Mortgage and Financial News From 2007-9-8 Page 3
Previous Day: 2007-09-07
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10 tips on paying your children's school fees
Times Online - Say you have a £100,000 mortgage and £30,000 in savings, you would only be charged interest on £70,000. Your mortgage would be cleared more quickly because your repayments would be based on the full £100,000 so you would in effect overpay each ...
2007-09-08 03:17:00 -
Mortgage lender Countrywide to cut as many as 12,000 jobs (Naples Daily News)
Struggling lender Countrywide Financial Corp. will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry, the company said.
2007-09-08 06:03:34 -
Three houses? Pick two for tax write-offs (Los Angeles Times)
Why is mortgage interest deductible without limit on two homes and not just the primary residence?
2007-09-08 05:22:47 -
New mortgage foreclosures hit record high (Pasadena Star-News)
WASHINGTON - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified.
2007-09-08 03:26:43 -
Traverse the mortgage maze (The Scotsman: Business)
ACROSS the UK some two million homeowners are set to come off low fixed-rate deals in the next 18 months, and could see their interest rate shoot up from around 4.5% to around 7.6% unless they take action.
2007-09-08 04:53:11 -
Jobs decline rattles economists
Los Angeles Times - Home & Garden ... for the first time in four years, indicating that damage from the sub-prime mortgage ... further boosted speculation that the Federal Reserve would cut interest rates to ...
2007-09-07 12:05:00 -
First-time buyers better off up north
Observer - ... it more difficult to afford a property than at any time since the end of 1990 as a result of rising interest rates ... 34,000) buying their first property will have to spend an average 51 per cent of their combined take-home pay on their mortgage, says ...
2007-09-08 03:45:00 -
Share tips: Don't be tempted by 'cheap' bank shares
Daily Telegraph - At face value, shares in Britain's major high street banks and mortgage lenders now ... As a result, the interest rates at which banks lend to one another, particularly ... is ceding his post to David Tyler, who cut his teeth in retail at GUS and Home ...
2007-09-08 04:57:00 -
Don't rely on your home's equity to finance retirement
St. Petersburg Times - Your home might come to your rescue through a reverse mortgage, but it's best to keep that possibility in reserve as a backup strategy for your late ... The chief disadvantages are that fees and interest rates are higher than for conventional mortgages ...
2007-09-08 05:40:00 -
Gold Rush
Egypt Today - ... manipulation of a sloppy, nascent market economy, migrated from the lowest socio ... The schemes offered returns at astonishing rates of up to 35 percent; banks, with ... A much-needed mortgage law began to be debated. The seeds of social unrest were being ...
2007-09-08 06:59:00 -
Stocks Gain on Retail Sales, Jobless Claims
MSNBC - ... for concern, dropping from 51.5 to 47.9, the lowest reading since December, 2002, and possibly a harbinger of negative news in Friday's payrolls report, Action Economics said. ... If he didn't plan to ease rates, Fed Chairman Ben ...
2007-09-07 12:05:00 -
Our housing bubble may be next to pop
National Post - The lowest interest rates in 40 years fuelled this boom, and as prices and mortgage sizes have risen, financial institutions have "helpfully" come up with new affordability strategies, such as putting only 5% or even a zero down payment and extending ...
2007-09-08 07:53:00 -
Vermont boasts low mortgage delinquency, foreclosure rate
WCAX - MONTPELIER (AP) - Vermont continues to have 1 of the lowest mortgage delinquency and foreclosure rates in the nation. So says the Mortgage Bankers Association, which said in a report yesterday that Vermont's rates are the lowest in New England, even ...
2007-09-07 11:43:00 -
Fed faces growing pressure for rate cut
Daily Telegraph - ... growing on the US Federal Reserve to announce an emergency cut in interest rates ... After the market closed, mortgage lender Countrywide Financial announced it is to cut ... the greenback against a basket of currencies, dropped to 79.895, its lowest level ...
2007-09-08 01:44:00 -
A Successful Balancing Act
MSNBC - The major stock markets had just clawed their way back to their levels of seven years ago. Long-term holders finally were making money. Then a string of financial IEDs, linked to shaky mortgage loans, blew up their hopes. The professionals panicked ...
2007-09-08 07:24:00