1. Over 98,000 “bad” mortgages have been sold to investors through a government program since 2010.

2. The Department of Housing and Urban Development (HUD) sells mortgages to investors at a steep discount — at times as little as 41 percent of the mortgages’ collective value.

3. Homeowners typically aren’t informed when their mortgages are sold. This prevents them from advocating for better terms, which they’re entitled to under Federal Housing Administration protection.

4. Wall Street investors pay only two-thirds* of the full mortgage value when they buy mortgages from the government (*median price).

5. Homeowners aren’t so lucky: they must pay about 124 percent* of the property value to keep their homes(*median price).

Read on.

Living the thug life….

The sale of a luxury ranch owned by former Lehman Brothers Chief Executive Officer Dick Fuld just set a new record for the most expensive property ever sold via auction, according to a report from CNBC.

Fuld’s ranch, a 71-acre spread called Big Wood River Estate, has 11 bedrooms between three houses and comes with 2,100 feet of riverfront land.  The ranch is located in Sun Valley, Idaho.