Bad Credit Mortgage Memphis

Poll: High gas prices lower driving time

WASHINGTON -- High gasoline prices already had most people cutting back on driving before the shutdown of an Alaska pipeline threatened to push costs even higher. However, few drivers are making bigger changes, such as carpooling or using mass transit.

Fifty-five percent of drivers said they had reduced their driving because of high gas prices, according to a poll released Tuesday by the Pew Research Center. About one in five said they had started carpooling or sharing rides more often, while 12 percent said they had begun using mass transit more often.

Economists say Americans' dependence on the automobile makes it unlikely drivers will change their driving habits dramatically, regardless of price increases, at least in the short term.

"There are small ways to cut down on driving.

SUB PRIME LENDER SEES BAD DEBTS DOUBLE IN A YEAR

Bloomberg has reported that bad debts doubling at the (mainly sub-prime) lender Kensignton mortgages has caused an 11 percent drop in their share price in early morning trading.

Mortgage lender Kensington Group's shares plunged 11pc this morning after it warned that bad debts doubled in the first half of the year and that it was suffering from increased competition.

Bad debts at the company, which lends to borrowers with below-average credit records, jumped to 24.5m in the six months to May 31, from 11.3m a year earlier.

Chief executive John Maltby said: "We do not expect market conditions to get any easier during the rest of the year." Kensington shares fell 118 to 910p in early trading.

Stuart Duncan, a London-based analyst at Numis Securities who has a "sell" rating on the stock, said: "There has been a big jump in the bad debt charge.

Family smashes illegal immigrant stereotype

For many immigrants, few things represent the American dream like a home of their own. So it was a proud day for a Thai immigrant and her three adult children when they pooled their resources to buy a five-bedroom, two-story home in Sacramento last August.

But their success story is in jeopardy. Two of her children -- college graduates who gave up promising careers in their homeland -- are illegal immigrants at risk of deportation.

The family's story illustrates an often overlooked reality about immigration. A common perception is that illegal immigrants are uneducated laborers with few opportunities at home who gratefully take menial jobs in America. Yet, a quarter of undocumented immigrants have at least some college education, with 15 percent holding a bachelor's degree or better, according to a report by the Pew Hispanic Center.

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