Mortgage and Financial News From 2007-12-14 Page 11

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• U.S. Housing Crash Deepens in 2008 After Record Drop (Update1)

  Bloomberg - Mortgage companies, including Irvine, California-based New Century Financial Corp., the second-largest subprime lender in 2006, have filed for bankruptcy protection after borrowers unable to repay their loans defaulted. H&R Block Inc. of ...
  2007-12-14 10:49:00

• Senate passes bill addressing mortgage crisis

  CNN Money - President Bush last week announced an agreement with mortgage companies to freeze interest rates for certain subprime mortgages for five years. Democrats in Congress, however, criticized the White House plans as being too limited. The Senate bill ...
  2007-12-14 11:10:00

• Japanese Companies Less Confident (AP via Yahoo! Finance)

  Confidence in business conditions at major Japanese companies fell from three months ago, a closely watched Bank of Japan survey showed Friday, dampening expectations of an interest rate hike and clouding the outlook for the world's No. 2 economy.
  2007-12-13 07:56:27

• Ahead of the Bell: Mortgage Industry (AP via Yahoo! Finance)

  Research firm FBR said the mortgage industry needs to shed 130,000 jobs before it can turn profitable because a sharp downturn in lending has left companies with bloated payrolls.
  2007-12-14 05:27:32

• Public safety briefs: Man shot in KCK

  Kansas City Star - A federal judge sentenced a former Grandview mortgage broker Thursday to a year and a day in prison for his role in a mortgage fraud scheme. Ricky L. Hamilton, 53, pleaded guilty in August, admitting that he, Emanuel M. Kind and former Kansas City ...
  2007-12-13 03:43:00

• Investigations against Calabasas-based Countrywide launched

  Los Angeles Daily News - The investigation in Illinois, first reported in the New York Times, grew out of a probe into broker One Source Mortgage, which the state has charged with luring borrowers into loans they couldn't afford, according to The Times. Countrywide was ...
  2007-12-14 10:06:00

• Hard times ahead

  Spectrum - SGI mortgage broker Scott Gibson said an average of 100 homes in Washington County are given notices of default each month. “It doesn’t mean they have foreclosed, but the process has begun,” Gibson said. According to the Associated Press, Bank of ...
  2007-12-14 06:31:00

• Rate cut costs homeowners £10m a month

  Daily Telegraph - ... this Christmas because they will not benefit from the Bank of England rate cut and find some extra money in their pocket to help them get through this expensive time of year," says Melanie Bien of Savills Private Finance, the mortgage broker. "Lenders ...
  2007-12-14 10:49:00

• Online quiz helps consumers gauge their foreclosure risk

  Pocono Record - Called the Mortgage Reality Check, it’s an anonymous, online test with a series of 12 simple questions. Answer the questions, and the site will classify you in one of three ways: - Immediate Advice or Assistance Recommended - Review the ...
  2007-12-14 06:02:00

• John L. Ahearn III

  Baltimore Business Journal - Ahearn III, first vice president of investments for UBS, has been offering financial advice for 21 years. He's seen a lot of ... Unlike many who are worried about the mortgage meltdown and credit crunch, Ahearn said he thinks it's an "exciting" time to be ...
  2007-12-14 06:31:00

• 'Sell and rent back' heartache

  MyFinances.co.uk - People struggling to pay their mortgage are being warned of the dangers of 'sell and rent back' schemes. Increasing numbers of ... Neston Borough Council has issued a caution and is urging people who might be considering 'sell and rent back' to get advice ...
  2007-12-14 08:04:00

• Trump's 'free' seminar tries to profit from distress

  Santa Rosa Press Democrat - When I heard that President Bush wants to bail out homeowners caught up in the subprime mortgage mess, I figured I'd better ... The crux of his free advice: Buy low and sell high. Set up a company so your deals won't be in your name. Don't use your own ...
  2007-12-14 09:51:00

• Schwab Reports Monthly Activity Highlights

  Forbes - ... investment services and products including an extensive selection of mutual funds; financial planning and investment advice ... The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at ...
  2007-12-14 05:48:00

• Harris Private Bank's Top Five Personal Tax Tips for 2007 Year End

  Forbes - You can also make an extra mortgage payment, as the interest portion is deductible, or pay your tax preparer for any ... This press release is for informational purposes only and is not presented as advice or recommendation of any particular ...
  2007-12-14 09:08:00

• Rate cut tops homebuyers' Christmas wish list

  MyFinances.co.uk - ... that an interest rate fall was by far the most dazzling gift many people could receive this year. The firm found the quarter point interest rate cut last week was welcomed more than fairer stamp duty, the abolition of Hips, free mortgage advice and ...
  2007-12-14 12:33:00

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