Mortgage

Freddie Mac hit the Brakes, on the Easy Credit Party

Posted Sat, 10/11/2008 - 13:54 by jamess

great collection of data, again, by jamess. Originally posted 2008-10-10 13:58:16 -bumped, cho

These guys were perfectly happy to get you into that New Home, "No Matter what it takes," during the hay-days of the Ownership Society.

Hedging their bets -- about exactly WHO owns your Mortgage?

Posted Sun, 09/28/2008 - 07:15 by jamess
Promoted as jamess provides us with information that all of us need to know more about to help understand our current crisis - standingup

In the Olden Days (B.D. -- Before Deregulation) 1) you want to buy a House 2) you put 10-20% down and got a mortgage loan, after intensive scrutiny of your income and creditworthiness 3) you spend 30-years making monthly Mortgage Payments 4) you take Ownership of your Home, free and clear. 5) IF you fail to make Mortgage Payments, for 3 months or more, a Snidely Whiplash character would show up from the Bank, and promptly put you out on the street. Fortunately (or unfortunately?) in these 21st century days of Investment Banks and Hedge Funds, riding herd in a "wild west" electronic economy with little to NO Oversight, you may still default on your Mortgage -- yet too often it seems, that No One really knows, exactly WHO owns your House, when you do ...