According to Marketwatch today, many lenders can’t sell their loans on to other investors: After mortgage lenders like Indymac offer loans, they often package them for sale to institutional investors as mortgage-backed securities. If the loans conform to the standards of government-sponsored enterprises such as Fannie Mae those organizations can buy them. If the loans don’t conform, they are sold in the private, secondary market to other investors such as hedge funds and insurers. The private, secondary mortgage market "is not functioning," Perry wrote in an email to Indymac staff, which was posted on a website run by the company…
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"BANKERS and investors might not agree, but the recent sell-off in financial markets is good news. It may, at last, have brought people to their senses." – The Economist (Cover Story) "Buoyant global growth and the pick-up seen in Canada underpin our optimism on the equity outlook … But unfortunately, over the last month investors have been throwing out babies with the U.S. mortgage bathwater." – CIBC Economist "I think it’s a healthy correction. We’ve seen excess in terms of leverage and there was not enough premium for the risk structures." – top executive of Bear Stearns "All market participants…
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Many thanks to "Austin Real Estate" for permission to reprint his Guide to Going Bankrupt in Real Estate.  For those of you who are uncomfortable with financial solvency, you should find a lot of useful hints here! Note:  Austin does indicate: This is not a definitive guide to foreclosure. A lot of people end up in foreclosure due to many things, unforeseen events like unpreventable family illness, divorce or being jobless. This is a guide to what I call elective foreclosure. There have been a lot of books and late night infomercials on how to become rich through real estate….
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