Loans digger

This story is part of the Free Press’ continuing coverage of the U.S. credit crunch.
Kelly and Nicole Shannon had to rush to close on their three-bedroom Westland home, but they made it just under the wire to get a mortgage without a down payment.
The days of zero-down mortgages, which helped to fuel the real estate […]

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The hard-pressed home lending market faces not just another interest rate rise but also another bout of higher funding costs after a warning yesterday that the credit ratings on a significant chunk of the Australian mortgage-backed bond market could be cut.
The decision by the credit agency Moody’s to review the investment ratings on up to […]

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