By E. Scott Reckard and Ronald D. White (Los Angeles Times) - Mortgage defaults soar to record 13% in the second quarter, the number of homeowners behind on payments or in foreclosure rose along with the jobless rate, with California among states leading the way. Widespread joblessness is causing more Americans to fall behind on their [...]
By Ben Rooney (CNNMoney.com) — Consumers struggling with credit card debt will start to see some relief Thursday as the first steps of the Obama administration’s industry overhaul go into effect. Read Article.
By Brian Louis (Bloomberg) — Mortgage rates for 30-year fixed loans fell this week to the lowest since May, reducing borrowing costs for hesitant buyers as signs show the recession-plagued U.S. housing market may be bottoming. Read article.
By Colin Barr (Fortune) - Texas bank hit by California dreaming. Bank regulators have a Texas-sized problem on their hands — though it’s easy to see much of the trouble resides farther west. Read article.
By Simon Johnson (The New York times) - The quick way to talk about how any economy is doing is in terms of “growth.” This is just what it sounds like — a measure of how much the total value of production in a country has increased in the last month, quarter or year. Read article.
By E. Scott Reckard (Los Angeles Times) - A borrower accuses Wells Fargo of slashing credit lines based on flawed automated software that exaggerated declines in property values. He seeks class-action status for the suit. Read article.
By GRETCHEN MORGENSON (New York Times) – A federal judge in Manhattan has rejected an argument by Countrywide Financial seeking certain protections from investor lawsuits under new legislation intended to encourage modifications of home loans. Read article.
RISMEDIA, August 20, 2009-TransUnion.com released the results of its analysis of trends in the mortgage industry for the second quarter of 2009 and the associated impact on the U.S. consumer. Read article.
Do you have anything more valuable than the things that you own? Perhaps an overlooked asset for many is FAMILY.
Philip Moeller (US News) -“What are the things to consider when choosing a financial adviser? Read Article.