Mortgage Foreclosure & Refinance Resource

Merrill Lynch, the nation’s biggest brokerage firm, is expected to announce a $15 billion write-down on soured mortgage-backed securities, far more than analysts expected. Investors took the setbacks as a sign that the financial industry is still reeling from last year’s collapse in the subprime mortgage market. The New York Times reported on [...]

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According to a NYTimes article, the Countrywide Financial Corporation fabricated documents related to the bankruptcy case of a Pennsylvania homeowner, raising new questions about the business practices of the giant mortgage lender at the center of the subprime mess.
The emergence of the fabricated documents comes as Countrywide confronts a rising tide of complaints from borrowers [...]

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In an interesting Slate article Daniel Gross about hedge funds and private equity trying to profit from the mistakes lenders and banks made. While home owners are trying to figure how to refinance arm mortgages some folks are figuring out how to profit from the downturn of the mortgage market. At the rate they [...]

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