Borrowing crisis looms
Unemployment would lead almost two-thirds of borrowers to default on personal loans and credit card balances within three months of losing their income.
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End mortgage insurance early (Myrtle Beach Online) NEW YORK - If you're tired of making monthly payments toward private mortgage insurance, you might have an out.read more...
BOJ chief says subprime mortgage crisis unlikely to seriously affect Japanese financial system (AP via Yahoo! Malaysia News) Bank of Japan Governor Toshihiko Fukui said Monday that the subprime mortgage crisis is unlikely to seriously impact the Japanese financial system because of a limited exposure to credit markets.read
Britannia increases maximum mortgage term to 40 years (Money Marketing Online) Britannia Building Society is increasing its maximum mortgage term to 40 years in a bid to target first time buyers. ...read more...
New Fabric Store Opening If you enjoy sewing or crafts take note. A new JoAnn's Superstore is getting ready to welcome the public.read more...
Morgan Stanley to Cut 1,000 U.S., U.K. Mortgage Jobs (Update4) (Bloomberg.com) Feb. 13 (Bloomberg) -- Morgan Stanley, the second-biggest U.S. securities firm, will eliminate 1,000 jobs by scaling back its U.S. residential mortgage business and closing the Advantage Home Loans unit
'Mortgage fraud schemer' gets 2 years (St. Louis Post-Dispatch) The head of a mortgage fraud scheme that costs lenders more than $400,000 was sentenced Friday to two years in federal prison.read more...