Dispatch from Foreclosureland
Cross-posted with Mother Jones In August, I wrote about the Obama administration’s flawed $75 billion homeowner rescue effort, the Home Affordable Modification Program, and therein introduced readers to Florida homeowner Kristina Page. Page’s mortgage company, Saxon Mortgage Services, first told her it hadn’t heard of HAMP. Then, when Saxon finally admitted Page... Read More
The Illusion of Recovery in Subprime America
That’s the gist of my new piece published today at TomDispatch.com. While there’s plenty of projections and guesses on how long it’ll taking the housing industry to recover, far fewer are the firsthand, boots-on-the-ground reports on how struggling homeowners are faring right now with explosive interest rates, underwater mortgages, and uncooperative servicers or... Read More
