As the market has detiorated over the past two weeks to where it stands at 8451 as I write this, many questions dance in my head. These questions in no way represent sugar plums; more like sour grapes. I know that in 3 years when it is time for my wife and I to move again, we will want to buy our first home. Now I know I have excellent credit. I have the kind of credit that banks drool over.

It starts with mortgage. Many Americans borrowed money to buy their own house. After the crash of the dotcom bubble in 2000s many countries including US were facing economic recession.

Mortgage assets worth £2.3bn of Lehman Brothers are now up for grabs by BlackRock Financial Management. Talks have begun between the two parties after Lehman Brothers decided to retreat from residential mortgages.

Provides information about online mortgages US mortgage rates, home mortgage refinancing, mortgage for self employed, home equity loans and many other mortgage related topics.

Have you read about this news where a 53-year-old lady shot herself dead soon after faxing a letter to her mortgage company? The suicide note said that by the time of foreclosure on her house, she would be dead. It is very sad for the family to experience such a tragedy but what is the underlying message to the US government?

Lehman Brothers, the fourth-largest U.S. securities firm, reduced its mortgage holdings in the second quarter by 20% to curb further losses from the credit-market collapse.

Lehman reported a loss of $2.8 billion, or $5.14 per share, in line with preliminary figures the company released last week. Leveraged buyout loans were cut 37% to $18 billion.

Countrywide shot up over 10% in early morning trading as the cost of protecting their debt against default fell for a second day in a row on growing confidence that Bank of America will proceed with its acquisition. The market was also glad to hear that David Sambol will retire as president of Countrywide after its acquisition by Bank of America.

The Federal Reserve says Americans' percentage of equity in their homes has fallen below 50 percent for the first time since 1945.