Interesting Personal Debt News Links (February 12, 2009)

February 12, 2009

* Bankruptcy filings up 41 percent (Business Journal Charlotte)

The number of personal bankruptcy filings in Massachusetts jumped 41 percent in 2008 from a year earlier, according to a report from The Warren Group .

* Mortgage Questions Answered (The Blade)

Q. I ve found out that I have to pay flood insurance before I can get a mortgage loan. What exactly is flood insurance and why do I have to pay for it?

* FBI shifts agents as fraud cases rise (USA Today)

WASHINGTON Mortgage fraud investigations are mounting as the economic crisis worsens, and FBI agents assigned to national security after the 9/11 attacks are “gradually moving back” to assist with financial fraud inquiries, a top FBI official said Wednesday.

* FBI may shift counterterror agents to anti-fraud

WASHINGTON – With thousands of fraud investigations under way, the FBI is considering shifting agents away from counterterrorism work to help sort through the wreckage of the financial meltdown.

* Mortgage rates slide (Lara Moscrip, Money)

NEW YORK (CNNMoney.com) — Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday.

* Suspect in mortgage fraud caught at Canadian border

SACRAMENTO , Calif. A suspect in a nationwide mortgage fraud scheme who fled the country was caught at the Canadian border with $1 million in Swiss bank certificates and $70,000 stuffed in his cowboy boots, authorities said Wednesday.

* California mortgage fraud suspect is caught at Canadian border

Sacramento — A suspect in a nationwide mortgage fraud scheme who fled the country was caught at the Canadian border with $1 million in Swiss bank certificates and $70,000 stuffed in his cowboy boots, authorities said Wednesday.

* Suspect in mortgage fraud seized at Canadian border (Don Thompson)

SACRAMENTO, Calif. A suspect in a nationwide mortgage fraud scheme who fled the country was caught at the Canadian border with $1 million in Swiss bank certificates and $70,000 stuffed in his cowboy boots, authorities said Wednesday.

* Stocks Open Lower After Personal Spending Falls

NEW YORK – Stocks are extending last week’s slide after a worse-than-expected drop in personal spending added to investors’ anxiety about the economy.

* Mortgage Fraud Suspect Caught With $70G in Boots (Fox News)

SACRAMENTO, Calif. A suspect in a nationwide mortgage fraud scheme who fled the country was caught at the Canadian border with $70,000 stuffed in his cowboy boots and nearly $6,000 worth of platinum, authorities said Wednesday.

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