Mortgage Debt Consolidation

SYDNEY, May 7 (Reuters) - Australia’s smaller mortgage lenders, desperate for funding amid the global credit squeeze, want the government to ride to the rescue by buying illiquid mortgage debt. But analysts doubt the idea will gain traction.

AIG posts record loss on bad debt (BBC News)
Insurance giant AIG posts its biggest ever quarterly loss due to its continuing exposure to bad US mortgage debt.

Longer mortgages are gaining ground (Cochrane Times)
Outstanding residential mortgage debt in Canada last year set a record for growth, increasing by $94 billion, or nearly 15 per cent since 2005.

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