Investors buy loans, cut mortgages, make cash, raise fears
Posted: November 22, 2009 at 6:16 a.m.
As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value. Then the funds are helping homeowners by reducing the size of the loans.
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Front Section, Pages 1 on 11/22/2009
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