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Personal Finance News
Fed and other agencies to join U.S. fraud task force
(Reuters)
6 Jan 2009 at 3:02pm
Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Leading Democrat offers mortgage aid bill
(Reuters)
6 Jan 2009 at 2:29pm
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
Madoff scandal, SEC role under scrutiny
(AP)
6 Jan 2009 at 7:55am
AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.
British house prices sink by record amount in 2008
(AP)
6 Jan 2009 at 6:38am
AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.
NY Fed begins purchasing mortgage securities
(AP)
5 Jan 2009 at 11:58am
AP - The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.
Estate Planning in a Down Market
(BusinessWeek Online)
5 Jan 2009 at 5:08am
BusinessWeek Online - When times are tough, people tend to hold on to what they have that much more tightly. But for those who can get beyond that psychological response, there's a silver lining in today's combination of depressed asset values and low interest rates: Transferring assets to the next generation has rarely been less costly.
Private equity group buying IndyMac assets
(Reuters)
2 Jan 2009 at 4:47pm
Reuters - The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers Co, which are putting up $1.3 billion in cash.
Plan B for retirees who counted on home equity
(AP)
2 Jan 2009 at 11:01am
AP - The safety net is almost gone, the nest egg is cracking.
FDIC says it will sell IndyMac
(Reuters)
2 Jan 2009 at 12:46pm
Reuters - The Federal Deposit Insurance Corp, in a statement on its Website, says it signed a letter of intent to sell Indymac Federal bank operations to thrift holding company controlled by IMB Management Holdings LP.
British house prices fell at record rate in 2008
(AP)
2 Jan 2009 at 3:48am
AP - House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, stoking market expectations that the Bank of England will cut borrowing costs further next week.
Standout 2008 fund managers staying defensive
(AP)
1 Jan 2009 at 10:38am
AP - Playing it safe paid off in 2008 for Tom Forester and David Ellison, two standout mutual fund managers in a year when winning meant losing less money than the competition.
Wells Fargo completes Wachovia purchase
(Reuters)
1 Jan 2009 at 5:16am
Reuters - Wells Fargo Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans.
Street looks to '09 with relief after terrible '08
(AP)
31 Dec 2008 at 5:05pm
AP - The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year — the worst since the Great Depression, wiping out $6.9 trillion in stock market wealth. Six years of stock gains disappeared as the economy crumbled and markets crashed around the globe, shaking the confidence of professional and individual investors alike.
Mortgage rates fall to third straight record low
(AP)
31 Dec 2008 at 10:27am
AP - Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring.
Revisiting a Classic: 'Your Money or Your Life'
(AP)
31 Dec 2008 at 10:20am
AP - There are countless personal finance books that advise readers on budgeting, investing and paying down debt. Few leave the tips aside and ask you to question your relationship with money and the reasons you spend what you do.
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