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Word: mortgagees (lookup in dictionary) (lookup stats)
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Treasury Secretary Hank Paulson likes to talk about how soured mortgage-related securities are "clogging up" our financial system. It's not always easy to see what he means. Banks' refusing to lend to one another and companies' not being able to fund themselves through issues of commercial paper are...

Author: /time Magazine | Title: The Credit Crunch Comes to Main Street | 10/3/2008 | See Source »

A recent publicly posted testimony by a congregant at the Brownsville Assembly of God, near Pensacola, Fla., seems to confirm his intuition. Brownsville is not even a classic Prosperity congregation - it relies more on the anointing of its pastors than on Scriptural promises of God. But the believer's note...

Author: /time Magazine | Title: Maybe We Should Blame God for the Subprime Mess | 10/3/2008 | See Source »

The government is much more responsible for this mess than Wall Street is, by refusing to reform Fannie and Freddie in 2005 and by allowing subprime mortgage loans to be made to unqualified buyers. Forrest S. Walters, ERIE, PA.

Author: /time Magazine | Title: Inbox | 10/2/2008 | See Source »

The federal government can and should encourage buyers to head back into the real estate market by announcing that people who buy a home during the next year will be exempt from federal income tax if and when they later resell that home for a profit. Driven by the profit...

Author: /time Magazine | Title: Inbox | 10/2/2008 | See Source »

Mortgage rates are just about where they were at the start of the year--and historically speaking, a 6% loan for a house isn't that bad. The trick is getting approved for one. A borrower with a 680 credit score who a year ago could have gotten by with...

Author: /time Magazine | Title: Need a Loan? | 10/2/2008 | See Source »

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