Bernanke says he erred in gauging mortgage fallout (AP)

AP - Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market's collapse.

Federal regulators shut 2 California thrifts (AP)

AP - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state.

Web sites offer real estate agent rankings (AP)

AP - Word of mouth is one of the most common ways homebuyers and sellers find a real estate agent. Now, there are several Web sites that tout a more scientific approach: ranking agents based on criteria such as years of experience, how many sales they've closed, and the number of positive testimonials from past clients.

5 Things to Freak Out About (The Motley Fool)

The Motley Fool - Our fellow Americans are experiencing a world of hurt -- layoffs, postponed retirements, foreclosures, bankruptcies, and, at best, angst and uncertainty. Your empathy is appreciated, but is that really the best use of your energy right now?

Hypo Real Estate to receive euro20 billion loan (AP)

AP - Troubled German lender Hypo Real Estate said Friday it has been granted euro20 billion ($25 billion) in loan guarantees from a government fund, which comes on top of a previous bailout to stabilize its business amid the financial turmoil.

US plans holiday relief from foreclosures, job loss (AFP)

AFP - US President George W. Bush signed into law a bill to extend unemployment benefits over the Christmas holiday period and major federal lenders will freeze home foreclosures until the New Year, officials said Friday.