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Krugman on Mortgage #39;Ponzi Scheme#39; \| The New York Observer

Krugman on Mortgage #39;Ponzi Scheme#39; | The New York Observer

This is a discussion on Krugman on Mortgage #39;Ponzi Scheme#39; | The New York Observer within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; In today's New York Times, the Nobel laureate and recent White House guest begs the question: Why didn't somebody say ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-28-2008, 03:50 PM

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Krugman on Mortgage #39;Ponzi Scheme#39; | The New York Observer

In today's New York Times, the Nobel laureate and recent White House guest begs the question: Why didn't somebody say something to warn the world of the financial crisis to come? Answer: Life is junior high. ... [N]obody likes a party b.../b

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