Mortgage and Financial News From 2007-10-28 Page 4
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Time to avoid a subprime future
MSN MoneyCentral - The bill, similar to one put forward by Democrat Charles Schumer in the Senate, would eliminate some of the perverse incentives that warped the market for such loans. Mortgage originators would have a "duty of care" to make only those loans a ...
2007-10-28 02:10:00 -
Scam artist wants a break
St. Petersburg Times - Postal Inspectors and the Department of Financial Services, focuses on credit counseling and mortgage loans by the Safe Harbour Foundation and Silverstone Lending, which Porcelli and others set up in 2005. According to a federal lawsuit filed by ...
2007-10-28 05:45:00 -
Old-time banking pays off for Astoria
Newsday - According to Astoria's 2006 report to regulators, more than 60 percent of the institution's home-mortgage loans are interest-only for the first 10 years, and 95 percent switch from fixed to adjustable rates after a number of years. In 2006, the bank ...
2007-10-28 05:52:00 -
Report: Mortgage Foreclosures Skyrocket In Conn. Cities (NBC 30 Connecticut)
Mortgage defaults and foreclosures in Connecticut's cities have skyrocketed over the past year, a real estate tracking company has found.
2007-10-28 01:17:51 -
Tax change would put end to vacation home loophole
Pittsburgh Post-Gazette - The legislation also would make permanent the tax deduction for private mortgage insurance, which most homeowners have to ... For homes sold after Jan. 1, sellers would have to calculate a fraction. The top number would be the number of years the home ...
2007-10-27 08:59:00 -
Research measures low-doc loans at $8.8bn
Age - HOPEFUL home buyers undeterred by higher interest rates and stresses in the US mortgage market have pushed the value of low ... Other researchers including the Reserve Bank have attempted to calculate low-doc loan stock (i.e. the accumulated low-doc ...
2007-10-28 05:49:00 -
Land-trust community would keep mobile home sites affordable
Delaware Online - Mortgage payments and property taxes are the responsibility of the owners, who gain the tax benefits of the mortgage interest deduction. When a homeowner decides to sell, the land trust will appraise the home, calculate a resale price and either ...
2007-10-28 10:57:00 -
Canadian retailers lower prices to keep customers
St. Petersburg Times - The central bank's key interest rate remains at 4.5 percent while the prime lending rate is 6.25 percent. Stock markets were higher, with the Toronto index at 14,235 points and the TSX Venture Exchange 3,091 points. Lotto 6-49: Wednesday 8, 9, 31, 42 ...
2007-10-27 11:08:00 -
Lloyd C Blankfein Chairman and CEO of Goldman Sachs Group, Inc
Economic Times - Even as most big Wall Street Firms have been hit by the sub-prime crisis, one firm stood out in the carnage Goldman ... You can influence asset markets through interest rate policy. But it is a function of a fast growing economy that it is growing ...
2007-10-28 04:26:00 -
Australia faces economic turbulence from US meltdown, warns PM
Economic Times - ... advanced economies, faced looming economic turbulence from the subprime lending meltdown in the United States, Prime ... Battling poor opinion polls, Howard faces the prospect of an official interest rate increase by the Reserve Bank on November 6 ...
2007-10-28 05:45:00 -
House price gloom as the wealthy turn away
Times Online - There has been a big drop in City bonuses being used to buy prime property in Central London and in the popular second ... Meanwhile, the Centre for Economics and Business Research predicted that the credit crunch, combined with five interest rate ...
2007-10-28 06:06:00 -
Will RBI lower the interest rate?
Economic Times - As of now, the prime lending rate (PLR) of banks varies between 12.75 and 13.5 percent. Inflation is hovering around five percent. Other countries have substantially lower interest rates. China has a negative real interest of 2.64 percent. South ...
2007-10-28 01:49:00 -
Malaysian shares outlook - Higher on extended buying after KLCI hits ...
Forbes - Stock markets across Asia are likely to continue to rally ahead of the Federal Reserve's rate-setting ... Among the market movers, oil and gas and construction and property stocks may edge higher as buying interest is expected to accelerate with Prime ...
2007-10-28 05:09:00 -
Fed tipped to deliver US rate cut
BBC News - The Federal Reserve is widely expected to cut US interest rates once again when it ... The last rate decision was seen as sending a strong signal that the US ... And up to two million US families - especially those with sub-prime mortgages ...
2007-10-28 10:07:00 -
Prime Minister John Howard urged to change poll tactics
News.com.au - Still trailing in the opinion polls, some Liberals are blaming the Prime Minister ... Mr Howard's admission that Liberal advertising in 2004 had promised to keep interest ... and talk about what people pay for their mortgages, not the official cash rate ...
2007-10-28 01:49:00