MORTGAGES – The Federal Reserve announced that it’s ramping up efforts to provide relief in the spreading credit crisis, saying it will make up to $200 billion available to cash-strapped financial institutions. The action is being coordinated with central banks in other countries to provide help in the current global credit crisis.

HOW FAST CAN YOU SAVE MONEY? – Florida’s My Safe Florida Home (MSFH) program wants to get the word out, and will do so in many state markets by advertising on TV and radio. And the message will be funny. The commercials will ask: "How fast can you save money?" and then use satire to compare the ease of signing up for a free home inspection with money-saving techniques that don’t work nearly so well. The MSFH program has provided more than 172,000 free wind inspections to Floridians, more than 70 percent of whom saved an average of $224 – without making a single improvement – because the report confirmed that some mitigation already existed and their current insurer dropped the rates. Floridians whose homes have received free wind inspections from the MSFH program may also be eligible to apply for matching tax-free grants of up to $5,000 to make improvements. Floridians in single-family, site-built homes are eligible. The MSFH program has also partnered with local governments and the Volunteer Florida Foundation to offer low-income homeowners an opportunity to strengthen their homes against natural disasters. For more information, visit www.MySafeFloridaHome.com or contact the program toll-free at (866) 513-6734.

INTERNATIONAL BUYERS – From atop any gleaming, condo complex, southwest Florida’s housing markets of Naples, Bonita Springs, and Estero appears to be brightening. But viewed from abroad, it looks much brighter. Shoppers from Europe, Latin America, Canada and South Africa, who turned away as the downturn took hold, are again scoping out bargains as website visitors and inquiries are being received.

ECONOMY – A new economic report says the U.S. should avoid a recession this year, though the economy probably will continue to suffer as the housing slump eats away at job creation and consumer spending. "This is a tough call, but I will be very surprised if this thing actually precipitates into recession," says Edward Leamer, director and co-author of the Anderson Forecast by the University of California, Los Angeles.

FORECLOSURES – Many homeowners just give up. They owe more than the house is worth, and rather than fight the lender and try to negotiate a better deal, they just move out and mail the keys in; and lenders don’t put up a fuss. "I can’t get you to pay if you’ve got no skin in the game," says one lender.