Losses: 2,673 and rising; Foreclosures mean trouble.
Byline: Thomas Caywood Chester D. and Marcia F. DiLeo of Worcester didn't let a slick-talking mortgage broker pressure them into a subprime home loan they couldn't afford. They aren't struggling to keep up with ballooning interest payments on an adjustable rate mortgage. The retired couple...

City governments and predatory lending.
Predatory lending has generated increasing attention in recent years. The practice involves loans to homeowners who frequently cannot pay the associated costs and therefore lose their homes. Predatory lending is heavily concentrated in low--and moderate-income neighborhoods (1) and disproportionately affects minorities (2) and the elderly. (3) The consequences of...

Citigroup names Rubin new Chairman.
WASHINGTON, Nov. 5 (AFP) -- The world's biggest bank Citigroup named ex-US Treasury chief Robert Rubin as its new chairman Sunday, replacing Charles Prince who retired as it posted massive losses from the subprime mortgage crisis. "It is my judgment that given the size of the recent...

Credit piggybacking can prevent foreclosure.
Individuals with adjustable mortgages whose payments have escalated beyond their means and whose credit scores are too low to refinance are finding a creative way to keep from losing their homes to foreclosure. Commonly referred to as credit piggybacking, the method has been used since credit cards were created...

Asian stocks fall in global selloff.
Byline: DANIEL ROOK TOKYO, Aug. 10 (AFP) -- Asian share prices tumbled Friday, mirroring sharp falls across global bourses as investors took cover from the growing credit market turmoil. They said investors were alarmed by signs that the fallout from the US sub-prime mortgage problems...

Share prices to consolidate after extended global sell-off.
Byline: EDU LOPEZ The local stock market is likely to remain volatile over the short-term following a broad-based sell-off last week prompted by a global plunge that sent the composite index tumbling almost 4 percent Friday. The scheduled listing today of GMA Network, following an...

Mortgage lender to help borrowers.
Byline: Alex Veiga The Associated Press LOS ANGELES - Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday that it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. ...

Fiscal literacy required study for homebuyer.
Byline: Clive McFarlane COLUMN: Clive McFarlane I remember a time when a savings system called "partner" was the one avenue many low-income people could use to raise capital for purchases they couldn't afford on their weekly or monthly earnings. The partner system is...

Nearly One in Four Consumers Uncomfortable With Their Debt; New data suggest fewer Americans intend to apply for credit in the months ahead.
Byline: Dennis Jacobe Synopsis: A new Experian/Gallup Personal Credit Index (PCI) poll shows consumers becoming more cautious about borrowing, with fewer intending to apply for credit in the months ahead. Add the rising cost of gas to the equation, and former Federal Reserve Chairman Alan Greenspan's recent...

BPI optimistic on economic outlook.
Byline: FIL C. SIONIL The Bank of the Philippine Islands (BPI) is bullish about the prospects of the domestic economy for the year, which will trickle down to its business operations, amidst its apprehensions on the direction of the global economy stemming from the US-led recession due...