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Make first-home buyers' grants like HECS loans, says 0133 - 28 minutes ago - FIRST-HOME buyers' grants should be axed and replaced with HECS-style interest-free government loans, Australia's key architects' body says. Archicentre, a national advisory service for the Australian Institute of Architects, wants the 0133 : News.com.au

Plans change as some owners get upside down on loans - 35 minutes ago - WASHINGTON Think of them as the walking wounded The homeowners who are upside down on their mortgages, owing much more than their home is now worth. But they're still on their feet and still sending their payments each month. In this 0133 : Austin American-Statesman

Feds seize 2 Southern California banks - 1 hour ago - LOS ANGELES Federal regulators seized Downey Savings Loan and PFF Bank Trust late Friday, saying hundreds of millions of dollars in bad loans from the housing bubble had rendered the Southern California banking fixtures unsound. The 0133 : Santa Rosa Press Democrat

FDIC lays out broad home loan modification plan - 11/13/2008 - WASHINGTON Reuters - The federal agency that insures most U.S. bank deposits unveiled a plan to prevent about 1.5 million home mortgage foreclosures by promising to share any losses with mortgage companies that agree to refinance certain 0133 : Boston Globe

Culture of caution spared us property market mess - 57 minutes ago - The avalanche of economic bad news shows no sign of letting up. The latest is that the number of Hong Kong homeowners in negative equity - those who owe banks more than their homes are worth - is on the rise again. In the third quarter, 0133 : South China Morning Post

Regulators Close Downey, Other Banks - 3 hours ago - Three more U.S. financial institutions failed Friday, bringing to 22 the number of banks and savings and loans that have collapsed this year. The Office of Thrift Supervision closed Downey Savings Loan held by Downey Financial Corp. DSL 0133 : Street.Com

Spending cuts won t target flood relief - 2 hours ago - DES MOINES Iowa Gov. Chet Culver s call for state spending cuts doesn t apply to Iowa s disaster rebuilding efforts and won t reduce the funding available to disaster victims, officials said Friday. Culver asked state agencies this week 0133 : Waterloo Cedar-Falls Courier

GM says board doesn't see bankruptcy as option - 2 hours ago - DETROIT AP General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman 0133 : Associated Press