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Click here to visit the new home of Politics Daily!A California man lost his job and was losing his home to the bank and his wife to cancer. Now police are investigating whether he killed his wife before setting their home on fire and taking his own life. Authorities removed two bodies from the rubble of the two-story house in San Diego County this past weekend. Neither of the victims has been identified, but county records show the home, which was recently foreclosed on by World Savings Bank, had been owned by Michael Cour, 60, and Janice Gervais, 70, the Los Angeles Times reported. David Brooks, San Diego Union-Tribune / Zuma A ...
Wait: Even in politics, 2010 was the year of zombies? Sure, the hot new wonky tome "Zombie Economics" tells how "dead" economic theories walk among us to shape our paychecks, and sure, zombies lumber out of our TVs almost no matter what channel we click to, and sure, my fellow fantasy prose-slingers are flinging new novels about the undead at the dust of Stephen King and George Romero, but zombies as a metaphor for 2010's politics? Come on! What happened to vampires? Vampires are a great political metaphor! Bloodsuckers. Say no more. But zombies? Who are they in America's 2010 ...
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WASHINGTON (Nov. 18) -- More than half of the 1.4 million homeowners who enrolled in the Obama administration's flagship foreclosure-prevention program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. But the latest report from the Treasury Department shows that the effort is still plagued by high failure rates. Approximately 755,000 borrowers, or 54 percent of those who tried to get their payments lowered through the program, have been cut loose through October. That compared to a 53 percent disqualification rate ...
"Tribute to Her," uploaded to the Internet on Nov. 7, 2008, is a slideshow of Election Day photographs. YouTube member SailorBrownie described her post as a "dedication to all those Black Americans who went out on Tuesday and voted. We made history." While it's not altogether clear who is the "Her" in the title of the video, it might as well be the woman collapsed on the floor in tears. A girl nearby touches her cheek with a little confusion and a lot tenderness for the woman who is, most likely, her mother. The pictures are set to the Beatles song, "Blackbird" -- a good choice, considering ...
Follow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Follow the Trussell cartoons on Twitter at ChaosTheoryPD ...
WASHINGTON (Oct. 18) -- The pace of U.S. home foreclosures may not slow much after all. Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week. It said it has a legal right to foreclose despite accusations that documents used in the process were flawed. Ally Financial Inc's GMAC Mortgage unit is also resuming foreclosures once documents are fixed. Gina Proia, a spokeswoman for Ally, said that "as we review the affected files and take any remediation needed, the foreclosure process then resumes." Analysts expect other lenders to correct ...
(Oct. 8) -- Bank of America (BAC) plans to halt foreclosure sales across the nation, as it reviews whether it handled its foreclosure documentation and procedures properly, the banking giant said Friday. The move by BofA extends the mortgage foreclosure moratorium it had initiated in 23 states earlier this month, after it came to light that employees were signing off on foreclosure documents without verifying all the information contained in the documents. Other financial institutions, including Ally Financial's GMAC Mortgage and JPMorgan Chase (JPM), also issued a temporary halt earlier this ...
WASHINGTON (Oct. 7) -- President Barack Obama has rejected a bill that the White House fears could worsen the mounting problems caused by flawed or misleading documents used by banks in home foreclosures. White House press secretary Robert Gibbs said Thursday that Obama is sending a newly passed bill back to Congress to be fixed because the current version has "unintended consequences on consumer protections." The bill would loosen the process for providing a notary's seal to documents and allow them to be done electronically. Obama will not sign a bill that would allow foreclosure and other ...
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