but this time it is not a sub-prime one. Is the real estate “crunch” spreading?
“American Home caters to borrowers whose credit scores fall just short of standards for top-rated mortgages. The announcement provides fresh evidence that defaults may be spreading from subprime borrowers with the worst credit scores to homeowners with more reliable payment [...]

The Fourth Circuit Court of Appeals recently addressed the issue of whether a creditor may allocate a payment made by a non-debtor guarantor first to interest then to principal, thus preserving the unpaid principal for collection in bankruptcy. Nat’l Energy & Gas Transmission, Inc. v. Liberty Elec. Power, LLC (In re Nat’l Energy & [...]

H.R. 3093 is currently scheduled to be heard on the House Floor this week. The bill will cut current funding to the Executive Office of the U.S. Trustee by 34.2 million from last year’s budget and $42.9 million less for this year’s budget.
The report states that “the Committee is concerned that excessive resources are [...]

IHOP Corp. has purchased the Applebee’s chain for $2.1 billion.
IHOP said that it intends to convert most of Applebee’s 508 company owned restaurants to franchises. IHOP had previously undergone the same transition to franchises in order to improve its business. Applebee’s is headquartered in Overland Park, KS and currently franchises three [...]

Ameriquest, Town and Country Credit Corporation and AMC Mortgage, Services, Inc., formerly known as Bedford Home Loans are paying $325 milling restitution to settle with homeowners for allegations of failure to disclose home loan terms.
“Hard-working families trying to buy a home wound up as targets of improper sales practice,” said California Attorney General Edmund G. [...]

A Warhol “painting” which is actually photographs of a car crash painted green recently sold for 71 million. Now, the question is: what does this sale, of this subject, at this price mean? One answer is proposed in Socio Times, a Socionomic Commentary.
“This sale should turn out to be very relevant, one of [...]

Here is a report that a promoter/creator of bands such as The Backstreet Boys and ‘N Sync, Mr. Lou Pearlman, may have defrauded a dozen banks out of over 500 million dollars. Evidently, according to reports, he was arrested while traveling under the assumed name of A. Incognito Johnson.
Quote:
Two weeks ago, the man [...]

Here is an interesting atricle found on www.slate.com . It concerns the bailing out of hedge funds which recently suffered major losses.
“But now Bear Stearns has finally joined the club. Last month, facing a crisis at two large hedge funds run by its asset management unit, Bear Stearns agreed http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aYDTeHYnV3ms to bail out one [...]

The Goldman family attorney announced that Ron Goldman LLC held the rights to the canceled book written by O.J. Simpson, If I Did It. The Goldman family had previously won a civil wrongful death case in the amount of $33 million.
“Ron Goldman LLC will own Simpson’s name, likeness, signature and story and will hawk [...]