The Troubled Asset Relief Program (TARP) likely kept the banking industry afloat, and few doubt the necessity to keep the banking industry solvent for the sake of functioning markets and businesses. The bailout began under the president who encouraged the housing bubble in the first place, and was accepted by the Obama Administration as a […]
Stark Figures on Housing in Major Markets
The crash of the housing market might be behind us (although ‘Objects in Mirror May Be Closer Than They Appear’), but the recessionary effects abound, as does the detritus of the houses themselves. So many built on the belief that mortgages could be offered indefinitely, and paid back indefinitely as well. The momentum of the […]
The Social Costs of the Housing Crash: Hispanic Communities in NYC
Last week we posted a couple of reports pointing to the relative stability in the housing market that Baltimore has ‘enjoyed’ and how the faltering economy seems to have spurred growth in the non-profit sector. Today we are reminded of how important the qualifier ‘relative’ is. Optimists and bank executives largely believe the economy has […]
#PublicPolicy: Baltimore’s Crisis – Is a Sustainable Resurgence Possible in 2010?
The community/public-service website LiveBaltimore.com recently announced a free workshop entitled “Is Now The Right Time to Buy a Home?” The website then had to announce that the tsnownamis of 2010 have forced postponement. Keep an eye on the site, as LiveBaltimore will soon post the rescheduled event. Which begs the question, IS now the right […]
AWOL mortgage payers – strategy or selfish?
A follow up to our entry about mortgage modifications: Roger Lowenstein’s report in the NYTimes has caused a great stir in the blogosphere and among radio pundits. We (rightly) have a moral expectation of those who borrow wealth (be it money, our cars, or our favorite tool in the shed). Yet many folks are simply […]
Mortgage modifications can create more debt/risk
With the collapse of the housing market, we all relearned a concept usually associated with kids, summers at the pool, and vacations at the beach: underwater. The term now stirs feelings of unease, if not panic, as we feel ourselves pulled down by an undertow of debt payments and rising interest rates – especially as […]
NHS Baltimore & Baltimore Sun report on extra-legal debt collection
We are all too aware of how the debts in this country have grown beyond manageability over the last 15-plus years. Democratic and Republican administrations have allowed banks and financial services to write and rewrite their own terms almost at will, and too many customers accepted too-good-to-be-true terms without the necessary due diligence.
Neighborhood Housing Services of East Flatbush Website Launched
We launched a new website for Neighborhood Housing Services of East Flatbush earlier this week. NHS of East Flatbush revitalizes underserved neighborhoods by creating and preserving affordable housing. It offers homeownership education, financial assistance and opportunities for community leadership to neighborhood residents.