Mortgage and Financial News From 2007-12-14 Page 19

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  • Reports Find Economy Holding Up

    New York Times - Even home buyers with sterling credit records are being forced to pay higher interest rates for jumbo mortgages that have balances of more than $417,000 — the limit for loans that can be purchased by Fannie Mae and Freddie Mac . The crosscurrents in ...
    2007-12-13 07:11:00

  • Dollar hits one-month high vs yen on solid U.S. data

    Reuters - ... N: Quote , Profile , Research ), hit hard by its exposure to subprime mortgage defaults ... investors have been selling to buy assets in currencies with high interest rates. ... The current market is event-driven and few in the market are confident of betting ...
    2007-12-14 01:16:00

  • Business topics

    Fort Lauderdale Sun-Sentinel - ... used to finance LBOs out of concern that the collapse of prices for subprime-mortgage securities will spread. Mezzanine funds make loans to companies at higher rates ... WCI said Scheidemann is the current treasurer and has been with the company since ...
    2007-12-14 04:15:00

  • Greenspan: Odds Rising for a Recession

    Chicago Tribune - Growth in the current October through December period is expected to have slowed to a feeble pace of just 1.5 percent, or less ... Critics say Greenspan held interest rates too low for too long after the 2001 recession. To have prevented such euphoria ...
    2007-12-12 03:59:00

  • Australia, Japan Money Rates Rise on Credit Crunch (Update1) (Bloomberg.com)

    Dec. 14 (Bloomberg) -- Australian money-market rates climbed to the highest since 1996 and Japanese rates held near a 12-year high, indicating a cash injection by global central banks this week has failed to revive confidence in lending.
    2007-12-13 11:59:52

  • City's tax increase under 1%

    Windsor Star - ... but significantly chopped the city's library budget. The slight tax increase means the owner of a typical $150,000 home ... the last hurdles which helped councillors whittle down the tax increase was an 11th-hour deal that allows Windsor to refinance ...
    2007-12-14 12:40:00

  • Place legal curbs on 'rescue' practice

    Contra Costa Times - THE BANK WAS threatening to foreclose on Lonnie Davis' El Cerrito home. One day, the 76-year-old retired school custodian ... much of the equity had been drained through predatory loans and he didn't have enough income to qualify for another refinance. ...
    2007-12-14 03:25:00

  • No sale

    Long Beach Press-Telegram - Think about problems with home sales, and places like Miami, with its huge unsold inventory, come to mind. But none ... Subprime mortgages helped many buyers get into the market or to refinance, but left them stranded when the mortgage business ...
    2007-12-14 01:23:00

  • Families fearing loss of homes seek lender help

    Detroit News - She'd purchased her home in 1977 for $20,000, but through a series of refinances now owes $71,000. After an initial teaser rate on her latest refinance reset to 10.9 percent, her mortgage payment rose above her monthly fixed income. Her mortgage ...
    2007-12-13 11:07:00

  • Higher number of home foreclosures was predictable

    Louisville Courier-Journal - Higher number of home foreclosures was predictable The Courier-Journal r ecently published an article saying that ... that they had the interest-only loan so that at the end of that time they could sell the property at a profit or refinance it ...
    2007-12-14 03:53:00

  • FHA Loan Expansion Heading To a Vote (Washington Post)

    Hundreds of thousands of minority and moderate-income home buyers would become eligible to get low-rate, low-down-payment mortgages insured by the federal government under an agreement struck yesterday in the Senate.
    2007-12-14 12:04:59

  • Web Search powered by (Red Bluff Daily News)

    AUBURN, Calif.—The wife of a convicted killer faces federal fraud charges for allegedly lying to refinance her home to pay her husband's legal bills. Jean Garcia, 50, of Auburn, is charged with fraud and money laundering for exaggerating her income on two December 2005 mortgage applications.
    2007-12-13 07:35:39

  • Central Banks Act on Credit Crunch

    BusinessWeek - ... that the Federal Reserve was not taking sufficiently robust action to tackle the credit ... The industry has admitted more than $50bn of losses from bad bets on US mortgages. American homeowners are defaulting on their mortgage payments in record ...
    2007-12-13 12:23:00

  • FOREX-Strong U.S. data boosts dlr/yen to 1-mth high

    Forbes - ... previously thought, and could well avoid a recession despite a lingering credit ... It's a combination of a couple of things, one is an ongoing feed of bad news out ... hit hard by its exposure to subprime mortgage defaults. The downgrade stirred risk ...
    2007-12-14 01:09:00

  • Mortgage crisis inflicts collateral damage

    MSNBC - Here we are, tenants, paid our rent on time, went through credit checks and everything else, and now, all of a sudden, the landlord’s going bad on a mortgage,” he said. Officials at the Bakersfield homeless shelter said they were at capacity but ...
    2007-12-12 03:59:00

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