Mortgage and Financial News From 2008-2-24 Page 12

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  • 401(k) loans mount

    Courier-Post - ... benefits for the firm PinkSlip LLC in San Francisco Bay, said she's been surprised by the number of people using hardship withdrawals to make payments on so-called "piggyback" loans, which are home-equity loans wrapped with a first mortgage to ...
    2008-02-24 12:15:00
  • Homes Worth Less Than Their Mortgages

    ABC News - When the Ferraiulos took out a new mortgage on their home in 2005, it was worth $244,000. Just three years later, theirs is a much different story.
    2008-02-21 03:53:00
  • FDIC chief argues for stronger rules for home loans

    San Jose Mercury News - The chair of the Federal Deposit Insurance Corp. argued today that more stringent regulations were needed to prevent a repeat of the subprime mortgage crisis. "The home mortgage market needs strong rules," said FDIC chair Sheila Bair. Bair appeared ...
    2008-02-22 02:05:00
  • Don't wear blinders when dealing with the boss

    MSNBC - Take Barbara, a Denver-based senior underwriter for a major mortgage company. Over a two year period, she was asked by her manager to sign off on home loans for individuals that she knew were not worthy of loans because of their questionable credit ...
    2008-02-24 02:10:00
  • Congress to consider bankruptcy relief, foreclosure assistance ...

    Detroit News - Lawmakers also plan this week to question several high-profile mortgage and banking executives about industrywide losses and ... an estimated 8 million homeowners with "upside-down" mortgages to refinance into government-backed loans covering the home ...
    2008-02-24 12:22:00
  • A struggle to make ends meet

    Boston Globe - Now she hasn't been able to pay January's mortgage, and these are people who have owned their home for 10-plus years," Meffen said. "It's not like a rare thing anymore.
    2008-02-24 01:05:00
  • Commons speaker in expenses storm

    Croydon Guardian - There is also concern over Mr Martin's use of the second home allowance after it emerged he has no mortgage on a property for which he has claimed more than £75,000 to maintain.
    2008-02-24 12:22:00
  • But Together, mortgage holders may have to wave goodbye

    Guardian Unlimited - Many savers look set to get a great deal from a state-owned Northern Rock, at least for the time being. But what about the bank's 800,000-odd mortgage customers? It was home loans that were at the root of Northern Rock's downfall, and some ...
    2008-02-22 04:14:00
  • PIMCO's Gross: Fed cuts no help for housing

    Guardian Unlimited - U.S. house prices have been falling, defaults in the subprime home mortgage market have been rising, and dozens of major U.S. lending operations to less-creditworthy borrowers have gone out of business.
    2008-02-22 08:57:00
  • Cerberus' problems deepen amid Chrysler, GMAC woes

    CNBC - Cerberus' $1 billion agreement last year to buy H&R Block Inc's Option One Mortgage Corp subprime unit as demand for risky home loans collapsed.
    2008-02-24 02:02:00
  • Seven tax tips to put more in your pocket

    Christian Science Monitor - Mortgage-insurance premiums now deductible. If you buy a home and put down less than 20 percent of the purchase price, lenders typically require you to buy private mortgage insurance (PMI) to cover their bet.
    2008-02-24 01:48:00
  • UPDATE 1-Banking regulator sees more U.S. mortgage defaults

    Forbes - The home mortgage market needs strong rules," Bair said. "We need rules that apply across-the-board so they protect all homeowners, regardless of who their lender is, or what state they live in," she said.
    2008-02-22 01:29:00
  • Six Months of Fun, Fun, Fun from the Fed

    Safe Haven - THIS WEEK marked the six-month anniversary of the Fed's first cut to US interest rates during the current world banking crisis. And it's been fun, fun, fun ever since for hard asset investors.
    2008-02-22 12:25:00
  • PIMCO's Gross: Fed cuts no help for housing

    Reuters - NEW YORK (Reuters) - The Federal Reserve's aggressive interest-rate cuts have failed to push mortgage rates lower and thus ... of its benchmark rate by 2.25 percentage points since September to the current 3 percent has not brought mortgage rates ...
    2008-02-22 03:09:00
  • Wisconsin Power and Light Company Files Request to Change Retail ...

    MSN MoneyCentral - ... by $93 million (9.1 percent) and decrease natural gas service rates by $814,000 (1.0 percent), when compared to current rates ... In the request, WPL asks the PSCW for approval to offer customers low interest financing or grants for customer-owned ...
    2008-02-22 09:26:00