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High-risk borrowers risk default / Housing market braces for possible blow from rise in subprime mortgage foreclosures (San Francisco Chronicle) As home prices in the Bay Area stagnate and sales volume plunges, the next blow to the region's housing market could come from defaults among high-risk borrowers, some experts say.
Fewer sales cut mortgage deals (Detroit News) Fewer home purchases and less refinancing pushed U.S. mortgage applications down for a second week, according to a survey by the Mortgage Bankers Association.via
Money Makeover follow-up: Wendy Reck Wendy Reck is steadily making progress, chipping away at debt. She's also saving 9 percent of her income toward retirement.read more...
Dow Plunges 400 Pts on Credit Concerns "If you're going to park money temporarily then cash I think is the way to be but I think that we're going to form a bottom. I think people are
Attorney general calls for probe in mortgage case (Miami Herald) Saying he's outraged that thousands of people with criminal histories were allowed to peddle home loans in Florida, Attorney General Bill McCollum called for an investigation into the state agency
Fannie, Freddie mortgage caps rise (Denver Post) The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market.read more...