Consequences of credit crunch are far-reaching, likely to linger - Wall Street Journal

Consequences of credit crunch are far-reaching, likely to linger Wall Street Journal - Sep 2, 2008 Even if these loans go bad, they would infect some fairly healthy bodies. Only 0.78% of Bank of Ireland's loans are in arrears. At AIB, the proportion is …

Colliding views on the economy show up in stock and credit markets (Wichita Falls Times Record News)
NEW YORK (AP) — Stock investors in recent weeks have been more willing to brush off a drumbeat of negative housing and inflation news that has cast a pall over their credit-market comrades. Who’s getting it right?

Some struggling homeowners find way to dodge foreclosure - USA Today

Some struggling homeowners find way to dodge foreclosure USA Today - 22 hours ago Lenders are willing to work out modifications, he says, because, "You can't carry too many bad loans. "If people can sit down, and we can look at them as …

En Route to a Bailout They Don't Deserve - Washington Post

En Route to a Bailout They Don't Deserve Washington Post, United States - Sep 2, 2008 That's why the best of a set of bad options might be for the government to step in and provide the Big Three with low-interest long-term loans, …

BEHIND THE MESS AT WESTINGHOUSE The grand old electric company from Pittsburgh is shorting out on bad loans made by its credit subsidiary. The crisis may deepen before it gets better. - November 4, 1991
(FORTUNE Magazine) - HOW DID A BIG DOG like Westinghouse end up getting wagged by its tail? The Pittsburgh electrical equipment giant managed despite the recession to post modest third-quarter operating profits in all its major businesses — except one. And trouble in that one, the company’s

Publication: Fortune

Tags: house, loans, credit

How housing tax credit proves good, bad news (The Oklahoman)
The housing recovery law enacted late last month included good news in the temporary $7,500 tax credit for first-time home buyers, but it also leveled a “double whammy” at a big part of the market in Oklahoma, a mortgage consultant said. That’s from the buyer’s side. On the seller’s side in the meantime, houses priced right still sell quickly, a Realtor said. Bad news for buyersCertain …

US housing keeps teetering - Globe and Mail

BBC News

US housing keeps teetering Globe and Mail, Canada - 9 hours ago There was some positive housing data yesterday, but nobody cared because investors and financial markets are bracing for bad news ahead. … Housing Crisis Truth – How We Got Here and Why It Won’t Be Over … The Cutting Edge all 853 news articles

Treasuries Climb; Report May Show Home Sales Near 10-Year Low - Bloomberg

Treasuries Climb; Report May Show Home Sales Near 10-Year Low Bloomberg - Aug 25, 2008 Losses and writedowns on securities related to home loans to people with poor credit now exceed $500 billion at financial institutions worldwide, …

Dollar Rises to Six-Month High on Bets Global Economy Slowing (Bloomberg.com)
Aug. 26 (Bloomberg) — The dollar rose to a six-month high against the euro on evidence the greenback will be the main beneficiary from a global economic slowdown as German business confidence dropped in August more than forecast.

CREDIT CRIMP UNLIKELY DUE TO BANKS’ BAD LOANS
The proliferation of bad real estate loans plaguing New England banks is unlikely to result in a general clampdown on credit that might push the region toward recession, according to several bank economists and other observers. Although banks are rapidly rediscovering fiscal conservatism on loans

Publication: The Boston Globe

Loans grow harder to get: Subprime lenders’ woes bad news for those without good credit, experts say.
Byline: Sara Kennedy Apr. 12–MANATEE — With so many subprime lenders going bankrupt or closing, it’s become harder to get loans for those with less-than-perfect credit, local mortgage brokers say. They still have options but it’s a little harder to place the loans, they may have to come up with

Publication: Bradenton Herald (Bradenton, FL)

Bad Credit Loans Offer Viable Solution to the Widening Credit Crisis (PRWeb via Yahoo! News)
As the credit crisis widens to include all categories of finance, Bad Credit Loans from www.loansbadcredit.org.uk offer consumers a viable solution.

Japan's Stocks Fall on Bad-Loan Concern, Real Estate Failures - Bloomberg

AFP

Japan's Stocks Fall on Bad-Loan Concern, Real Estate Failures Bloomberg - 9 hours ago 26 (Bloomberg) — Japan's stocks dropped the most in a week, led by financial companies, after HSBC Holdings Plc said real estate failures will increase bad … Asian Stocks Fall on Credit Concerns, Earnings; Banks Decline Bloomberg Japan's Shares Fall as Credit Concerns Reemerge, Sebon Fails Bloomberg Fukuoka Financial Leads Japan Banks Lower on Rating (Update1) Bloomberg all 45 news articles

Check Your Credit or It Could Cost You (KFDA-TV Amarillo)
More and more children’s identities are being stolen… By their parents. It’s shocking but true. Before some kids are even old enough to go to school, they’ve bought boats, houses and cars…

Tags: financing, house, design

Suits question real estate transactions (The Augusta Chronicle)
Ernestine Evans was suspicious of the claims that S.D.A. & Associates would help her daughter and son-in-law, Ernie Barthelemy, sell their East Pine Ridge Drive home and get the family out from under a mortgage they couldn’t afford. But they signed up with S.D.A. in March 2007, moved back home to Louisiana and gave owner Regina Preetorius power of attorney to deal with the house.

Homeowner Loans When Credit Problems Become An Obstacle - Best Syndication

Best Syndication

Homeowner Loans When Credit Problems Become An Obstacle Best Syndication, CA - 5 hours ago Homeowner loans are known for having a significantly higher approval ratio than other loans when the applicant has a bad credit score. … Essentials For Purchasing A Country House Best Syndication all 4 news articles

Hard-pressed consumers refuse to read from the script - Financial Times

Hard-pressed consumers refuse to read from the script Financial Times, UK - 8 hours ago When consumers borrow money, the ranking of different debt – from student loans, to auto loans, to credit cards, to mortgages – is largely up to the … Private financiers now in the spotlight Arizona Republic all 4 news articles

Solving the state’s housing dilemma (Sunday Business Post)
The government is being pushed from all sides to act on the stagnant property market, but there is a risk that any moves could just make things worse.

In the U.S., banks see more lending pain to come (International Herald Tribune)
Lenders in the United States are cutting back drastically on credit to individuals, making mortgages and consumer loans tougher to get and more expensive.

Students working harder to find loans, experts say - South Coast Today

Students working harder to find loans, experts say South Coast Today, MA - 20 hours ago It is grad students with bad credit who could suffer the most as private lenders drop from the market. PLUS loans are only available to students without an …

Lyons: Crushed by easy credit - Milford Daily News

Lyons: Crushed by easy credit Milford Daily News,  USA - 21 hours ago Refinance with an adjustable-rate mortgage, pull some cash equity out of your house, pay off a couple of credit cards and then repay the home loan with …

Could Peter Crook, chief executive of Provident Financial, redeem … - Times Online

Times Online

Could Peter Crook, chief executive of Provident Financial, redeem … Times Online, UK - 2 hours ago By mid-2006 he had introduced Provident's first credit-scoring system. He made home credit loans available on plastic cards so that customers could buy …

Banks cut back on home-equity credit lines - Richmond Times Dispatch

Banks cut back on home-equity credit lines Richmond Times Dispatch, VA - 20 hours ago People with great credit can't get them any more. Loan limits are being frozen or reduced across the board on credit cards, home-equity loans and all lines …

Home Equity Frenzy Was a Bank Ad Come True (The Sarasota Herald-Tribune)
Home equity loans, once seen as the borrowing of last resort, have grown a thousandfold since banks began spending billions of dollars to advertise them.

US Indians turn to ethnic banks for loans (HT via Yahoo! India News)
Indian immigrants in the US now have a much better chance of realising their American dream. More and more banks run by Indians are opening in North America to cater to the new Indian immigrant, who finds it tough to get loans from mainstream American banks, which are struggling due to the sub-prime mortgage crisis. At least seven Indian-American ethnic banks have opened in the past three years; …

Tags: design, money, house

House OKs rescue for homeowners, Freddie, Fannie (AP via Yahoo! Singapore News)
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac. The 272-152 vote reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the …

Bank investors redefine bad news - International Herald Tribune

Reuters

Bank investors redefine bad news International Herald Tribune, France - Jul 22, 2008 Delinquencies on auto, credit cards, and home equity loans have worsened across the industry. Even affluent people with sterling credit scores are falling … Credit-card firms replace regionals as top fear MarketWatch Wachovia, other US banks post dismal results The Australian Wachovia, other US banks post dismal results guardian.co.uk all 88 news articles

House OKs rescue for homeowners, Freddie, Fannie (San Francisco Chronicle)
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac. The 272-152 vote reflected a congressional push to…

House passes housing market rescue bill (Billings Gazette)
WASHINGTON - Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and supporting troubled mortgage companies Fannie Mae and Freddie Mac.

TCF results a reminder credit crisis not yet gone - Minneapolis Star Tribune

TCF results a reminder credit crisis not yet gone Minneapolis Star Tribune, MN - 9 hours ago A year ago, loan loss provisions stood at $13 million. "It's a good management doing the right thing, but playing a bad hand," Ryan said. …

Secured loans - This is Money

Secured loans This is Money, UK - 49 minutes ago They are an expensive option but, if other avenues of credit have dried up, you need a large sum of money over a long repayment period, or you have a bad …

Ailing WaMu says it's making headway - Seattle Times

CNBC

Ailing WaMu says it's making headway Seattle Times, United States - Jul 23, 2008 So far this year, WaMu has set aside $9.4 billion to cover the future cost of loans that go bad; Killinger said he expects such set-asides to peak this year … WaMu Falls After Failing to Convince All Analysts on Capital Bloomberg Washington Mutual posts 2Q loss of $3.3 billion The Associated Press More Pain May Lie Ahead For WaMu Forbes CNNMoney.com - Bloomberg all 463 news articles

HSBC losses widen in U.S. credit market Bank sets aside $3.4 billion for bad loans
Julia Werdigier The New York Times Media Group International Herald Tribune 11-15-2007 HSBC losses widen in U.S. credit market Bank sets aside $3.4 billion for bad loans Byline: Julia Werdigier The New York Times Media Group Edition: 5 Section: FINANCE/BUSINESS LONDON — HSBC Holdings warned

Publication: International Herald Tribune

White House credit union has high rate of bad loans
WASHINGTON — The White House Federal Credit Union has a bad-loan record worse than 83 percent of similar institutions, which could prove embarrassing in light of President Bush’s criticism of congressmen who overdrew their accounts at the House Bank. According to a report released yesterday under

Publication: The Boston Globe

Credit Cards: How to Protect Your Limits - BusinessWeek

BBC News

Credit Cards: How to Protect Your Limits BusinessWeek - 10 hours ago Although it seems like easy free money, credit cards are actually short-term loans that often have steep monthly interest charges. … American Express feels consumers' pain CNNMoney.com Five Things You Need to Know: American Express Tastes New Water Minyanville.com American Express Sinks as Visa, MasterCard Thrive: Chart of Day Bloomberg Schaeffers Research - RTT News all 346 news articles

House OKs mortgage rescue (CNN Money)
The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.

Credit Cards: How to Protect Your Limits (BusinessWeek)
To lower their overall default risk and protect profits, some card issuers may reduce your credit limit. Here are tips for keeping it steady

Tags: debt, sad, funny

Bank investors redefine bad news - International Herald Tribune

BBC News

Bank investors redefine bad news International Herald Tribune, France - Jul 22, 2008 Delinquencies on auto, credit cards, and home equity loans have worsened across the industry. Even affluent people with sterling credit scores are falling … Wachovia reports $9 billion loss CNN HEARD ON THE STREET Wall Street Journal Wachovia loses $8.9B, cuts 6350 workers, dividend The Associated Press al.com - The Tennessean all 1,401 news articles

Credit Cards: How to Protect Your Limits - BusinessWeek

BBC News

Credit Cards: How to Protect Your Limits BusinessWeek - 8 hours ago Although it seems like easy free money, credit cards are actually short-term loans that often have steep monthly interest charges. … American Express feels consumers' pain CNNMoney.com Five Things You Need to Know: American Express Tastes New Water Minyanville.com American Express Sinks as Visa, MasterCard Thrive: Chart of Day Bloomberg Schaeffers Research - RTT News all 342 news articles

Valley National Bank Ranked 8th Best Performing Home Equity … - FOXBusiness

Valley National Bank Ranked 8th Best Performing Home Equity … FOXBusiness - 14 hours ago At June 30, 2008, Valley's $538 million home equity portfolio consisting of over 14200 loans continued to perform well, with only 11 loans past due 30 days …

Potential impact of federal housing package - San Francisco Chronicle

Seattle Post Intelligencer

Potential impact of federal housing package San Francisco Chronicle,  USA - 2 hours ago … but have come under increasing pressure as more loans go bad; let the Treasury Department extend an unlimited line of credit to Fannie and Freddie and, … Video: House OKs Rescue for Homeowners, Freddie, Fannie AssociatedPress House passes mortgage rescue plan Austin American-Statesman Fannie and Freddie: Getting to know powerful pair The Associated Press TMCnet - Los Angeles Times all 3,856 news articles

TCF Financial 2Q profit down on bad loan costs - Forbes

TCF Financial 2Q profit down on bad loan costs Forbes, NY - 18 hours ago TCF's provision for credit losses, or money set aside to cover bad loans, shot up to $62.9 million in the 2008 quarter, from $13.3 million in the second …

House OKs rescue for homeowners, Freddie and Fannie (The Monterey County Herald)
WASHINGTON — Rescue legislation sailed through the House on Wednesday aimed to help 400,000 strapped homeowners avoid foreclosure and prevent the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.

House OKs rescue for homeowners, Freddie, Fannie (AP via Yahoo! News)
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.

House passes housing market rescue bill (Billings Gazette)
WASHINGTON - Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and supporting troubled mortgage companies Fannie Mae and Freddie Mac.

House OKs mortgage rescue (CNN Money)
The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.

House OKs rescue for homeowners, Freddie, Fannie (San Francisco Chronicle)
Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac. The 272-152 vote reflected a congressional push to…

TCF results a reminder credit crisis not yet gone - Minneapolis Star Tribune

TCF results a reminder credit crisis not yet gone Minneapolis Star Tribune, MN - 7 hours ago A year ago, loan loss provisions stood at $13 million. "It's a good management doing the right thing, but playing a bad hand," Ryan said. …

Easy money: a little thing like bad credit won’t cost you a mortgage loan. (includes related article on “125% equity loans”)
Time was, when you fell behind on your mortgage or missed a credit card payment, you were penalized. Not dragged off to debtors’ prison exactly, but you knew better than to ask your corner banker for another loan. That seems a quaint notion today, when borrowers in the market for mortgage loans who

Publication: U.S. News & World Report

Tags: mortgage, consolidation, bank