What the Bailout Means for Mortgage Rates & More
We ask the experts what it means for mortgage rates, home prices and loan availability. Here is what they had to say.
Bottom-Feeding Billionaires
As Wall Street melts down, the world's richest go bargain shopping. They include Warren Buffett who just invested $5 billion in Goldman Sachs and Stephen Spielberg & Anil Ambani who are investing in American film industry.
Home Loans Getting More Out of Reach
The meltdown on Wall Street is making it even harder for home buyers to land a mortgage loan. Now, even some very well-qualified home buyers are getting turned down for mortgages. Sometimes the rejections seem completely inexplicable. Long Island, N.Y.-based mortgage broker Bob Moulton had one client with substantial income and assets who planned to put down $1.2 million on a house selling for $2.2 million. For this borrower, a mortgage should have been a snap. But it wasn't. The hitch: The buyer was a few days late with a single mortgage payment last year when he was away on vacation. That lowered his credit score to 679, which is the reason the lender cited when it denied his loan.
Financial Fears Sending Nation's Stress Soaring; 5 Tips to Deal With It
You feeling stressed these days? You aren't alone. As a nation, we are struggling emotionally to digest each day's dour economic news. Record home foreclosure filings - more than 2 million January through August. The stock market's Dow Jones industrial average down 18.4% this year. Retirement and college savings crumbling. Then there's that looming $700 billion bailout for the financial industry. Unlike many other forms of stress - such as an upcoming presentation at work or a visit from the in-laws - financial stress doesn't go away quickly. These 5 tips from the American Psychological Association can help you dealin with the stress about the financial crisis.
10 Private Eye Secrets
Forget Sam Spade. Today's PI is more likely to troll the Internet than the urban jungle.
Tina Fey: The Most Valuable Woman in Show Biz Today?
How much could the bespectacled, Palin-imitating, writer-producer-actor Tina Fey be worth? Her value to the NBC "has jumped significantly" with the latest Emmy wins. "She is becoming a brand unto herself." Portfolio.com estimates that Fey has earned, at the very least, $17 million so far, with tens of millions-if not hundreds of millions-more possible down the road.
Welcome to the Smash Shack
San Diego entrepreneur Sarah Lavely has found a perfect business for frustrating times: Selling customers breakables to fling against walls.
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
Reader Comments (Page 1 of 1)
10-17-2008 @ 10:34AM
milton said...
This is Kritrina all over again. While the Government was trying to help New Orelens, the looters was stealing everything they could get their hands on.
Now while the Government is trying to come up with a plan to bail out the banks you have the looters again out there stealing everything that can get their hands on. Don't looters get put in jail? Not if they are high profile, like Goldman Sacks, J.P.Morgan Chase, and the likes.
What's really strange is, the Government is helping these looters steal from the stock and bond holders. Their latest crime was just today when J.P.Morgan Chase stole Washington Mutual.
10-04-2008 @ 7:58AM
Frank said...
This bill means several things to me, first and foremost will my 14 year old son be able to get money to go to college when the time comes?
This also means that the banks, that put us into this mess, by giving out bad loans/debt can continue, business as usual. Perhaps a plan where people can get loans for money they can actually pay back should be considered, what a concept. It seems these banks are not suffering and I for one have no problem with them going under, because that is cause and effect.
This also means I will take my vote accross the aisle or to an independent if I determine that my Representatives voted for a bill that is padded with earmarks that have nothing to do with the mortgage crisis.
As for those citizens that took out loans that they knew they couldn't pay back, I hope you have learned your lesson and maybe 7 years of bankruptcy is not enough to keep you from doing it again.