Radioactivity: Fighting Foreclosure; and, Fish Farming in the Gulf?01/27/09 Robert Lorei
Radioactivity: Live Call-In (Tuesday) | Listen to this entire show:
Welcome to Radioactivity. I’m Rob Lorei. Coming up today we’ll talk about the home foreclosure crisis and we’ll have two experts in the studio to talk about how to deal with foreclosure.
But first: The Gulf Of Mexico Fishery Advisory Council is poised today to approve the first offshore Aquaculture or “fish farming” plan in the Gulf of Mexico. It’s an idea that has some environmentalists, scientists and commercial fisherman up in arms. One of those is Marianne Cufone who is the director of the fish program at Food and Water Watch,-a national consumer advocacy group based in Washington, D.C.
I asked Cufone to describe aquaculture and why her group is opposed to it. (FMI http://www.fwwatch.org)
In other news, CNN recently reported that housing might be in worse shape than previously thought.
There is probably even more excess housing inventory languishing on the market than current statistics indicate, and there’s a wave of foreclosures that has yet to hit the market.
The problem: Many foreclosed homes and other distressed properties that are now owned by banks have yet to be listed for sale. The volume of this so-called "ghost inventory" could be substantial enough to depress already steeply falling prices when it does go on the market.
The Obama administration is promising an aggressive fight against the rising tide of home foreclosures, but officials have yet to decide what strategy - or combination of strategies - they will use. Among the possibilities being pushed by various interest groups are a six-month foreclosure moratorium, a doubling of the mortgage interest deduction, a tax credit for those who buy homes and a federally sponsored mortgage refinancing program.
Treasury Secretary nominee Timothy Geithner said last week that the administration was still wrestling with proposals and did not expect to finalize plans for several weeks.
We’re joined now by two local attorneys who are helping homeowners facing foreclosure. They are Jennifer Conroy an attorney with Gulf Coast Legal Services (727 821-0726) who does foreclosure mitigation counseling for people who’s homes may be at risk. And we’re also joined by George Werner an attorney who practices in Clearwater (888 899 0205). He’s written a new book called Fight Your Foreclosure in Florida, a self-help book for people who are facing foreclosure.