Reuters - The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.

AP - Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren't doing enough to help borrowers at risk of losing their homes.

Reuters - Shares of AIG fell 12 percent on Monday after an analyst raised concerns about a possible deficiency in the company's non-life insurance reserves.

U.S. News & World Report - Retirees don't have to pay for professional work clothes, dry cleaning, or transportation to the office. So some workers reason that they will be able to get by with a lower income when they retire. But spending on basic necessities typically increases in retirement. The budget for food, housing, and healthcare is larger for retirees at every income level, according to research by Deanna Sharpe, an associate professor of personal financial planning at the University of Missouri. "What we can't say is that people will spend drastically less," she says. ...

Reuters - U.S. banks have already recognized two-thirds of an estimated $2.1 trillion to $2.6 trillion in credit losses, but prime mortgage and commercial real estate would contribute more to the remaining losses, Goldman Sachs said.

Reuters - The Treasury Department is expected to meet with lenders on Monday to press them to do more to rework troubled home mortgage loans, a source familiar with the Treasury's thinking said.

Reuters - The Treasury Department is expected to meet with lenders on Monday to press them to do more to rework troubled home mortgage loans, a source familiar with the Treasury's thinking said.

AP - The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday.

Reuters - The Treasury Department wants lenders and companies that process monthly mortgage payments to do more to rework troubled home mortgage loans and will announce new measures on Monday aimed at achieving that goal, a department spokeswoman said on Saturday.

AP - The approach of a new decade means a chance for a fresh start with your financial habits. Maybe your loved ones could use a nudge in that direction, too.