Mortgage and Financial News From 2007-9-2 Page 01
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Bush's mortgage plans praised
Taipei Times - This official estimated that of the 2 million mortgage holders facing new interest rates, 500,000 are at risk of foreclosure because of missed payments. The Bush administration's announcement on Friday will affect only 80,000 homeowners through ...
2007-09-02 01:38:00 -
Can the Mortgage Crisis Swallow a Town?
New York Times - Ciaravino, the mayor of Maple Heights. “My fear is that foreclosure rates could go to double where they are today.†IN terms of the subprime mortgage meltdown, Ohio has been among the hardest-hit states, according to the Mortgage Bankers ...
2007-09-02 12:55:00 -
Rate-Cut Speculation Dominates Market
Wall Street Journal - Fed action could also help cushion the downturn in the housing market if mortgage rates also decline. On Friday, the Dow Jones Industrial Average advanced 119 points, or 0.9%, after a speech by Fed Chairman Ben Bernanke increased investor optimism ...
2007-09-02 03:11:00 -
Rates squeeze consumers
Times Online - ... was that rising inflation was symptomatic of a strong economy and that, even if food and energy prices went into reverse ... Of the previous 1 point, because of the increasing take-up of fixed-rate mortgages, only just over half (0.51 points) had been ...
2007-09-01 11:44:00 -
Text of President Bush's weekly radio address
Marketwatch - At the same time we will launch a new FHA initiative called FHASecure. This initiative will help some people who have good credit but have recently been missing their payments. FHASecure will help these families refinance their mortgages so they can ...
2007-09-01 05:10:00 -
Stocks Rise After Bernanke Comments
Newsday - ... The major indexes, up sharply on optimism about a rate cut before Bernanke's speech, pulled back but climed again ahead of an expected announcement by President Bush of a plan to help borrowers facing trouble paying their mortgages.
2007-08-31 02:55:00 -
Sen. Larry Craig resigns, effective Sept. 30
Marketwatch - He had maintained his innocence despite the guilty plea, and hired a lawyer to review the case, but legal experts say it is nearly impossible to reverse a guilty plea.
2007-09-01 09:35:00 -
Sabretooth Energy Ltd Quick Quote:
Worldnews.com - Liberty Reverse Mortgage sells for $50M Business Journal is buying local reverse mortgage company for $50 million in cash. Liberty, a 2003 startup in Rancho Cordova, is one of the largest originators of reverse mortgages in the country. It also has a ...
2007-08-30 12:59:00 -
The Real Causes of the Financial Storm
Washington Post - A similar misapplication of logic is now evident in discussions of the economic havoc surrounding subprime mortgages. These ... But financial bubbles must be lived forward, even if they can be understood only in reverse. The crackup finally came this ...
2007-09-01 11:08:00 -
TheStar.com - columnists - New player set to enter reverse mortgage ...
Toronto Star - Canada's only national provider of reverse mortgages is about to feel the sting of competition in price and features. Seniors Money International, a young New Zealand company already in five other countries, will start to advertise in the Greater ...
2007-09-01 08:20:00 -
At Home: Reverse mortgages can be a senior’s best hope (Naples Daily News)
If you, your parents or other seniors in your life are sitting on a big load of home equity while struggling to get by each month on a fixed income, listen up. The answer for you may be a home equity conversion mortgage (HECM), often simply referred to as a “reverse mortgage.†As long as you own a home, are at least 62 and have enough equity in your home, you can get a reverse mortgage. There are ...
2007-09-01 06:40:26 -
A bit of hope in lending crisis
Detroit Free Press - In today's credit crunch, they cannot find a way to refinance into something more doable. It's harder to get a so-called jumbo loan -- a mortgage of more than $417,000. And it's tougher to borrow for homeowners with bad credit. But in this nasty ...
2007-09-01 12:52:00 -
Bush offers aid as foreclosures soar
Detroit News - WASHINGTON -- President Bush on Friday offered help to struggling homeowners in Michigan and across the country, saying he wants to make it easier to refinance costly mortgages and encourage the financial industry to limit foreclosures. The package ...
2007-09-01 08:06:00 -
EMI struggles as the music stops for Nicoli
Observer - Credit crunch permitting, Hands doubtless intends to refinance his leveraged bid for EMI at some point, allowing him to replace equity with more debt, securitised against the steady income provided by the royalties collected by the publishing division
2007-09-01 10:25:00 -
US proposes steps to deal with subprime
Sydney Morning Herald - The FHA will soon launch a new program called FHA Secure to allow homeowners with good credit history, but who cannot afford their current payments, to refinance into FHA-insured mortgages, Bush said. "This means that many families who are struggling ...
2007-09-02 12:27:00