Bill deals with faulty foreclosures (Brendan Riley)
February 25, 2009
A short and simple story by Brendan Riley.
A proposed 1-sentence law change, approved Wednesday by a key Assembly panel, would help homeowners who face errors by mortgage companies of the sort that cost a Las Vegas family irreplacable personal possessions.
Interesting Personal Debt News Links (February 24, 2009)
February 24, 2009
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* Creditors fear new losses on Northern Rock bonds (Philip Aldrick, Telegraph)
* Changes not likely to hit depositors (Madlen Read)
* Mortgage approvals up in January (BBC News)
* Obama’s challenge tonight: answer CNBC’s Rick Santelli (Johanna Neuman, Los Angeles Times)
* Police raid Anglo Irish Bank (Agence France-Presse)
* Foreclosures lead to budget problems for associations (Paul Owers, S. Florida Sun-Sentinel)
* Even Cave Dweller Can’t Escape Recession (Scott Mayerowitz, ABC News)
* Southwest Riverside County among top in nation in foreclosed homes (Jeff Horseman, Press-Enterprise)
* January home sales rise and median prices drop: L.A. County details (Lauren Beale, Los Angeles Times)
* Harder to find our soft spot (Seattle Times)
Interesting Personal Debt News Links (February 24, 2009)
February 24, 2009
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* Opening Statements Given in McCafferty Trial (WKRC)
Prosecutors and defense attorneys have finished giving their opening statement in the murder trial of a Fort Thomas woman accused of killing her husband while he slept.
* Judge Kent pleads guilty, quits to avoid ’embarrassing’ trial (Houston Chronicle)
1986: U.S. District Judge Harry E. Claiborne, Nevada, impeached and removed from office for income tax evasion.
* With Web-based security, your walls have multiple eyes (Aldo Svaldi)
filings in the state last year, compared with 39,915 in 2007. The number of “completed” foreclosures that went to auction fell from 25,320 in 2007 to 21,301 in 2008.
* Bernanke: economy suffering ‘severe contraction’ (Jeannine Aversa-)
WASHINGTON — Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy is suffering through a “severe contraction” and pledged to use all available tools to lift the country out of the recession that already has cost millions of Americans their jobs.
* ComScore: Web searches spike for ‘unemployment benefits,’ ‘mortgage,’ ‘bankruptcy’ (Nashville Business Journal)
ComScore , a Virginia-based company that tracks Internet traffic, says that the faltering economy has sparked a surge in Web searches for phrases such as “unemployment benefits” and “bankruptcy.”
Bankruptcy Advice (WSAV)
February 24, 2009
Here is today’s article from WSAV.
As Washington bails out banks and struggles to help homeowners, millions of average Americans are doing their own difficult math, sitting at the kitchen table, crunching numbers, and wondering about an option that creates fear and confusion for many.
Interesting Personal Debt News Links (February 23, 2009)
February 23, 2009
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* Victims of mortgage crunch aren’t ‘losers’ (Chicago Sun-Times)
Victims of mortgage crunch aren’t ‘losers’ Schoolyard bully’s CNBC rant blames homeowners, when it’s the greed of his business class that’s at fault
* BofA, CitiGroup: Nationalization not needed (San Francisco Business Times)
Amid speculation about the nationalization of banks, executives of the two banks most cited for that fate are saying it isnt necessary.
* Arrest Made in Foreclosure Civil Disobedience Program (Joshua Rhett Miller)
Police in Baltimore today made what is believed to be the first arrest in a civil disobedience program aimed at supporting homeowners who refuse to vacate their foreclosed homes.
* Freddie Mac: Borrowers shun adjustable-rate mortgages (Kansas City Business Journal)
American homeowners have lost their appetite for once appealing adjustable rate mortgages, according to a new quarterly report from Freddie Mac .
* Prosecution witnesses continue their accounts of the HomeGold operation (Greenville News)
LEXINGTON — Prosecution witnesses resumed testifying today in the criminal trial of former HomeGold chairman Jack Sterling, and the former head of the company’s mortgage unit told the jury that Sterling and HomeGold’s chief executive “were always (No.) 1 and 2” in setting direction for the board.
Interesting Personal Debt News Links (February 23, 2009)
February 23, 2009
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* Record low expected for sales of new homes (Bloomberg News)
* Survey: Many small business owners favor tax cuts over asset plan (Sheryl Jean, Dallas Morning News)
* Housing advocates worry that lenders won’t rework loans (Newsday)
* Tom Gorman takes new role as bankruptcy trustee (Business First Buffalo)
* Michael White: Britain’s �2tn debt nightmare? Pull the other one (Michael White, Guardian Unlimited)
* Citizen Bank parent faces big losses (San Francisco Business Times)
* Huntington Homes: Report: H.B. homes stock shrinking (Orange County Register)
* Produce the note, strategy requires
* Freddie Mac investigating Freddie Mac
* RBS and Northern Rock to unveil radical strategies (Philip Aldrick, Telegraph)
San Francisco Chronicle: Mortgage rates fall again
February 23, 2009
Here is today’s article from San Francisco Chronicle.
The average rate on a 30-year fixed mortgage dropped to 5.04 percent last week from 5.16 percent the previous week. A year ago, the 30-year, fixed-rate mortgage averaged 6.04 percent.
Here is today’s story from The Scotsman on Size.
The sheer size of the turnout meant it had to set off earlier than organised, with the parade stretching more than a mile at one stage.
Interesting Personal Debt News Links (February 22, 2009)
February 22, 2009
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* Industrial production falls 1.8 percent (KABC)
* Ex-Fed governor feels ‘accountable’ in economic crisis (Greenville News)
* Another lousy week on the Street (WABC)
* Mortgages for new homes drop to lowest level since 1974 CML reveals (Myra Butterworth, Telegraph)
* U.S. describes alleged Sacramento-area mortgage fraud (Denny Walsh, Sacramento Bee)
* Inflation will cost pensioners’ hundreds of pounds next year Tories say (James Kirkup., Telegraph)
* HSBC DRAWS RENEWED IRE OF ACTIVIST INVESTOR (James Doran, New York Post)
* Suburban Federal’s short, sharp fall (Robert Little, Baltimore Sun)
* Foreclosure completions rise 21.75% in Mass. (Kevin Shalvey, Providence Business News)
* Homing in on bad mortgages (Denver Post)
Personal Debt Issues 