Big Margins, Economic Slaves, Tax Hike Chart, Geithner and Debt Limit, Strategic Default, BofA Principal Reductions, Post DeMarco, Florida FCs, Obama Housing Proposals, Mortgage Interest Deduction, HP Rise, Fed Frustrated, Trillion Dollar Buyer, Income Disparities, Home Equity Rise, FNMA DQs Drop

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Lenders Are Making Huge Profits On Mortgages – Lucas Kawa – … Lenders could lower rates – but they’d be overwhelmed by the demand for loans, especially for refinancing applications. Instead, they’ll retain increased profitability until volumes decline or rates decrease. … – Business Insider 
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Hey Obama – Great Job! BTW: How You (Americans) Became an Economic Slave. – Martin Armstrong – …  It used to be friends would always say foreign women wanted to marry Americans to get a citizenship. Well, the trend has reversed. Any woman with money would NEVER marry an American because they would suddenly be taxed on worldwide income. Just apply for a green card and you have to submit to worldwide taxation as an economic slave just to work in the USA. … – Armstrong Economics 
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(must see chart) Putting America’s Tax Hike In Perspective – Submitted by Tyler Durden – Zero Hedge – One of those occasions when one picture really does speak a thousands words.
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Geithner Hits Debt Limit Early To Squeeze Republicans – Scott Anderson – Seeking Alpha

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(has Q&A – benefits of strategic default) Hidden Housing Subsidy Update – by Ramsey Su – Seeking Alpha 
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BofA to Offer Principal Reductions of More than $100K – BY: KRISTA FRANKS BROCK – DS News

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(after dumping DeMarco) Mortgage refinancing landscape will shift focus to HARP: Compass Point – By Christina Mlynski – Housingwire 
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Foreclosures come out in ‘drips and drabs’ in Florida as prices rise –  Posted by Kerri Ann Panchuk – Housingwire 
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U.S. Housing Doesn’t Need Another Government Bailout – By Agnes T. Crane – … The Obama administration is considering two proposals …  One proposal would allow such borrowers to refinance into a cheaper loan guaranteed by Fannie Mae or Freddie Mac. Another would lower their monthly payments by restructuring their loans even if they aren’t in danger of imminent default. … more – Slate.com 

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(both political sides wrong) Missing The Point On The Mortgage Interest Deduction – by David Coster – MortgageOrb 
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New Survey Predicts 2013 Home Prices To Rise 3.1% – by MortgageOrb.com – A new survey of 105 economists and real estate industry experts … was conducted by Pulsenomics LLC … and published by Zillow Inc.

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Federal Reserve frustrated in effort to lower mortgage rates – By Caroline Salas Gage, Heather Perlberg and Jody Shenn – Bloomberg News – Denver Post  
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CHART OF THE DAY: The Housing Bust Gave Birth To A Trillion Dollar Buyer Of US Treasuries – Sam Ro – UBS’s Maury Harris, … shared an important chart with Business Insider when we had lunch with him last week. It compares the year-over-year change in U.S. Federal government debt and home mortgage debt for each year since the heyday of the housing bubble. – Business Insider
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(interesting look at income disparities) The Fiscal Cliff’s Structural Endgame – Charles Hugh Smith – Of Two Minds 
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Rising Home Values Bring Equity to Highest Level Since 2008 – BY: TORY BARRINGER – The M Report 
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Fannie Mae single-family serious delinquency rates continue to decline – by cmlynski – The conventional single-family serious delinquency rate fell five basis points to 3.3% in November, down from 3.35% in October, according to Fannie Mae’s monthly summary. … In November, the GSE’s gross mortgage portfolio declined at a compound annualized rate of 17.5%. … – Housingwire

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