Mortgage and Financial News From 2007-9-8 Page 15
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Survey finds high level of loan failure
MSNBC - ... to get financing for their new home, Popik said, noting that sales agreements often are contingent on buyers selling their current home. The survey also found that nearly half of borrowers with adjustable rate mortgages were not able to refinance ...
2007-09-04 05:59:00 -
Mortgage upheaval prompts fresh look at wholesale loans
Herald Tribune - The current upheavals in the home mortgage market have prompted me to take a closer look at the structure of the wholesale ... With my third pass, I changed the jumbo loan from a purchase loan to a cash-out refinance, and from full documentation to no ...
2007-09-08 01:48:00 -
Retiring on Your Home's Equity
Smart Money - Traditional ways to tap equity — home-equity loans, lines of credit or cash-out refinance loans — are rarely a smart decision for folks on a fixed income because they need to be repaid. Thanks to a run-up in condo prices, downsizing could leave ...
2007-09-07 01:38:00 -
Advice by Kenneth Harney : Conflicting home-value indexes show ...
Arizona Daily Star - The government's index taps into a vast housing database — the combined new loan and refinance transaction records of mortgage giants Fannie Mae and Freddie Mac — but omits home loan transactions on upper-bracket houses and jumbo loans above $417 ...
2007-09-08 12:08:00 -
Retiring on Your Home's Equity (Smart Money)
A soft real-estate market is threatening the home equity that many retirees count on.
2007-09-07 01:42:44 -
Advice by Kenneth Harney : Conflicting home-value indexes show importance of not overreacting (Arizona Daily Star)
How worried should homeowners or sellers be at the moment? Looking at two nationally quoted measures of home values, you might be perplexed.
2007-09-08 12:26:44 -
Countrywide cutting up to 12,000 jobs
Los Angeles Daily News - It's the second round of cuts this week for the nation's biggest mortgage lender ... They are taking the right action and the right action is estimate how bad you ... Countrywide has already tapped an $11.5 billion line of credit and received a $2.5 ...
2007-09-08 12:58:00 -
Bleak US jobless report may spark Fed rate cut
Gulf Daily News - Forecasts on interest rates have altered dramatically since the credit crisis, stemming from mass defaults on US ... IndyMac Bancorp was the latest lender bringing bad news in the mortgage sector, saying it will cut 1,000 jobs and may halve its ...
2007-09-08 12:36:00 -
Economy loses jobs for first time in 4 years
St. Louis Post-Dispatch - ... have cut jobs, raising new fears that a deep housing slump and a painful credit ... The odds of a bad outcome have gone up, and, therefore, it makes sense for the ... as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage ...
2007-09-08 01:12:00 -
Likelihood of Fed Rate Cut Less Clear
Caspar Star-Tribune - ... to 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 01:05:00 -
SPECIAL REPORT: Subprime’s Silver Lining
Los Angeles Business Journal - ... broad credit squeeze and fears of a recession. A description of summer 2007 in Los Angeles? Try 1989, as the savings and loan debacle unfolded, and S&Ls – the major mortgage lenders of their day – failed left and right after making scores of bad ...
2007-09-08 01:33:00 -
Employers drop 4,000, raising recession fears
Philadelphia Inquirer - The drop in employment, following a monthlong increase in the cost of credit prompted by losses in the mortgage market, is the clearest sign yet ... The odds of a bad outcome [for the economy] have gone up, and, therefore, it makes sense for the Fed to ...
2007-09-08 12:15:00 -
1. Americans are loaded with credit card debt.
CNN Money - Some debt is bad. Don't use a credit card to pay for things you consume quickly, such as meals and vacations, if you can't afford to ... Don't be so quick to pay down your mortgage. Don't pour all your cash into paying off a mortgage if you have other ...
2007-09-07 11:57:00 -
Paulson on credit markets: We'll work through it
CNN Money - ... that it will take time for financial markets to work through the current credit ... hit with full force in mid-August, but he cautioned that there would be more bad ... pushing a variety of legislative proposals to deal with a rising flood of mortgage ...
2007-09-07 11:57:00 -
Foreclosures hit those with good, bad credit
Chicago Tribune - The number of U.S. homes entering foreclosure broke a record during the second quarter, as more homeowners with good and bad credit struggled to make mortgage payments, according to the Mortgage Bankers Association. Nationally, 5.12 percent of ...
2007-09-07 12:40:00