A Mortgage Crisis Begins to Spiral, and the Casualties Mount (New York Times)
Large companies that bought subprime lenders during a boom in the market are now scrambling to sell them or scale back their exposure.
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Lenders Cut Back On Student Loans Aug 10, 2008 8:15 pm US/Eastern The economic credit crunch isn't just about home mortgages any more.read more...
Homeowner Looks to Slash Costs As Teardown Costs Double Columnist Nancy Keates planned to replace her aging cottage with a custom-built home for about $800,000, but now faces a $1.6 million bill. She examines her expenditures with the hopes
Reverse mortgages the future for Australian securitization ABN AMRO makes its second foray into reverse mortgages in a month, suggesting these equity release loans will become the next to be securitized.read more...
Unemployment Rate Declines to 4-Year Low WASHINGTON - The nation's unemployment rate dipped to a four-year low of 4.9 percent in August as companies added 169,000 jobs, a sign that the labor market continued to gain
Refinancing an exotic mortgage (Bankrate.com via Yahoo! Finance) A sluggish home-sale market combined with tighter credit is making refinancing out an ARM or exotic mortgage more challenging, but not impossible.read more...
Key mortgage rate rises for 6th week The benchmark 30-year fixed mortgage rate rose to 6.67 percent in the Bankrate.com survey of large lenders.read more...