The Boston Globe - "The mortgage mess" (7-22-07)

"STUPID LENDERS making stupid loans to stupid borrowers. You might think this sums up what the surge in mortgage foreclosures means to you. You would be mistaken. That so many homeowners are having such trouble meeting their mortgage payments could very well mean your own home's value has dropped, that you may not be able to get a home-equity loan, or that your retirement savings will grow more slowly than you planned. Conceivably, it could even mean that the global financial system -- and by extension the economy and even your job -- is threatened."

The San Diego Union Tribune - "Fannie, Freddie deepen involvement in subprime loan market" (7-22-07)

"Fannie Mae and Freddie Mac are riding to the rescue of the subprime lending market. The two large housing finance agencies are beefing up their business of guaranteeing subprime loans at a time when slack lending standards and falling home prices have translated into rising delinquencies and foreclosures among subprime borrowers."

The San Diego Union Tribune - "Subprime losses called bumps on road" (7-22-07)

"Wall Street shuddered when two hedge funds managed by Bear Stearns Cos. buckled from exposure to subprime loans, but economists say investors' reaction might be overblown. At first, the news this past week seemed alarming. Shareholders of Bear Stearns found out Tuesday that two of its hedge funds were rendered practically worthless by wrong-way bets in complicated mortgage securities. Then, a few days later, several top U.S. banks said they've added to reserves to withstand loan defaults expected in the second half of the year."

Los Angeles Times - "Drop anchor, you're home" (7-22-07)

"There are few issues in a marina more likely to rock the boats than the topic of live-aboards -- people or families who live full time on board. For some, it's the fulfillment of a fantasy lifestyle -- the freedom to pick up anchor on a whim, living unburdened by possessions beyond one's true needs. But the reality is that people choose to live on the water for a number of practical reasons as well."

Los Angeles Times - "Is 5% the new no-money-down?" (7-22-07)

"We were asked recently in a radio interview if the LA housing market is reverting to traditional financing, with buyers making 20% downpayments. Um, we said articulately, we don't think so -- LA is just not a 20% downpayment market. There aren't enough buyers with $100,000 in the bank. This personal finance profile in today's LATimes sheds more light on that issue. It profiles a couple with $13,000 in savings, and contains the following advice from a financial planner: don't buy a house until you've saved enough for a 5% or 10% downpayment."