Word: mortgagees
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Dates: during 2000-2009
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If you're not already underwater on your mortgage, there's a decent chance you will be. According to a new report from Deutsche Bank, up to 25 million American homeowners could eventually owe more than their house is worth. That would account for 48% of all mortgage holders.
I was interning at an asset management firm in New York, and by the end of the next month—once Bear Stearns had wound-down the funds as officially worthless—all of my colleagues, from the most senior money managers to the lowliest analysts, had sat...
And so on ground level the legal options available in such cases are discouragingly few. Lawyers can search for inconsistencies in the documents filed with a court in a foreclosure action, creating enough extra time for a homeowner to find a job or to work out an agreement to modify...
I am a 27-year-old Spanish worker and I belong to "Generation Disappointment" [July 20]. I have a badly paid job which does not fit with either my studies or my expectations. The global crisis has hit Spain especially hard but we should have seen it coming. The Spanish...
As a teenager in California in the early 1970s, I remember my mother saying that we, her children, were part of the first "downwardly mobile" generation. When I asked her what she meant, she said that as she saw it, my generation would rent property and only some of us...