• Archives

  • Blog Stats

    • 666,182 hits
  • Categories

Redefining The Middle Class: It Isn’t What You Earn & Owe, It’s What You Own That Matters

Livinglies's Weblog

Redefining The Middle Class: It Isn’t What You Earn & Owe, It’s What You Own That Matters

Authored by Charles Hugh-Smith via OfTwoMinds blog,

No wonder the “middle class” has lost political power – it has lost the economic power of the ownership of productive assets.

Longtime correspondent Mark G. observed that the key phrase in yesterday’s excellent commentary by correspondent Ron G. is property-owning middle class. Mark wrote: “It appears to me that the income bracket method used today isn’t very informative.”

Here is Ron’s commentary again:

The Middle Class Is Shrinking — But Not Everywhere

“The American economy and people are not being served by a government that was designed to be a Democratic Republic, whose architecture and balance of power depended on a property-owning middle class to be the countervailing force against Oligarchy; given the irreversible nature of the market and technology that contributed to the…

View original post 608 more words

How the FHA May Impact the Supreme Court Foreclosure Ruling

Justice League

In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act, stating that the banks’ discriminatory and predatory lending practices led to a major shortfall in city tax revenues.

The final ruling is not up to the high court, however, as the Supreme court sent the case back to the Eleventh District, in order to determine whether the banks’ lending practices were “proximate cause” for the damages. Law360 reported that all eight justices rejected the probable cause argument.

“The ruling is clearly a concern for lenders who believed cities did not have sufficient standing in order to assert claims that are more appropriate to be brought by the ultimate aggrieved parties, which…

View original post 64 more words

FOIA requests for information on bidding and title issues.

Concealed information may still be available. An increasing number of people have showed me that they did receive documents that were responsive to their requests from a government agency — VA, Fannie Mae, Freddie Mac, Sallie Mae etc. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. THIS ARTICLE IS NOT A […]

via Don’t Forget FOIA Requests — Info on Bidding and Title — Livinglies’s Weblog

Cities May Sue Banks Over Foreclosure, Industry Reacts

Livinglies's Weblog

Author: Seth Welborn

http://www.themreport.com/daily-dose/05-01-2017/cities-may-sue-banks-revenue-lost-foreclosure

In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act, stating that the banks’ discriminatory and predatory lending practices led to a major shortfall in city tax revenues.

The final ruling is not up to the high court, however, as the Supreme court sent the case back to the Eleventh District, in order to determine whether the banks’ lending practices were “proximate cause” for the damages. Law360 reported that all eight justices rejected the probable cause argument.

“The ruling is clearly a concern for lenders who believed cities did not have sufficient standing in order to assert claims that are more appropriate to be brought by the…

View original post 310 more words

%d bloggers like this: