Interesting Personal Debt News Links (April 04, 2009)

April 4, 2009

* Falling mortgage rates spur surge in Sacramento refinancing (Jim Wasserman, Sacramento Bee)

Sacramento-area mortgage lenders reported high call volumes this week, as mortgage rates fell to their lowest levels since 1971, according to mortgage giant Freddie Mac.

* Texas Instruments sues 3 banks over auction-rate securities (Andrew D. Smith, Dallas Morning News)

Texas Instruments Inc. has sued Citigroup Inc., Morgan Stanley and Bank of New York Mellon Corp. for selling it $524 million in auction-rate securities that were supposed to be as good as cash but turned out to be impossible to sell.

* Loan modifications rise; many don’t pare payments (Alan Zibel, Arizona Republic)

Though lenders are boosting their attempts to curb record-high home foreclosures, fewer than half of loan modifications made at the end of last year actually reduced borrowers’ payments by more than 10 percent, data released Friday show.

* Anna Tuttle Villegas: Stockton’s melting pot bubbles with vigor (Anna Tuttle Villegas, Sacramento Bee)

have worked in Stockton for 34 years, which makes Stockton more my town than the city where I was born or the city where I sleep.

* How to really help troubled homeowners (Tami Luhby, Money)

(CNNMoney.com) — It may seem obvious: Increasing how much troubled borrowers pay on their mortgage leads to redefaults. But that didn’t stop America’s banks.

* Ivanhoe-Paseo: Rehabbers raise this urban area (Jeffrey Spivak, Kansas City Star)

three-story, stone-trimmed house just sold on the Paseo in Kansas City’s urban core. On the outside, the siding is white. On the inside, the walls are taupe.And on paper, the color of this house is gold.This four-bedroom home in the 2900 block sold late last year in a foreclosure for $26,500. The new owner cleaned it up and remodeled it, adding new windows, new bathrooms, …

* Biz Bits: USPS hopes Simpsons stamp makes some doh (Gatehouse Media, Middletown Transcript)

The U.S. Postal Service announced this week that it will be issuing The Simpsons stamps. The USPS produces about 20 special stamps per year, and its hoping to cash in on the popularity of Homer, Marge, Bart, Lisa and Maggie in late March, Postmaster General John Potter testified before Congress about the services financial woes. The Simpsons stamps will be available for viewing April 9 …

* Fannie, Freddie worker bonuses total $210M (Alan Zibel, Arizona Republic)

Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies.

* Waterworks Project Still in Play (John Schaffner, The Beacon)

It has been nearly a year since the Puller Group of Indianapolis pulled their proposal for a Hotel/Waterpark Complex off the table. Some members of City Council have become curious as to what the Mayor and her administration has been doing since. They got their answer Tuesday night. Since the Pullers pulled out of negotiations, we have met with several interested parties, said Port Clinton Ma…

* Inflation-proof your portfolio (Jon Birger, Money)

(Fortune) — With the economy mired in deep recession, inflation isn’t exactly a top-of-mind concern for most investors. After all, it’s hard to see how prices are going to get pushed up when consumers aren’t buying anything. Indeed, for many Wall Street economists, deflation seems to be the more immediate concern.

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: