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Housing Crisis


Front Page: Plan to Aid Homeowners, Huge Blasts Hit India, Economy Officially Shrinking

Oct 30 2008 - 5:56am by CitizenSugar
55 Views - 1 comment
Front Page: Plan to Aid Homeowners, Huge Blasts Hit India, Economy Officially Shrinking
  • Plan to Aid Homeowners: The Bush administration is discussing a plan to help three million homeowners with their mortgages so they can stay in their homes. In what could be the most comprehensive effort directed at the housing crisis, the government would absorb half of the losses on home loans if mortgage companies lower payments for five years. The $50 billion cost would be part of the $700 billion bailout.
  • Huge Blasts Hits India: A series of bomb explosions in India has killed at least 50 people and injured more than 150.
    on Yahoo!

Front Page: Foreclosures Grow by 70%, US Hands Province to Iraqis, Pirate Attacks Up 75%

Oct 23 2008 - 5:58am by CitizenSugar
76 Views - 12 comments
Front Page: Foreclosures Grow by 70%, US Hands Province to Iraqis, Pirate Attacks Up 75%
  • Foreclosures Grow by 70%: The number of homes in a state of foreclosure grew 70 percent in the third quarter of this year, compared with the same time last year. Almost 766,000 homes received at least one foreclosure related notice between July and September. By the end of the year it's thought there will be a million bank-owned properties for sale, or a third of all houses on the market.
  • US Hands Province to Iraqis: Iraqis have been given control of security of the province of Babil by the US military.
    on Yahoo!

MI GOP Official Sues News Website Over 'Lose Your Home Lose Your Vote' Story
MI GOP Official Sues News Website Over 'Lose Your Home Lose Your Vote' Story A Republican official in Michigan has filed a defamation suit against an independent news site, over a story in which he is quoted as stating his party plans to challenge voters whose names and addresses appear on foreclosure lists. Just a few days after the article was published, Carabelli back-tracked on his statement, telling the Macomb Daily that the party has "no plans to do anything." Later, he issued a full-throated denial, calling the original article "not true." 3 comments


France Weathering Credit Crisis Better: Pourquoi?

Sep 26 2008 - 11:15am by LibertySugar
392 Views - 26 comments
France Weathering Credit Crisis Better: Pourquoi?  Thrifty household spending in France means the economy grows more slowly, but it also means that it slows down more moderately, too. In France, it's nearly impossible to spend money you don't have. French credit cards are essentially debit cards, so there's no need to cut them up when you want that new Chanel bag, and banks aren't keen on providing a home loan unless you have 20 percent down, and the mortgage payments make up no more than 30 percent of your income.
on Yahoo!

What Ties Do Campaigns Really Have to Mortgage Giants?

Sep 25 2008 - 9:03am by LibertySugar
486 Views - 41 comments
What Ties Do Campaigns Really Have to Mortgage Giants? Late last week John McCain criticized Barack Obama for his alleged ties to Fannie Mae, a mortgage giant that, along with counterpart Freddie Mac, received a sweeping federal bailout. In a video McCain inaccurately linked Obama to Franklin Raines, who retired four years ago as the CEO of now bankrupt Fannie Mae. McCain also has been hitting Obama for tapping former Fannie Mae CEO Jim Johnson to lead his VP search team, before he was asked to step down.
on Yahoo!


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