Mortgage Debt Consolidation

As fears grow of another crash in the property market, some of those who had their homes repossessed in the last housing slump are still suffering the consequences.

Long Island: a third of state subprime foreclosures
Long Island: a third of state subprime foreclosures - NewsdayLong Island: a third of state subprime foreclosuresNewsday, NY - 9 hours agoLong Island’s one-third foreclosure rate equates to 12936 subprime loans, the report said. At the same time, Long Island has 30 percent of all subprime …Source: news.google.comSwift Steps Help Avert Foreclosures in Baltimore - New York TimesSwift Steps Help Avert Foreclosures in BaltimoreNew York Times, United States - 22 hours agoIn the foreclosure crisi

300,000 Australian Households at Risk of Losing Their Homes
Tonight at 8:30 on ABC1 you can watch a program called “Debtland.” We haven’t seen it ourselves. But the blurb on the ABC website puts it this way, “Mortgages doled out to people on disability support pensions; loans to refugees with no English and no jobs that leave their families with next to nothing to live on; home loans so large they push borrowers below the poverty line This isn’t America’s sub-prime meltdown - it’s Australia’s debt debacle, the legacy of a credit binge that’s sent househ

City workshop helps you fight foreclosure (Boston Herald)
Boston homeowners who risk home foreclosure because of mounting mortgage debt will meet face-to-face today with their lenders about qualifying for new loans they can actually…

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There’s always a little pain involved in wading through the U.S. tax code. Yet you can ease the dull ache of dealing with Internal Revenue Service forms and language when you find provisions that will lower your bill. There are plenty of plums and pits in this year’s everchanging version of tax write-offs. Some deductions are designed to pump up the flagging U.S. economy, while others are meant …

Debt time bomb over repossessions (BBC News)
As fears grow of another crash in the property market, some of those who had their homes repossessed in the last housing slump are still suffering the consequences.

Free-market thinking takes hit from US economic crisis (AFP via Yahoo! News)
A deepening economic crisis has led to unprecedented actions by US policymakers that raise questions about how far government regulation should go in a free-market economy, analysts say.

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just what can the federal reserve do..?..(if they bail-out the mortgage market..they ll kill the dollar..) March 27th, 2008 ..If the United States bails out the financial system by buying mortgage debt directly, the price just might be surging inflation and a dollar crisis. Calls are increasing for the government, either directly or via the Federal Reserve, to cut the knot of the credit crisis at a stroke by buying up mortgages that banks and investment banks are finding difficult to fina

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I’ve been railing against both the credit card industry and the bankruptcy “reform” act for years now. Here’s, in relevant part, what I said in March 2005 (in a blog comment, along with a variety of less temperate things): Third, how about abusive practices as to consumers as well as to the democracy? The fact that the credit card companies DELIBERATELY TARGET THE FINANCIALLY UNSOPHISTICATED — as can be seen most dramatically by setting foot on most any college campus (especially large state

Will Falling House Prices, Sink The Pound?
New Zealand Dollar: Decline to Accelerate Trading News Reports Thursday, 27 March 2008 22:01:42 GMT Will Falling House Prices, Sink The Pound? Dynamic Carry Trade Basket Wednesday, 26 March 2008 21:16:48 GMT

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The firm’s top economist says Uncle Sam should buy Wall Street’s bad mortgage debt.

Troubled homeowners will get a tax break (Milwaukee Journal Sentinel)
Homeowners who went through a foreclosure or got a deal for working out their mortgage debt should pay attention to a…

Senate Bill Helps Calif. Homeowners (AP via Yahoo! Finance)
The state Senate has approved a bill to help California homeowners whose lenders have forgiven part of their mortgage debt.

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New Zealand Dollar: Decline to Accelerate Trading News Reports Thursday, 27 March 2008 22:01:42 GMT Will Falling House Prices, Sink The Pound? Dynamic Carry Trade Basket Wednesday, 26 March 2008 21:16:48 GMT

790s Credit Score Barely Enough In Today s Loan Market?
Here’s a guest post from Can I Get Rich On A Salary. Banks are falling, the Fed is jumping in aggressively, and the bigger players are acquiring the most distressed ones for pennies on the dollar. And the rumor went something like this: some lending institutions are going to start pulling home-equity lines of credit (HELOCs). I understood this to mean not letting people draw down on their existing equity lines. It s just a rumor, though it was passed on to me by a mortgage broker. As rumors a

Unwinding
Earthside Comments: Last week the central government and the Federal Reserve wound-up the financial markets as tight as they could. They poured hundreds of billions of dollars into investments banks, they cut interest rates, they pounded down precious metals and commodities, everything they could think of to keep the economic clock from springing apart. But, already we are beginning to see the unwinding. There is so much debt everywhere that nothing can rescue this economy except collapse, wri

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Even before the recent economic mudslide, the inbox for my regular online chat filled up with questions from people wondering how to get out of debt or seeking assurances that they weren’t the crazy ones in trying to pay off loans aggressively.

Wall Street drives White House campaign cash flow (Washington Post)
WASHINGTON (Reuters) - Eight of the 10 largest donors so far to the U.S. presidential campaigns are Wall Street banks, led by Goldman Sachs, according to research on Thursday from a political watchdog group.

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A daily round-up of economic news: Telecommunications company Motorola will break in half, axing off its unprofitable mobile phone business. The firm helped pioneer the mobile phone industry in the late 1970s and early 1980s, but its phone sales have plunged in recent years while other businesses–including network, television, and radio equipment–have grown. Factory orders in America fell by 1.7 percent in February, surprising economists who had anticipated an uptick. Manufacturing machinery

Financial Markets Still Struggling, Traders Bet On Another 50bp In April
Financial Markets Still Struggling, Traders Bet On Another 50bp In April The credit markets are still under considerable pressure, though investor confidence in corporate debt seems to be on the rebound. Over the past week, the Federal Reserve made another attempt at reviving confidence among borrowers and lenders to thaw the credit freeze. On the back of the announced TSLF plan and 75bp rate cut, policy makers offered their first $50 billion liquidity injection into the market and expanded th

The generation that can t afford to retire because of soaring debt
The generation that can t afford to retire because of soaring debt Posted on March 26th, 2008 (10 hours ago) by blogger Soaring levels of debt among those in their late 50s and early 60s means many will have to keep on working long after their retirement age.On average, they owe at least four times as much as people of the same age a decade ago, according to a study. The debts do not include mortgages, if they have one, only unsecured loans such as credit or store cards. In a bleak warning

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The cost of buying a home in Northern Ireland is escalating fast with mortgage debt rising faster than anywhere else in the UK. The news comes as the property market begins to feel the full effects o..

Despite Thunderclouds in the United States, Business Confidence Is Up in Europe (NYTimes.com via Yahoo! Finance)
Few officials or economists expect Europe to escape the effects of a downturn in the United States, but Europe s broader economy is demonstrating startling resilience.

Mortgage aid plan sees role for Fannie, Freddie (Reuters via Yahoo! News)
Fannie Mae and Freddie Mac would have to meet new goals to invest in troubled loans and erase some mortgage debt for borrowers facing foreclosure under legislation contemplated by a leading Democratic lawmaker.

Infonavit Reschedules Mortgage Debt Sale on Pension Fund Rules (Bloomberg.com)
March 25 (Bloomberg) — Infonavit, Mexico’s housing agency, delayed the sale of as much as 3 billion pesos ($280 million) of mortgage debt on concern that demand may be reduced as pension funds are allowed to invest more in stocks and bonds.

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The state Senate has approved a bill to help California homeowners whose lenders have forgiven part of their mortgage debt.

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