Failure to Recover: The State of Housing Markets, Mortgage Servicing Practices, and Foreclosures
Statement before the Committee on Oversight and Government Reform

 

Here are four steps that could be taken today to help promote a housing recovery.  Failure to Recover: The State of Housing Markets, Mortgage Servicing Practices, and Foreclosures

Download PDF

1.      End the needless delays in foreclosures that are slowing a recovery and driving up the cost of taxpayer bailouts of the GSEs.  

2.      Repeal the two biggest job killers – ObamaCare and Dodd-Frank – and act on dozens of other sound ideas have been suggested, but ignored.

3.      Promote the conversion to rental of properties resulting from short sales, REOs and foreclosures by expanding the GSEs’ individual investor loan limit.

4.      Help underwater borrowers who have done the right thing and made loan payments for the last 5-plus years get the benefit of a lower rate but have them keep the same monthly payment.  This way the loan would amortize much faster, helping the homeowner get himself out from underwater.  This would replace a reliance on refinances as an extremely weak for of stimulus.

 

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Edward J.
Pinto

What's new on AEI

Study: Piketty tax plan would boost equality by making rich less rich. But poor would be poorer, too
image Rep. McCaul’s cybersecurity information sharing center: If you build it, will they come?
image Halbig and its aftermath
image Culture of how Washington pays for medical care
AEI on Facebook
Events Calendar
  • 28
    MON
  • 29
    TUE
  • 30
    WED
  • 31
    THU
  • 01
    FRI
Tuesday, July 29, 2014 | 10:00 a.m. – 12:00 p.m.
Is Medicare's future secure? The 2014 Trustees Report

Please join AEI as the chief actuary for Medicare summarizes the report’s results, followed by a panel discussion of what those spending trends are likely to mean for seniors, taxpayers, the health industry, and federal policy.

Event Registration is Closed
Friday, August 01, 2014 | 10:30 a.m. – 12:00 p.m.
Watergate revisited: The reforms and the reality, 40 years later

Please join us as four of Washington’s most distinguished political observers will revisit the Watergate hearings and discuss reforms that followed.

No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.