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Thursday, July 17, 2008

IndyMac Bank, Fannie Mae, Freddie Mac and You - July 17, 2008

Want to understand what the current mortgage and banking mess is all about? This show, which I produce and co-host, helps to explain what is going on and why. -- Douglas

This week brought the collapse of Indymac Bank. Their collapse wreaked havoc in the financial markets, but it can have a greater effect on individual depositor's stress levels. This could be witnessed in the unnecessary bank run on Indymac this week.Mortgages Made Simple logoMany people do not realize they should not keep more than $100,000 in any bank. Insurance only covers up to $100,000 in deposits, any amount over that is negotiable to as low as 50 cents on the dollar. But for those who have a smaller amount on deposit, don't worry, you will get every penny back.

We also discuss Fannie Mae and Freddie Mac's current troubles and why they are so important to the housing market.

If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.

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