Interesting Personal Debt News Links (March 15, 2009)

March 15, 2009

* Watchdog to curb risky mortgages (Phillip Inman, Guardian Unlimited)

City watchdog the Financial Services Authority (FSA) is preparing a clampdown on risky mortgage lending by placing limits on the size of the loans offered to British homebuyers in a hard-hitting review of banking rules due this week.

* WSJ Looks at Arkansas Poultry Producers Facing Foreclosure (Lance Turner, Arkansas Business)

Like many Americans, Darris and Sarah Dixon are struggling with mortgage payments and trying to avoid bankruptcy.

* Landfills report up to 30% decline (Seattle Times)

In 2007, according to the EPA, Americans produced 254.1 million tons of household trash. Of that, by weight:

* The Pressure to feel Defeated (The Ledger)

Try to explain how perfectly ordinary it was to see the new Target Superstore at the Rolling Oaks Common shopping plaza in Four Corners have its grand opening on March 8 – and draw in a strong crowd?

* NH foreclosure victims may still face trouble (Shawne K. Wickham, Union-Leader)

If you’re one of the thousands of New Hampshire homeowners who are behind in their mortgages, you might think that letting the bank foreclose and walking away from your home will end your troubles.

* Gillette man sentenced for letters (Billings Gazette)

CHEYENNE – A Gillette man has been sentenced to two years and three months in prison for threatening a federal judge, the Internal Revenue Service and others over the seizure of his home.

* U.S. foreclosures up 30% in February (Alan Zibel-)

WASHINGTON Despite halts on new foreclosures by several major lenders, the number of households threatened with losing their homes rose 30 percent from last years levels, RealtyTrac reported Thursday.

* Fixing economy will take someone fluent in banks (Philadelphia Inquirer)

“You can take Hollywood for granted like I did, or you can dismiss it with the contempt we reserve for what we don’t understand. It can be understood, too, but only dimly and in flashes. Not half a dozen men have ever been able to keep the whole equation of pictures in their heads.”

* Fed weighs options to revive economy (Jeannine Aversa-)

WASHINGTON — As they prepare to open a two-day meeting Tuesday, Federal Reserve policymakers are weighing whether to launch new programs or expand existing ones to spur lending, get Americans spending again and lift the country out of recession.

* Banks sinking housing market (Modesto Bee)

My neighbor had been living off his home, which he inherited from his dad, for about a year and a half because he didn’t have a job. By the time he got a job, he was about four months past due on his mortgage of about $150,000. He tried to negotiate with the lender to no success. His mortgage holder had already received some bailout monies. The house was recently sold at auction for $62,000.

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