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    Personal Finance Headlines
    Nevada, Michigan, Florida lead 'underwater' list (AP)

    Maria Martinez stands in front of her home Wednesday, Oct. 22, 2008, in Stockton, Calif.  John McCain and Barack Obama both say they want to lend a hand to homeowners struggling to pay their mortgages, and not just assist teetering Wall Street banks. To do so, they face the daunting task of trying to figure out a way to help people like Martinez of Stockton, Calif, who is three months behind on her mortgage even after receiving a loan modification earlier this year. (AP Photo/Ben Margot)AP - Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth.


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    Fri, 31 Oct 2008 06:24:45 GMT - Yahoo! News: Personal Finance News
    Life Insurance Trusts and You (The Motley Fool)
    The Motley Fool - Trusts are impressively flexible, offering many ways for people to use them. Revocable trusts can encompass many people's entire estate-planning needs in a single document. On the other hand, professionals have tailored some types of trusts to fit very specific situations and types of assets. The life insurance trust, primarily designed to hold life insurance policies, is a prime example. -- read full article
    Wed, 29 Oct 2008 19:08:13 GMT - Yahoo! News: Personal Finance News
    Ex-Fannie Mae chief wishes he said "no" more often: report (Reuters)

    Daniel Mudd, former President and CEO of Fannie Mae, speaks on a panel of experts at a national housing summit held by the Office of Thrift Supervision in Washington December 3, 2007. (Jonathan Ernst/Reuters)Reuters - Former Fannie Mae Chief Executive Daniel Mudd wished he said "no" to more of the things the company was asked to do, he told the Wall Street Journal in an interview.


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    Thu, 30 Oct 2008 05:29:05 GMT - Yahoo! News: Personal Finance News
    Bank of China books 3.8 billion dollars in investment losses (AFP)

    A branch of the Bank of China on Shanghai's historic Bund on October 24. The lender has said it had posted 26.3 billion yuan (US$3.8 billion) in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.(AFP/File/Mark Ralston)AFP - Bank of China said it had posted 26.3 billion yuan (3.8 billion dollars) in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.


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    Thu, 30 Oct 2008 08:06:13 GMT - Yahoo! News: Personal Finance News
    GMAC seeks bank status for rescue funding: report (Reuters)

    A five-bedroom and two-bath home for sale in Detroit in a 2007 photo. (Rebecca Cook/Reuters)Reuters - GMAC, the auto finance and mortgage company, is seeking to become a bank holding company in order to access the government's $700 billion financial rescue plan, the Wall Street Journal reported on Tuesday.


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    Wed, 29 Oct 2008 13:52:02 GMT - Yahoo! News: Personal Finance News
    Estate Planning: Trusts (The Motley Fool)
    The Motley Fool - Trusts were first used in medieval England, and they have evolved to serve many purposes in modern law. The essential attribute of a trust is that it divides ownership of property into two pieces. One person, the trustee, holds the legal aspects of ownership and may control and take responsibility for the property. Another person, the beneficiary, holds the sole right to enjoyment of the property. -- read full article
    Wed, 29 Oct 2008 14:14:54 GMT - Yahoo! News: Personal Finance News
    Estate Planning: Wills (The Motley Fool)
    The Motley Fool - Since at least the time of the Roman Empire, wills have been used to ensure the orderly transfer of property from generation to generation. While the popular image of making a will often involves someone in a grave situation -- on the eve of battle, perhaps, or suffering from a terminal illness -- wills can be drawn up at any time, and they do provide a good way for people to state their wishes regarding who should receive their property after their death. -- read full article
    Wed, 29 Oct 2008 14:15:27 GMT - Yahoo! News: Personal Finance News
    O'Neill: No more mortgages without down payment (AP)
    AP - President Bush's first treasury secretary says Congress should scrap plans for a new economic stimulus package and instead require that no future home mortgage be awarded without a 20 percent down payment. -- read full article
    Tue, 28 Oct 2008 21:39:07 GMT - Yahoo! News: Personal Finance News
    Car dealers hit by sales decline, weak economy (Reuters)

    New Vauxhall cars stand outside the company's factory in Ellesmere Port, northern England, October 27, 2008. (Phil Noble/Reuters)Reuters - Auto retailers swung to quarterly losses in the third quarter, beaten down by the decline in U.S. car sales, tight consumer credit, and a weakening U.S. economy as well as hurricane-related damages.


    -- read full article
    Tue, 28 Oct 2008 22:09:37 GMT - Yahoo! News: Personal Finance News
    GMAC cleared to join Fed commercial paper plan (Reuters)
    Reuters - GMAC LLC, the auto and mortgage finance company, on Tuesday said it had been approved to use the commercial paper funding facility created earlier this month by the U.S. Federal Reserve with the aim of easing pressure on the corporate credit market. -- read full article
    Tue, 28 Oct 2008 22:49:42 GMT - Yahoo! News: Personal Finance News
    GMAC seeks bank status for rescue funding: report (Reuters)
    Reuters - GMAC, the auto finance and mortgage company, is seeking to become a bank holding company in order to access the government's $700 billion financial rescue plan, the Wall Street Journal reported on Tuesday. -- read full article
    Wed, 29 Oct 2008 06:37:43 GMT - Yahoo! News: Personal Finance News
    Election 2008: Obama on the Economic Issues (BusinessWeek Online)
    BusinessWeek Online - -- Income Taxes: Senator Barack Obama (D-Ill.) would hold most income tax rates steady, making permanent the Bush tax cuts for the vast majority of individual taxpayers. With those cuts scheduled to expire in 2011, he would allow rates for households making more than $250,000 (or individuals making more than roughly $200,000) to return to earlier levels. Earners who now pay today's maximum 35% rate would see their top marginal rate go back to the 36.9% in effect in the Clinton years, for example. -- read full article
    Tue, 28 Oct 2008 12:08:43 GMT - Yahoo! News: Personal Finance News
    Car dealers hit by sales decline, weak economy (Reuters)

    New Vauxhall cars stand outside the company's factory in Ellesmere Port, northern England, October 27, 2008. (Phil Noble/Reuters)Reuters - Auto retailers swung to a quarterly loss in the third quarter, beaten down by the decline in U.S. car sales, tight consumer credit, and a weakening U.S. economy as well as hurricane-related damages.


    -- read full article
    Tue, 28 Oct 2008 17:42:22 GMT - Yahoo! News: Personal Finance News
    Uses for $700 billion bailout money ever shifting (AP)
    AP - First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets. -- read full article
    Sat, 25 Oct 2008 14:53:19 GMT - Yahoo! News: Personal Finance News
    Treasury mulls insurer aid program: sources (Reuters)

    U.S. Secretary of Treasury Henry Paulson (R) leaves the New York Stock Exchange October 21, 2008. (Shannon Stapleton/Reuters)Reuters - The U.S. Treasury Department is studying how it could give relief to insurance companies under a $700 billion financial services rescue package, two sources familiar with the deliberations said on Friday.


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    Fri, 24 Oct 2008 21:41:18 GMT - Yahoo! News: Personal Finance News
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