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- Does anyone know when they will start to consider the second mortgage as part of the housing debt ratio for this program?
- To paraphrase the Onion, Americans now clamor for a new bubble to invest in. Once that occurs, we can be sure to see the same cast of characters, no doubt.
- January 5 2009; I and my wife have been taken in by this company to for $1500.00. We had several phone conversations with them explaining how they was dealing with our financial problem.All false ,...
- I agree with the basic premise of the article. There's been caution all across the board. Even consumers who are still employed don't want to spend, and that means they don't want to...
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Blown Mortgage
Mortgage and finance with a sarcastic bent
The Federal Home Loan Bank (FHLB) system was established in 1932 to fill the need for a stable funding source for residential mortgages created by the undermining of the American banking system during the Great Depression. Today, the 12 Federal Home Loan Banks and their members are the largest source of residential mortgage financing in [...]
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7 months ago
If you borrowed 500mm and at the time posted 550mm in mortgage backed securities (which now are worth 60cents on the dollar or 330mm), you either have to post 220mm of additional collateral or pay down nearly half of the 500mm debt.
7 months ago