Arizona Republic sheds a little light on illegal drop bids at the daily swarm of foreclosure sales on the courthouse steps here:
Gretchen Morgenson strikes again. She covers the government report on the bailout of A.I.G. This is a must read for taxpayers looking to know why the $182 billion “rescue” is the most troubling episode of the financial disaster.
“Vulture” investment funds profit again by buying up pools of mortgages, placing the homeowners into government backed loans with reduced principal, then reselling the packages to governmet sponsored enterprises like Ginnie Mae. http://www.nytimes.com/2009/11/22/business/22loans.html?pagewanted=1&hpw