Mortgage and Financial News From 2007-10-28 Page 14
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Observers largely positive about local economy in months ahead
Houston Chronicle - Retailers will also add jobs, except those that sell home furnishings such as linens. Eugenio Alemán predicts the big ... will spend marginally more than last" year, which was pretty good, he said. As for all the debt and the inability to refinance ...
2007-10-27 10:25:00 -
Housing Crisis Hits Home
Connecticut Post - Subprime and predatory loans first appeared in the 1990s as a high cost, high interest way to refinance a loan. The packages ... Although they now face losing their home, Shays said those buyers "never really owned a home in the first place. I'm ...
2007-10-27 08:52:00 -
Lot of promises, little action on relief bills for homeowners
Detroit Free Press - ... would allow homeowners to tap into their retirement accounts -- penalty-free -- to bring their loans current or to refinance. ... Titled the Home Ownership Mortgage Emergency Act, the bill would allow certain borrowers who are 60 days or more behind on ...
2007-10-27 11:51:00 -
Blind Man Shoots Home Intruder In Neck (WESH 2 Orlando)
A Gainesville man's lack of sight doesn't stop him from defending his home from an intruder.
2007-10-27 07:45:58 -
Home buying traps to avoid (The Edmond Sun)
It’s the American dream that has of late seen a dark cloud emerging overhead. The cloud is named “dropping home values.” It’s happening everywhere except here in the Oklahoma City metro area. My article a few weeks ago demonstrated how property values are holding firm here in the metro while in many places throughout the United States home values are eroding like a sugar cube in hot coffee.
2007-10-27 04:51:49 -
Motor Home Catches Fire On Freeway (CBS 5 Phoenix)
A motor home catches fire and closes eastbound and westbound Interstate 10 at Litchfield Road west of Phoenix. Updated 9:45 p.m.
2007-10-27 09:10:43 -
Guest column: Home equity loans should be used sparingly (The Kansas City Star)
The versatility of the home equity line of credit has many consumers tapping into their home’s equity to pay for home improvement projects, college tuition, weddings, new vehicles and credit card consolidation.
2007-10-27 08:41:52 -
Most say home loan bailout unrealistic (Houston Chronicle)
Most risky home loans made near the end of the housing boom can't be salvaged.
2007-10-27 10:49:47 -
Refinance or get a second? (Los Angeles Times)
Borrower needs $50,000 to pay debts, improve property Question: My house is worth $400,000. The balance of my 5.5% first mortgage is $270,000, and I need $50,000 to pay off debts and make improvements. I spoke to three mortgage brokers, and all advised me to refinance my first mortgage for about $325,000. I was thinking that I would just take a second mortgage for $50,000, but the brokers all ...
2007-10-28 12:10:59 -
Victoria reaches end of the line
Daily Telegraph - ... has been sold in tranches to specialist debt desks at UBS and Morgan Stanley and to Dresdner Kleinwort's sub-prime mortgage ... A report by credit ratings agency Standard & Poor's last week said borrowers with a bad credit rating face having to pay up to ...
2007-10-27 03:23:00 -
District 7: Faulkner vs. Newton
St. Petersburg Times - Being a politician isn't a bad thing," he said. Newton supports fiscal responsibility and lower taxes but thinks it ... Liabilities: Credit card, mortgage. Source of income: photography business. Web site: www.newt7.com. [Last modified October 27, 2007 ...
2007-10-27 09:57:00 -
Deep pockets could paper over SIV troubles
St. Louis Post-Dispatch - ... believe in the repetitive nature of history, it's fitting that the subprime mortgage ... Morgan to organize a syndicate of his fellow financiers that would extend credit ... where troubled SIVs must liquidate and everything — good assets as well as bad ...
2007-10-28 01:10:00 -
Center Square | Helping residents of areas in flux
Philadelphia Daily News - Misdeeds and a meltdown in the subprime-lending market have dried up credit in urban areas, and caught a lot of people in bad loans. ... president of the Reinvestment Fund, which underwrites affordable-housing projects, tracks mortgage ...
2007-10-27 11:58:00 -
Dark skies ahead for mortgage industry
The State - ... industry this week, from the people who make the loans to the people who insure them, the news was bad ... If your credit scores are low, your access to mortgage money has all but vanished,” said Dan Green, a certified mortgage planning specialist and ...
2007-10-27 08:52:00 -
Microsoft and Countrywide outlooks lift market
CNBC - Countrywide, the largest U.S. mortgage lender, said the housing slump led to a $1.2 billion third-quarter loss, but it ... On Wednesday, Merrill reported huge write-downs for bad investments related to risky subprime mortgages. The New York ...
2007-10-26 11:06:00