The “turn and burn” a.k.a. “buy and bail” strategy – is a method sometimes used by people whose homes are “underwater”. It is increasingly used by the wealthy with very large mortgages whose homes are worth significantly less than what they owe. This little trick reared its ugly head after the housing market [...]
Entries Tagged as 'Economic Meltdown'
Turn and Burn – a Highly Profitable Foreclosure Strategy
October 13th, 2009 · 1 Comment · Credit Reports, Mortgages
Tags: Buy and Bail·Credit Scores·Economic Meltdown·Good Credit·investment loans·Making Homes Affordable Program·pay with cash·turn and burn
Vote for the Person Most Responsible for the Financial Crisis
February 18th, 2009 · No Comments · Consumer Debt
Time magazine has come up with a little nifty online poll in which you can vote for the person most responsible for the economic melt down.
Current results as of this writing:
Phil Gramm
Christopher Cox
Angelo Mozilo
Joe Cassono
Franklin Raines
You might be asking yourself, like me, who are these guys? (**Answers at the bottom.) Where’s Bernie Madoff? [...]
Tags: Angelo Mozilo·Bernie Madoff·Christopher Cox·Economic Meltdown·financial crisis·Phil Gramm·US Economics·Washington
