$700 Billion Bailout Bill Set to Fail in the House, Dow Craters 500 Points
- By:
- Bill Rice | September 29, 2008
House of Representatives votes down 205-228 the $700 billion market bailout bill. Bringing surprise and shock into the financial markets, which headed down as much as 500 points (Dow) during the losing vote.
After a very emotional and spirited debate the House killed what was thought to be a bi-partisan done deal. To the contrary, it seems as though there was bi-partisan rejection with 95 Democratic Nays and 133 Republican Nays.
Several of the opposition debaters cited the perceived unpopularity of the bill with voters and the fundamental departure from free market principles. As many of the representatives are anxious to return to their districts to resume campaigns, taxpayer opinions may have weighed heavier than expected in their voting.
The House remains in session to carry out other business as rumors swirl that a motion to reconsider the measure is being assembled.
Low Mortgage Rates and Sale of IndyMac Bank Ring in New Year
- By:
- Bill Rice - MortgageLoan.com | January 05, 2009
In a mortgage market clamoring for good news, homeowners and investors get a couple of silver linings to kick off 2009.
Obama to Cut Wasteful Spending
- By:
- Catherine Brock - MortgageLoan.com | January 02, 2009
Faced with a rising deficit and a sour economy, President-elect Obama vows to make tough budget choices down the road.
Could 2009 Give Us an Economic Recovery?
- By:
- Bill Rice - MortgageLoan.com | January 01, 2009
In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a year of recovery. Is there reason for hope?
HOPE NOW Boasts 1 Million Mortgage Loan Modifications in 2008, Promises More in 2009
- By:
- Bill Rice - MortgageLoan.com | December 31, 2008
Nearly 3 million homeowners will enjoy Christmas in their own homes this year because of the cooperation and programs of the HOPE NOW program. HOPE NOW closes out 2008 with nearly 1 million in loan modifications. This alliance created an unprecedented effort by private mortgage servicers, counselors, and investors to stem the rising tide of foreclosures.
Home Improvement taking a Hit from Financial Crisis
- By:
- Greg Mischio - MortgageLoan.com | December 30, 2008
The tables have turned in the home improvement world. During the red-hot housing market, finding a contractor who would perform simple home improvement jobs was nearly impossible. As the market has iced over, renovation specialists are finding that the shoe is definitely on the other foot.
End of Year Tax Planning, What to Do with that Bonus?
- By:
- Bill Rice - MortgageLoan.com | December 29, 2008
December brings holiday cheer and the end of the 2008 tax year. Not exactly "visions of sugar plums dancing," but certainly in the dreams of most adults as 2008 comes to a merciful close. How can you position yourself this month to maximize your 2008 tax savings?
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