Sometimes the federal government is unusually annoying. This is one of those times.
Efforts to create new tax breaks to encourage home purchases are gaining attention on Capitol Hill, as lawmakers gird for a major debate this spring on how best to shore up the nation’s troubled mortgage markets. Some Democrats, [...]
How dodgy debt is transformed into High Grade Enhanced Securities, sold for million by creative bankers, then recognized as just some dodgy debt.
Two months ago, I wrote about the sub-prime mortgage “crisis”. Specifically, I wrote about Mrs. Audrey Sweet and her troubles repaying a loan from Countrywide. Two days ago, Mrs. Sweet stopped by our humble blog to plead her case.
Countrywide forged my loan documents, they lied about the tax amount and my income to [...]
Last night I said that homebuyers were more likely to be greedy than lenders. I haven’t changed my mind yet. Instead, I read a story that convinced me even more.
The New York Times describes a couple who bought “a modest home at the southern end of Silicon Valley”. Now they’re suing their broker and real [...]
The New York Times published a long story last week on the sub-prime mortgage “crisis”. Can the Mortgage Crisis Swallow a Town? - New York Times. As I read through it, there were a few points that jumped out at me.
One of those loans belonged to Audrey Sweet, a Maple Heights resident and [...]