Last week, the federal government began sending out more than $100 billion in “tax rebates” to millions of Americans in an effort to stimulate the sluggish economy. More Info…

Money Magazine turns 35. Find out what’s changed since the first issue hit the stands and what’s to come for the next 35 years. More Info…

Reuters - Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm.

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Second annual edition…Money Magazine and Salary.com sought out the best jobs for anyone ready for a new challenge.

The only 7 investments you need
It’s a tough market, but that doesn’t mean you need more weapons for your portfolio. Now more than ever, don’t complicate your strategy. Simplify it.

Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

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Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

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The worst isn’t over for Miami, Phoenix, and hard hit areas of California, which are all forecast to see big home price drops in the next 12 months. More Info…

Whether you’re buying or selling, the real estate game has changed. To win, you’ve got to learn a new playbook.

Money 70: Best funds
Use these picks to fill any hole in your portfolio.

Why your tax rate is going up
Last week, the federal government began sending out more than $100 billion in “tax rebates” to millions of Americans in an effort to stimulate the sluggish economy.

Save or Splurge: A buying guide
To get the most for your money, you need to know two things: when it’s worth paying extra and when the budget choice is good enough. Money magazine shows you how.

Cities set for steep losses
The worst isn’t over for Miami, Phoenix, and hard hit areas of California, which are all forecast to see big home price drops in the next 12 months.

AFP - The US House of Representatives has approved a bill that lawmakers hope could stem the tide of home foreclosures due to the subprime mortgage crisis, but it faces a presidential veto.

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Smart picks and sure strategies for today’s uncertain market

IndyMac loss steeper than expected, shares fall (Reuters)
Reuters - IndyMac Bancorp Inc , one of the largest independent U.S. mortgage lenders, posted a first-quarter loss on Monday as it wrote down bad mortgages and grappled with the cost of cutting jobs and closing offices.

Mortgage cos. reveal damage from housing crisis (AP)
AP - Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over.

AIG sees no signs of mortgage asset market rebound yet (Reuters)

Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.