Mortgage and Financial News From 2008-3-22 Page 01

Previous Day: 2008-03-21

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• How to keep your credit rating healthy (Wisconsin State Journal)

  Banks are shaky. Bonds are suffering cuts in their credit ratings. Even bond insurers are hurting. Next up for a downgrade: people. As the economy sputters and the housing market slumps, folks are struggling to pay their bills, and growing numbers are seeing their credit scores tumble. The result: Among Americans with credit histories, maybe a fifth are now akin to walking junk bonds, with ...
  2008-03-22 10:45:53

• Home mortgage standards getting tougher in Wisconsin (Wisconsin State Journal)

  Mounting foreclosures and the subprime mortgage crisis have contributed to a national credit crunch, making it more difficult for borrowers to qualify for a mortgage loan. Standards for home mortgages also are getting tougher in Wisconsin, especially for loans that banks pass on to national mortgage wholesalers. Recent changes in Wisconsin lending standards include: The minimum FICO credit score ...
  2008-03-22 10:46:33

• Safeguards eased as lure of subprime profits grew (Houston Chronicle)

  Freelance financial watchdogs who examined the paperwork on subprime home loans had an inside view. The reviewers say they raised plenty of red flags, but the problems were ignored.
  2008-03-22 10:51:13

• Weak dollar has had strong grip on oil (Houston Chronicle)

  The dollar goes down and oil goes up as interest rate cuts send investors to commodities. But last week, both switched directions slightly.
  2008-03-22 10:51:44

• Market crunch hinders new housing (New Orleans Times-Picayune)

  Volunteers of America couldn't be more excited that its first affordable housing project in New Orleans since the storm, The Terraces on Tulane senior apartments, is scheduled to begin construction next month.
  2008-03-22 10:53:53

• It's a rotten time for finding a job (Pittsburgh Tribune-Review)

  As closely watched federal monthly jobs numbers have shown, it's getting harder to find work, especially for people in financial services, a sector that has been shedding jobs for months as the extent of the subprime mortgage crisis widens.
  2008-03-22 09:29:21

• Commentary: What about the rest of us? Bailout fails to help the little guy (Pittsburgh Post-Gazette)

  The stock market crash of 1929 exposed Wall Street's excesses and helped cause the "Great Depression." The term "banksters" was born. ...
  2008-03-22 09:29:26

• Subprime loan watchdogs put on a leash (Pittsburgh Tribune-Review)

  Red flags raised by mortgage checkers were ignored, many say
  2008-03-22 09:29:34

• Business briefs (Centre Daily Times)

  Mo Valley group sets focus for new year
  2008-03-22 09:37:47

• A Bright Spot for Housing Investors? (NYTimes.com via Yahoo! Finance)

  Falling prices, tighter credit and rising foreclosures have taken their toll on the housing market, but multifamily rentals actually benefit from these economic woes.
  2008-03-22 09:40:00

• You Say Recession, I Say ‘Reservations!’ (NYTimes.com via Yahoo! Finance)

  As Wall Street stumbles, many in the middle class are hoping for cheaper apartments, less crowded restaurants, more respect. They should be careful what they wish for.
  2008-03-22 09:40:01

• Tax Rebates Can Make You Money (BellaOnline)

  Many Americans will be receiving Tax Stimulus Rebates this spring. Your Tax Rebate is an excellent wealth-building opportunity to save, invest and maybe even make some extra money. Let's look at some wealth-building suggestions for that rebate money.
  2008-03-22 05:08:07

• Whatever the Bank does, will it be enough? (Guardian Unlimited)

  The scramble for funds suggests worse is to come, says Heather Connon
  2008-03-22 05:19:22

• The Number: 35% rise in people seeking mortgage-debt advice (Independent)

  There has been a sharp increase in the ranks of borrowers seeking help with their mortgage debts. Citizens Advice says the number of people coming into its bureaux asking for guidance was up 35 per cent to 215,000 year-on-year during January and February. "It is a worrying trend that our bureaux are reporting very sharp rises in the number of mortgage0arrears problems they are dealing with," ...
  2008-03-22 05:26:45

• Pleas for mortgage help surges by a third as debt fears grow (The Scotsman: Business)

  DEBT problems are surging according to Citizens Advice, which has reported that the number of people appealing for help with mortgage arrears in January and February was more
  2008-03-22 05:27:06

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