Woman's mortgage piles debt upon debt (Akron Beacon Journal) To understand what some homeowners in mortgage trouble face, talk to Barbara Fongheiser. She's 60 years old and works two jobs, earning about $30,000 a year.read more...
New Sewer Plant Links Are Facing Delays read more...
S&P slashes second-lien mortgage bond ratings (CNN Money) Standard and Poor's Rating Services dropped the other shoe Thursday, announcing it would downgrade 418 classes of U.S. residential mortgage backed securities (RMBS) backed by second-lien collateral.read more...
Bigger Bids Aren't Always Better Bids Bidding wars among would-be home buyers, once a rarity, seem to have become almost routine this frenzied spring. But even now, it's not all about money, money, money. ·
GMAC loans ResCap mortgage unit $468 million (AP via Yahoo! Finance) Mortgage lender Residential Capital has already tapped much of a new $750 million line of credit offered by its parent GMAC.read more...
Increasing mortgage defaults cause concern (Knoxville News Sentinel) When East Tennessee homebuyers go through Chuck Bailey's company to get financing, about three in 10 end up with a subprime mortgage.read more...
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