Interesting Personal Debt News Links (April 07, 2009)

April 7, 2009

* Nervous in Newcastle is now decisive in Dunfermline (Andrew Hill, The Financial Times)

The ignominious collapse of the Dunfermline Building Society is more of a nuisance than a heart-stopping moment in UK finance. And maybe everyone is a little jaded by bail-out Mondays. Still, the lack of detail from the government is striking.

* ‘We Will Find You’: Feds on Housing Scams (Matt Jaffe, ABC News)

The Obama administration has already unveiled its plan to stem the rising home foreclosure rate , but with foreclosure scams also increasing, the administration today announced a multi-agency effort to crack down on scams that prey on struggling homeowners.

* Dad says James Duncan is a crook (Leslie Berkman, Press-Enterprise)

Who would defraud his own father? Dow Duncan, who faces criminal charges for making false statements on a mortgage application, contends that is just what his son, James B. Duncan, did.

* Lake Oswego sewer rates jumping 30 percent (Lee Van Der Voo, West Linn Tidings)

Lake Oswego residents will be paying substantially more for sewer work than previously thought, with sewer rates predicted to climb 30 percent in July and at least 25 percent in the following two years.

* Beware of refinancing schemes (Mario Roldan, WCNC)

The Better Business Bureau of Southern Piedmont welcomes Mondays announcement by the federal government that it will crack down of fraudulent mortgage schemes.

* Citigroup chairman: bankers being ‘vilified’ (Jaymes Song, San Diego Union-Tribune)

Citigroup Inc.’s new board chairman, Richard Parsons, said financial institutions are being targeted for creating the nation’s financial crisis, but they aren’t the only ones responsible.

* The appraisers are back – and with a vengeance (Scott Van Voorhis, Boston Globe)

Back during the boom there were few if any barriers between you and the home or condo you wanted to buy.

* President has to bet on economy with the cards he’s been dealt (Thomas L. Friedman, Columbus Dispatch)

While campaigning for the presidency in 1932, in the midst of the Great Depression, Franklin D. Roosevelt gave a commencement address on May 22 at Oglethorpe University in Atlanta that probably describes President Barack Obama’s strategy today — and the big bet he has made — as well as anything could.

* Pa. man admits to defrauding Toms River church members of $1M (Margaret F. Bonafide, Asbury Park Press)

Pennsylvania man pleaded guilty in federal court Monday for operating two so-called Ponzi schemes bilking members of the Church of Grace and Peace in Toms River of more than $1 million, officials said.

* To Rent or Buy in 2009? (Sara Sutachan, California Real Estate)

Given recent changes in home prices and the current low mortgage rate climate, there have been significant gains in affordability for prospective first-time homeowners. Earlier in 2009, a provision in the Stimulus Bill provided for a first-time Homebuyer Tax Credit of 10 percent of the purchase price of the home up to $8,000. The CALIFORNIA ASSOCIATION OF REALTORS� analyzed the difference betwe…


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