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...market from rising foreclosures, says Bob Curran, a managing director at Fitch Ratings. With a mountain of specialized adjustable-rate mortgages, known as option ARMs and certain Alt-A mortgages, slated to reset over the next 12 to 18 months and unemployment projected to hit 10.5% this year, the number of homeowners defaulting on their mortgages is expected to surge. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company. (See high-end homes that won't sell...

Author: /time Magazine | Title: Still Hunting for a Bottom in Housing | 1/7/2010 | See Source »

...record 3 million homes received foreclosure notices in 2009, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He expects a similar number this year...

Author: /time Magazine | Title: Still Hunting for a Bottom in Housing | 1/7/2010 | See Source »

...next few days" a summary of the preliminary report on the failures that led to the near deadly Christmas bombing plot. But there is little doubt that a new tone has been set among Obama's senior staff, which through much of 2009 was able to celebrate a number of key intelligence victories that thwarted developing threats in Denver, New York, Texas and Illinois, among other places. In the meeting with his staff, Obama used words that he would not repeat before the television cameras an hour later...

Author: /time Magazine | Title: Obama's Terrorism Postmortem: Still Not Connecting the Dots | 1/6/2010 | See Source »

Despite last year's spike in the number of terrorism cases involving American Muslims, fears of growing radicalization in the American Muslim community may be greatly exaggerated, according to a new study. Researchers at Duke University and the University of North Carolina at Chapel Hill say that while homegrown Islamic terrorism is a serious issue, it remains a limited problem. (See the top 10 religion stories...

Author: /time Magazine | Title: Threat of Homegrown Islamic Terrorism May Be Exaggerated | 1/6/2010 | See Source »

What happened next is not entirely clear. Slovakian authorities say they immediately contacted their counterparts at Dublin Airport to explain the situation, but the Dublin Airport Authority says it did not hear from the Slovakians until Tuesday morning. (According to the Irish media, a telex went to the wrong number.) Slovakian officials described the oversight as a "silly and unprofessional mistake" and apologized to the Irish. But in a statement from the Slovakian Interior Ministry, the government took exception to the arrest of the passenger: "[For an] incomprehensible reason, [the police] took the person into custody and undertook further security...

Author: /time Magazine | Title: Passenger Found with Explosives! (Sorry, Just a Test) | 1/6/2010 | See Source »

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