Encouraging signs in a credit crunch (The Christian Science Monitor)
The early creators of the automated underwriting systems felt that, if someone could go to a Mercedes dealership at 10 am and drive off the showroom floor an hour later with a $100,000 car (still more expensive than homes are in many parts of the country), they ought to be able to obtain a home loan the same way. The logic in this should be obvious... after all, cars are rolling stock, so they can disappear, they depreciate and usually people don't live in them. Houses are attached to a foundation, they usually appreciate and people usually live in them. Using that logic, the industry should be able to make the home buying process easier for everyone.
Encouraging signs in a credit crunch (The Christian Science Monitor)
Better yields on Treasury bills and a lack of 'blowups' recently give investors encouragement.
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Analysts mull contagion from US property market woes (AFP via Yahoo! News)
An increasingly fragile US economy is facing growing risks from the meltdown in the property market, which threatens to spill over into other sectors as credit markets freeze, analysts say.
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Easy-money bills come due (The Palm Beach Post)
For most of this decade, buyers of homes and businesses enjoyed "easy" credit, allowing them to get low-interest loans with few questions asked.
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Brent Sheather: Credit market fires spread to NZ (The New Zealand Herald)
Apparently one of the key benefits of the new global credit derivatives market is that the cost of credit is lowered as risk is spread more widely among investors.
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2 years later, New Orleans a mix of good and bad (Deseret Morning News)
It is hurricane anniversary season in New Orleans, and the beleaguered city is threatened with a new inundation: a tidal wave of reports, assessments, stock-takings, prognostications and tongue-lashings.
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Wall Street ponders whether storm has passed (AFP via Yahoo! News)
Wall Street found its footing over the past week after the market's drubbing earlier this month, as investors pondered whether the storm over housing and a related credit squeeze was over.
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Excerpt from 'Letter From Point Clear' (The Charlotte Observer)
Excerpt from "Letter From Point Clear," by Dennis McFarland (Henry Holt; $25). Chapter One First, Ellen's letter to Willie: My sweet guy, I hope everything's continuing to go well for you and that you had a great Fourth. You can tell me all about it when we talk Tuesday night. I'll be by the phone at 9:45, so if your plans change, get your counselor to call me and let me know the new time. ...
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Bears still undefeated in preseason (Detroit News)
CHICAGO -- Rex Grossman showed his good and bad sides.
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Crooks always cooking up new ways to rip you off (Pittsburgh Post-Gazette)
So, you're a smart consumer who has managed to steer clear of many frauds that cost Americans billions of dollars a year....
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After Two Years, a Tangled Mix of Good and Bad (New York Times)
As the anniversary of Hurricane Katrina approaches, a tidal wave of reports, assessments, stock-takings, prognostications and tongue-lashings is closing in on New Orleans.
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Encouraging signs in a credit crunch (The Christian Science Monitor)
These are more difficult because creditors keep these types of accounts in their current files and they are expecting you to pay them. That is why it will be much easier for them to verify the information and keep the item on your credit file. However, it is always worth a try.
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Moody's reduces Beazer rating (The Tennessean)
Seeking Direction (The Sun Post)