L.A. Times - Personal Finance

Lean years require a shift in how you give to charity

Sun, 22 Nov 2009 00:00:00 -0800

If you have less money to donate, narrow your list of nonprofits, volunteer your time or give unused household items.

Are you detecting a tone of desperation in the charitable appeals you're receiving this holiday season?

Insurance against H1N1

Sun, 22 Nov 2009 00:00:00 -0800

Mounting infections, government alerts and quarantines of foreign visitors: The drumbeat of bad news about H1N1, or swine flu, never lets up. Which leaves travelers among those who worry about protecting themselves.

FHA-insured mortgages may become more expensive and harder to get

Sun, 22 Nov 2009 00:00:00 -0800

The agency, which needs to pump up its reserves, considers raising its insurance premiums or increasing minimum down payments, among other possibilities.

For several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped home buyers who can't come up with a big down payment. It has zoomed from barely a 3% market share to nearly 30% of home purchase loans. But now, FHA-insured mortgages could be on the verge of becoming more expensive and tougher to obtain.

Pension board member directed funds to a firm with ties to his, documents show

Fri, 20 Nov 2009 00:00:00 -0800

Three years after a real estate firm invested in his company, Elliott Broidy voted with fellow panel members to place up to $30 million with the fund.

An appointee of Los Angeles Mayor Antonio Villaraigosa voted two years ago to direct millions in public pension dollars to a company that invested in his own private equity fund, according to documents obtained by The Times.

7 accused of investment fraud in Inland Empire

Fri, 20 Nov 2009 00:00:00 -0800

Prosecutors say they sold false real estate investments in a scheme that bilked clients of $17 million.

Three Riverside County businessmen and four associates were criminally charged Thursday after prosecutors said they sold false investments and committed grand theft in a scheme that bilked clients of $17 million and left many broke.

After Wells Fargo settlement, a spat over who gets the credit

Fri, 20 Nov 2009 00:00:00 -0800

Who deserves credit for forcing Wells Fargo & Co. to buy $1.4 billion in troubled securities from small investors?

Wells Fargo to buy back bonds to settle fraud lawsuit by California

Thu, 19 Nov 2009 00:00:00 -0800

The bank agrees to reimburse investors who bought $1.4 billion in auction-rate securities that were frozen in the credit crunch early last year, including $700 million held by California residents.

More than two years after he put the bulk of his savings into a supposedly secure investment account at Wells Fargo & Co., Gus White will finally get his money back.

Stocks fall as home construction slides; gold hits a record

Thu, 19 Nov 2009 00:00:00 -0800

The Dow loses 11 points as an unexpected drop in housing starts in October and disappointing forecasts from technology firms concern investors.

Major stock indicators retreated modestly from 13-month highs Wednesday on disappointing forecasts from technology firms and an unexpected drop in new-home construction.

Number of people seeking mortgages to buy homes drops again

Thu, 19 Nov 2009 00:00:00 -0800

Loan applications for housing purchases fell 4.7% last week, the sixth straight weekly decline despite the lowest interest rates since May. Refinancing volume decreases 1.4%.

Despite the lowest mortgage rates since May, applications for loans to finance home purchases fell again last week, the Mortgage Bankers Assn. said Wednesday.

Obama creates task force targeting fraud linked to financial crisis

Wed, 18 Nov 2009 00:00:00 -0800

The multi-agency effort will go after 'unscrupulous executives, Ponzi scheme operators and common criminals,' Atty. Gen. Holder says.

President Obama is taking a page out of his predecessor's playbook by creating a multi-agency task force to pursue criminals who bilked investors and consumers during the financial crisis.