One of the founders of TheShortSaleGoods.com describes at some length the compounding factors that led to the mortgage crisis that the American economy is in the middle of. How did it get so far that Fannie Mae and Freddie Mac were just taken over by the Federal government? Why did the real estate market in the United States turn into a bubble that has popped?
what I don't understand is when banks have bad mortgages on their books and they try to sell these mortgages to pensions...etc why would the pensions buy them knowing that the mortgages would default anyways??
antonsoukhan 3 years ago