Inside The Meltdown

I have posted a copy of Frontline’s documentary, Inside The Meltdown, at my website which you can link to here. This film takes a chronological look of what went wrong with America’s economy while focusing on various factors leading up to our current monetary crisis.

Who’s Holding the Mortgage on Your House?

Well, if you happen to be one whose paid-off your mortgage then you definitely know the answer to that question; You Do!  However, if you’re like the millions of people who are paying on their mortgages, you might answer something like this…”The bank where I got the mortgage from” or how about “the mortgage company where I got the loan from holds the mortgage”  Whoa Nellie! Not so fast.  There’s a very good chance that there are dozens, if not hundreds of people and companies who own a piece of your mortgage, which bring me to the topic of this article….Securitization.

Without getting too technical here, let me try to describe what’s going on here.