Mortgage and Financial News From 2008-2-24
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Moving up (Arizona Daily Star)
The changing face of Tucson business
2008-02-23 11:16:25 -
Reverse mortgages can help cash-strapped seniors (The Tennessean)
After retiring in 1998, Joost Koenig, along with his wife, Joan, moved to White House, Tenn., from California to escape the escalating costs of the West Coast, and to live closer to their daughter.
2008-02-24 12:25:22 -
Foreclosures on the rise (Montgomery Advertiser)
It took less than five minutes for property once owned by a Montgomery couple to become another statistic in the national foreclosure crisis.
2008-02-24 02:00:52 -
Prosecutor warns: Elderly abuse on the rise (Westland Observer)
Abuse of elderly people, even by their own children, has become the fastest-growing crime in Wayne County and the nation, and the problem will only worsen as baby boomers age, officials said Wednesday. "It can be financial, physical or emotional, and the consequences can be deadly," Westland Mayor William Wild told nearly 150 seniors who attended a seminar at Westland's senior Friendship Center. ...
2008-02-24 04:03:02 -
In Ohio, Promises Of Change Ring Hollow (CBS News)
As Ohio's primary approaches, both Democratic candidates have called for significant new investments and policy changes. But Toledo's economic problems have causes that the candidates have been unable to address, the Washington Post reports.
2008-02-24 04:37:00 -
(Full Story) (WIBW-TV Topeka)
(Washingtonpost.com) This story was written by Michael A. Fletcher. -------------------------------------------------------------------------------- The Ford plant in nearby Maumee, where workers stamped out automobile fenders and dash panels, will close this year.
2008-02-24 07:44:11 -
Nashua...From the Inside
Nashua Telegraph - Nick is a second-grader at Broad Street School, and his drawing will be used during the part of the musical called ... Sununu said the workshops will give homeowners information about programs on mortgages and foreclosures, including Project ...
2008-02-24 04:23:00 -
Lloyds TSB Profit Rises 10%, Helped by Consumer Loans (Update3)
Bloomberg - Good growth in mortgages and retail deposits more than offset the marketwide experience of lower unsecured personal lending balances,'' the bank said. It took a second-half charge of 40 million pounds for customer claims on overdraft fees.
2008-02-22 05:44:00 -
European Stocks Decline; RWE, Renault, New Star Lead Retreat
Bloomberg - Feb. 22 (Bloomberg) -- European stocks fell, trimming their second straight weekly advance, after RWE AG reported its first ... The gauge has fallen 11 percent this year on speculation losses related to subprime mortgages and an economic slowdown in the ...
2008-02-22 07:17:00 -
Thousands trapped in Northern Rock loans
Times Online - TENS of thousands of Northern Rock borrowers face being trapped in mortgages charging punitive rates of interest following the ... However, with our second baby on the way this could prove difficult.” House prices in his area have been flat, so the ...
2008-02-23 12:59:00 -
Proposal to help home loan borrowers
Financial Times - ... guaranteed by the Federal Housing Association based on the new market value of the home and use these to repay part of their original mortgages. The balance would be converted into a “negative equity interest” in the home – similar to a second ...
2008-02-22 01:07:00 -
Cascade of losses doesn't end with death
Austin American-Statesman - ... to the study, 40 percent of filers said they lost phone service; 19 percent said they went without food; 54 percent said they did without doctor visits; 43 percent did not fill prescriptions; and 15 percent took out second and third mortgages to pay ...
2008-02-23 11:00:00 -
Florida trying to shut down Platts realty firm
Pittsburgh Post-Gazette - They complained that he sold homes with inflated prices, created fraudulent second mortgages, used legal filings called "lis pendens" to extract extra money by tying up the titles to the homes and filed duplicated federal housing forms that showed ...
2008-02-22 09:07:00 -
Hispanic real estate agents struggling
Elkhart Truth - But the national housing market took a turn for the worse in the second half of 2007 as the interest rates of adjustable rate mortgages began to rise, leading to higher mortgage payments.
2008-02-23 06:33:00 -
Mortgagee auctions put valuations in spotlight
Stuff - The second home had mortgages to ASB for $547,000 and Finance Assist for $150,000. It was passed in at $370,000. The number of distressed sales is still a small part of the total market, but is expected to increase.
2008-02-23 06:36:00