Mortgage and Financial News From 2007-12-2 Page 10
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High-rate lending hits home in Kern
Bakersfield Californian - Three types of loans: home purchase, refinance and home improvement. Why medians? Median values are those at the mid-point of a given set of numbers, with half of the numbers higher and half lower. Medians are sometimes preferred over averages because ...
2007-11-30 03:59:00 -
Examining the subprime-lending crisis
Denver Post - Phyllis Gilpatrick was in a nursing home, recuperating from her third hip surgery, on the day she and her husband ... lending has enabled millions of Americans to buy homes, many for the first time, or to refinance their homes to pay off medical ...
2007-12-02 12:22:00 -
Faces of foreclosure
Vacaville Reporter - The broker was a "friend of a friend" who talked them into a refinance to remodel the home, giving the Vacaville house a $700,000 appraisal. The $168,000 refinancing loan adjusted for a higher interest rate after only about three months, she said ...
2007-12-02 11:53:00 -
Homeowner says he's done worrying about payments
Lansing State Journal - Two years later, Evans said he and his wife, Gloria, can’t find a lender willing to refinance their $152,000 ranch-style home in Holt. Evans and his wife bought their home four years ago with another ARM, with an interest rate of 8.82 percent ...
2007-12-02 10:06:00 -
Treasury plan to rescue home loan borrowers not a solution for all ...
International Herald Tribune - During the sunny days of the housing boom, many buyers were banking on the prospect that they could refinance into more affordable loans as the value of their homes soared. Now that home prices are dropping in large parts of the country, and broader ...
2007-12-02 12:29:00 -
Experts: Bailout not complete solution (AP via Yahoo! News)
If lenders temporarily freeze low introductory interest rates on home loans made to risky borrowers before they soar, it would be a modest fix for the country's fractured housing market.
2007-12-02 12:42:38 -
Tough choice: Home or holidays? (The Post-Standard)
Susan and John Harriman normally spend about $500 on holiday gifts - $100 on presents for each other, $50 on their 29-year-old niece, then $25 on all of their other family members. But this season, the couple has a wrenching choice to make: celebrate Christmas or keep their home out of foreclosure.
2007-12-01 09:13:35 -
Ailing cash fund gets bailed out by Federated
Seattle Times - ... of money-market accounts in the U.S., bailed out its Enhanced Reserve cash fund as declines in mortgage-backed securities caused the credit ... provide as much as $600 million to money funds and institutional cash funds that have been hurt by bad ...
2007-12-02 12:19:00 -
With Chavez's hand on the oil spigot ...
San Francisco Gate - And with America teetering on the edge of recession because of the sub-prime mortgage credit crisis and other economic problems ... But while President Bush worries about Iran, Syria and other bad actors on the other side of the globe, he might start ...
2007-12-02 07:21:00 -
Picking loans
This is Money - It could be for a car, home improvements, or even to pay off credit card bills in ... Shop around - your mortgage lender may offer you a preferential rate, for example ... want to make sure that you are a good risk and do not have a history of bad ...
2007-12-02 10:48:00 -
Art of the Con
Philadelphia Inquirer - ... paid him $24,000 to leave, but not before the woman had racked up $85,000 in credit ... In Grossman's version, she was but one in a bad run of needy, embittered ... He was really pressuring me to mortgage my house. He was saying, 'I won't let you ...
2007-12-02 09:58:00 -
US Treasury Near Deal to Aid Struggling Homeowners
CNBC - News of the initiative helped lift U.S. stock prices, which had been battered in recent weeks by growing global credit strains and billions of dollars of write-downs on bad mortgage bets by major financial institutions. "If credit concerns can ease ...
2007-11-30 01:43:00 -
U.S. Credit Crisis Adds to Gloom in Norway
New York Times - ... least likely ones so far — of the credit crisis that began last summer in the American subprime mortgage market and has spread to the farthest reaches of the world, causing untold losses and sowing fears about the global economy. Where all the bad ...
2007-12-02 08:32:00 -
U.S. credit crisis adds to gloom in Arctic Norway (International Herald Tribune)
Norwegian towns that lost millions in investments that went sour fear they will be forced to cut local services.
2007-12-01 08:59:36 -
How much to put in your emergency fund (Orlando Sentinel)
Age, other factors help determine right amount The stock market, with all its uncertainty over credit problems, remains shaky. People know how bad housing is. The economy is slowing down.
2007-12-02 01:28:59