We have all read the stories of how the great American subprime unwinding is reeking havoc overseas; but now it’s time for a little turnabout. The LIBOR index has surged recently as economists have called for scrutiny of the posted borrowing rates by institutions measured by the index.

The OECD (Organisation for Economic Co-operation and Development) reported that the losses related to the subprime mortgage bust could hit $420 billion based on an ultimate recovery of mark-to-market assets to 40 to 50% of their initial value.

How many ways do you know to pay off your mortgage early? Some people swear by the biweekly payment plan; others swear at it because of the fees commonly associated with it. (Biweekly payment plans are usually operated by a servicing company rather than the lender; hence the charges.)

First NLC made a living in the sub-prime mortgage arena, so it's no wonder they died with the sub-prime mortgage meltdown.

The mortgage meltdown is in full effect. Find out how many lenders bit the dust in 07' and what the Feds did to try and help the market correct itself in 08". Predictions for the 08' U.S. housing market inside as well.