The Press Democrat - "A boom in bankruptcies" (2-17-08)

"A total of 47 cases were scheduled for hearings Thursday in his Santa Rosa bankruptcy court, each involving a creditor seeking permission to seize a debtor's property. While a few cases dealt with debts on cars or commercial properties, the vast majority involved lenders attempting to foreclose on homeowners who had sought safe haven in the courts from the fallout of the subprime mortgage crisis."

The San Diego Union Tribune - "Student borrowers latest to feel credit crunch" (2-17-08)

"If you want to borrow a lot of money for college, you are not going to like what the mortgage mess is doing to you. The credit crunch, which started with a panic over people missing home loan payments several months ago, has spread like a disease, infecting a broad range of loans. Now it may poison opportunities for college students to obtain some loans and is adding painfully high interest costs to many."

Los Angeles Times - "Shades of gray amid a bleak view of housing prices" (2-17-08)

"The average price of houses sold in the country's 32 largest metropolitan areas during 2007 declined by 3.7%, according to the first official government figures covering the previous year. The $11,900 slide, from $324,900 at the end of 2006 to $313,000 on Dec. 31, is somewhat larger than the December-to-December drop-off recorded by the National Assn. of Realtors, which reported a more modest 1.4% slip in the median house price."

Orange County Register - "How I'd fix the mortgage mess" (2-17-08)

"No more loan fees. None. Yes, zero transaction costs. Why? Then we can all shop for mortgages on a level playing field, like, 6 percent vs. 5.75 percent. Instead of 6 percent at a quarter-point vs. 5.75 at a point with no escrow fees, or the like. Let the lenders (especially the new ones I'd let in) and the loan-support business figure out how to profit in such an environment. Yes, mortgage rates may tick up a bit, but at least people will know what rate they are actually getting and how much they are paying for the service."

Orange County Register - "Builders offer buyers price guarantees" (2-17-08)

"Faced with plummeting home sales and reluctant buyers, some homebuilders are offering a plan designed to take the worry out of buying when prices are falling. So far, none of these plans is available in Orange County, although Los Angeles-based KB Homeswill begin offering oneat an O.C. project later this month. Other builders also have offered price guarantees in the Inland Empire."