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Latest Refinance Problem Credit news:

Face of subprime crisis is in Altoona, Pa., and beyond
Some studies say 90% of borrowers were homeowners who got in too deep, not speculators looking for easy cash.
Read more News Source - Minneapolis-St. Paul Star Tribune
Publish date - 21:17:05 07/05/08

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In the world of home foreclosure, you can bank on damage
When Bob Steele, owner of Passport Realty in Mount Vernon, heads out to deliver a foreclosure notice, he always takes along a can of mace and a nightstick. He says you can't be too careful.
Read more News Source - Baltimore Examiner
Publish date - 18:51:04 07/05/08

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Bitter lessons learned from refinancing

Read more News Source - Los Angeles Times
Publish date - 05:11:26 07/05/08

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Dream deal comes back to bite no-money-down homebuyer
Buyers who put no money down to buy their property are finding they have no equity to draw on as housing values tumble.
Read more News Source - Seattle Times
Publish date - 09:16:52 07/05/08

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Subprime crisis is hard to pin on greedy buyers
WASHINGTON — Vicki Miller bought her childhood home in Altoona, Pa., from her mother's estate for $32,000, using a nice, traditional mortgage from the local savings and loan.
Read more News Source - The Tennessean
Publish date - 08:22:08 07/05/08

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Color of Money Book Club

Read more News Source - Washington Post
Publish date - 20:45:17 07/05/08

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Namibia: Storm Warning! Whether It's Dust Or Hail, It's a Storm
Do not believe analysts who claim the worst of the world's financial crisis is over. It is not. The worst is yet to come. I get the impression those analytical reports that say we can now take a breather say so only because they don't know the full extent of the damage.
Read more News Source - AllAfrica.com
Publish date - 16:36:10 07/04/08

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Storm Warning! Whether it’s dust or hail, it’s a storm Do not believe analysts who claim the worst of the world’s financial crisis is over. It is not. The worst is yet to come.
Read more News Source - Namibia Economist
Publish date - 13:10:24 07/04/08

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CIT shares jump on deal to shed mortgage assets
CIT Group Inc said on Tuesday it agreed to sell nearly $10 billion of mortgage assets, in a deal that removes problem loans from the commercial lender's balance sheet and lifted its shares 14 percent in premarket trading.
Read more News Source - Reuters via Yahoo! News
Publish date - 13:18:26 07/01/08

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Kenya: In the Grip of Inflation And Stagnation
It is about a year since I started writing this column and since then I have witnessed Kenya and the rest of the world struggle under enormous political, economic and financial problems.
Read more News Source - AllAfrica.com
Publish date - 20:51:06 07/03/08

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CIT shares jump on deal to shed mortgage assets
NEW YORK (Reuters) - CIT Group Inc (CIT.N) said on Tuesday it agreed to sell nearly $10 billion of mortgage assets, in a deal that removes problem loans from the commercial lender's balance sheet and lifted its shares 14 percent in premarket trading.
Read more News Source - Washington Post
Publish date - 15:37:08 07/05/08

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Personal Finance Daily: You may want to bail on your adjustable mortgage
The Federal Reserve has sent a pretty clear signal to the markets that it stands ready to push interest rates higher to fight inflation. If you are a homeowner with an adjustable-rate mortgage, you can pretty much interpret that as well as a signal to jump into a fixed-rate loan as quickly as you can.
Read more News Source - Market Watch
Publish date - 18:09:52 07/02/08

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CIT to shed $10-billion in mortgage assets
Deal will remove problem loans from the balance sheet
Read more News Source - The Globe and Mail
Publish date - 13:24:58 07/01/08

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Peak likely this summer in resetting ARM loans
The number of homeowners facing an increase in their subprime adjustable-rate mortgage payments is peaking this summer, testing the efforts of lenders and others to keep those people out of foreclosure and to stabilize the housing market.
Read more News Source - Philly.com
Publish date - 08:21:18 07/02/08

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D.C. ranks high for increase in mortgage payments
Would-be homebuyers are seeing their potential monthly mortgage payments creeping upward even though median home prices are holding steady inside the Beltway and dropping in farther-out areas.
Read more News Source - The Washington Examiner
Publish date - 12:39:47 07/02/08

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Reeling economy forces more into credit card debt
Where will the money come from?
Read more News Source - AM New York
Publish date - 00:56:02 06/30/08

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Credit card debt for essentials piling up
LI consumers are turning to plastic for help paying for gas, food and other bills; many barely making minimum payments
Read more News Source - Newsday
Publish date - 11:43:32 06/30/08

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