Interesting Personal Debt News Links (May 02, 2009)

May 2, 2009

* Senate defeats anti-foreclosure proposal (Anne Flaherty, WRAL)

The Democratic-controlled Senate on Thursday defeated a plan to spare hundreds of thousands of homeowners from foreclosure through bankruptcy, a proposal that President Barack Obama embraced but did little to see through.

* BofA’s profit rise, but so do worries (Christina Rexrode, Statesville Record & Landmark)

Bank of America said Monday it made more money in the first quarter than it did in all of 2008, blowing away analysts’ predictions and the profits of every other bank so far. But even that couldn’t please investors, who believe that more bad news is on the horizon. The bank’s shares fell through the day, plunging 24 percent.

* Chancellor expected to help boost supply of mortgage funds in Budget (Myra Butterworth, The Daily Telegraph)

Alistair Darling will announce in the Budget this week that the Government will underwrite billions of pounds worth of new mortgage-backed assets.

* Looking at buying a home? ‘Get off the sidelines’ (Nancy Kimball, Daily Inter Lake)

In the first 45 days this year, a third of all home sales in the Flathead Valley tracked by Northwest Montana Association of Realtors’ Multiple Listing Service were foreclosed properties.

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