A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.
Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said Friday he supports replacing the two companies entirely.
“I believe [...]
Posts Tagged ‘bankruptcy’
Rep. Frank: Abolish Fannie Mae, Freddie Mac
January 26th, 2010 by HardMoney Writer
Tags: bankruptcy, mortgage, obama, tax credit
more...Alaska agrees to $10M abuse settlement
November 25th, 2009 by HardMoney Writer
The Catholic Diocese of Fairbanks and representatives of almost 300 alleged victims of clergy abuse have agreed on a settlement of almost $10 million.
The agreement was discussed Tuesday at a status hearing in federal bankruptcy court and will need to be finalized. The deal could be completed by mid-January.
Plaintiffs’ attorney Ken Roosa said some of [...]
Tags: bankruptcy, federal bankrupty, hard money, insurance companies
GM sure on funding Opel revamp
November 6th, 2009 by HardMoney Writer
General Motors on Thursday said it could finance the restructuring of Opel without state aid, as its chief executive said the European subsidiary had enough cash to pay back a German government bridge loan.
Fritz Henderson, GM chief executive, said on Thursday that Opel could afford to pay back the remaining €900m ($1.3bn) of the €1.5bn [...]
Tags: bankruptcy, bridge loan, general motors
Kelly Gearhart hard-money lending friend Jay Hurst Miller files seeing bankruptcy
September 17th, 2009 by HardMoney Writer
Once a hard-money lender harbour additional than $100 million supremacy loans and 1,000 clients, the North County’s Jay Hurst Miller has through filed owing to Chapter 7 bankruptcy protection.
Miller is accused mastery a build in of smooth lawsuits of operating a Ponzi scheme, along hole up his developer-partner Kelly Gearhart, since his company, Hurst fiscal. [...]
Tags: bankruptcy, commercial, financial, hard money lender, hard money news, investor
Lehman Is On the boundary; AIG Scrambles to enjoy Itself
September 16th, 2009 by HardMoney Writer
Lehman at the brim; Merrill to copy Bought
Sunday brings two commoving events, both of which pop in intended to totter fence road to the awfully limelight when U.S. markets bring about on Monday: the near bankruptcy of Lehman Brothers also the sale of Merrill lynch. Unable to gem a buyer, Lehman appears headed over bankruptcy [...]
Tags: bank of america, bankruptcy, collateral, hard money lender, hard money news, lehman, obama
Hard Money Lending Partner
September 10th, 2009 by HardMoney Writer
Once a hard money lender with more than $100 million in loans and 1,000 clients, the North County’s Jay Hurst Miller has now filed for Chapter 7 bankruptcy protection.
Miller is accused in a number of civil lawsuits of operating a Ponzi scheme, along with his developer-partner Kelly Gearhart, through his company, Hurst Financial. But Miller’s [...]
Tags: bankruptcy, hard money lender, hard money news, Lending Partner
Hard Money Loans Help
September 10th, 2009 by HardMoney Writer
When being bogged down by a mountain of unpaid debt, it can oftentimes feel as if bankruptcy is the final and only available option to regain your financial security. But many people are reckless in filing bankruptcy, taking it as an easy way out. Bankruptcy is a serious action, the results of which can stay [...]
Tags: bankruptcy, borrowers, credit, hard money, Hard Money Loans