Bloomberg - "Bailout Is Big, Bad, Ugly, the Only Answer" (10-9-08)

"Is the U.S. taxpayer losing $700 billion? No. We're bailing Wall Street out of bad mortgage-related loans and other assets that no one else wants to buy. The Treasury will buy them at something more than their current, depressed market value. That adds some capital to struggling banks, which they sorely need. At some point, the government will resell the assets to private investors."

Bloomberg - "BlackRock, Pimco Submit Bids for Treasury Bailout" (10-9-08)

"BlackRock Inc. and Pacific Investment Management Co. submitted proposals to manage troubled mortgage- backed securities in the biggest portion of the U.S. Treasury's $700 billion financial-rescue program, people familiar with the matter said."

Bloomberg - "AIG May Tap $37.8 Billion From Fed, on Top of $85 Billion Loan" (10-9-08)

"AIG can swap as much as $37.8 billion of its 'investment- grade, fixed-income securities' for cash to 'replenish liquidity' at the New York-based insurer, the Fed said late yesterday in a statement. AIG spokesman Nicholas Ashooh said the assets were held mainly in U.S. life insurance subsidiaries and declined to say how much of the new program has been used."

Los Angeles Times - "California's Prop. 12 would provide mortgage funds for veterans" (10-9-08)

"With hundreds of veterans returning to California from service in Iraq and Afghanistan, voters are being asked to borrow $900 million to provide low-cost mortgages for those who served in the military."

Inman News - "Feds waive capital rules for Fannie, Freddie" (10-9-08)

"Federal regulators have made an official determination that Fannie Mae and Freddie Mac are undercapitalized, but have suspended rules that would have required the companies to raise additional money. The Federal Housing Finance Agency, which placed Fannie and Freddie into conservatorship on Sept. 7, said today that Fannie and Freddie have effectively been undercapitalized since June 30."

Inman News - "IMF: Global recession can be averted" (10-9-08)

"The International Monetary Fund projects a global recession can still be averted if financial markets stabilize and U.S. housing markets bottom out in 2009. The financial crisis that began in U.S. housing markets has the world teetering on 'the cusp of a global recession,' according to a top IMF official. But IMF Managing Director Dominique Strauss-Kahn said today that if countries act together, a slow economic recovery should begin in the second half of 2009."

Realty Times - "Market Conditions" (10-9-08)

"San Diego is seeing a true buyers market at this time, with prices on a downward trend. Local expert Dawn Lewis reports that the downtown San Diego median condo price for 2007 was $538,000. This median condo price for Downtown San Diego condos was $52,000 less than last years median condo price."

Realty Times - "Deploy A Strategic Assault On Your Mortgage Application" (10-9-08)

"Today's volatile housing market demands that home buyers take an exacting, almost surgical approach to completing a mortgage application in order to speed the paperwork through the narrowed arteries of the home loan pipeline. Profusely sweating the details of a mortgage application gives lenders fewer reasons to reject your quest for the American Dream. And the need for speed is crucial if you want to beat today's realty market clock which frequently resets itself."