Types Of Bankruptcy

GMAC to sell 60 pct of mortgage unit (Reuters via Yahoo! News)   General Motors Acceptance Corp., the financial services subsidiary of General Motors Corp. , said on Wednesday it has agreed to sell a 60 percent equity interest in its commercial


There's a first time for everything  GORDONSVILLE - Down a sleepy stretch of road behind the historic Exchange Hotel, dreams of home ownership for low-income families really do come true.read more...


Rates Drop Across the Board   Mortgage rates fell this week, with the average interest rate on a 30-year loan dropping to its lowest level in six weeks. read more...


Lenders introduce 50-year mortgage (Detroit Free Press)  People who are struggling to afford a home might be wondering how long their mortgage payments could be stretched out. The new answer: a half-century. A handful of lenders have


Elbert: Only long-term determines the good, bad buys  Meredith Corp. and MidAmerican Energy Holdings Co. - are making major acquisitions.via


First Quarter State Resales 05  Receive customized news and, for REALTORS , full site access. Purchase products from REALTOR VIP Alliance Partners and leverage NAR's group buying power.via

May 3rd, 2007

UBS to shut hedge fund unit after mortgage market losses (Boston Globe)

LONDON UBS AG , the world’s biggest asset manager, is winding down John Costas’s hedge-fund unit after 11 months of trading and returning client money because of losses attributed to the US mortgage market.

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