I keep getting offers in the mail from an outfit called Allied Mortgage that says it can cut my mortgage payments in half by refinancing at 6.125%. I don’t see how that’s possible, given that my current rate (on a 7/1 ARM) is less than that. I saw a similar offer in an ad online [...]
Bond guru Bill Gross’s suggestion that we need a zillion-dollar federal bailout for homeowners who are having trouble paying off their mortgages is generating all sorts of talk in the econoblogosphere. No one seems to entirely buy Gross’s notion that we need a “Reconstruction Mortgage Corporation” that would presumably buy up troubled mortgage securities and [...]
