Mortgage and Financial News From 2007-12-16 Page 15
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Housing slump hits home in East San Jose
San Jose Mercury News - Nor can they refinance because home values have dropped, leaving them without any equity in the house. Meanwhile, lenders have tightened standards that once allowed lower-income families to buy $600,000 homes with no money down. And for every ...
2007-12-16 01:35:00 -
Pomona man trusted refi deals, now may lose home (The Journal News)
Since Mario Dorelien can remember, he has worked hard for everything. No handouts or wealthy parents here, he says with his rich trademark laugh. His four-bedroom home with front and back yards, two children in college and another working his way there, all came by the sweat of his brow.
2007-12-15 11:42:44 -
Delaware real estate market hits wall as home prices slide (The News Journal)
Real estate agents say Delaware's current housing market is the slowest they've seen in decades, with the number of home sales down, homes sitting longer on the market, foreclosures climbing and prices stagnant.
2007-12-16 01:01:48 -
Waiting to refinance would not be wise (Everett Herald)
Question: We are thinking about refinancing our home and pulling out some cash.
2007-12-16 12:10:15 -
Marriages, families victims of wave of foreclosures
MSNBC - Here we are, tenants, paid our rent on time, went through credit checks and everything else, and now, all of a sudden, the landlord’s going bad on a mortgage,” he said. Officials at the Bakersfield homeless shelter said they were at capacity but ...
2007-12-12 03:59:00 -
More shoppers downsizing this Christmas
Daily Breeze - An unwelcome, early package of high gas and food prices, expensive credit, rising ... Despite recent interest rate cuts, mortgage rates are still up to 2001 levels, and ... 22-year-old Moorpark College student is homeless at the moment, a result of bad ...
2007-12-16 01:28:00 -
Bumpy road ahead for state budget
Rutland Herald - Meanwhile it is not clear how much the slowdown in real estate values, the "credit crunch" precipitated by the subprime mortgage debacle and other economic bad news will play into the overall state budget picture. "We have seen a fairly dramatic ...
2007-12-15 11:55:00 -
Chick Wit | Holiday glut? Get help from Guilt-O-Meter
Philadelphia Inquirer - This is good for my mortgage payments, if not for ... My Credit-Card Guilt upticked to 3, but that's comfortable for me. I left the mall happy, or in any event, much less guilty. But when I got home, there was bad news.
2007-12-15 11:55:00 -
Investors not buying into Fed's latest moves
Philadelphia Inquirer - The funds borrow short-term money and invest it at a higher rate in mortgage, bank and credit card debt. Citigroup Inc. said it planned ... we're going through, though painful, is necessary," Hogan said. "The banks have to work through all the bad if we ...
2007-12-15 11:55:00 -
The U.S. credit crunch timeline
Toronto Star - No. 1 mortgage lender, draws down $11.5 billion from its credit lines to stave off insolvency. Aug. 22: Reports show U.S. home foreclosures were up 93 ... His latest commentary only added to fears on Wall Street that the worst of the bad-loan reporting ...
2007-12-16 01:28:00 -
Central banks fly to the rescue, but is it enough?
Guardian Unlimited - Didn't Mervyn King say he wouldn't 'bail out' banks that had made bad decisions? Yes, but this tough line has crumbled as the seriousness of the credit crunch has ... wider range of assets to be used for this - including government bonds and mortgage ...
2007-12-16 02:11:00 -
DRIVING DETROIT: It's worse than you think -- but better, too
Detroit Free Press - ... father, Walter Martin have seen things in their neighborhood go from good to bad ... Kilpatrick has been a big supporter of the neighborhood, and local officials credit ... city services, from answering police calls to picking up trash, and the mortgage ...
2007-12-16 03:01:00 -
SUBPRIME SURVIVORS
New York Post - December 16, 2007 -- As mortgage delinquencies continue to expand, a bill that would help financially-strapped New Yorkers ... Bad credit score forced subprime refinancing; couldn't afford payments upon reset. Solution: After missing payments on reset ...
2007-12-16 12:59:00 -
Rental welcome mat is out -- for some (Los Angeles Times)
Landlords consider easing the way for applicants who lost homes in the sub-prime debacle. For Southern Californians losing their homes to foreclosure, there's both good news and bad as they enter the rental market. The good news is that there are plenty of rentals available. The bad news is that a foreclosure taints a credit record, making it harder to rent a place.
2007-12-16 12:15:04 -
Global economy to grow at slower pace, roiled by credit crisis and oil prices (Provo Daily Herald)
NEW YORK -- The world economy, buffeted by the credit crisis gripping financial markets, is expected to keep expanding in 2008 -- albeit at a slower pace -- with little fear of recession. But unlike past economic upswings driven by the U.S., Japan and Western Europe, the main engines of growth this time are predicted to be China, India and other emerging economies.
2007-12-16 12:07:43