“The president believes it is important for the American people to fully understand the depths of the crisis affecting our country, how that affects them,” Dana Perino, the president’s chief spokeswoman, said. Mr. Bush will speak from the White House at 9 p.m. for 12 to 14 minutes, Ms. Perino said.

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The Bush administration insisted yesterday that Congress move quickly to approve what one lawmaker called the "mother of all bailouts" - a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation's credit markets.

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HBOS has confirmed it is in advanced talks with Lloyds TSB about creating a UK retail banking giant worth £30bn. According to the BBC the two firms are in "advanced talks" over a combination that would create a group with a market value of around £30bn and more than £300bn of deposits.

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Whilst Lehman had incurred losses of billions of dollars in the US mortgage market,  Bank of America bought Merrill Lynch on the cheap because it was also in toruble. Merrill Lynch, also stung by the credit crunch, has agreed to be taken over by Bank of America in a dramatic weekend of events for Wall Street.

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The US Treasury will announce a rescue of Fannie Mae and Freddie Mac in what is likely to be the biggest ever financial bail-out. The move to shore up the shareholder-owned firms, which hold or guarantee half the US mortgage debt, would be the US's largest ever financial bail-out.

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Here is a review of what has happend, which saw both the European Central Bank and the Federal Reserve in the US open up emergency cash to prop up their banking systems. Later in the month, the crisis at Northern Rock seriously -- and I mean seriously -- shook confidence in the UK and Europe.

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To boost investor much needed confidence in Property Market, UAE & Dubai is introducing numerous new laws. The Dubai Government introduces these laws to try and regulate the market. The provisions of the law will be applied to properties for mortgage as property insurance with no difference between full towers or units.

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Wondering what happend to foreign currency mortgage deals that existed back in 80's, here is a quick review on what this is?. Foreign currency mortgage is nothing but a mortgage deal where you take loan in a different currency other than GBP.

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Shares in US mortgage giants Freddie Mac and Fannie Mae have plunged Further in August on fears that the government will be forced to bail out the pair. A report by US financial weekly Barron's suggested that the chances of a government rescue were increasing.

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A report by HSBC.co.uk into the UK mortgage market has thrown up some some unusual results. HSBX is now claiming that far from finance being a problem for the housing market, 98% of those looking to buy have had no problem arranging a mortgage.

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