Center for American Progress Senior Fellow Dr Christian Weller appeared on CNBC to discuss subprime mortgages and how consumers can protect themselves.

For more on subprime mortgages and foreclosure rates please see:

http://www.americanprogress.org/issues/2007/03/foreclosures_numbers.html

What if 40 hours a week were enough?
www.AMERICANPROGRESS.org

Duration : 0:4:20

Technorati Tags: credit, debt, economy, Estate, financial, foreclosure, house, market, mortgage, real, realtor, Rent, sale, subprime

http://www.debtplan.org

Bad Credit Debt Consolidation, Consumer Credit Counseling, Debt settlement, Debt Negotiation, and Bankruptcy are subjects which will be discussed in A LIFE OUT OF DEBT. Please do not become discouraged or negative in anyway if you or your family are currently experiencing any of these phases. You are not alone, millions of Americans are in the same boat. Folks, the major culprit or vehicle which takes us to this crossroads is, unsecured debt. The good news is through credit counseling, and debt consolidation you can make it through these times, and move on to a less stressful life.

Duration : 0:1:36

Technorati Tags: bad, consolidation, credit, debt, debt consolidation

Please visit us:

*The Most Important News: http://themostimportantnews.com/

*Survival: http://disasterandemergencysurvival.com/

*Why God?: http://whygodreallyexists.com/

*Addiction Recovery: http://addictionrecoveryhope.com/

*Organic Health: http://organichealthadviser.com/

*The Truth: http://thetruthwins.com/

*The Last Days: http://signsofthelastdays.com/

*Bird Flu Pandemic: http://thebirdflupandemic.com/

*The Future: http://futurestorm.blogspot.com/

*The Final Hour: http://thefinalhour.blogspot.com/

Duration : 0:6:37

Technorati Tags: Cities, collapse, crisis, debt, default, financial, foreclosures, Homeless, Homes, house, Losing, meltdown, mortgage, subprime, Tent

http://www.mint.com

The allure of readily available credit is hard to resist for many as they set off on their financial path. Join our hapless hero, in this all too familiar but somehow forgotten tale of temptation, responsibility, and reward. Like his father before him, he must ascend credit mountain in order to achieve his destiny. Credit gives you the power to make purchases, purchases that will build a credit history and will allow you to make future purchases. But remember, with great spending power comes great fiscal responsibility.

Duration : 0:3:34

Technorati Tags: card, credit, debt, finance, management, mint.com, money, movie, Personal, quest, trailers

Consider defaulting on your college loans.

FREE ALBUM DOWNLOAD at http://www.mattkresling.com/main/Matt_Kresling_Album.zip

Is this fruition of my college years,
arriving in an envelope, business-size,
Sallie Mae Corporation letterhead?
This is to inform you that you
havent made a payment on your loan
since the winter of, italicized, 1997.

If at this time you cannot make
the monthly payment we set,
youll be required to remit to us
the balance in full.
You know, I dont think Ill pay—
what kind of fool
would feed the beast that swallows its young?
Would feed the beast that swallows its young?

Clearly, eightteen isnt old enough to drink
but old enough to sign a promissary
interesting.
Military? Sure, join up.

And who can put a pricetag
on a top-notch education?
How about $50,000? $80,000? Well, thats
just for the textbooks.

But what exactly is the consequence
should I refuse to pay?
Is there still a Dickensian debtors prison?
Oh, there isnt? Well

If at this time you cannot make
the monthly payment we set,
well be required to revoke what every citizen fears:
your card for digging your hole deeper in debt
to the beast that swallows its young,
to feed the beast that swallows its young.

Everyone must go to university.
Without a good degree,
how will you pay the lenders
who staked you while attending university?
And everyone must grow the university.

This is to inform you that Ill never make a payment.
This is to inform you that Ill never make a payment
to the beast that swallows its young.

Duration : 0:4:39

Technorati Tags: college, debt, education, folk, kresling, loan, MAE, sallie, school, student, ukulele, university

Another victim of the Credit Crunch.. Antan Debt performs with his band “The Overdrafts” http://www.myspace.com/antandebt

Duration : 0:3:23

Technorati Tags: and, ant, banks, credit, Crunch, debt, dec, decline, economy, mash, money, monster, overdraft, Poor, silly, skint, song

Mortgage Foreclosure Rescue Scams – Documentary Video

We Stop Foreclosure Rescue Scams (2008) by Kyra Olds

This is a documentary about mortgage foreclosure rescue scams that are occurring across the country in light of the growing foreclosures. The movie describes common scam tactics and how distressed homeowners fall for these scams. The movie concludes with what lawyers can do to challenge these scams in court and the Washington State Legislature’s response to try to to stop these scams by passing House Bill 2791 and Senate Bill 6381. It is intended to educate advocates so they can better assist homeowners facing foreclosure.

Director: Kyra Olds
Producer: Northwest Justice Project
Sponsor: Eric Dunn
Keywords: foreclosure rescue scam; washington; mortgage; foreclosure; 2791; northwest justice project; njp
Contact Information: Northwest Justice Project 401 2nd Ave S Seattle, WA 98104 www.nwjustice.org

Creative Commons license: Attribution-Noncommercial-Share Alike 3.0 United States

Credits:
We Stop Foreclosure Rescue Scams
by Northwest Justice Project;

Featuring:
Eva, Client of NJP; Eric Dunn, Attorney at NJP; Melissa Huelsman, Private; Attorney in Seattle; Judy Poston, Housing Counselor at Solid Ground; Julia Kellison, Attorney at NJPl; Fred Corbit, Attorney at NJP

Produced by: Kyra Olds, Intern at NJP

Foreclosures are increasing nationwide, and so are scams that promise to rescue homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home. Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications. They often refer to themselves with titles that sound official, such as foreclosure consultant or mortgage consultant, and market themselves as a foreclosure service or foreclosure rescue agency. Your mortgage lender or any legitimate financial counselor can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.

Duration : 1:34:41

Technorati Tags: artist, artists, banking, bankruptcy, banks, con, confidence, counselor, credit, crime, criminal, crisis, crooked, Crunch, debt, equity, Estate, fake, fakes, family, finances, financial, Financing, foreclosure, foreclosures, fraud, home, Homeowner, homeowners, Homes, houses, Housing, Lease-Back, Lender, lenders, Living, loan, loans, mortgage, mortgages, Option, options, owners, ownership, Payment, payments, problems, real, refinancing, Repurchase, rescue, Scam, scams, schemes, servicers, states, street, United, US, USA, wall, Washington

Maxed Out takes viewers on a journey deep inside the American style of debt, where things seem fine as long as the minimum monthly payment arrives on time. With coverage that spans from small American towns all the way to the White House, the film shows how the modern financial industry really works, explains the true definition of “preferred customer” and tells us why the poor are getting poorer while the rich keep getting richer. Hilarious, shocking and incisive, Maxed Out paints a picture of a national nightmare which is all too real for most of us. Great for college students.

Duration : 0:2:15

Technorati Tags: Bush, card, CLINTON, credit, debt, Democrat, doc, documentary, economy, film, liberal, movie, New, Obama, trailer

http://debtrelief911.com – Get Rid of Credit Card Debt Now! Learn How to Eliminate Your Credit Card Debts in 90 Days Without Debt Consolidation or Bankruptcy!

Duration : 0:4:13

Technorati Tags: bad, bankruptcy, card, cards, consolidation, credit, debt, debts, elimination, high, interest, loans, Relief, settlement

First Time Home Buyer Tax Credit Assistance and Federal Government Home Loan Program with Low Down Payment on FHA Mortgages. Buy Bank Foreclosed Homes at a Discount. Go To http://RealEstateMarketingThisWeek.com

Part 2 (Excerpt)

The median income family can afford twice the median priced home; prices drop over 50%

And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan?

Yes, I left the mortgage industry in October of 2007. Tell us a little bit more about yourself.

As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 S&Ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy.

There are a couple of points I want to make and it was something that Michael had said earlier. The first one was that 4% interest rate. Originally Obama said a couple of weeks ago, when he rolled out the mortgage plan, that they were going to take the $200 billion and use it to buy mortgage backed securities, well the article I was reading today said it appears that plan may have changed. Instead of buying the mortgage backs they were actually buying the stock of Fannie and Freddie to help support the company and keep these companies going under. I dont quite understand why being how they own them now.

Well youve got to hand it to the government they have really done a heck of a job helping Fannie Mae out, for instance today the stock is up to $0.41. Wow, doing so well, I remember when it was $150 or so, where it was at the top of the market.

Today, right now is definitely the best time even if rates dont get down to the 4% point. The beauty of it and were going to talk more about this in a later segment, is that we have seen a 51% decline in home values from the peak of the market. So you dont have to have the absolute greatest interest rate in order to be able to buy a house today. The median home price right now is $130,000 in Maricopa County, it was $264,000 just two years ago.

So the median home price is $130,000? We are going to talk a little bit about what a person has to make to actually qualify for that. Well it is definitely well within the means of a median income family. Right now a median income family makes about $64,000 in the state of Arizona according to the US Census Bureau and HUD. I ran some numbers today, I think at 6% interest and at that rate they can buy a $280,000 house. So you can buy twice the median home price if you are making just what the median income family would be in the state of Arizona. So the median household income buys double the median priced house in Maricopa County. That is correct, at 6% interest.

And the reality of it is interest rates are not even that high right now. So for people to be waiting for that perfect interest rate of 4% it doesnt really matter if it gets here or not because right now is such an incredibly fabulous time to be buying a house. There are so many foreclosures out there on the market right now, there are so many short sales out there on the market right now, and the point you made earlier is very important, that people have to get in and get prequalified, know exactly what they can buy. Now in many cases you are going to need a down payment, so get with your mortgage broker, get with Velocity Financial and start working on that program of getting those funds together for the down payment as well.

Dan Havey we talked in the past about whats available for financing these days, interesting to give little pat on the back for Velocity Financial is one of less than 15% of all of the lenders in the state of Arizona that are qualified to do FHA financed homes. Now FHA financing, people used to think it was only for first time home buyers, thats no longer the case. The FHA loan which only requires 3.5% down payment it doesnt matter if you have owned a home before and in many cases you can own another home now so long as your new purchase is going to be your primary residence you can utilize FHA financing and put only 3.5% down.

Duration : 0:6:42

Technorati Tags: 1st, 8000, advice, assistance, bank, bill, breaks, Buy, buyer, credit, debt, deduction, down, downpayment, Estate, Federal, FHA, finance, financial, first, Fixed, foreclosure, Government, Grant, guide, guidelines, Help, home, homebuyer, house, Housing, incentives, income, information, interest, lease, lend, lending, limits, loan, Low, modification, mortgage, New, no, Owner, package, Payment, plan, price, Program, property, Purchase, qualifications, rate, real, rebate, refinance, Rent, requirements, sale, short, stimulus, tax, time, tips