Mortgage and Financial News From 2008-10-8 Page 01
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Blame game starts closer to home - Norristown Times Herald
George W. Bush. Greedy Wall Street fat cats. Deregulating Republicans. Predatory lenders. There are plenty of bogeymen around to blame for our declining economy. If you don't want to think about it too hard. A financial crisis of this magnitude doesn ...
2008-10-08 09:17:00 -
Fed slashes rates, but Wall Street still tumbles - WNYT
(AP) WASHINGTON - Even an orchestrated round of rate cuts by the world’s central banks was not enough to stem the bleeding on Wall Street. The Federal Reserve, desperately trying to jump-start the lending that keeps the U.S. economy moving, on ...
2008-10-08 09:53:00 -
Federal Reserve orders emergency half-percentage-point rate cut - Los Angeles Times
WASHINGTON -- Emergency interest rate cuts Wednesday by the Federal Reserve and five other central banks left in doubt whether government efforts to cure the financial crisis would show results fast enough to avert fresh panic and serious economic ...
2008-10-08 10:43:00 -
McCain's befuddling $300-billion mortgage-crisis plan - Globe and Mail
WASHINGTON — John McCain is calling for another surge. Why he's calling for it is understandable. It's the how part that's baffling. At the beginning of Tuesday night's presidential debate, Mr. McCain unveiled a hugely ambitious and hugely ...
2008-10-08 10:08:00 -
2 banks pass on only part of Canada's rate cut - Forbes
Two of Canada's biggest banks have declined to pass on to consumers the full half percentage point cut in interest rates announced by central banks around the world Wednesday, citing turmoil in raising money in turbulent financial markets. One of ...
2008-10-08 12:35:00 -
Pending home sales rise 7.4% against trend (El Paso Times)
WASHINGTON -- Pending home sales were up 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market.
2008-10-08 11:06:24 -
SCORE: Self-funding can work, but watch those pitfalls (Cape Cod Times)
Loans are a great, affordable way to get a small business off the ground. But they're not for everybody — especially in the current financial climate.
2008-10-08 11:08:07 -
Rate cuts no panacea (Cape Cod Times)
WASHINGTON — Will U.S.
2008-10-08 11:08:37 -
Down market hits 1-year mark with no clear bottom (Lincoln Journal Star)
CHICAGO — The bear market that is ravaging investor portfolios is now one of the worst in modern U.S. history and has wiped out more than $7 trillion in shareholder value, with no bottom clearly in sight.
2008-10-08 11:09:21 -
Fraudulent Friend (The Jewish Journal of Greater Los Angeles)
A quadriplegic is one of 800 victims in an alleged investment scheme. After being left a quadriplegic in a car accident in 1993, 53-year-old Alice Wintz received an insurance settlement that she thought would, with careful investing, leave her financially secure for life.
2008-10-08 11:09:24 -
Bernanke, Paulson Seek Global Help as Crisis Rebuffs U.S. Steps (Bloomberg)
Oct. 9 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson are discovering both the leeway and limits they have as policy makers as they struggle to combat the 14-month-old credit crisis.
2008-10-08 11:10:09 -
Average farmer saves $3000 from interest rate cut (Stock & Land)
Provided the rural banks pass on Tuesday's 1pc interest rate cut in full, the average Australian farmer should save $4000 on their mortgage each year.
2008-10-08 11:10:18 -
Pastor, mortgage broker school investors in real estate market - Palm Beach Interactive
Anything sound odd about this deal? Back in 2006, Sharon Schofield back paid $365,000 for a home at 1000 N.E. County Line Road in Jensen Beach, according to property records. Three months earlier, Rodney and Shalonda McGill had paid $210,000 for the ...
2008-09-16 05:54:00 -
A Guide to Mortgage Shopping - ABC News
If you're a first-time homebuyer, get a hold of every book and pamphlet you can about mortgages. Also consider taking a home buying class. Fannie Mae and Freddie Mac offer first-time homebuyer classes. If you complete the class, you prequalify for a ...
2008-10-04 10:34:00 -
Delray Beach mortgage broker pleads guilty to fraud - South Florida Business Journal
A Delray Beach man has pleaded guilty to wire fraud in connection with a scheme to steal more than $1.2 million in client money. John Mohan, 38, worked as a mortgage broker and closing agent, collecting money from buyers and lenders. He would tell ...
2008-09-18 05:59:00