Interesting Personal Debt News Links (April 15, 2009)

April 15, 2009

* SHORT SALE in a nutshell (Cynthia Sells, Summit Daily News)

What can the average person do to stop a foreclosure? If you find yourself behind on your home loan payment, first, dont wait until you are several mortgage payments behind to get help. Mortgage companies have entire departments, known as loss mitigation, available to help you out of this mess. You have to specifically ask for that department simply speaking to a customer service represen…

* U.S. crackdown targets mortgage scams (Alan Zibel, Philadelphia Inquirer)

Federal and state officials are cracking down on mortgage-modification scams, accusing “criminal actors” of preying on desperate borrowers caught up in the nation’s housing crisis.

* Report: US is ripe for recruiting by extremists (Eileen Sullivan, Tri-City Herald)

Homeland Security officials are warning that right-wing extremists could use the bad state of the U.S. economy and the election of the country’s first black president to recruit members to their cause.

* Buy while rates are low (Beth Orenstein, Morning Call)

Lenders expect that with mortgage interest rates at historic lows, with home prices declining and many first-time homebuyers eligible for up to an $8,000 tax credit, they will be kept busy with applications for home loans this spring.

* Detectives visit woman in hospital (Candice Baker, Independent)

They tell her the caretaker suspected of financial abuse was arrested. Suspects pretrial begins at 8:30 a.m. today.

* Agencies see more people without health insurance (Glen Creno, Arizona Republic)

The agencies that provide health care for people who can’t afford it say they’re being overrun as more people lose jobs and the medical insurance that goes with them.

* State lead plaintiff in case against AIG (Roland Stoy, Coldwater Daily Reporter)

As national outrage continues against the American International Group, it has been announced that the state of Michigan will serve as lead plaintiff in a national class action lawsuit against AIG regarding pension funds.

* YRC, Teamsters discuss pension (Steve Rosen, Kansas City Star)

Worldwide is negotiating with the Teamsters union and its lending group about putting up real estate as collateral in place of monthly pension contributions.

* Local home loan opportunities available for qualified buyers (Nick Cruit, Sierra Sun)

The tightening of lending restrictions following the subprime mortgage crisis is dampening the sales of luxury homes in Truckee and Tahoe much more than modestly priced homes, local real estate officials say.

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