Clergy take on mortgage mess
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At the Quail Lakes Baptist Church in Stockton, California, the parishioners at weekly prayer group meetings seek spiritual support for everything from health issues to marital problems to job losses.
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Overwhelmed by sexual abuse lawsuits involving priests, the Roman Catholic Diocese of Spokane today became the third in the nation to file for bankruptcy protection.
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Lenders are pulling deals for 100%-plus mortgages, leaving first-time buyers with a financial headache.
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The crisis in the subprime mortgage market has heightened tension between mortgage lenders and brokers who both hope to shape any laws aimed at stamping out dangerous loans.
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Distinctions between local economies are being overridden by a mortgage market that has made it more difficult for many would-be homebuyers to obtain financing.
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Prepare for an odd kind of financial disaster.
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Some are Catholics who see their church as stuck in the past. Others are believers who happen to be divorced, pregnant before marriage or gay. A few just can't find a priest when they need one.
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The Portland Archdiocese filed for bankruptcy Tuesday because of the steep costs from clergy sex abuse lawsuits, an unprecedented step that could open the Roman Catholic archdiocese to new levels of court scrutiny.
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Jeffrey Finch spelled out the problem in a hand-written letter: He'd lost his job as a minister, and his wife's take-home pay as a teacher, $3,100 a month, did not cover their $3,300 mortgage payments.
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The homeowners who signed these mortgages must be held accountable somehow ("State to refinance troubled mortgages," July 11). Yes, the mortgage companies may have taken advantage, but if the homeowners had hired an attorney or did their homework, there wouldn't be a problem. This is like rewarding stupidity.
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As mortgage defaults rise, more houses are being put up for auction -- and more people are seeing a chance to make big bucks. But there are risks
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America&#39;s biggest mortgage lender was thrown into turmoil yesterday when the industry watchdog accused it of having major accounting problems and doubted the &quot;soundness&quot; of the company.
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Some clergy have criticized what they regarded as the churchâs leftward drift, including the consecration of an openly gay bishop.
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Creditors put more pressure on debt-soaked borrowers.
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Business & money: Many have lost their homes after repayment pledge failed to avert repossession.
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A priest who resigned from a church in an affluent Connecticut community misspent up to $1.4 million in parishioner donations to lead a life of luxury with another man, according to a church-directed investigation.
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Financial problems are threatening the completion of a Warsaw church meant to commemorate the late Pope John Paul II and the fall of communism.