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[ F1 News: ] housing solutions

on May 17, 2012 in HARP Refinance | 41 comments

by reallyboring On Either Side of the Atlantic a Common String of Thought is Running Through the Leaders – It is to Push the Job Problem Into the Backyard Article by Anyele One of the worst scourges afflicting the entire Western world is unemployment. In America about 14 million are without jobs, page millions of others are under-employed – either working part time or stuck with assignments that do not do justice to their skills. In some of the European countries the situation is worse. In Spain the unemployment is 21%. There are no signs of the situation improving. The tragedy is continuing. All rational policy leaders will give the top priority to reversing this trend. But on either side of the Atlantic a common string of thought is running through the leaders is to push the job problem into the backyard. This is done very cleverly by sugar coating the bitter pill. They need to be told that making up excuses not to put back the unemployed into work is neither prudent nor responsible. In fact it is a horrendous running away from responsibility. What are the excuses being put forward? The recent report on the economy by OECD (Organization for Economic Cooperation and Development) stated, “The room for macroeconomic policies to address these complex challenges is largely exhausted”. The OECD liaison between the governments but it does not by itself initiate policies directly. It reflects the typical wisdom of the policy-elite of Europe. It advised the nations to “go structural” or to concentrate on long-term reforms that would make no dent on the present employment scenario. No suggestions were made of how the trend of unemployment could be reversed; it only highlighted the risks of moving away from conventional policies. None is talking seriously about generating jobs. The Republican Party keeps harping on tax cuts and deregulation. The Obama government gave up talking about it nearly eighteen months ago. Is anybody in power talking of jobs? None! But something should be done and can be done. It is well to remember that the people are without jobs because they are lazy or because they lack skills. There is nothing wrong with the America workers. Only four years previously the unemployment figure was 5%. At the heart of the trouble is the economy centred on the mortgage debt problems. The debt that was caused by the bursting of the housing bubble is persistently pulling back the economy and putting brakes on any actual recovery in the employment segment. Once this realization dawns that private debt is at the root of the problem then the solutions can be thought of along these lines. About the Author Anyele, has been working on usreoproperties with real estate owned properties, studying the foreclosures market and helping buyers in their purchases. For more informaiton please visit here… by Kevin Saff Obama’s New Mortgage Refinance Plan Article by Julie Jalone President Obama announced a new plan to help home owners who want to take advantage of ultra-low mortgage rates and lower their mortgage payments by refinancing. The administration hopes changes to the Home Affordable Refinance Program will help about 1 million home owners qualify to refinance. Here are more details about the newly announced changes to the program: HARP: The Home Affordable Refinance Program started in 2009. It allows home owners to refinance at lower rates without having to meet the typical requirement of having at least 20 percent of equity in their home. Under current guidelines, buy more about many underwater borrowers have been ineligible for the program because their home values had...

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