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• The cost of credit seizure (Asia Times)
9 Jun 2008 at 3:59am
I've been eagerly awaiting the first-quarter 2008 Federal Reserve "flow of funds" credit report. In particular, I have been keen to explore two key first quarter dynamics. First, Q1 was historic for the breakdown in Wall Street finance and the freezing up of most securitization markets.
• Home by home, crisis engulfs nation (Dayton Daily News)
7 Jun 2008 at 10:15pm
When the bank foreclosed on A.D. and Naomi Thomas in 2005, signs of the nation's home mortgage meltdown were growing blips on the nation's radar, noticeable mostly in places like Montgomery County, where trouble came early and hard.
• Stubborn mortgage rates defy conventional wisdom (Chicago Tribune)
7 Jun 2008 at 6:30am
The Federal Reserve has aggressively cut interest rates. Houses are sitting around unsold. The stage appears to be set for mortgage rates to fall as lenders compete to attract that scarce quarry: the well-qualified home buyer.
• About 1 in 11 U.S. home loans are past due or in foreclosure (International H...
6 Jun 2008 at 12:10pm
The first three months of 2008 marked the worst quarter for American homeowners in nearly three decades, according to a report issued by the Mortgage Bankers Association.
• Consumers face tougher time getting loans (Miami Herald)
8 Jun 2008 at 9:11pm
The credit crisis triggered by bad home loans is spreading to other areas, forcing banks to tighten credit and probably extending the credit crisis that's dragging down the economy well into next year, and perhaps beyond.
• M.J. Edwards Expands With New Funeral Home (The Memphis Daily News)
8 Jun 2008 at 10:02pm
M.J. Edwards Funeral Home Inc. has bought a vacant funeral home at 4445 Stage Road in North Memphis for $772,000 from Houston-based Service Corporatio....
• Mortgage data show 8.8% are in trouble (San Diego Union-Tribune)
6 Jun 2008 at 3:13am
About one in 11 American mortgages was past due or in foreclosure at the end of March, according to a report released yesterday, a figure that is rising fast as home prices fall and the job market weakens.
• At foreclosure risk, 300 meet lenders, counselors (Newsday)
7 Jun 2008 at 9:12pm
Maritza Perez sat down Saturday in front of a finance counselor and quickly got to the point -- if she pays her $2,800-a-month mortgage, "I cannot afford to buy meat, I cannot afford to buy milk, or gas or doctor's bills."
• Housing slump hits microbusinesses hard (Las Vegas Business Press)
9 Jun 2008 at 6:03pm
The housing slump is hitting a growing number of owners who run microbusinesses -- small, often home-based companies that employ nine or fewer workers -- doubly hard.
• Turned Down for an Auto Loan? There are Options (Elk Grove Citizen)
9 Jun 2008 at 6:21am
(ARA) - In the current climate of declining property values, higher interest rates, and changes in available mortgage products, more and more homeowners are becoming delinquent or going into foreclosure.
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