Word: mortgagees
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Dates: during 2000-2009
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By mid-summer, the Administration's plan to help worthy mortgage holders reduce their monthly payments should show early signs of slowing the year-long acceleration of foreclosure rates. If unemployment and desperation among people with homes worth less than their mortgages leads a greater and greater number of mortgage...
Being rich during a recession can almost be as bad as being poor. The only difference is that the rich have more to lose. RealtyTrak, a research firm that follows mortgage trends, recently reported that the foreclosure rate on homes valued at more than $729,750, also known as the...
No one working on forecasts about the activity of home sales and home prices has any illusions about the severe problems at the low and middle segments of the market. Real wages are not rising and unemployment may reach 10% this year. Most of the people out of work will...
This conspiracy theory always had one weakness. There is no reason taxpayers would want to own troubled banks. The stocks in the companies would have to keep moving up and stay up for there to be a reasonable return. The Administration, on the other hand, might like to have the...
Yes. This crisis was substantially caused by a failure to manage real estate risk. Notably, we got individual homeowners into a leveraged position typically with their entire life savings in real estate in one city, in one house. That's very risky. I have one proposal for continuous workout mortgages...