Mortgage crisis could damp consumer consumption for years to come

Mortgage crisis could damp consumer consumption for years to come
Borrowers who defaulted could have low credit scores for years, crimping their spending. And changes in scoring and how it’s applied could dramatically affect all Americans’ ability to borrow. For countless Americans struggling to make their mortgage payments, the problems have just begun.
Read more on Los [...]

Bear Stearns: Nothing we could do to stop failure

Bear Stearns: Nothing we could do to stop failure
There was nothing that Bear Stearns could have done that could have prevented the company’s collapse in March 2008, a key Bear Stearns official tells a financial crisis watchdog.
Read more on Market Watch

Home equity loan refinance could be costly

Home equity loan refinance could be costly
Refinancing a home equity loan to a first mortgage will add a lot more in total interest expense.
Read more on Bankrate.com via Yahoo! Finance

Flying blind on mortgage terms, fees could cost dearly

Flying blind on mortgage terms, fees could cost dearly
WASHINGTON — If you plan to take out a mortgage or refinance anytime soon, you might want to hear this blunt message from federal officials: Don’t fly blind.
Read more on Seattle Times

Mortgage Principal Reduction: Why “Re-Equifying” Borrowers Could Exacerbate The Mortgage Mess

Mortgage Principal Reduction: Why “Re-Equifying” Borrowers Could Exacerbate The Mortgage Mess
What’s Your Reaction? Many critics of the Obama administration’s mortgage loan-modification program say it won’t work because it doesn’t do enough to address “negative equity,” the plight of people who owe more on their home loans than the current value of those properties.
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PIBA warns mortgage holders that lenders could increase interest rates

PIBA warns mortgage holders that lenders could increase interest rates
ONE of the country’s largest insurance and mortgage industry representatives has warned consumers that a low European Central Bank (ECB) interest rate will provide no barrier to Irish-based lenders increasing their own rates.
Read more on Irish Examiner

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