The Federal Reserve on Friday approved the proposal, released Thursday by the Office of Thrift Supervision and the National Credit Union Administration. The proposal would give reasonable time to make payments and much more.

Even as the housing slump sees home owners defaulting in record numbers and mortgage lenders writing off billions of dollars of bad loans, others are seeking the silver lining. Home prices are falling, and many consumers are betting that now may be the time to buy. These would-be home owners are finding, however, that buying their dream home might not be as easy as it was before the housing bust.

The Federal Reserve is at it again, pumping another $50 billion in short-term loans in to the financial system to prevent a freeze up. That brings the total to a cool $360 billion since the auctions started in December. 83 bidders were represented looking for a slice of the loans which were granted at 2.87% interest.

DebtX, the largest marketplace for commercial debt, today announced the sale of more than $218 million in residential and commercial real estate loans secured by properties across the United States.

More than $1 million in U.S. Small Business Administration Disaster Assistance Loans have been approved for residents in Alabama who were affected by the February 2008 storms and tornadoes.

New York Mortgage Trust, Inc. (OTC Bulletin Board: NMTR) announced that, on March 13 and 14, 2008, in connection with the Company's previously announced decision to reduce leverage in its portfolio of Agency mortgage-backed securities, the Company sold approximately $236 million of Agency MBS issued by Fannie Mae, resulting in a loss of approximately $6 million.

Popular, Inc. announced today the completion of the previously announced sale by its Equity One subsidiary of a significant portion of its U.S. consumer-finance loan portfolio to American General Finance, Inc. for approximately $1.48 billion.

Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') announces that it has secured new bank loan facilities totaling US$150 million, principally to finance its field development programs.

Most people realise that you can't borrow your way out of a bad debt problem however ironically this is exactly what people with debt problems automatically seem to want to do.

Quick SMS loans will now be harder to obtain. After much discussion over the drawbacks of the loans, Swedbank have made an agreement with the loan company that slows down the procedure.

A panel of legal and education experts will demonstrate how the new Federal Student Loan Repayment and Forgiveness Law will affect law graduates and law schools.

The U.S. Small Business Administration is reminding businesses that January 29 is the filing deadline for federal economic injury disaster loans available to small businesses located in the State of Florida as a result of drought conditions beginning March 1, 2007 and continuing.