SEC Wants To Ask Big Banks About Mortgage Investments

The Securities and Exchange Commission isn’t done sorting through the mortgage mess, and has launched inquiries with Wells Fargo and Goldman Sachs over mortgage-backed securities they peddled to investors. [More]

Homeowners Making $2.6B Per Month Living In Foreclosed Homes

Homeowners Making $2.6B Per Month Living In Foreclosed Homes

Here’s one way to make the mortgage mess work for you: According to The Wall Street Journal, the slowdown in foreclosures due to questions about paperwork, note-holders and robo-signers has allowed some homeowners to live mortgage-free for several months; some are even renting out their homes. The Journal estimates that the “stealth stimulus” gives these homeowners a “subsidy” of about $2.6 billion a month. [More]

What Does The Bailout Mean For You?

What Does The Bailout Mean For You?

So, Congress finally passed the bailout bill. You know about the Treasury’s newfound $700 billion, and you’ve heard about the snipped golden parachutes, but what does the 451-page week-old shotgun savior of a bill actually mean for you?