Mortgage Foreclosure & Refinance Resource

To understand what’s going on, go back to the weekend of Mar. 15-16, when the Fed encouraged JPMorgan to buy Bear Stearns at a fire-sale price to keep Bear from going under and dragging other banks down with it. Even at $2 a share, JPMorgan wasn’t willing to do the deal because lots of Bear’s [...]

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Arizona Sen. John McCain said Tuesday that government help related to the slow housing market and resulting credit crunch should go to homeowners, not speculators. Any assistance to the financial sector should be based on preventing a major economic collapse, he said. McCain addressed the housing market and financial problems while in California. California, Arizona, [...]

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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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