Word: mortgagees
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
Even so, the troubled U.S. homeowner is not among the priorities of those in Washington who are dishing out rescue funds. The Treasury Department plans to spend $250 billion of the $700 billion rescue package approved by Congress earlier this month on capitalizing banks. To the back burner went Treasury...
Saving homeowners is far from easy. The original Bush plan, FHASecure, which involved the government refinancing people into lower-interest loans, has thus far helped only about 387,632 borrowers. A subsequent plan to identify borrowers in trouble and modify their loans has been more successful. As of October, the...
One reason it has proved so hard to help homeowners is that today's mortgages are no longer simply held by a local bank; they have been sold to Wall Street, where they were cut up and repackaged into thousands of bonds sold to investors. The current global credit crisis...
And the fractured ownership of those mortgages vastly complicates efforts to help homeowners. People with knowledge of the mortgage business believe that proposals to buy up individual home loans and refinance them, as proposed by Senator John McCain, seem impractical at best. "You can't get whole loans out of...
Another major problem with proposals to buy up bad mortgages is to fix a value for them in a market where the price of houses is falling - buying them at face value could cost more than $1 trillion. And some observers believe that bailouts of individual homeowners will create an...