Sun-Sentinel.com - "Greenspan: Worst of subprime mortgage crisis has passed" (10-6-07)

"The meltdown of the U.S. subprime lending market that has triggered a global credit squeeze is largely over, former U.S. Federal Reserve Chairman Alan Greenspan said Wednesday. 'The worst is over,' he said at a meeting with local businessmen. Nevertheless, the U.S. economy is likely to suffer continued fallout from its weak housing market, he said. Economic growth in the U.S. is likely to slow in coming months, a trend that would 'bottom out in early 2008,' Greenspan said."

The Washington Post - "For the Distressed, Tax Relief. For Others, a Bigger Bite." (10-6-07)

"In a tax-Peter-to-pay-Paul move, the House voted Thursday to permanently remove the 'phantom income' tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a short sale to avoid foreclosure. The House also voted to extend the tax deductibility of mortgage insurance premiums through 2014 -- an important benefit for many borrowers who pay either private mortgage insurance or Federal Housing Administration premiums on their loans."