Successful mediations have benefits for all parties, but getting everyone to the table is another matter.
(Wall Street Journal) — Facing a spike in the number of apartment buildings going bust in low-income neighborhoods due to heavy debt burdens, the Bloomberg administration is taking an activist approach, publicly and privately pushing lenders selling loans on the properties to take haircuts on the troubled mortgages. The aggressive role reflects a fear among […]
(AP) — The Obama administration’s central foreclosure-prevention effort won’t reach its original goals and the government should come up with clear, measurable objectives for the two-year-old program, according to a new report from a congressional watchdog. Because the Treasury Department has failed to properly analyze the program it runs, it is nearly impossible for overseers […]
(AllHipHop) — Black Eyed Peas’ frontman will.I.am has launched a new business aimed at helping people who are losing their homes or are facing foreclosure due to the sagging American economy. The superstar rapper/producer told The Sun that he has launched the i.am.home Mortgage Relief Program, which also helps to find jobs for those in unemployed. “I rescue families […]