I am writing today to announce the closure of the Michigan Messenger. After four years of operation in Michigan, the board of the American Independent News Network, has decided to shift publication of its news into a single site, The American Independent at Americanindependent.com. This is part of a shift in strategy, towards new forms [...]
An abstinence-only presentation provided to numerous school districts in Calhoun and Eaton Counties in October of this year provided false and misleading information to students about HIV, experts allege.
Two county registers of deeds filed a class action lawsuit Monday on behalf of Michigan’s 83 counties alleging that the Mortgage Electronic Registration Services owes millions of dollars in property title transfer taxes.
Despite evidence of the impact of mercury on children and public health, Michigan Attorney General Bill Schuette last month joined with 24 other state attorneys general in filing a lawsuit to scuttle new EPA regulations that would reduce mercury emissions from power plants.
Republican rep voted against U.S. House bill to slow housing crisis As the U.S. House was voting to ease the housing market crisis on Wednesday, Republican Rep. Tim Walberg was on the floor casting a dissenting vote. Walberg claimed he voted against the bill because it rewarded risky investments. But there could be another reason. [...]
[COMMENTARY] Congratulations! You and your fellow American citizens just bought a failed investment bank at a fire-sale price overnight! Well, almost. The Federal Reserve agreed to guarantee losses by Bear Stearns if the healthiest U.S. investment bank, J.P. Morgan, would buy Bear Stearns and in turn guarantee its financial contracts. The amount that the Federal [...]
Countrywide Financial, one of the nation’s largest mortgage companies, announced Monday an expanded foreclosure prevention program for subprime borrowers with fixed rate loans. Countrywide and consumer advocate organization ACORN (Association of Community Organizations for Reform Now) worked out new programs to include subprime borrowers with fixed rate loans who are behind on payments. Countrywide will [...]
Video interview today of Sen. Stabenow: Source: video courtesy of blogger Matt Stoller of OpenLeft while in the Senate chambers today.
The year 2007 proved to be a mixed bag for Detroit. The mortgage crisis hit the city especially hard as thousands of residents faced the threat of foreclosure. Save a brief strike, the UAW negotiations went well as the Big Three continue to adjust to soaring legacy costs amidst increased competition from foreign automakers. Mayor [...]
[COMMENTARY] U.S. Sen. Debbie Stabenow’s Mortgage Forgiveness Debt Relief Act has now been signed into law. The Michigan Democrat’s legislation frees individuals from paying income tax when they have had a part of their mortgage loan forgiven or have been forced to foreclose. It is a measure to remove the insult of additional taxes after [...]
Michigan is studying whether to hold more sessions to help homeowners who fear foreclosure, after thousands of people came to Detroit’s Cobo Center last week for a forum to learn how to save their homes. The forum was hosted by state Attorney General Mike Cox and the banks and lenders present represented 98 percent of [...]
Today, President Bush announced a private sector plan to address the mortgage crisis by freezing the subprime mortgage rates of some borrowers. In a speech today outlining the centerpiece of his plan, President Bush said, "We've launched a new initiative at the Federal Housing Administration called FHA Secure. This program gives the FHA greater flexibility [...]
Detroit HOPE will be presenting its third foreclosure prevention workshop of the year Wednesday, September 26, at Wayne County Community College, from 6:00 to 8:00 p.m. Detroit HOPE was formed in 2005 to reduce foreclosures in the Detroit area–by many estimates, one of the nation’s worst markets for foreclosure risk and incidence of subprime lending. [...]
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