Mortgage and Financial News From 2008-2-24 Page 18

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  • Defaults on loans skyrocket in state as economy weakens

    Minneapolis Star Tribune - His attempts to refinance the home loan have gone unanswered. "I get the feeling they're dealing with a lot of people right now." He said he's working with Capital One attorneys to pay in smaller installments.
    2008-02-23 03:44:00

  • Scheme to help homeowners in negative equity

    Financial Times - These borrowers have little incentive to keep up with their loan repayments even if they have the cash flow to do so, because they have very little economic interest in the home. "People in this situation are stuck - they cannot refinance because they ...
    2008-02-22 06:08:00

  • Mortgage: Is it time for you to refinance?

    Arizona Daily Star - I had maybe 20 calls over the last two weeks from folks who are just so upside-down they have no ability to refinance," said ... Instead of being able to borrow 90 percent of a home's value, a borrower may be able to borrow only 85 percent.
    2008-02-24 12:19:00

  • Senate panel examines value of California tax breaks amid deficit

    San Francisco Gate - The measure would allow cities and counties to refinance subprime mortgages and reverse mortgages without meeting the current requirement that the refinance involve a substantial rehabilitation of the home.
    2008-02-24 08:55:00

  • Fed cuts, yet some rates go higher (The Buffalo News)

    NEW YORK — So the Fed's interest rate cuts were supposed to make borrowing easier, right? If only that were so.
    2008-02-24 04:06:42

  • Auto Loan Refinance = Lower Payments (Richfield Reaper)

    (ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income.
    2008-02-24 06:50:28

  • Senate panel examines value of California tax breaks amid deficit (The Fresno Bee)

    As lawmakers grapple with a $16 billion state budget deficit, a Senate committee this week will consider whether California really needs a sales tax exemption for poultry litter, an enhanced oil recovery credit or about $50 billion a year in other tax breaks.
    2008-02-24 09:03:27

  • Brazil Stocks Gain on Credit Outlook, Earnings; Bolsa Declines

    Bloomberg - The Bovespa is 2.7 percent below its Dec. 6 record on concern that the subprime mortgage losses in the U.S. will crimp credit and slow world growth ... Growth prospects look bad globally,'' Gerardo Copca of Metanalisis in Mexico City said in a telephone ...
    2008-02-22 12:32:00

  • Victims of investment in Otsego

    Minneapolis Star Tribune - They claim that UMG agreed to find renters with bad credit to live in the homes on a rent-to-own basis; that UMG promised to collect the rent and pay the mortgage, using its own money to make up the difference because the rent was typically about ...
    2008-02-20 03:54:00

  • Foreclosure crisis not as bad locally

    Daily Progress - The nation’s subprime mortgage meltdown has apparently not scorched the ... Foreclosure is a bad thing. It shouldn’t happen,” said Dave Phillips, chief ... payments and are available to riskier borrowers who generally have bruised credit.
    2008-02-22 03:59:00

  • THE RATINGS GAME: 'Headwinds' Blow Fannie And Freddie Off Course ...

    CNN Money - WASHINGTON (Dow Jones) -- Struggling mortgage-finance giants Fannie Mae and Freddie Mac sustained a fresh blow Friday as Merrill Lynch downgraded their shares, citing bad -- and potentially ... in financial-market conditions and worsening credit ...
    2008-02-22 09:33:00

  • The urge to renovate

    Boston Globe - But in the 21st century, when outlet stores and credit cards give nearly everyone ... Joneses can't help thinking, “He has something nicer than me, and I feel bad ... The fact that the mortgage industry has made it so easy to liquidate that equity is ...
    2008-02-24 06:53:00

  • GMAC's ResCap Gets Credit Line, May Sell Resort Unit (Update4)

    Bloomberg - ... Motors Corp. , will prop up Residential Capital LLC with a loan of as much as $750 million while the mortgage ... declining profit from auto lending and record U.S. home foreclosures, which sparked a rise in bad loans and squeezed available credit for ...
    2008-02-22 02:12:00

  • Does mortgage mess affect my mutual funds?

    St. Louis Post-Dispatch - Even amid the subprime crisis, not all mortgage-related investments are bad. Mortgage backed securities are pools of mortgages ... all of the MBS are high quality since they are issued by government agencies that either have the full faith and credit ...
    2008-02-24 01:16:00

  • A good deal in bad times

    Worcester Telegram & Gazette - A good deal in bad times Homeowners may avoid foreclosure with the help of ... foreclosure and the more serious damage foreclosure inflicts on a person’s credit ... telephone rings constantly with referrals from real estate agents, lawyers, mortgage ...
    2008-02-24 03:32:00

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