Interesting Personal Debt News Links (March 09, 2009)

March 9, 2009

* Minnesota’s mortgage meltdown (Bob Collins, KCRB)

How bad is the mortgage foreclosure and delinquency problem here? Bad, but not as bad as the rest of the country, according to a report released Thursday by the Mortgage Bankers Association.

* Short sales create issues for Hawaii Realtors and legislators (Atlanta Business Chronicle)

Hawaiis real estate community is finding new ways to handle the states growing number of short sales, as lawmakers consider changes in a law that has made it difficult to assist homeowners who need to sell their homes for less than they owe.

* Clues to recession’s end lurk in economists’ data

The recession is already in its 15th month. For now, everything seems to be getting worse: The Dow is in free fall, jobs are vanishing every day, and one in eight American homeowners is in foreclosure or behind on payments.

* Winners and losers: The rental brigade (The Irish Independent)

CASH-STRAPPED housebuilders are pushing the case for renters to save money by actually buying a house instead. Rents have fallen by 7.2 per cent in the last year, compared with mortgage repayments dropping over 18 per cent.

* Economy: When will it bottom? (Alan Zibel-)

When will this wretched economy bottom out? The recession is already in its 15th month, making it longer than all but two downturns since World War II. For now, everything seems to be getting worse: The Dow is in free fall, jobs are vanishing every day, and one in eight American homeowners is in foreclosure or behind on payments.

* Parishioners Unite To Fight Foreclosure (Bill Whitaker, CBS News)

Parishioners Unite To Fight Foreclosure CBS Evening News: Catholics Battling Banks For Their Homes In Los Angeles Find Strength In Numbers

* Bovis Homes reports �78.7m loss (BBC News)

The housebuilder Bovis Homes has reported a pre-tax loss for 2008 of �78.7m, compared with a profit of �123.6m for 2007.

* White-collar criminals should do time in prison (News & Record)

Our economic slump is no accident. It was perpetrated by people driven by greed just to gather more and more wealth. Their reprehensible actions border on criminal.

* Albuquerques negative equity hits 9% (Pittsburgh Business Times)

Nearly nine percent of Albuquerques homes with a mortgage, a total of 11,693, are in negative equity, according to newly released data from First American CoreLogic . An additional 4,957 mortgages, or 3.8 percent, are in near negative equity, resulting in a total of 12.7 percent of all outstanding mortgages in negative equity and near negative equity for Albuquerque.

* Cleveland area leads U.S. in commercial mortgage delinquencies (Bloomberg News)

Cleveland and Detroit lead the nation in commercial mortgage delinquencies, a sign the housing crisis that brought down Wall Street is spreading beyond the residential market.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: