Housing

Zero Dollars, Zero Cents

don't outlive your money
(swanksalot via Flickr)

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We bought her for $1,000 early this year. The mortgages she's made of were going sour at an alarming rate. When enough of the mortgages went bad, she would die.

On today's Planet Money:

Toxie — Planet Money's mortgage-backed toxic asset — is in a coma.

The monthly checks we've received since we bought Toxie earlier this year have added up to $449. Our payment for this month: zero dollars and zero cents.

She's not dead yet, but the end is drawing near.

For more of the latest details, read our post from this morning. This graphic shows how the mortgages are doing; this map, from PBS's Patchwork Nation, shows where the mortgages in Toxie are located.

Download the podcast, or subscribe. Music: The Smiths' "Girlfriend In A Coma." Find us: Twitter/ Facebook/ Flickr.

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