http://www.delandrealestateagent.com/deland-fixer-upper/ Sat, 10 Sep 2011 05:51:46 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.delandrealestateagent.com/deland-fixer-upper/#comment-96 Denna Dumont Tue, 12 Oct 2010 04:16:59 +0000 http://www.delandrealestateagent.com/?p=163#comment-96 AIG provided financial insurance for the firm who purchased the mortgage paper. When it turned out that paper was risky AIG found itself over exposed, having to cover so many bad debts. (BTW, not because individuals couldn’t afford the property. . . mostly because the terms of the loan were changed, interest rates skyrocketed, payments doubled, etc. . . or, the house declined in value, making the loan risky by definiton, because the property could no longer secure it). AIG provided financial insurance for the firm who purchased the mortgage paper. When it turned out that paper was risky AIG found itself over exposed, having to cover so many bad debts. (BTW, not because individuals couldn’t afford the property. . . mostly because the terms of the loan were changed, interest rates skyrocketed, payments doubled, etc. . . or, the house declined in value, making the loan risky by definiton, because the property could no longer secure it).

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