The San Diego Union Tribune - "Only thing tax rebates will stimulate is our debt" (1-27-08)

"I don't know about you, but I'm already developing a list of ideas for how to use that check the government will soon be sending out to stimulate the economy: pay off my income taxes, pump up the kids' college funds and pay for a couple of things in cash instead of using my credit card. Unfortunately, that is precisely the kind of thinking that our fearless leaders in Washington hate. Which is one reason I doubt this $145 billion 'financial stimulus' program will have any significant or lasting effect on the economy, other than to put the government $100 billion deeper in debt."

The San Diego Union Tribune - "Low interest rates spur surge in refinancing" (1-27-08)

"Nobody can answer these questions for certain, but there's no doubt about this: Thanks to the lowest mortgage interest rates in a year and a half – an average 5.73 percent for conforming 30-year fixed-rate loans and 5.21 percent for 15-year loans – nearly 60 percent of all new mortgage applications by mid-January were for refinancings, according to data compiled by the Mortgage Bankers Association."

The San Diego Union Tribune - "Tax breaks enacted in '07 offer homeowners some relief" (1-27-08)

"Homeowners found three attractive tax breaks among their holiday presents, thanks to the federal Mortgage Forgiveness Debt Relief Act of 2007, which was enacted in December. The first tax break concerns forgiveness of debt, which occurs when a lender forgoes repayment of principal and/or interest the borrower owes."

Yahoo - "Paulson Pushes Senate for Stimulus Deal" (1-27-08)

"President Bush's chief negotiator on an economic aid deal said Sunday the Senate should quickly get behind a plan or risk drawing the resentment of a frustrated public. The president and House leaders have agreed on a proposal to provide tax rebate checks to 117 million families and give businesses $50 billion in incentives to invest in new plants and equipment. The goal is to help head off a recession and boost consumer confidence."

The San Diego Union Tribune - "Mortgage lenders pledge millions to help counsel homeowners at risk of defaulting" (1-27-08)

"Major mortgage lenders have pledged $4.6 million to hire more mortgage counselors in California to help homeowners at risk of defaulting on their home loans, an advocacy group said recently. Eight mortgage lenders, including Merrill Lynch, Wells Fargo Bank and Countrywide Financial Corp., pledged funds along with the San Francisco Foundation and the California Community Foundation, according to the California Reinvestment Coalition."