Interesting Personal Debt News Links (March 31, 2009)

March 31, 2009

Essentially much of the current crisis with American banks and mortgage companies can be attributed to the deregulation mania of the current administration. It is true that deregulation began to some extent within the Clinton administration but it rapidly escalated after that.

Homebuilder Lennar Corp. said Monday it’s fiscal first-quarter losses ballooned 77 percent as it booked charges to adjust land and inventory values, while home deliveries and new orders plunged despite stepped-up buyer incentives.Chief Executive Stuart Miller said the company, one of the nation’s largest homebuilders, continued to face negative housing market and economic trends during t…

Recently, the Bush administration nationalized the two major mortgage giants. Yes, you read that rightnationalized. Very strange for a Republican administration since this is nothing less than a form of state socialism which Republicans are supposedly adamantly against.

When to file bankruptcy? One rule of thumb: If your total credit cart debt is more than three to five times your monthly income, it may be time to consider filing.

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