Mortgage and Financial News From 2007-12-16 Page 8
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Lynn’s escape route
Sunday Business Post - October 13: A media report reveals a high-profile solicitor is involved in an alleged €30 million mortgage fraud and is being investigated by the Law Society. (This figure has since risen, and liabilities are now estimated to be about €80 million ...
2007-12-16 04:48:00 -
Legislation up for debate next year
Charlotte.com - It would also make mortgage fraud a felony. The rate of foreclosures in South Carolina is among the nation's worst, according to a recent report by the Corporation for Enterprise Development, an economic think tank. -Forbid illegal immigrants from ...
2007-12-16 11:01:00 -
Fed to propose new rules for mortgage lenders
CNBC - ... home loan. Improving financial disclosure so people better understand the terms and conditions of their mortgages and get this information when it is most useful. Curtailing abuses in mortgage advertising. "We have an obligation to prevent fraud and ...
2007-12-16 11:51:00 -
Fed To Propose New Rules For Mortgage Lenders (NBC 5 Chicago)
People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches.
2007-12-16 12:04:11 -
Hot line not so hot
The State - The White House plan does not force mortgage companies to give eligible homeowners a break. It is voluntary. The White House last week defended the system and its eligibility requirements. “I wouldn’t call them ‘hoops,’” White House deputy ...
2007-12-16 02:39:00 -
Licensing stores adds bureaucracy
Toledo Blade - So, will the banks and mortgage companies work with them? No, put them out on the streets and let another house stand empty. Can't pay Toledo Edison an upfront fee? Just turn their power off. What is happening to this country? Our government sends ...
2007-12-16 08:59:00 -
Greenspan Favors Government Bailout for Homeowners (Update1)
Bloomberg - ... Former Federal Reserve Chairman Alan Greenspan said he favors spending U.S. government money to bail out mortgage borrowers ... Working with Paulson and the government's housing regulators, lenders and the companies who manage home loans agreed to ...
2007-12-16 10:46:00 -
Dump your escrow, earn interest
Biloxi Sun Herald - Homeowners often make the mistake of not notifying their mortgage companies when their property values change, he said. No one knows how much tax bills will rise. The mortgage company does not adjust the escrow account - the money held by the company ...
2007-12-16 04:55:00 -
Home ownership key to healthy economy
New Braunfels Herald-Zeitung - ... will be the government and community social who will have to step in with financial aid if former subprime mortgage holders struggle to rebuild their finances while living in the rental housing market. Ultimately, lenders — both mortgage companies ...
2007-12-16 06:14:00 -
Construction rolls on
Charlotte.com - Major mortgage companies will help some homeowners stave off foreclosure by freezing rate hikes. Heightened consumer awareness could encourage people to buy only what they can afford. But many more homeowners nationwide are expected to lose their homes
2007-12-16 08:45:00 -
Working-class areas lead Nashville's foreclosures
Nashville Tennessean - The mortgage companies made it easy to do that." RealtyTrac identified 3,148 homes that have been the subject of a default, foreclosure or auction notice in the first nine months of 2007 — a broader measure that includes not just families who will ...
2007-12-16 08:59:00 -
Declining confidence must not derail recovery
Daily Yomiuri On-Line - It is increasingly necessary for the government and the central bank to carefully watch the sentiments of companies and consumers. The international financial markets have taken a long-term hit from the subprime mortgage loan problem. The first ...
2007-12-16 10:25:00 -
Greenspan Favors Government Bailout for Homeowners (Update1) (Bloomberg.com)
Dec. 16 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said he favors spending U.S. government money to bail out mortgage borrowers who risk losing their homes because they can't make payments.
2007-12-16 10:57:50 -
Family walks the tightrope of homeownership
Allentown Morning Call - A mortgage broker told him that he could swing a monthly mortgage payment of $1,250. ''I can't afford that,'' Newson told him. So he went to another mortgage broker -- who calculated the same number. A year of fending off brokers was starting to wear ...
2007-12-16 12:02:00 -
AP Business NewsBrief at 2:04 p.m. EST
CNBC - ... the Federal Reserve, suggested Sunday that a tax break or other government financial help for homeowners facing the mortgage ... The news was welcomed by the company that produces David Letterman's "Late Show," which said it hoped to broker a deal that ...
2007-12-16 11:01:00