Monday, August 06, 2007

St. Petersburg Times - "Jittery lenders raise rates" (8-4-07)

"Two months ago, with enough money for a 10 percent down payment, Satyajit Bhuyan approached Bank of America for a mortgage. The software consultant had all his paperwork in order, except for a $1,800 hiccup. A 2001 unresolved payment for an outpatient procedure at a Tampa hospital emerged like a ghost from the past, temporarily blocking his entry into his four-bedroom Tampa Palms home."

The San Diego Union Tribune - "Mortgage, credit worries push stocks, dollar lower" (8-4-07)

"Stocks tumbled yesterday on fears that the worsening ills in the mortgage and debt markets could soon take a significant toll on consumers, businesses and the overall economy. The latest decline capped a volatile two weeks on Wall Street in which the stock market has swung wildly from day to day, reflecting rising uncertainty about the outlook for markets and the risks plaguing the economy. The biggest moves lately have often occurred shortly before trading closed."

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