Word: mortgagees
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Among the top-tier performers are also, perhaps surprisingly, a number of banks. While it's true that plenty of finance firms have been absolutely clobbered - worst of all, nationalized housing giants Fannie Mae (down 98%, to $0.70) and Freddie Mac (down 98%, to $0.74); insurers AIG (down 97%, to...
This ignominious group has had some high-profile recent entrants, including Democratic fundraiser Norman Hsu, who was charged in October with operating a $60 million Ponzi fraud, and former boy-band impresario Lou Pearlman, who in addition to foisting N'Sync on an unsuspecting public also stole $300 million in...
In the 1960s, Warren M. Robbins, 85, raised $13,000 and took out a mortgage to buy the former home of abolitionist Frederick Douglass. House in hand, he established the Museum of African Art with work purchased during his travels abroad.
In a three-level house, a pregnant woman with two young children shares her home with mice scurrying through the rooms. Some of the other tenants in her neighborhood have lost running water and heat when their landlords failed to make mortgage payments and the banks seized ownership of the...
He says he finds the tenants “morally blameless” and even somewhat empathizes with “little landlords” who were unable to make mortgage payments. The banks, however, are a different story.