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The Tampa Tribune

Published: November 20, 2008

More Aid Coming

The government will let more borrowers qualify for a new $300 billion program that lets troubled homeowners swap risky loans for affordable ones, a Bush administration official said Wednesday.

Under the new Hope for Homeowners program rules, lenders would be allowed to take a smaller loss. New loans can be made for 96.5 percent of the home's value, rather than the previous level of 90 percent.

The new guidelines only apply to borrowers who are spending up to 31 percent of their pretax income on their home loans. Borrowers who are spending a larger share of their incomes are required to have at least 10 percent in home equity.

Oil Drops To $53.62

Oil slipped below $54 a barrel Wednesday as stock markets across the globe fell and yet another U.S. government report illustrated the disarray in the housing market. U.S. motorists stung by the economy logged almost 11 billion fewer miles in September, according to the Transportation Department.

Light, sweet crude for December delivery fell 77 cents to settle at $53.62 a barrel on the New York Mercantile Exchange, about where prices were in January 2007.

Homer Rides The Wave

The Simpsons Ride at Universal Studios Florida and Universal Studios Hollywood won the Themed Entertainment Association's Thea Award for Best Attraction at the 2008 International Association of Amusement Parks and Attractions Expo in Orlando this week.

The Associated Press; Ted Jackovics

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