Options to mull when foreclosure looms (The Post-Standard)
Foreclosures are on the rise. In the second quarter of this year, foreclosure proceedings were begun on one in 154 mortgaged houses, according to the Mortgage Bankers Association.

What’s the damage? Why banks are only starting to uncover their subprime losses (FT.com via Yahoo! News)
When Merrill Lynch, the US bank, announced 10 days ago that it was taking $8bn-worth of losses on mortgage-related securities, bankers and regulators around the world reeled in shock. For the writedown was twice the size of the losses that Merrill had forecast just a two and a half weeks earlier - a “staggering” multi-billion dollar gap, as Standard and Poor’s, the US credit rating agency, …

California mortgage defaults hit record - San Jose Mercury News
California mortgage defaults hit recordSan Jose Mercury News,  USA - Oct 27, 2007Like many buyers in recent years, they used a first mortgage equal to 80 percent of their home's $439000 purchase price and a second mortgage to make up the …

Beijing’s bank defines ’second’ mortgage (China Daily)
BEIJING — The Beijing branch of Bank of Communications (BOCOM) has recently given its own definition of a “second” mortgage, which will base on the house property of the applicant rather than the applicant’s family.

Think home-price slide is over? The worst appears yet to come - San Diego Union Tribune
Think home-price slide is over? The worst appears yet to comeSan Diego Union Tribune, United States - 4 hours agoAfter more than a year's worth of the Great American Mortgage Crisis, some real estate professionals still think the law of supply and demand will kick in …