Mortgage Foreclosure & Refinance Resource

In his latest attempt Federal Reserve Chairman Ben S. Bernanke’s to repair the mortgage meltdown that poses the biggest threat to the economy, the Fed pledged yesterday to lend, in return for mortgage debt, $200 billion of Treasuries to the securities firms that trade directly with the central bank. Officials told reporters later that the [...]

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Shares in Bear Stearns, Fannie Mae, Freddie Mac and other leading housing financiers plunged yesterday amid widening concerns about the health of the US mortgage market. “If liquidity is the elixir of life for any Wall Street firm, the current market certainly has the potential to be lethal,” said Kenneth Hackel, managing director of fixed-income [...]

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The housing collapse dragged down home values, especially clobbering subprime borrowers. Many were left with mortgages that exceeded the value of their homes. They were further socked by low introductory rates on their adjustable mortgages resetting to higher rates, making their monthly payments difficult or impossible to afford. Problems in the credit markets have made [...]

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