Amherst’s Goodman: One in five distressed homeowners at risk of losing home

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After just one year since President Obama announced the Homeownership Affordability and Stability Plan, more than 4 million homeowners have refinanced their mortgages to more affordable levels, interest rates are at record lows, home prices and home sales are rising again and the economy is growing.

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Goodman was head of global fixed income research and manager of US securitized products research at UBS and predecessor firms, which were ranked number one by Institutional Investor for 11 straight years. Before that, she was a senior fixed income analyst, a mortgage portfolio manager, and a senior economist at the Federal Reserve Bank of New York.

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Laurie Goodman, senior managing director at Amherst Securities, believes one in five distressed homeowners in the U.S. are facing, or may face, foreclosure. The analyst adds that little may be done to stem the tide of foreclosures without greater government intervention or significant principal reduction. Currently, she said 11.5 million home loans are non-performing or highly distressed.

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 · Investors fume at US mortgage policy favoring banks. Al Yoon. their investments are at greater risk if homeowners are left to default, and go into foreclosure.. by the state to give one.

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The State of Florida recently won a $2 million settlement against a foreclosure law firm who filed foreclosures improperly. $1 million was given to a non-profit to help homeowners fight foreclosure. If Hawaii wants to fight for our homeowners and call the banks to the mat, we’ll need to do something beyond Act 48 the way it currently stands.