Word: mortgagee
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3 | New York City Still Too Big to Fail Insurer AIG, reeling from the collapse of mortgage-backed securities it underwrote, received a fourth massive infusion of federal funds, bringing total taxpayer liability to $180 billion. The same day, it posted a $61.7 billion quarterly loss--the largest in U.S...
More help for small-business owners. Everything we can do to help them keep people employed is one less person getting an unemployment check, one less person needing help affording their health-care coverage, one more person that can afford to pay their mortgage.
It's no secret that in a down economy, people don't want to buy a house before they can sell their old one. The stress of paying one mortgage is bad enough--the thought of having to shoulder two monthly mega-payments? [Insert heart attack here.] But when the...
From there, a swap unfolds like a standard real estate transaction. Both sides have to be approved for loans. On Dec. 30, the Petroccos sold their townhome to Shan for $197,000 and bought her house for $289,000. The Petroccos now pay $500 more than they used to each...
On that score, of course, the jury is still out. Geithner and the Administration have resisted outright nationalization of the banks because of the cost, complexity and political hazards of doing so. Instead, they are trying to get the market to price the incredibly complicated mortgage-backed assets that are...