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Tuesday, August 04, 2009

The Plot Thickens

FDIC sends letter apprising banks of need to adjust ALLL on junior liens. This is a biggie. Housingwire article.

The next item - which I will henceforth refer to as Humpty Dumpty - is a new incentive program for servicers and investors. In this one (the HPDP segment of HAMP), the Treasury will pay an incentive each month for 24 months for successful modifications. The amount of the incentive is pegged to expected housing value depreciation. that's a right!

You may have recently read an article about the staggering number of Americans on anti-depressants. Having no plans to join them, I took the precaution of heading out and buying a lot of cleaners and a new, ultra-fancy mop before reading the Humpty-Dumpty program release. (Cleaning vastly improves my mood.) Thus, I only laughed until I cried, rather than beginning in broken-hearted sobbing and ending into a descent upon my doctor demanding pills. So be warned if you are not in a good mood.

I will write about this if I ever regain my composure. I had not in my lifetime ever expected to laugh harder at Treasury programs (try FinancialStability.gov) than SNL skits, but hey, sometimes art presages reality.

The gross internal products represent the increase in the dollar is considered, you he observe that the expeditures increases, when the local escape to lower. They are good? I consider a delay important of the economic life, one, in a position to have serious branches, if we are not client in the adapted strategies, the end to cure it. Do the small companies of the power survive? If no, people must give to return--it is not a film, this one is the truth. The finishes to a man, put an injector its title, the version, now increased city, lives in a world to watch to concentrate itself, societies in the following world, where they in the policy are the citizens, Abdul
Abdul must be Paula Abdul. Lay off the meds.
"Humpty Dumpty"? I fell off my chair laughing. That was top notch and truly made my day.

Ofcourse, I then did cry a bit.

Art presages reality indeed, though perhaps not quite as well.

I'd also like to thank you for your consistently excellent posts. They are an education.

The reason for the incentive may be to counteract the unfortunate reality that allowing consumers to lose their home to foreclosure creates more profit for the loan companies since they get to charge a 6% monthly penalty.

By the time the home is resold in foreclosure, the mortgage company could be looking at six months to a year or two of 6% in penalties taken from the sale price.

I think Abdul used google translator to translate his message into English, that is why the grammar is off.
God bless her, but I don't miss Tanta anymore.
That consumer financil protection agency proposed on Financial Stability sounds scary. Why don't we just go back to the old days, when banks took the hit if they made bad loans? I have yet to see any of these bureacracies do anything useful. I'd be happy to provide a rant about the nonsense that the WA state Department of Natural Resources is putting my boyfriend through.
Couldn't they have at least called it Home Economics Modification Project - HEMP. Would at least explain where the logic came from.
Or maybe Hump & Dump.
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