Mortgage Foreclosure & Refinance Resource

PERHAPS the greatest scandal of the mortgage crisis is that it is a direct result of an intentional loosening of underwriting standards - done in the name of ending discrimination, despite warnings that it could lead to wide-scale defaults.
At the crisis’ core are loans that were made with virtually nonexistent underwriting standards - no verification [...]

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Arizona Sen. John McCain said Tuesday that government help related to the slow housing market and resulting credit crunch should go to homeowners, not speculators. Any assistance to the financial sector should be based on preventing a major economic collapse, he said.
McCain addressed the housing market and financial problems while in California. California, Arizona, [...]

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The mortgage meltdown continues this week with JPMorgan buying Bear Stearns (BSC) for a 98% discount, about $236 million (next to nothing). In fact, the Bear Stearns building on Madison Avenue itself is worth more than the entire buyout, valuated at about $1 billion dollars.
What does this mean for home owners  who are facing foreclosure [...]

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