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We thought it would be nice to have quick access to the most important news stories about home financing, interest rates and other banking or financial news. We felt if we were on top of it all we could take advantage of opportunities that came up. There for a while we were watching the interest rates slowly go down and then we refinanced our mortgage one more time.




 Home loan crisis prompts US bail-out (The Age)
US government seizes control of firms holding half nation's home loans after surge in defaults.

 Private student loans get scarce (The Tennessean)
Your child will be a college freshman this year, and you're a little apprehensive. Will she pass Econ 101? Eat her vegetables? Come home for Thanksgiving with an anarchist boyfriend and a full-body tattoo?

 Indiana ranks near top in troubled home loans (The Indianapolis Star)
Indiana remains among the states with the highest percentage of troubled home mortgages, with the latest data showing the nation's housing crisis worsening with rising joblessness.

 U.S. seizes Fannie and Freddie (CNN Money)
Federal officials on Sunday unveiled an extraordinary takeover of Fannie Mae and Freddie Mac, putting the government in charge of the twin mortgage giants and the $5 trillion in home loans they back.

 Treasury Extends Secured Credit Line to Federal Home Loan Banks (Bloomberg.com)
Sept. 7 (Bloomberg) -- The U.S. Treasury extended a secured credit facility to the Federal Home Loan Banks, the government- chartered cooperatives, allowing them to borrow through the end of next year.

 An option for investors: IRA-leveraged loans (Everett Herald)
Investors and second home buyers see the long-term potential of some depressed properties, but many possible players simply don't have the ready cash to make the purchase. Besides, fuel prices are up and the kids need back-to-school clothes, plane fare and rent for an apartment.

 End of FHA mortgage program may futher hurt home sales (BizJournals)
A major piece of the federal mortgage loan program is coming to an end, a change that could mean more uncertainty for home sales throughout the rest of 2008 and into 2009.

 Hope rises for Michigan housing market (Detroit News)
DETROIT -- A federal takeover of mortgage giants Fannie Mae and Freddie Mac -- the congressionally created but privately held companies that fund more than half of the nation's home loans -- has potential to help turn around southeastern Michigan's anemic housing market, local industry leaders said Sunday.

 9% of home loans in trouble (Chicago Tribune)
Late payments, defaults spread to prime mortgages WASHINGTON — More than 4 million American homeowners with a mortgage, a record 9 percent, were behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday.

 Feds take control of Fannie Mae, Freddie Mac (San Francisco Chronicle)
The federal government took control of Fannie Mae and Freddie Mac on Sunday in a bid to keep the two mortgage giants from failing, catastrophes that would have made home loans harder to get and taken the nation's housing collapse to a new level of crisis. The...

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