Mortgage and Financial News From 2007-12-16 Page 19
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Mortgage crisis takes toll on retail
Pasadena Star-News - Last year, Leo Rojas could spend liberally on Christmas gifts for his 7-year-old son and 14-year-old daughter and the employees at his Miami-based mortgage company, which was processing 50 home loans a month. He bought a video game system and a slick ...
2007-12-16 12:23:00 -
Subprime mess and Clinton
Miami Herald - So, lenders knew their loans would not be fully repaid? Jesse Jackson speaks of ''victims of aggressive mortgage brokers.'' But given that foreclosure is usually a net loss for all parties to the transaction, what explains the ''aggression''? Who ...
2007-12-15 11:55:00 -
Senate OKs bill to allow FHA to back more loans
Billings Gazette - WASHINGTON - The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would allow the ...
2007-12-15 11:55:00 -
The face and voice of Quicken/Rock leaves
Detroit Free Press - David Hall, the ubiquitous television and radio pitchman for Rock Financial, the Michigan mortgage-lending arm of Quicken Loans, has left the Quicken/Rock organization. "David Hall is no longer employed by Quicken Loans/Rock Financial. Out of respect ...
2007-12-16 12:02:00 -
Rachel Beck: Homeowners bail on loans due to more than just mortgage ...
White Plains Journal News - If the government wants to stop home foreclosures from surging, here's a simple plan: Boost Americans' income, put more funding toward medical research and insist on marriage counseling for all. And then start buying up land to raise housing prices ...
2007-12-15 11:19:00 -
Housing spasms won't stop soon
Philadelphia Inquirer - Lehman analysts estimate that almost 1 million mortgage loans will default in 2008, up from about 300,000 this year. "We're only halfway through the housing shock," said Ethan Harris, chief U.S. economist at New York-based Lehman. "It's just a matter ...
2007-12-15 11:55:00 -
Seniors at risk from predatory lenders
Miami Herald - In fact, the Senate on Friday passed bipartisan legislation that removes the cap on the number of reverse mortgage loans that the Federal Housing Administration can insure. But as the popularity of reverse mortgages grows, the industry is proving ...
2007-12-15 11:55:00 -
Rachel Beck: Homeowners bail on loans due to more than just mortgage-rate resets (The Journal News)
If the government really wants to stop home foreclosures from surging, here's a simple plan: Boost Americans' income, put more funding toward medical research and insist on marriage counseling for all. And then start buying up land to raise housing prices.
2007-12-15 11:40:54 -
Senate OKs bill to allow FHA to back more loans (Billings Gazette)
WASHINGTON - The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
2007-12-16 12:20:01 -
Banks offer billions to fend off recession
Times Online - ... also now accept a greatly widened range of assets as security for the funds, including high-grade bonds linked to mortgage ... But these senor tranches get the lowest rates on interest; so none of these banks invested here but invested in the more risky ...
2007-12-12 03:59:00 -
Property confidence lowest for a decade
This is Money - Rics said price expectations had hit the lowest level since October 1998 and that newly agreed home sales had declined at ... by elevated house prices, modest real disposable income growth and the still significant overall rise in mortgage rates since ...
2007-12-12 03:59:00 -
Credit reports are critical to financial health
Anderson Independent-Mail - When you have excellent credit, you will be able to connect your utilities and sign cell phone contracts without a deposit. You will qualify for the lowest interest rates on a home mortgage and obtain the best premiums on insurance. All for managing ...
2007-12-14 03:56:00 -
Could you have to pay AMT?
Kane County Chronicle - Taxpayers must calculate their payments under the regular income tax system and the AMT, and then pay whichever is more. Who ... They include income from exercised stock options or interest paid on a mortgage not being used to buy, build or ...
2007-12-14 03:56:00 -
Michelle Singletary: Money worries? Rewrite script
Omaha World-Herald - They have a townhouse with a small mortgage that they've been renting out while living overseas. "We have no debts other than ... You calculate your net worth by adding up your assets and subtracting your liabilities. On the asset side you list, among ...
2007-12-15 08:42:00 -
Some Fear They'll Never Have Enough (The Tampa Tribune)
The online discussions I host give me an opportunity to see the financial issues that trouble people the most. Often what I find are people racked with fear.
2007-12-15 09:19:45