Word: mortgagee
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For Shan, the trade could not have come at a better time. Shortly after the closing, she was laid off from her job as a project manager at a large communications firm. "This was a lifesaver for me," she says of the swap. "Now that I have a layoff package...
"I'm very, very sorry to say that my business is skyrocketing," the personal-finance guru Suze Orman said one late January afternoon. The Dow was down almost 200 points, and Orman was lounging on the terrace of her San Francisco town house, wearing a leopard-print tunic and cowboy...
The mortgage crisis, the deficit, the mass layoffs and the home foreclosures sweeping the country are all signs that the economy is a wreck, but for Orman, 57, things could hardly be better. (See the best business deals of 2008.)
"Suze, I'm in dire straits ..." began another call, from Shirley in New Jersey. Others followed from people trying to renegotiate their mortgages or struggling to take care of aging parents. Eventually, Orman started getting antsy. "We should call this show Get Aggravated with Suze Orman," she said after a...
"The theme has been for a long time, Get out of credit-card debt, know your FICO score, pay our homes off, don't use anything other than a fixed-rate mortgage, real estate has hit its top." She paused and thought for a moment. "Although ... I really thought a...