European Stars and Stripes (Newspaper) - June 15, 2007, Darmstadt, Hesse                                June 2007 stars and stripes Page 15 your Money defaults have Ripple effect by Alan Zibel the associated press Washington millions of americans with weak credit who took out mortgages the past few years Are caught in a tug of War be tween Wall Street Banks and hedge who wins the dispute could have More Impact on How Many Home owners get financial help to Avert de fault and foreclosure than anything Congress or regulators Are contemplating in the near Washington seems to be talking a Waitan see approach even As the housing markets woes fore closures in 2007 Are twice what they were two years ago at this and monthly payments on More than million adjustable rate Mort gages issued since 2004 will be affected by rising interest rates on reset dates the next few re search firm first american Core log in predicts or 13 per of outstanding Loans will de officials at Banks and hedge funds say they want to do All they can to help distressed Hometown a debate Sim mers Over whether Banks that sold bundled mortgages to institutional investors can legally Pluck Loans out of those bundles for workouts to help keep the default rates which homeowners get chosen for financial help by lenders might be influenced by billions of dollars Worth of contracts called credit default swaps negotiated the past few years Between lenders and hedge funds lenders say they have the Legal right and want to pull out some distressed Loans and rework or reissue taking a financial hit if need to keep mortgage holders in their hedge funds argue that the real motive might be to avoid paying what lenders owe on complicated financial contracts negotiated on the instead of having to pay on a con tract at As much As 100 times the value of the underlying it becomes cheaper for some folks to buy worthless says har vey a former chairman of these purities and Exchange commission who represents a hedge unregulated hedge funds effectively assumed some of the risk lend ers faced when they issued mortgages to borrowers with risky credit his in agreed to pay hedge fund investors if the value of defaults soared on bundled Mort gages sold to institutional if the value of defaults stays below a certain hedge funds lose and owe lenders a negotiated amount led by Bear Stearns lenders say Banks can legally alter bundled mortgage regardless of whether a default risk Swap is for there Are real consequences to the failure of these mortgage Loans beyond the fact that a lot of Rich Guys didst get As Rich As they hoped to said Ira Rhein executive director of the Wash into based National association of consumer were talk ing about were talking about its not just a Mere economic Salesman coating just a cover for fee dear Tom and Ray i purchased a Honda Odys sey and the dealer tried to sell me a protective i said but he said he would Honor the offer till should i buy or is it just an upwelling strategy to get More Money out of me Sally Ray Tell him youre not in and when Hal Calls Back and asks if youd be interested if it was Tell him no Tom exterior Protection is the car already has exterior ifs called Ray and the inside that a lost cause if you just bought a you probably have what Little kids they spill drop grind chocolate into car Click and Clack Tom and Ray Magliozzi pets and Barf on the and that Only the stuff youll know other than lining the whole Interior with plastic or pulling the kids behind you in a haul theres not much you can do to prevent Tom you can get an Interior that the color of that Ray you might try buying a few Spray cans of scotch Gard and treating the seats and carpet that might make it easier to clean up the inevitable and essentially what the dealer is going to do for you can do it for 12 and that what wed rec got a question about cars write to Click and Clack in care of this or email them by visiting the car talk web site at wednesdays Market summary indexes 52 High 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invest Fidelity invest Oversea Fidelity invest aim investments a const Frnk a aim investments a Fidelity advisor Fidelity advisor Tig oppt Putnam funds a Globe qty Fidelity advisor Putnam funds a Elgva Exchange rates military rates euro costs june Dollar buys june British Pound june japanese yen june South korean won june commercial rates Bahrain British Canada China Denmark Egypt Hong Kong Hungary Israel Japan Kuwait Norway Philippines Poland saudi Arabia Singapore South Korea Switzerland Thailand Turkey new military Exchange rates Are those available to customers at military Bank ing facilities in the country of issuance for South the Netherlands and the United for no local currency Exchange rates purchasing British pounds in Germa Check with your local military Bank no commercial rates Are inter Bank rates provided for reference when buying All figures Are foreign currencies to one except for the British which is represented in and the which is precious metals York merc dose interest rates prime discount Federal funds Market rate 3month 30year sources the associated Bank of America ends and sensibility Money tip of the Day atm fees add up quickly by Alyson Ward fort Worth Texas Star Telegram fort Texas according to latest checking account pricing released twice a the aver age atm fee is now and but that not if you use an automated Teller machine that Doest belong to your you sometimes pay charge from the arms owner and a surcharge from your own it takes some but you can find ways to avoid or reduce All those Here Are five instead of driving through an get Cash Back when you make a even if you just buy you can request Cash Back at most grocery and convenience youll be out 89 cents for but that better than a go with a mostly fee free it May be impossible to find a Bank that protects you from All atm but you can find one helps you out with some of one solution switch to an on Lin Only Bank it will have no official Bank so till often reimburse you for those foreign atm plan ahead when youre trav spending the summer in Italy think if you Call your explain the situation and ask to have the atm fees sus Pended or refunded while youre out of Banks will make exceptions sometimes its Worth a Call to find know and avoid the highest fee where convenience is a fees Are usually so keep that in mind and plan if youre on your Way to dinner at a Cash Only eat dont wait until you get there to hit the get Cash at the nearest Bank or convenience store on the Way and youll save at least put yourself on an atm find a Bank that Doest charge you to use its and then swing by to with draw every monday on the Way to youll have Cash when you need and youll Seldom find yourself making a Quick Stop at the nearest Gas Pacific 1 country unit add Germany change in Price cents change in Price Jur iss Jar cents cents cents my Dorado unloaded Premium unleaded unloaded Dicosol change in Price cents cents South Korea change in Price cents Ai cents cents Guam change in Price cents cents cents in Price cents cents to cents in Turkey in Price cents the week of june 1622 v4u change in Price no change diesel end mid Grade