Headline News Archive

2008

October

26

• Crises help create a teachable moment. Unemployment is rising. The stock market is setting all sorts of records - mostly bad. And the economy might be headed into a prolonged recession.…

• Stay out of debt in rollercoaster economy. In the face of an unpredictable economy, can you withstand a fiscal crisis? Here are four steps to take to protect your household from falling…

25

• Trying for a bigger tax credit. Reluctant potential home buyers could be in line for some additional tax and financing enticements, either through a post-election lame duck congressional session or from…

24

• 4 programs to help troubled homeowners. Assistance is growing to help financially distressed homeowners, but the nation's mounting caseload of foreclosures and mortgage delinquencies is rising faster. The Bush administration should…

• California law puts brakes on home defaults. The number of people losing their homes in California hit a record high of nearly 80,000 in the last three months, but a new state…

• Countrywide mortgage rates may be slashed. With calls growing for stronger action to help troubled homeowners, consumer advocates are hailing a mortgage-modification program being implemented by Bank of America Corp.'s Countrywide…

• Treasury may help homeowners. The federal government may start guaranteeing home mortgages to persuade lenders to ease the monthly financial burden on struggling homeowners, Federal Deposit Insurance Corp. Chairman…

23

• Credit rating agency heads grilled by lawmakers. Conflicts of interest were largely responsible for the disastrous performance of credit rating agencies in assessing the risks of mortgage-backed securities, two former high-ranking officials…

22

• Banks mine data and woo troubled borrowers. Brenda Jerez hardly seems like the kind of person lenders would fight over. For months after she emerged from insolvency last fall, 6 to 10…

• Public likely to pay for rising personal bankruptcies. Matthew Shelbourn knows money. The 27-year-old Cerritos resident studied accounting as an undergrad at USC and kicked around various jobs in the financial sector before…

• Lenders help more homeowners avoid foreclosure. The deep economic crisis has more lenders willing to change mortgages or repayment schedules for homeowners at risk of default, to stem their potential losses…

21

• Second stimulus plan gains traction. An effort to boost the economy with a massive injection of public funds gained momentum yesterday, as Federal Reserve Chairman Ben S. Bernanke tentatively endorsed…

20

• Mortgage market remains intact. Everybody knows how severe and painful the global financial breakdown has been, with banks unwilling to lend even to other banks. But what about mortgages…

19

• Fixing common money mistakes. Everybody makes mistakes. But when it comes to money, even little errors can prove devastating. Bruce McClary, communications director for Clearpoint Financial Solutions, recalls a…

• With HOPE for Homeowners, you'll pay in long run. For homeowners trying to renegotiate their loans under the government's new HOPE for Homeowners program, please read the paperwork carefully - because once again, you'll…

17

• Bailout pushes mortgage rates up. A recent jump in mortgage rates could jeopardize any turn-around in the housing market as home buyers face steeper loan costs. The average interest rate…

16

• Lawmakers consider regulatory overhaul. As the nation's financial system continues to unravel, lawmakers on both sides of the aisle say the U.S. government appears poised to enact sweeping changes…

14

• Large, new stimulus package considered. With fears rising that the nation stands on the precipice of a prolonged recession, House Democrats are contemplating a huge infusion of public cash --…

• Both sides of the aisle see more regulation. For 30 years, the nation’s political system has been tilted in favor of business deregulation and against new rules. But that is about to change,…

• $250 billion bank investment plan. President George Bush said this morning that the administration's "unprecedented and aggressive" plan to partly nationalize nine major banks was an "essential short term measure…

13

• Consigue una modificación del préstamo. Addie Polk no quiso abrirle la puerta a la policía que venía a desalojarla. Hacía meses que no podía pagar la hipoteca que había financiado…

12

• Bailout has tax breaks for us. The mega-bailout package for Wall Street also contains about $150 billion in tax breaks for the rest of us. Some are new, but many are…

• CRA blame game gets nasty when it targets poor. I was raised by a grandmother who had to assign blame when anything went wrong. For Big Mama, there were never any accidents. When I…

11

• Consignment sales rise as economy falters. Patricia Ohlemiller packed up her Edmund Scientific Astroscan telescope last week and headed to the Gaithersburg iSold It eBay drop-off center. She hoped to recoup…

10

• Tidal wave of foreclosures and bankruptcy reform. A wave of foreclosures will crest next year, forcing the new Congress to take up bankruptcy reform in 2009. At issue is a provision that…