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    Personal Finance Headlines
    'Liar loans' threaten to prolong mortgage crisis (AP)

    Salvatore Fucile, 82 and his wife, Clara, pose for a photograph in the kitchen of their Springfield, Pa., home, Friday, Aug. 15, 2008. The couple wound up in an Option ARM from IndyMac after consolidating two mortgages on their suburban Philadelphia home. (AP Photo/Tom Mihalek)AP - In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets."


    -- read full article
    Mon, 18 Aug 2008 18:27:48 GMT - Yahoo! News: Personal Finance News
    AP IMPACT: Weak rules cripple appraiser oversight (AP)

    Appraiser Bob Ipock is shown in Charlotte, N.C., Wednesday, May 28, 2008. (AP Photo/Chuck Burton)AP - As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal — the real estate appraisal — was undermined from within.


    -- read full article
    Mon, 18 Aug 2008 04:05:48 GMT - Yahoo! News: Personal Finance News
    Inflated appraisal nearly cost family its home (AP)
    AP - After 25 years as a doorman on Manhattan's Upper East Side, Carl Petrone was ready to retire from the cold winters and his daily commute. -- read full article
    Sun, 17 Aug 2008 17:07:48 GMT - Yahoo! News: Personal Finance News
    Questions and answers on hiring an appraiser (AP)
    AP - Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit: -- read full article
    Sun, 17 Aug 2008 17:10:10 GMT - Yahoo! News: Personal Finance News
    AP IMPACT: Weak rules cripple appraiser oversight (AP)

    Appraiser Bob Ipock is shown in Charlotte, N.C., Wednesday, May 28, 2008. (AP Photo/Chuck Burton)AP - As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal — the real estate appraisal — was undermined from within.


    -- read full article
    Sun, 17 Aug 2008 18:11:55 GMT - Yahoo! News: Personal Finance News
    30-year mortgages remain at 6.52 percent (AP)

    A condominium is put up for sale in San Francisco, California August 14, 2008. U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report.  REUTERS/Robert Galbraith (UNITED STATES)AP - Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines.


    -- read full article
    Thu, 14 Aug 2008 21:18:45 GMT - Yahoo! News: Personal Finance News
    Getting Smarter on School Loans (BusinessWeek Online)
    BusinessWeek Online - For years, college students and their parents have relied heavily on credit cards, home equity, and private loans to pay for school, according to a recent survey provided exclusively to BusinessWeek. But those sources of cash are drying up. On Aug. 6, Wachovia joined the more than 150 financial firms that have fled the private student-loan business. And Morgan Stanley froze home-equity lines for some clients. -- read full article
    Thu, 14 Aug 2008 12:08:45 GMT - Yahoo! News: Personal Finance News
    Regulator: UBS defrauded NH student lender (AP)
    AP - New Hampshire securities regulators on Thursday accused banking giant UBS of defrauding the state's leading issuer of student loans. -- read full article
    Thu, 14 Aug 2008 17:06:09 GMT - Yahoo! News: Personal Finance News
    Credit jitters, surging oil hurt stocks (Reuters)

    Traders work on the floor of the New York Stock Exchange August 8, 2008. (Joshua Lott/Reuters)Reuters - Stocks fell on Wednesday, as persistent concerns about the credit crisis hurt bank shares while a rebound in oil prices and weak outlooks at some retailers raised anxieties about consumer spending.


    -- read full article
    Wed, 13 Aug 2008 20:43:46 GMT - Yahoo! News: Personal Finance News
    Greenspan sees house price bottom in 2009: report (Reuters)

    File photo shows former U.S. Federal Reserve chairman Alan Greenspan at the International Financial Corporation in Washington October 21, 2007. (Yuri Gripa/Reuters)Reuters - Former Federal Reserve Chairman Alan Greenspan predicts U.S. house prices will begin to stabilize in the first half of next year, even as he faulted the government's rescue of mortgage market giants Fannie Mae and Freddie Mac, the Wall Street Journal reported on Thursday.


    -- read full article
    Thu, 14 Aug 2008 07:19:56 GMT - Yahoo! News: Personal Finance News
    Credit jitters, oil hit Wall St (Reuters)

    Traders work on the floor of the New York Stock Exchange August 8, 2008. (Joshua Lott/Reuters)Reuters - U.S. stocks slid on Wednesday as financial shares sold off for a second straight day on fresh concerns about the widening impact of the mortgage crisis on the U.S. economy's outlook.


    -- read full article
    Wed, 13 Aug 2008 18:08:07 GMT - Yahoo! News: Personal Finance News
    Worries about credit losses weigh on Wall Street (Reuters)

    A trader works on the floor of the New York Stock Exchange August 8, 2008. (Joshua Lott/Reuters)Reuters - U.S. stocks fell on Tuesday, as bank shares tumbled on fresh worries about the economy and further losses stemming from the mortgage crisis.


    -- read full article
    Tue, 12 Aug 2008 20:20:11 GMT - Yahoo! News: Personal Finance News
    W.Va. AG sues Countrywide over home foreclosures (AP)
    AP - West Virginia's attorney general accuses a national mortgage lender of making risky and unconscionable loans in a lawsuit that's similar to challenges filed in several other states. -- read full article
    Tue, 12 Aug 2008 20:46:55 GMT - Yahoo! News: Personal Finance News
    JPMorgan has $1.5 bln in Q3 mortgage asset losses (Reuters)

    People walk past the JPMorgan Chase  and  Co building in New York March 17, 2008. (Chip East/Reuters)Reuters - JPMorgan Chase & Co said it has racked up $1.5 billion of losses so far this quarter on mortgage-linked assets, reflecting deepening turmoil in credit markets.


    -- read full article
    Tue, 12 Aug 2008 21:56:06 GMT - Yahoo! News: Personal Finance News
    Treasurys advance on worries about credit market (AP)
    AP - Treasury bond prices advanced Tuesday, driven by continued concern about credit losses from major Wall Street banks and uncertainty about the value of risky mortgage-backed securities. -- read full article
    Tue, 12 Aug 2008 22:09:19 GMT - Yahoo! News: Personal Finance News
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