ARCHIVED BLOG POSTS
Aren't we suspicious of finance reform? The reform package currently working its way thru Congress is already 1,500 pages and some of it will affect real estate. We all have a stake in this and need to stand watch. As an example, already there is more than one reason to be alarmed when a senato...
to buy back the bad loans they made. In the last 3 months, mortgage lenders were forced to buy back over $3 Billion in bad debt. Fannie or Freddie own or guarantee about $5 Trillion in mortgage debt. National debt stands at $13 Trillion (U.S. National Debt Clock). So far the treasury Dept has pr...
According to the American Banker, about $10 Billion in these mortgages have been placed for sale during the first 3 months of 2010. And so far about 1/3 have been sold. Private investors and hedge funds are buying these toxic assets for pennies on the dollar. This helps banks clean up their bala...