterly report to Congress, special inspector general Neil Barofsky said that the Troubled Asset Relief Program, or TARP, has [...]

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Bank failure tally reaches 140

By doris | Published: December 19, 2009

Full Story money.cnn.com Unlike the majority of banks closed this year, IBB did not take deposits from, or make loans to consumers. Instead, it offered a variety of services such as check clearing and credit card operations to community banks around the country that find it too costly to do this on their own. The [...]

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AIG chief Benmosche inks pay deal

By doris | Published: November 25, 2009

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — After balking at government imposed pay restrictions, American International Group’s chief executive Robert Benmosche has officially agreed to a $10.5 million non-compete contract, the company announced Tuesday. Benmosche, who was named CEO in August, had expressed frustration with the constraints placed on AIG by the government after the [...]

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FDIC pushes mortgage help for jobless

By doris | Published: September 12, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Some unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC. The Federal Deposit Insurance Corp. said on Friday it is encouraging certain banks to reduce mortgage payments for the unemployed or underemployed for [...]

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Mortgage help: Do you qualify?

By doris | Published: February 19, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — The eagerly anticipated foreclosure prevention program unveiled Wednesday by President Obama targets 9 million borrowers for help – are you one of them? The $75 billion effort, dubbed the Homeowner Affordability and Stability Plan, boils down to two basic solutions: First, the government is aiming to help [...]

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White House may move to buy bad mortgages

By doris | Published: February 15, 2009

Full Story At msnbc.com The White House is considering a proposal to head off potentially millions more home foreclosures by using federal funds to buy up at-risk loans and then refinance them with more affordable terms.

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