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Exploring a reverse mortgage (Minneapolis-St. Paul Star Tribune)
Consider options: A traditional mortgage, home equity loan or line of credit might prove best. Consider costs: Weigh high upfront costs in reverse mortgages. One expense is "non-recourse" insurance, so if you collect more in payments than your house is worth, your heirs don't pay that balance.
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Erie County Real Estate Transactions (The Buffalo News)
Following are real estate transactions over $5,000 as listed in records of the Erie County clerk's office for the week ending July 25.
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Credit unions to help with college aid (Daily Herald)
Eight Illinois credit unions have partnered with two state agencies to provide $100 million in financial aid for college students through a new program designed to plug funding gaps brought by the nation's credit crunch, state officials announced Sunday.
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Stories Making Headlines Today (WSAV Savannah)
President Bush says the government stepped in to take over Fannie Mae and Freddie Mac because their failure would be "unacceptable."
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More U.S. homeowners falling behind or in foreclosure (Pioneer Press)
WASHINGTON — The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments.
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Mortgages: No relief in sight (Minneapolis-St. Paul Star Tribune)
Mortgage delinquency and foreclosure rates hit records last quarter. And more prime borrowers are being affected.
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GMAC slashing work force, reduces mortgage lending (The Star)
LOS ANGELES (AP) - Lender GMAC Financial Services said Wednesday it will close all of its 200 retail offices and lay off about 5,000 employees as part of plan to reduce its mortgage lending and servicing because of the housing market downturn.
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Businesses still banking on a refilled Lake Delton (Portage Daily Register)
For tourists, the draining of Lake Delton wasn't a life-altering, close-to-home catastrophe. They could call from their hometowns in Illinois or Minnesota or Indiana and cancel their summer reservations at local resorts.
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LEGAL NOTICES 9-4-08 (Drummer)
NOTICE IS HEREBY GIVEN, that default has occurred in conditions of the following described mortgage: DATE OF MORTGAGE: November 6, 2006. MORTGAGOR: The Dale Whalen Company, LLC.
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20,000 students to benefit from more college credit (Chicago Sun-Times)
As many as 20,000 more Illinois students could get loans to go to college this year under a deal to be announced Sunday.
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