Professor Kurt Eggert was quoted in a story in the Inland Valley Daily Bulletin about the slow down in homebuilding, “State homebuilders association warns of ‘homebuilding depression.’” In the story, he stated, “The other question is: How many people receiving that (proposed homebuyer tax) credit would’ve been purchasing homes anyway?” Professor Eggert says the problem
Professor Kurt Eggert was quoted in an article in the Orange County Register entitled, “Burned borrowers seek payback from CEOs who got millions.” As the title of the article suggests, the piece is about the growing number of private lawsuits and government investigations seeking payback from executives who received enormous paychecks for running companies that
Professor Kurt Eggert was quoted in a story in Business Week about potential federal legislation that might allow borrowers to modify their home loans in bankruptcy, entitled “Does Citigroup Stand Alone? Industry Balks at Bankruptcy Bill.” In the piece, Professor Eggert stated, “Having bankruptcy cramdowns is a way of instilling discipline to subprime lenders.” Investors
Professor Kurt Eggert was quoted in a story in the Orange County Register on “How Citi bailed out an O.C. subprime lender,” regarding an infamous Orange County subprime lender who was given a loan modification on a home loan even though many of his borrowers had trouble receiving loan modifications. In discussing why Citibank received
Professor Kurt Eggert appeared on the Hugh Hewitt radio show where he discussed the housing market, and the probable push to new regulations desired by the Obama administration. Listen to Podcast…
Professor Kurt Eggert was quoted in an article in the Orange County Register entitled, “Foreclosures blanket O.C.: Banks seized more homes in nearly every ZIP in county in 3rd quarter.” Professor Eggert agreed with others quoted saying, “proposals he has reviewed to modify loans lack sufficient teeth. Perhaps the only thing that might work would
Professor Kurt Eggert was quoted in an article in Contra Costa Times, entitled, “$300B FHA rescue funds available to homeowners – with a hitch.” Professor Eggert, a former member of the Federal Reserve Board’s Consumer Advisory Council, said that the FHA program’s challenge is to “build in enough motivation for the financial industry to play
Professor Kurt Eggert was quoted in an article in Orange County Register, entitled “Bailout Dead. O.C. Reacts to What’s Next.” In the article, Orange County professors and professionals shared their opinion as to what will happen as the result of the House rejection of the federal bailout proposal. “The bailout would have done too little,
Professor Kurt Eggert was quoted by the Washington Post in an article entitled, “The Crisis and Your Pocketbook.” In response to the question of whether lenders will hold on to foreclosures they own as they wait for the federal government’s bailout, Professor Eggert stated, “The government’s plan aside, it’s generally not in the lender’s interest
Professor Kurt Eggert was quoted in an article on CNN/Money.com, entitled “What About My Mortgage?” The article discusses the difficulties the government faces in helping struggling homeowners obtain affordable loans during the current financial crisis. Following the success of the government-led loan modifications in response to the failure of IndyMac, Professor Eggert stated, “IndyMac is really