Credit-rating agency reviews ratings of mortgage insurers (Winston-Salem Journal) NEW YORK - Moody's Investors Service, a credit-rating agency, is reviewing the ratings of several local mortgage insurers and has placed negative outlooks on others.read more...
Investec rescues mortgage lender Kensington (Times Online Sunday) Investec, the South Africa bank, has agreed to rescue Kensington, the troubled sub-prime mortgage lender, which admitted today it is no longer able to raise financing to support its business.read
Thornburg Mortgage begins stock exchange offer (AP via Yahoo! Finance) Mortgage lender Thornburg Mortgage Inc. on Wednesday began an exchange offer for four classes of its preferred stock, as part of its efforts to remain in business.read more...
U.S. Consumers Face Epidemic of Debt You owe $145,000. And the bill is rising every day. That's ... A new Associated Press/Ipsos poll finds that barely one third would cut spending to reduce the federal deficit and even fewer would raise taxes.read more...
Rates on 30-year mortgages decline after six straight weekly increases Rates on 30-year mortgages declined for a second straight week as low mortgages continued to fuel the country's housing boom.read more...
Bankruptcy: a Drastic Step but Sometimes the Wisest One John Ventura is on a mission to inform consumers about their credit, debt and rights in a bankruptcy.
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“This means treating borrowers in arrears fairly and sympathetically, and being willing to negotiate with borrowers in trouble”
Lenders have come under pressure to do more for struggling homeowners after the number of people threatened with losing their homes rose to its highest level for 16 years. via Hereford Times
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