Monthly Archives: February 2008

Key Democrats Want Government To Stabilize Housing Crisis

The WSJ reports that the White House’s free market bias is meeting opposition. Barney Frank (D., Mass.) is the chairman of the House Financial Services Committee. He wants to refinance as many as one million “distressed” homeowners. He wants Uncle … Continue reading

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Stimulus Plan Is Nuts

The Appeal-Democrat writes that the subprime mess was created by overly-easy credit and overly-easy credit is not the right way out of the mess. What goes up often comes down. But there’s more than a market phenomenon going on here. … Continue reading

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Think You’re Safe From The Mortgage Crisis?

The Post-Gazette.com says everyone is getting hurt by the subprime mess. Everyone will feel the credit crunch and liquidity crisis. You don’t have to own a home to be vulnerable to the downturn in the economy. It is becoming more … Continue reading

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Lenders Gone Crazy

Julie Patel writes that South Florida was home to many of America’s most aggressive subprime lenders. We’re talking Countrywide, Washington Mutual and JP Morgan Chase. South Florida’s biggest commercial banks — including Bank of America, Wachovia, SunTrust and Wells Fargo … Continue reading

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Rewriting Mortgage Terms

The Los Angeles Times reports that Senate Democrats want to change bankruptcy law. Lenders oppose this. The Democrats say the want to help hundreds of thousands of homeowners keep their houses. The proposal, part of the Foreclosure Prevention Act embraced … Continue reading

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Local Governments Bailing Out Trouble Loans

William Yardley writes about local governments lending money to save people from foreclosure. Many wonder the government is bailing out the middle class? Why should tax payers subsidize the well off who make bad loan decisions? Seattle, which has nowhere … Continue reading

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U.S. Congress Considers Mortgage Bailout

The IHT reports that Uncle Sam might buy up to $15 billion worth of bad mortgages. The U.S. government might buy up to one million mortgages over five years to help reduce foreclosures and stablize lenders. The loans would be … Continue reading

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Surviving Your Mortgage, Keeping Your Home

The Arizona Daily Star reports that good credit ratings are more important than ever if you want to refinance. Your interest rate will vary depending on your credit rating. ? Take stock of how much equity you have in your … Continue reading

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Refinance Your Home Mortgage

From the Arizona Daily Star, a report on renewed interest in refinance. Rates are up and down, but way down compared to three months ago. And the borrowers most eager to get out from under onerous loans — those who … Continue reading

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How To Borrow Money

From Best Syndication: Summary: Loans can be needed at any point of time. Government, credit societies, financial institutions and some other societies are coming forward in lending all purpose loans. Before borrowing any kind of loan it is important to … Continue reading

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