Government Mortgage Relief Programs, federal mortgage assistance.#Federal #mortgage #assistance


Government Mortgage Relief Programs

Government Mortgage Relief Programs

The purpose of a mortgage loan modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. This is achieved by modifying one or more components of your mortgage:

  • Lowering the interest rate
  • Extending the life of the loan
  • Lowering the loan principle

Home Affordable Refinance Program (HARP)

Many homeowners pay their mortgages on time, but are not able to refinance to take advantage of today’s lower mortgage rates, mainly due to a significant decrease in the value of their home. A Home Affordable Refinance will help borrowers refinance their first mortgage even if the balance owed is more than 100% of the home value. For example, let’s say the amount you owe on your first mortgage is $500,000. You may be able to refinance even if the home value is now only $400,000.

Hardest Hit Fund (HHF) Programs

The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance. This helps people either afford the homes they’re in, or move to more affordable housing.

Home Affordable Unemployment Program (UP)

The Home Affordable Unemployment Program reduces or suspends mortgage payments for 12 months or more for homeowners who are unemployed. If you qualify, your mortgage payments may be reduced to 31% of your income or fully suspended.

Principal Reduction Alternative (PRA)

The Principal Reduction Alternative encourages your mortgage lender to reduce the amount of principal you owe. Currently there are over 100 loan servicers participating in this program.

FHA Home Affordable Modification Program (FHA-HAMP)

The Home Affordable Modification Program, or HAMP, has helped many homeowners lower their payments and save their homes from foreclosure. The Federal Housing Administration has a HAMP program targeted specifically for the loans they insure.

The Home Affordable Foreclosure Alternatives (HAFA) Program

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale or a Deed-in-Lieu of Foreclosure.

Second Lien Modification Program (2MP)

The Second Lien Modification Program helps homeowners with a second mortgage on their home. This applies to properties where the first mortgage was modified under the Home Affordable Modification Program (HAMP).


Government Mortgage Relief Programs, mortgage assistance.#Mortgage #assistance


Government Mortgage Relief Programs

Government Mortgage Relief Programs

The purpose of a mortgage loan modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. This is achieved by modifying one or more components of your mortgage:

  • Lowering the interest rate
  • Extending the life of the loan
  • Lowering the loan principle

Home Affordable Refinance Program (HARP)

Many homeowners pay their mortgages on time, but are not able to refinance to take advantage of today’s lower mortgage rates, mainly due to a significant decrease in the value of their home. A Home Affordable Refinance will help borrowers refinance their first mortgage even if the balance owed is more than 100% of the home value. For example, let’s say the amount you owe on your first mortgage is $500,000. You may be able to refinance even if the home value is now only $400,000.

Hardest Hit Fund (HHF) Programs

The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance. This helps people either afford the homes they’re in, or move to more affordable housing.

Home Affordable Unemployment Program (UP)

The Home Affordable Unemployment Program reduces or suspends mortgage payments for 12 months or more for homeowners who are unemployed. If you qualify, your mortgage payments may be reduced to 31% of your income or fully suspended.

Principal Reduction Alternative (PRA)

The Principal Reduction Alternative encourages your mortgage lender to reduce the amount of principal you owe. Currently there are over 100 loan servicers participating in this program.

FHA Home Affordable Modification Program (FHA-HAMP)

The Home Affordable Modification Program, or HAMP, has helped many homeowners lower their payments and save their homes from foreclosure. The Federal Housing Administration has a HAMP program targeted specifically for the loans they insure.

The Home Affordable Foreclosure Alternatives (HAFA) Program

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale or a Deed-in-Lieu of Foreclosure.

Second Lien Modification Program (2MP)

The Second Lien Modification Program helps homeowners with a second mortgage on their home. This applies to properties where the first mortgage was modified under the Home Affordable Modification Program (HAMP).


Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Areas Impacted by Projected


YahooFinance

Mortgage assistance

WASHINGTON , Oct. 6, 2017 /PRNewswire/ — In our ongoing efforts to support victims of natural disasters, Fannie Mae (OTC Bulletin Board: FNMA) is reminding those in areas impacted by projected and recent Hurricanes Nate, Maria, Irma, and Harvey of the options available for mortgage assistance.

Homeowners impacted by recent hurricanes are currently eligible to temporarily stop making monthly mortgage payments for three-month intervals (up to 12 months). At the end of this temporary payment break, homeowners:

  • Will not incur late fees.
  • Will not have delinquencies reported to the credit bureaus.
  • Will not be forced to catch up on all payments at once.
  • Can work with their servicer to resume making a mortgage payment that is similar to what was being paid before the disaster. Or, if homeowners need additional assistance, they can work with their servicer on options to keep their home.

Under Fannie Mae’s existing guidelines and extended relief flexibilities for all hurricanes occurring in the U.S. and its territories on or after August 25, 2017 and through the 2017 hurricane season:

  • Servicers are authorized to suspend or reduce a homeowner’s mortgage payments immediately for up to 90 days without any contact with the homeowner if the servicer believes the homeowner has been affected by a disaster. Additional payment forbearance of up to 12 months is available in many circumstances.
  • Servicers must suspend foreclosure and other legal proceedings if the servicer believes the homeowner has been impacted by a disaster.
  • Lenders and servicers will be reimbursed for the costs associated with inspecting properties impacted by the storms.
  • Credit underwriting and appraisal documents can be up to 180 days old at time of closing.
  • Additional guidelines for mortgage assistance options can be found here.

“We want to ensure those in the path of these storms have peace of mind and time to focus on their safety. Fannie Mae and our lending and servicing partners are focused on ensuring assistance is offered to individuals and families in need,” said Carlos Perez , Senior Vice President and Chief Credit Officer at Fannie Mae.


The Mortgage Lender Implode-O-Meter – tracking the housing finance breakdown, related to Alt-A and subprime


Housing Economic Crisis News Picks

  • Square Cash is letting some users buy and sell Bitcoin – [2017-11-15]
  • Household debt rises by $116 billion as credit-card delinquencies pile up – [2017-11-15]
  • Richest 1% own over half the world’s wealth – [2017-11-15]
  • After periodic drops of 20 percent, bitcoin tends to come back even stronger – [2017-11-14]
  • Venezuela’s Bondholder Meeting Is a Bust as S P Declares Default – [2017-11-14]
  • Ray Dalio Buys $500 Million In Gold EFTs In Q3 – [2017-11-14]
  • Subprime Auto Delinquency Is Near Crisis Levels at Non-Bank Lenders – [2017-11-14]
  • How to Break Out of Our Long National Tax Nightmare – [2017-11-13]
  • The Cattiness Of Wells Fargo Executives Rivals The Ladies From Dynasty – [2017-11-13]
  • Debt swap problems pile up in China – [2017-11-12]

Latest Posts from the ML Forum!

Go to the forum!

Imploded* Lenders™

About The Implode-o-Meter

ML-Implode.com was created in late 2006 to raise the alarm about the then-burgeoning implosion of the historically-epic housing and economic bubble. Started as a modest web page created by founder Aaron Krowne, this objective was achieved by, uniquely, tracking the in-progress implosion of independent mortgage lending companies then being ignored by a mainstream media in denial of even the existence of the housing bubble. At that time, you were more likely to hear a partyline of “housing always goes up” and juvenile jeers of “bubbles are for bathtubs” from TV’s talking heads, than of even slight concern about a clearly-overextended, already-frozen housing market.

Operated as a broadly-open community forum, ML-Implode quickly took the lead in news about the mortgage implosion and subprime crisis, as industry professionals flocked to the site to share and find out the latest. The site even became, in part, a whistleblower platform, fighting (and winning) half a dozen lawsuits to defend the right of its contributors to post about corruption and malfeasance in financial companies, and be able to do so confidentially.

Despite its initial incarnation being rendered insolvent by these frivolous legal attacks, ML-Implode continues today in a stripped-down, lean-and-mean embodiment, remaining dedicated to tracking the fallout of the 2007-2008 credit crisis. This mission includes keeping tabs on recession/depressionary conditions, the policy response to the economic downturn and continued financial instability, the Fed and other global central bank interventions (including “ZIRP” and quantitative easing), actions and reforms of the monetary authorities, market manipulation (official and private sector), all global geopolitical conflict with economic roots, the evolution of the banking and monetary system (including dollar-alternative “reserve currencies”, gold, silver, and bitcoin and other “virtual currencies”), the effect of the economic turmoil on society, basic themes of economic fairness and justice, and much more.

We continue to doggedly watch all of these interconnected topic areas, daily picking the most important stories and commentaries, and bringing them together in a convenient and comprehensible form on this site. If you share our concerns, utilize one of the icons at the top of this page to “follow” us by twitter, RSS, email, and more.

Featured

Government mortgage assistance


New York State Mortgage Assistance Program – Home, New York State Mortgage Assistance Program, government


At Risk of Foreclosure? We May Be Able To Help.

If you’re at risk of losing your home because you’ve missed payments and have exhausted all other sources of help, the New York State Mortgage Assistance Program may be an option for you.

NYS-MAP provides a 0% interest mortgage loan up to $40,000 to eligible New York homeowners at risk of foreclosure.

To see if you might be eligible for the New York State Mortgage Assistance Program, please fill out the following form so that we can connect you with a government-vetted non-profit housing counselor or legal services provider in your region.

Questions?

Contact us at 855-NYSMAP-3.

We care about your privacy.

What You Need to Know:

Who administers the program?

The New York State Mortgage Assistance Program is administered by the Center for NYC Neighborhoods, a non-profit organization that promotes and protects affordable homeownership. Loans are made by Sustainable Neighborhoods LLC, a wholly-owned subsidiary of the Center.

To learn more about the Center for NYC Neighborhoods, visit cnycn.org. You can also view our non-profit status here.

Who is eligible?

To be eligible, homeowners must have experienced a financial hardship and must demonstrate an ability to afford their housing payments after receiving assistance. There are other requirements a homeowner must also meet in order to be eligible, which the housing counselor or legal services provider we refer you to will explain in detail.

What can loan funds be used for?

Funds can be used to bring a mortgage current, help get a modification, pay off a mortgage or property tax arrears, or settle other debts that could lead to foreclosure.

What are the loan terms?

The loans made under NYS-MAP are mortgage loans that carry 0% interest. No monthly installment payments are required on the loan during its term but the full principal amount is due on the sale or refinance of the home or upon default.

Who vets the housing counseling and legal services providers?

All referrals are made to foreclosure professionals in your community who have been vetted by the New York State Attorney General’s Homeownership Protection Program.

How do I know this isn’t a scam?

The New York Attorney General’s Office helped develop the New York State Mortgage Assistance Program. You can read the press release here. Learn how to spot a scam on the AG’s scam prevention site.

  • Government mortgage assistance
  • Government mortgage assistance

California Housing Finance Agency, CalHFA, government mortgage assistance.#Government #mortgage #assistance


CalHFA supports the needs of renters and homebuyers

Government mortgage assistance Government mortgage assistance Government mortgage assistance Government mortgage assistance

  • Government mortgage assistance
  • Government mortgage assistance
  • Government mortgage assistance
  • Government mortgage assistance
  • Government mortgage assistance
  • Government mortgage assistance

Homebuyers

Government mortgage assistance

Government mortgage assistance

CalHFA Homeowners

Government mortgage assistance

Government mortgage assistance

Lenders/Realtors

Government mortgage assistance

Government mortgage assistance

Government mortgage assistance

Multifamily Developers/Managers

Government mortgage assistance

Government mortgage assistance

What’s New at CalHFA

  • Program Bulletin #2017-13 – Proposed Federal Tax Reform and the Uncertainty of Mortgage Credit Certificate Program
  • Press Release 2017-11-09 – CalHFA Launches New Path to Homeownership for Service Members and Veterans
  • Video – Cal-EEM + Grant helps homebuyers with $24,000 of energy upgrades
  • Press Release 2017-10-03 – CalHFA Increases Access to Manufactured Home Loans
  • Program Bulletin #2017-12 – Closing Document Revisions for MyHome Assistance Program and Extra Credit Teacher Home Purchase Program (ECTP) when combined with a CalHFA Government Insured/Guaranteed First Mortgage
  • Program Bulletin #2017-11 – CalHFA Launches New CalHFA VA Loan Program
  • Press Release 2017-09-14 – Michael Carroll is CalHFA s New Director of Multifamily Programs
  • Program Bulletin #2017-10 – Updated Sales Price Limits
  • Program Bulletin #2017-09 – Updated Income Limits for all CalHFA Conventional and FHA Loan First Mortgage Programs
  • Program Bulletin #2017-08 – Updates to Manufactured Housing Guidelines for All CalHFA FHA Loan Programs
  • Press Release 2017-07-11 – CalHFA Helps Hundreds with Free Homebuyer Education
  • Program Bulletin #2017-07 – Escrow Holdbacks Allowed and Name Change for the Notice of Conditional Approval
  • Get to know CalHFA and our programs by viewing our Video Library.
  • Enews announcements can be found on our Archived Page.

Hardship Foreclosure Assistance

  • Keep Your Home California programs are designed for homeowners who are struggling to pay their mortgages.

Government mortgage assistance

  • The Home Affordable Refinance Program (HARP) is available on loans owned by Fannie Mae and Freddie Mac. If these loans were insured by the California Housing Loan Insurance Fund they may be eligible to have existing mortgage insurance transferred to a new refinance loan.

Other Information

  • Government mortgage assistanceThe California Victims Compensation Board is available to help California victims of the October 1 shooting in Las Vegas. If you’ve lost a family member, been injured or attended the Route 91 Harvest Festival where this terrible tragedy occurred on Sunday night, CalVCB can provide financial assistance. Visit the California Victims Compensation Board website and news release for more information.
  • Public Notice: Environmental Assessment For Whittier Downey SE Apartments (300 MB)
  • Public Notice: Environmental Assessment For North San Pedro Studios
  • Public Notice: 2017 Mortgage Credit Certificate Program
  • Veterans Housing and Homelessness Prevention Program (VHHP)
  • 2014 California Affordable Housing Cost Study
  • Language Access Complaint Form /Formulario de queja de acceso por idioma

Government mortgage assistanceGovernment mortgage assistance

Government mortgage assistance Government mortgage assistance Government mortgage assistance Government mortgage assistance Government mortgage assistance Government mortgage assistance


Government Mortgage Relief Programs, federal mortgage assistance.#Federal #mortgage #assistance


Government Mortgage Relief Programs

Government Mortgage Relief Programs

The purpose of a mortgage loan modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. This is achieved by modifying one or more components of your mortgage:

  • Lowering the interest rate
  • Extending the life of the loan
  • Lowering the loan principle

Home Affordable Refinance Program (HARP)

Many homeowners pay their mortgages on time, but are not able to refinance to take advantage of today’s lower mortgage rates, mainly due to a significant decrease in the value of their home. A Home Affordable Refinance will help borrowers refinance their first mortgage even if the balance owed is more than 100% of the home value. For example, let’s say the amount you owe on your first mortgage is $500,000. You may be able to refinance even if the home value is now only $400,000.

Hardest Hit Fund (HHF) Programs

The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance. This helps people either afford the homes they’re in, or move to more affordable housing.

Home Affordable Unemployment Program (UP)

The Home Affordable Unemployment Program reduces or suspends mortgage payments for 12 months or more for homeowners who are unemployed. If you qualify, your mortgage payments may be reduced to 31% of your income or fully suspended.

Principal Reduction Alternative (PRA)

The Principal Reduction Alternative encourages your mortgage lender to reduce the amount of principal you owe. Currently there are over 100 loan servicers participating in this program.

FHA Home Affordable Modification Program (FHA-HAMP)

The Home Affordable Modification Program, or HAMP, has helped many homeowners lower their payments and save their homes from foreclosure. The Federal Housing Administration has a HAMP program targeted specifically for the loans they insure.

The Home Affordable Foreclosure Alternatives (HAFA) Program

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale or a Deed-in-Lieu of Foreclosure.

Second Lien Modification Program (2MP)

The Second Lien Modification Program helps homeowners with a second mortgage on their home. This applies to properties where the first mortgage was modified under the Home Affordable Modification Program (HAMP).


Federal Assistance in the United States Free Government Money, federal mortgage assistance.#Federal #mortgage #assistance


Federal Assistance in the United States

The government provides upwards of $600 billion dollars annually in assistance to citizens of the United States! Understanding Federal Assistance can help you get what you need. First, it takes many forms and has other names like aid, benefits, and funds. The government focuses on areas such as education, health, safety, welfare, and works which include schools,hospitals, roads, and parks.

Funding is administered by agencies like the U.S. Department of Health and Human Services, the U.S. Department of Agriculture and the U.S. Department of Housing and Urban Development (HUD). The Department of Education is a huge provider of education grants.

Hundreds of individual programs are made available through government agencies that are responsible for local administration. Like assistance, “programs” is a broad term for many activities and services of the federal government. In addition to those below see our article Free Tax Help for assistance with tax returns and payments.

Discover your program today!

Federal Assistance Programs

Federal aid is not always defined as benefits provided to individuals. Sometimes Federal Aid comes in the form of massive help at times of major disasters and emergencies. Hurricane Harvey is a good example — and Irma is not far behind. HHS (the U.S. Department of Health and Human Services) sent over 400 medical staff including doctors and nurses to provide aid to Texas and Louisiana. The medical workers came from all over the nation and more are on alert. The department also provided aid ahead of the storm, helping affected localities to assist homes where medical equipment was in use that required electricity.

Some people complain that the U.S. provides little assistance to people and that our poverty level is higher. In fact quite the opposite is true. Recent studies – even by liberal scholars! – show that to be true. Sometimes comparisons can be hard because programs have so many names — but read on to see what programs there are and how you can find out about them.

Examples of Federal Assistance programs

You can find information about these and other assistance programs in Low Income Help.

Remember that grants made by the federal government typically go to states and other agencies rather than directly to individuals. On a more local level these funds then go to communities, families and individuals. Total grant funds over the past several years have mostly edged up each year. In 2012 the total was $544.2 billion; that figure went to $521.1 billion in 2013, 602.6 billion in 2014, and $614.5 billion in 2015. Those figures do not include “Other Financial Assistance” money that does go directly to individuals. Those funds include things like unemployment benefits, Medicare, food stamps and Payments to Veterans to reimburse them for prescriptions.

In 2016 the government has provided close to $628 billion in various forms of assistance. Details about specific amounts and where the money has been spent are provided on usaspending.gov. Though the site claims to tell you how the money is spent, it really does a better job telling you where the money is spent — i.e. how much in what states — rather than how it is spent. You can see totals by agency, and you can see agency profiles, but you will not see details about how money is actually spent. To learn more you can see more fairly general categories provided by each agency on their individual websites.

Don t be surprised if your funding is only partially what you had hoped for when applying for a grant or award. After applying directly to the administering federal agency, an amount of assistance is determined. Because many may apply for the same assistance, this division is a necessity.

Some awards have a “Period of Availability of Federal Funds” which is a duration during which the recipient may use the assistance. Generally, grants have a term of one year and you must use the assistance within that time period. As federal assistance is tied to the federal government s budget process, money may be re-apportioned to other uses after the promised period.

There are particular segments of the population that have major grant allotments dedicated to them. Two examples are Veterans and people with disabilities. The U.S. Veterans Administration is responsible for a wide variety of benefits, grants and programs for those who have served in the military – and their families. The VA website is soon to be updated but does currently provide information on all of those benefits and services. The most well known are veterans mortgage help programs and also aid for veterans education expenses.Until recently there was also a site dedicated to helping the disabled and their caregivers. Unfortunately that seems to have gone away but you can still find some resources if you try to access it. With any luck it will come back!

Ever wonder which states receive the most in federal aid, and which states turn out to be what are sometimes called “donor states”? Wallethub was curious and did an analysis for some answers. While the results are confusing and hard to translate into meaningful impact on citizens, a portion of the study related to state taxation was interesting. It ranked states in terms of its taxpayers’ “return on investment” (ROI) for the taxes they paid. New Hampshire — with very low state tax rates, ranked first, with an overall services from government coming in at number 5, an excellent score. On the other hand California — one of the highest taxing states, ranked #47 for taxpayers’ ROI and ranked only #32 in terms of the government’s overall services to its citizens. Not impressive.

Remember when receiving assistance from the government that the U.S. is committed to transparency and honesty. Recipients agree to comply with laws, regulations, and stipulations of the money they are given. As this money is essentially derived from taxes, know that the money you Federal mortgage assistance are given is a shared burden. Failure to comply may lead to suspension, exclusion, penalties, fines, and sanctions. Details are composed in the Code fo Federal Regulations, made available by the Office of Management and Budget Circular letters.


Eglin Federal Credit Union, federal mortgage assistance.#Federal #mortgage #assistance


federal mortgage assistance

Federal mortgage assistance

Equifax Data Breach: What to Do

Find out what you can do to protect yourself if you are affected by a data breach.

Federal mortgage assistance

Faster Processing

Transactions now post to your account faster with same day ACH. Make sure you have funds available.

Federal mortgage assistance

SPIRIT Quarterly Newsletter

SPIRIT features educational articles and information about EFCU products, services and events.

Federal mortgage assistance

CUDL AutoSMART

AutoSMART is the quick and easy way to research and shop online for your next car, truck or van.

no closing costs

*APR = Annual Percentage Rate.

838 Eglin Parkway NE, Fort Walton Beach, FL 32547-2781

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While most elements of our website will function on earlier versions of the browsers listed above, we highly recommend updating your browser to the current version.

The Microsoft Root Certificate Program supports the distribution of root certificates, enabling trust among Windows clients. To date, Microsoft has approved nearly one hundred commercial and government CAs for participation in the Program.

Microsoft Root Certificate Program.

To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens or signs on an account.

When you open an account, we will ask you for your name, physical address, date of birth and other information that will allow us to identify you.

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The Mortgage Lender Implode-O-Meter – tracking the housing finance breakdown, related to Alt-A and subprime


Housing Economic Crisis News Picks

  • Square Cash is letting some users buy and sell Bitcoin – [2017-11-15]
  • Household debt rises by $116 billion as credit-card delinquencies pile up – [2017-11-15]
  • Richest 1% own over half the world’s wealth – [2017-11-15]
  • After periodic drops of 20 percent, bitcoin tends to come back even stronger – [2017-11-14]
  • Venezuela’s Bondholder Meeting Is a Bust as S P Declares Default – [2017-11-14]
  • Ray Dalio Buys $500 Million In Gold EFTs In Q3 – [2017-11-14]
  • Subprime Auto Delinquency Is Near Crisis Levels at Non-Bank Lenders – [2017-11-14]
  • How to Break Out of Our Long National Tax Nightmare – [2017-11-13]
  • The Cattiness Of Wells Fargo Executives Rivals The Ladies From Dynasty – [2017-11-13]
  • Debt swap problems pile up in China – [2017-11-12]

Latest Posts from the ML Forum!

Go to the forum!

Imploded* Lenders™

About The Implode-o-Meter

ML-Implode.com was created in late 2006 to raise the alarm about the then-burgeoning implosion of the historically-epic housing and economic bubble. Started as a modest web page created by founder Aaron Krowne, this objective was achieved by, uniquely, tracking the in-progress implosion of independent mortgage lending companies then being ignored by a mainstream media in denial of even the existence of the housing bubble. At that time, you were more likely to hear a partyline of “housing always goes up” and juvenile jeers of “bubbles are for bathtubs” from TV’s talking heads, than of even slight concern about a clearly-overextended, already-frozen housing market.

Operated as a broadly-open community forum, ML-Implode quickly took the lead in news about the mortgage implosion and subprime crisis, as industry professionals flocked to the site to share and find out the latest. The site even became, in part, a whistleblower platform, fighting (and winning) half a dozen lawsuits to defend the right of its contributors to post about corruption and malfeasance in financial companies, and be able to do so confidentially.

Despite its initial incarnation being rendered insolvent by these frivolous legal attacks, ML-Implode continues today in a stripped-down, lean-and-mean embodiment, remaining dedicated to tracking the fallout of the 2007-2008 credit crisis. This mission includes keeping tabs on recession/depressionary conditions, the policy response to the economic downturn and continued financial instability, the Fed and other global central bank interventions (including “ZIRP” and quantitative easing), actions and reforms of the monetary authorities, market manipulation (official and private sector), all global geopolitical conflict with economic roots, the evolution of the banking and monetary system (including dollar-alternative “reserve currencies”, gold, silver, and bitcoin and other “virtual currencies”), the effect of the economic turmoil on society, basic themes of economic fairness and justice, and much more.

We continue to doggedly watch all of these interconnected topic areas, daily picking the most important stories and commentaries, and bringing them together in a convenient and comprehensible form on this site. If you share our concerns, utilize one of the icons at the top of this page to “follow” us by twitter, RSS, email, and more.

Featured

Government mortgage assistance