Word: mortgagees
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How's this for odds: If you have a house in Las Vegas, there's a 58% chance you owe more on your mortgage than the place is worth. Nevada, of course, is ground zero for the real estate bust - but it's hardly alone in having truckloads of "underwater...
The trend is particularly disturbing because of its implications for foreclosures. As house prices continue to decline and more people find themselves paying mortgages above the value of their properties, the risk increases that they'll start walking away in droves. But "you have to be very careful in jumping...
A bigger problem is the tanking economy. Lose a job, and paying the mortgage becomes more of an issue. Since the house is worth less than you owe on it, you can pretty much forget about refinancing or selling, the old get-out-of-jail-free cards when you could...
How is U.S. President Barack Obama doing? I have to give [the Obama Administration] credit. In about six weeks, they have done three major things: the $800 billion stimulus package, a mortgage program that is much more than the previous Administration did and a bank plan that, however flawed, at...
If it was not clear two weeks ago or even last week, the destruction of the economic and business sectors of the world is no longer inchoate. The speed of the destruction has left the realm of what people fear and has entered the domain of what they know. As...