Are you the owner of this house? You might be...

Posted by: Dean Foust on July 2, 2007

For all of those investors who bought into hedge funds or into collateralized debt obligations — seduced by the high returns that the fund managers promised — here’s a look at one of the assets that might be in your portfolio. Kathleen Howley and Bob Ivry at Bloomberg take a look at some of the homes in Decatur, Ga. that are owned by such Wall Street titans as Bear Stearns, Lehman Brothers and JP Morgan Chase. In a few instances, the firms bought the houses out of foreclosure, but in many instances they are stuck with the house after buying the mortgages on the home — and then having the house pushed back to them when the borrower defaulted. Interesting read…

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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