Credit Crisis still growing more money pain to come

Trouble in Reverse?

With the housing boom gone bust, lenders are now peddling reverse mortgages to cash-hungry boomers who don’t want to sell in the storm.

Deal-hungry mortgage lenders are targeting aging baby boomers to fuel a spike in reverse mortgages that topped all of 2007’s deals in just the first four months of this year.
 
Between January and April, [...]

LandSource, A Big Land Developer in Southern California, Files For Bankruptcy

(From RTT News)
California-based land and development company LandSource Communities Development LLC said Sunday it filed voluntary petitions for relief under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware in Wilmington. The company filed for bankruptcy as its efforts to reach deal with creditors, on an interim plan, to modify and restructure [...]