Mortgage and Financial News From 2007-9-8 Page 01
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The Tao of Junk
Slate - ... Youngman economic era —the time when desperate lenders begged borrowers to take their money—has ended, thanks to mortgage defaults and a sudden realization that debt can go bad. And now there is a different sort of Youngmanism at work. With credit ...
2007-09-07 05:55:00 -
Congress should help borrowers in financial trouble
Citizen Tribune - These working and middle-class Americans who, perhaps because of bad credit or some financial holdup, took on a loan without a fixed interest rate or some other bad mortgage, are becoming the human face of the subprime mortgage industry’s crash ...
2007-09-08 05:33:00 -
Fed interest rate cut definitely not sure thing
Evansville Courier-Press - ... fund their operations, should be taken as a warning sign -- in flashing red -- that more bad ... He also won't use lower rates to bail out hedge funds or mortgage lenders who find themselves facing tough times as credit conditions tightened in recent ...
2007-09-08 09:58:00 -
US jobs take subprime hit, Countrywide plans steep cut
Economic Times - Countrywide was the latest lender bringing bad news in the mortgage sector, saying it plans to cut 10,000 to 12,000 jobs over the next three months, as it copes with declining housing volume and difficult credit markets. The job cuts represent up ...
2007-09-08 10:12:00 -
AP Business NewsBrief at 2:03 a.m. EDT
CNBC - ... cash to fund their operations, should be taken as a warning sign _ in flashing red _ that more bad ... jobs reported by the Labor Department Friday caps a summer of worrisome economic news _ soaring mortgage foreclosures, declining housing prices, credit ...
2007-09-08 10:55:00 -
Cards might be next in the credit crunch
Athens Banner-Herald - Mortgage debt and credit cards have become closely linked in recent years as interest rates hit post-war lows, and consumers were ... card delinquencies were relatively unchanged in the fourth quarter of 2006, at 4.56 percent of accounts, and bad ...
2007-09-08 09:50:00 -
EP mortgage firms dispel national gloom
El Paso Times - ... Yakubovsky, 36, who with his wife, Laura, bought a new house July 24, said the bad mortgage news made him concerned that his home deal might collapse if home loans became more difficult to get. Yakubovsky said he spent two years fixing his bad credit ...
2007-09-08 10:55:00 -
Stress test: Wall Street soon to reveal impact of credit crunch (MENAFN)
Stress test: Wall Street soon to reveal impact of credit crunch
2007-09-08 02:14:08 -
It?s Time to Take a Deep Breath (New York Times)
The subprime mortgage industry was far from an unmixed good, but it helped some people realize the American dream.
2007-09-08 12:21:01 -
Analyst: 'It'll Get Worse Before It Gets Better' (The Tampa Tribune)
Call it more bad news or perhaps a dose of reality, but Mike Larson, a real estate analyst with Weiss Research in Jupiter, takes a long view on any turnaround in the housing market. A student of the residential housing and mortgage market since 1998, Larson predicts the Tampa Bay area housing market has yet to hit bottom.
2007-09-08 06:08:57 -
EP mortgage firms dispel national gloom (El Paso Times)
Pam Sparks heard a big thud in July as the number of home mortgage applications seen at her company took a big drop.
2007-09-08 11:23:24 -
How will the global credit crunch impact on the GCC? (AME Info)
Gulf businessmen and women returning to their desks from the summer vacation are understandably concerned about what the tightening of global credit will mean for the GCC. Part of the problem globally is that nobody is entirely sure who has suffered most from exposure to US sub-prime mortgage bonds, and this is also an issue in the Middle East.
2007-09-08 01:32:00 -
BUSINESS NEWS
Birmingham News - ... of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages. ... AP) — Sun Microsystems Inc. intends to pull off a 1-for-4 reverse stock split to boost its share price and improve ...
2007-09-06 02:50:00 -
Government & Press
News Busters - That evening “World News” promoted a report that “calls for a national strategy to reverse this [obesity] epidemic ... in America” is calling for a full-fledged government bailout of homeowners who are struggling to pay their mortgages. Pimco ...
2007-09-06 02:58:00 -
Debt-Management Tips For Seniors
Click2Houston.com - Reverse Mortgages People struggling with high-interest credit-card debt are typically advised to tap the equity in their homes. But that's a bad idea for retirees. "I tend to cringe when I see seniors refinancing their houses at a late age," says ...
2007-09-06 03:05:00