By GRETCHEN MORGENSON : The collection agencies call at least 20 times a day. For a little quiet, Diane McLeod stashes her phone in the dishwasher.
But right up until she hit the wall financially, Ms. McLeod was a dream customer for lenders. She juggled not one but two mortgages, both with interest rates that rose […]
Posted on July 20th, 2008 by admin
Filed under: Finance, Debt and Mortgage, Business | No Comments »
By DAVID STREITFELD : CHICAGO — Just in time for a recession, the debt collection industry is working to shed its reputation for remorselessly hounding people.
Oh, the collectors still want the money. But now they would like to be seen as helpful and sympathetic, even a force for good.
They have started calling the indebted “our […]
Posted on March 14th, 2008 by admin
Filed under: Debt and Mortgage, Business | No Comments »
By MICHAEL J. de la MERCED : With their big paydays and bigger egos, private equity moguls came to symbolize an era of hyper-wealth on Wall Street.Now their fortunes are plummeting.Celebrated buyout firms like the Blackstone Group and Kohlberg Kravis Roberts & Company, hailed only a year ago for their […]
Posted on March 11th, 2008 by admin
Filed under: Investment, Debt and Mortgage, Business | No Comments »
By EDMUND L. ANDREWS
WASHINGTON — Just a month after President Bush and Democratic leaders hailed their bipartisan agreement on an economic stimulus plan, the two sides went to war on Thursday over how to prevent widening damage from the housing crisis.
Senate Republicans, lining up with President Bush, blocked a Democratic bill that […]
Posted on February 29th, 2008 by admin
Filed under: Debt and Mortgage, Business | No Comments »
By JULIA WERDIGIER
LONDON — HSH Nordbank, a state-controlled German bank, said Sunday that it planned to sue the Swiss bank UBS over a portfolio of complex debt products, which it contends that UBS improperly sold and mismanaged.
HSH Nordbank, based in Hamburg, said it wanted to recover “significant losses” from a $500 million portfolio of […]
Posted on February 25th, 2008 by admin
Filed under: World Business, Mortgage, Debt and Mortgage | No Comments »
By EDMUND L. ANDREWS and LOUIS UCHITELLE
WASHINGTON — Prodded in part by some of the nation’s biggest banks, the Bush administration and Congress are considering costly new proposals for the government to rescue hundreds of thousands of homeowners whose mortgages are higher than the value of their houses.
Not since the Depression has a larger […]
Posted on February 22nd, 2008 by admin
Filed under: Debt and Mortgage, Business | No Comments »
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