Interesting Personal Debt News Links (March 29, 2009)

March 29, 2009

* Chase opens Sacramento office for troubled homebuyers (Jim Wasserman, Sacramento Bee)

It’s nothing too special, just a long, gray row of cubicles on the second floor of a Washington Mutual Bank building near Arden Fair mall.

* USenate Addresses Economys Impact (Shane Ferro, Columbia Daily Spectator)

Columbia University Senators addressed financial concerns, ranging from the economic downturns impact on the endowment to its impact on student loans, at a monthly plenary meeting on Friday.

* Portsmouth bucks nationwide foreclosure trend (Adam Leech, Rockingham News)

While many communities in the state have seen sharp increases in foreclosures, plummeting home values, increased unemployment and significant drops in single-family home sales, Portsmouth has seen little to no change from 2006 to 2008.

* Low ‘teaser’ mortgage rates entice, but beware (Lesley Mitchell, Salt Lake Tribune)

the one-year variety. The Mill Creek Terrace condo development last week was offering qualified buyers a 4.625 percent 30-year loan with a 3.625 percent rate for the first year.

* Use Lent to help battle the bad-economy blues (Jeff Brumley, Florida Times-Union)

President Barack Obama and Congress have rolled out economic stimulus plans to reinvigorate the economy and bring hope to millions of Americans facing unemployment, foreclosure and tanking 401(k)s.

* Booming Business For Car Repo Men (Hari Sreenivasan, CBS News)

Booming Business For Car Repo Men CBS Evening News: Auto Loan Defaults Are On The Rise, Leaving Many Americans Car-less; But Some Companies Benefit

* Home repossessions rise 54pc to 40000 (Richard Evans, Telegraph)

The steep rise in repossessions – equivalent to one in 290 mortgages – comes despite the Bank of England cutting interest rates from 5.5pc to 1pc over the past six months.

* What happens to unwanted textbooks? (David Ward, KOHM)

Every year, college students take out student loans and incur rising costs in order to attend a university. One cost which is a necessary evil for students is buying textbooks.

* Expert: Arizona housing market near bottom (Marjon Rostami, Arizona Republic)

The Valley housing market may be nearing its bottom, analyst R.L. Brown said at a public meeting Thursday evening in northern Peoria


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