Jay

Why We Can't Take Mortgage Refinances to the Bank Just Yet

I don't think the primary intent of the government's effort was to re-encourage the "house as an ATM" phenomenon, but to help speed the search for the bottom in the housing market.

Also, you're paying down the "principal," not "principle," of the mortgage balance.

Financials ETF: The Worst May Be Behind Us

"These results include all write-offs announced to-date, and although the level of profits is severely depressed, at least there are profits, implying that the worst of the financial bleeding may be behind us."

How does the fact that - after all write-offs announced thus far, some level of profitability remains - indicate that the worst is behind us? Someone please enlighten me?