Word: mortgagees
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This is the thanks you get for creating the middle class, Henry. In the throes of the biggest auto swoon since 1931, the headmen of Detroit go hat in hand to Washington to try to keep their once mighty industry upright for a couple of months and are treated as...
Bringing up Wall Street’s role in the current financial crisis may seem dated. The two and a half months since Lehman Brothers collapsed have been rather eventful—a presidential election, A.I.G.’s bailout, Citigroup’s bailout, a 2,000 point...
"Foreclosures more than doubled in '08 compared to '07, year over year," Zalewski says. Creeping unemployment, tight credit and property devaluation, where the home is worth less than the amount owed on the mortgage, all tend to indicate the problem will only get worse. "Short of a government intervention, I...
The Schwarzenegger plan would give banks and mortgage servicing companies an out. If they don't want to wait the 90 days, they could agree to temporary interest-rate cuts to reduce the homeowner's monthly payments to an affordable amount. The idea is to make it possible for homeowners...
$500 BILLION Purchases of mortgage-backed securities covered by Fannie Mae, Freddie Mac and Ginnie Mae