Mortgage and Financial News From 2007-9-8 Page 13
Previous Day: 2007-09-07
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Use your home's equity, but don't forget the debt
National Post - They receive an upfront payment from the lender or arrange a regular series of payments over time. These payments are considered tax-free, which promoters depict as another benefit. However, with a reverse mortgage, home equity gradually decreases as ...
2007-09-08 12:08:00 -
Countrywide plans huge cuts
Seattle Times - LOS ANGELES — Struggling lender Countrywide Financial said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. ... During the past two years the growth in home-price ...
2007-09-08 12:15:00 -
IndyMac to cut 1,000 jobs, possibly its dividend
Los Angeles Times - Warning of a likely third-quarter loss, mortgage lender IndyMac Bancorp said Friday that it planned to lay off about 1,000 ... Are you in default on your home loan or in danger of foreclosure? Tell us your story by e-mailing subprime@latimes.com ...
2007-09-07 12:05:00 -
News Minute: Bush says Osama video shows Iraq's importance...Protests ...
WDAM-TV - This Week in House and Home House & Home Main Today's Mortgage Rates In the Know Movie ... LOS ANGELES (AP) - The mortgage industry credit crunch is hitting hard at Countrywide Financial. The struggling lender says it's cutting as many as 12,000 more ...
2007-09-07 11:39:00 -
JOBS DISAPPEAR
New York Post - September 8, 2007 -- Sharply shrinking payrolls - with a surprise 12,000 jobs slashed at ailing home lender Countrywide - are ... In August, 30,000 jobs were wiped out in the mortgage industry alone. The news triggered a plunge of nearly 2 percent ...
2007-09-08 01:41:00 -
Fight back against rising interest rates
Times Online - Unlock the value in your home A simple way to make an extra £200plus a month is to let a room ... Melanie Bien, of Savill’s Private Finance, the mortgage broker, points out that you should notify your lender if you plan to let a room but adds: “It ...
2007-09-08 04:25:00 -
Suit over warning of layoffs rejected
Times Union - As a subprime lender, it made mortgage loans to consumers with poor credit reports. Bear Stearns provided NFC with financing to help ... 50% off Times Union home delivery. Subscribe today!
2007-09-08 01:55:00 -
US mortgage lender slashes jobs
BBC News - The biggest mortgage lender in the United States, Countrywide Financial, says it is making big job cuts. Countrywide's Chief ... During the past two years the growth in home price appreciation has stopped dead in its tracks," wrote Mr Mozilo in a ...
2007-09-08 12:36:00 -
Citigroup Unit Won't Take New Mortgage Bank Clients (Update2)
Bloomberg - Melville, New York- based American Home Mortgage Investment Corp., the 10th-largest mortgage lender in the first half of 2007, sought court protection from creditors after a similar cash shortage. Citigroup agreed last week to buy the ...
2007-09-07 12:05:00 -
Home loan giant to slash payroll
Baltimore Sun - LOS ANGELES - Struggling lender Countrywide Financial Corp. said yesterday that it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. Countrywide, the nation's largest home mortgage company ...
2007-09-08 12:15:00 -
European Stocks Decline on U.S. Growth Concern; Banks Retreat
Bloomberg - Lehman Brothers Holdings Inc. cut its recommendation for the mortgage lender's shares to ``underweight,'' saying rising loan costs may erode earnings. `Material Hit' Commerzbank AG, Germany's second-biggest lender, fell 4.9 percent ...
2007-09-08 02:16:00 -
Mortgage lender Countrywide to cut as many as 12,000 jobs (The San Francisco Examiner)
LOS ANGELES ( Map , News ) - Struggling mortgage lender Countrywide Financial Corp. will cut as many as 12,000 jobs in a bid to slash costs and cope with soaring foreclosures and defaults, the company said Friday.
2007-09-07 05:09:21 -
Mortgage lender Countrywide to cut as many as 12,000 jobs (Canadian Business)
Alex Veiga September 7, 2007 - 7:18 p.m. LOS ANGELES (AP) - Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the U.S. mortgage industry.
2007-09-07 04:36:30 -
Mortgage lender cuts 12,000 jobs (Deseret Morning News)
Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
2007-09-07 11:22:35 -
US mortgage lender slashes jobs (BBC News)
Countrywide, the biggest US mortgage lender, will cut up to 20% of its staff, as business slumps.
2007-09-07 07:30:36