Economy & Innovation

News about the economy, business, and innovation happening in the St. Louis region.

This article originally appeared in the St. Louis Beacon. - While it can be argued that all levels of the lending industry played some part in the sub-prime mortgage collapse, economist William Emmons of the Federal Reserve Bank of St. Louis adds another factor: household financial behavior.

Emmons believes the sub-prime mortgage meltdown was a long time coming and is linked to the downward trend in both U.S. personal and national saving.

Chris Krehmeyer
Provided by Beyond Housing

This article originally appeared in the St. Louis Beacon. - She is a 34-year-old married mother of two who is whittling away at $20,000 of debt – a saga she shares on her Web site www.paidtwice.com.

This article originally appeared in the St. Louis Beacon. - Congress will approve a housing bill that includes foreclosure relief for troubled American homeowners promptly after the Fourth of July recess, Sen. Claire McCaskill, D-Mo., said Saturday.

This article first appeared in the St. Louis Beacon. - The foreclosure numbers are staggering, acknowledges Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation that manages 888-995-HOPE, a national hotline for Americans seeking counseling assistance.

This article originally appeared in the St. Louis Beacon. - Over the coming weeks, the Beacon, in partnership with KETC Channel 9, will be reporting on the sticky web of issues surrounding foreclosure - a crisis for nearly 2 million Americans, including thousands in the St. Louis region who have lost their stake in the American Dream.

This article first appeared in the St. Louis Beacon. - If you -- or someone you know -- are worried about making house payments, it's time to take action. Trouble is, mortgage talk is a language many homeowners do not understand. ARMs, resets, balloons ... and the dreaded F word: Foreclosure.

A sub-prime mortgage, for example, is not a reference to the interest rate of the loan but to the credit history of the borrowers.

This article first appeared in the St. Louis Beacon. - Get help now. Open your mail. Answer the phone. Don't avoid those calls from your lender; deal with your mortgage problems while you still can.

Even as AmerenUE battled a new round of power outages brought on by weekend storms, the Missouri utility giant continues to ramp up its plan to move more and more of its most vulnerable electrical lines underground.

Underground wires

 

Photo courtesy of AmerenUE

Ameren Vice President Richard Mark shows the type of cables that are being put under ground to improve reliability.

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