Interesting Personal Debt News Links (March 29, 2009)
March 29, 2009
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* Chase opens Sacramento office for troubled homebuyers (Jim Wasserman, Sacramento Bee)
It’s nothing too special, just a long, gray row of cubicles on the second floor of a Washington Mutual Bank building near Arden Fair mall.
* USenate Addresses Economys Impact (Shane Ferro, Columbia Daily Spectator)
Columbia University Senators addressed financial concerns, ranging from the economic downturns impact on the endowment to its impact on student loans, at a monthly plenary meeting on Friday.
* Portsmouth bucks nationwide foreclosure trend (Adam Leech, Rockingham News)
While many communities in the state have seen sharp increases in foreclosures, plummeting home values, increased unemployment and significant drops in single-family home sales, Portsmouth has seen little to no change from 2006 to 2008.
* Low ‘teaser’ mortgage rates entice, but beware (Lesley Mitchell, Salt Lake Tribune)
the one-year variety. The Mill Creek Terrace condo development last week was offering qualified buyers a 4.625 percent 30-year loan with a 3.625 percent rate for the first year.
* Use Lent to help battle the bad-economy blues (Jeff Brumley, Florida Times-Union)
President Barack Obama and Congress have rolled out economic stimulus plans to reinvigorate the economy and bring hope to millions of Americans facing unemployment, foreclosure and tanking 401(k)s.
Jim Wasserman raises many interesting points.
All the breathless media coverage of the Fed’s decision this week to spend another $1.2 trillion to buy mortgage-backed securities and more Fannie Mae and Freddie Mac mortgages insinuated that interest rates would take a quick and deep dive into 4 percent territory.
A great story by Stephanie Armour of USA Today.
Tumbling interest rates are setting off a mortgage-refinancing scramble among homeowners and pulling undecided buyers into the market.
Interesting Personal Debt News Links (March 25, 2009)
March 25, 2009
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* Taxpayers Could Lose Money in Treasury Buying Plan (CBS News)
* Refinance boom sends mortgage applications higher (Bloomberg News)
* CPS Projects Big Budget Shortfall (WBEZ)
* Administration moves against bad assets (Tom Raum-)
* Comment on North Countys most abnormal foreclosure rates by AMac (The Californian)
* What are toxic assets, and how will Obama plan work?
* Jeremy Warner: Ninety per cent mortgages courtesy of the taxpayer (The Independent)
* Mortgage rates hit new lows (St. Louis Business Journal)
* Different Strokes (The Gamecock)
Interesting Personal Debt News Links (March 21, 2009)
March 21, 2009
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* Mortgage refinancing surge expected (Washington Times)
* Eastern NC Realtors Prepare for $75-Billion Initiative (Arthur Mondale, WNCT)
* Crude oil prices level off after week-long rally (The Star)
* Fraud fighters may get more help (Marcy Gordon)
* For small Idaho businesses, conditions just improved a little, Zions Bank says (David Staats, Idaho Statesman)
* The genuine economic worry is stagflation (E. Thomas Mc Clanahan, Kansas City Star)
* Alaskans keeping up on car loans (Anchorage Daily News)
* Monday shaping up to be another historically bad day on Wall Street (Burlington Co. Times)
* McCain’s chances slide with the economy (E. Thomas Mc Clanahan, Kansas City Star)
* County should wait to save up (Daily Progress)
Interesting Personal Debt News Links (March 19, 2009)
March 19, 2009
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* Declining mortgage rates expected after Fed move (Daily Oklahoman)
* Columns > Race to the Bottom > Bucking the bailout > Americans protest Bushs plan to rescue Wall Street. (R.V. Scheide, Chico News & Review)
* New jobless claims fall more than expected to 646K (Christopher S. Rugaber)
* On Broadway, a muddy mess (News Tribune)
* ‘Too big to fail’ must end, policymakers say (Marcy Gordon)
* Mortgage lending falls to eight-year low (Jill Treanor, Guardian Unlimited)
* Editorial: Bad dream (Columbus Dispatch)
* GE says finance unit is sound despite bad economy (Stephen Manning)
* Aggressive Fed (Baltimore Sun)
Interesting Personal Debt News Links (March 07, 2009)
March 7, 2009
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* Nothing succeeds quite like failure (James A. Fussell, Kansas City Star)
For as long as anyone can remember, America has embraced such pull-yourself-up-by-your-bootstrap maxims as “failure breeds success,” “learn from your mistakes” and “if at first you don’t succeed, try, try again.”People are still willing to learn from their mistakes. But something has happened to failure.Citing everything f…
* When economy bottoms out, how will we know? (Alan Zibel-)
When will this wretched economy bottom out? The recession is already in its 15th month, making it longer than all but two downturns since World War II. For now, everything seems to be getting worse: The Dow is in free fall, jobs are vanishing every day, and one in eight American homeowners is in foreclosure or behind on payments.
* Mortgage boost as ECB rates tipped to fall again (Charlie Weston, The Irish Independent)
HOMEOWNERS could see their monthly mortgage payments being chopped by another 80 with the European Central Bank (ECB) expected to cut interest rates next week.
* Governing at the eye of the storm (Mail Tribune)
As if the problems in the U.S. and world economies were not enough of a challenge in themselves, the young Obama administration also is being called on to figure out simultaneously how to govern in such an emergency.
* Mortgage lending increasing at slowest rate in 23 years (The Irish Independent)
Mortgage lending advanced last month at the slowest pace in 23 years as a deepening recession and falling house prices deterred buyers.
Interesting Personal Debt News Links (February 28, 2009)
February 28, 2009
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* Congregation in foreclosure fight (Maurice Possley, Chicago Sun-Times)
* Ed McMahon Has Bone Cancer: Source
* Andrew Clark: Generation Bailout (The GW Hatchet)
* Safeguard financial data when applying for mortgage (Seattle Times)
* HUD secretary, Congress debate foreclosures
* AARP says plan not for all (Residential Design & Build)
* Banks in a rush to cut interest rates (The Telegraph)
* Chris Griffith: Short sales coming up short on stopping foreclosures (Naples Daily News)
* Buffett blasts himself, others (Charlotte Observer)
* Effor.com: Will the banks survive? (Knoxville News-Sentinel)
Interesting Personal Debt News Links (February 16, 2009)
February 16, 2009
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* Oil falls below $37 as demand for crude wanes (Alex Kennedy)
* On the House: Is this a final farewell to ARMs? (Al Heavens, Philadelphia Inquirer)
* Ex-Rezko partner bankrupt (Chicago Sun-Times)
* Wells Fargo sees pain for small banks (St. Louis Business Journal)
* South of the Border, down Bernankes way (The Financial Times)
* Wells sees pain for small banks (Atlanta Business Chronicle)
* Wells Fargo execs predict pain for small banks (Boston Business Journal)
* Four arrested, one sought for conspiracy, grand theft charges in mortgage fraud case (Steven Beardsley, Naples Daily News)
* Savers abandon ISAs as they run out of money and rates fall (Harry Wallop, Telegraph)
* Stimulating Phoenix: City Looks for Bailout (Mike Von Fremd, ABC News)
Ailish O’Hora: Fresh rate cut eases burden on homeowners
February 15, 2009
Ailish O’Hora says:
MORTGAGE holders are set to benefit from a welcome drop in their monthly repayments after the European Central Bank signalled a further 0.5pc cut in interest rates.
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