Mortgage and Financial News From 2008-11-8 Page 01
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Lenders seldom renegotiate mortgage - Billings Gazette
Unlike during the old days when your mortgage stayed with your "friendly neighborhood bank" down the street, the majority of loans today are immediately sold into the national marketplace. There they are sliced up and resold as a new animal: mortgage ...
2008-11-02 01:38:00 -
Street talk - Kansas City Star
“In my opinion, look for 50 percent of the hedge funds to go out of business. As far as the housing market, 75 percent of the people in foreclosures were paying on the mortgages, so those will eventually be worked out.” “To be certain, Wall ...
2008-11-07 05:53:00 -
Final statement: Greedy banks are shedding crocodile tears for savers - Scotsman.com
een nicer if our betters could have been born to superior perception, rather than had it thrust upon them. But when officials at the Bank of England finally bit the bullet, in what could only be seen as a humiliating U-turn, surely the mortgage banks ...
2008-11-08 05:59:00 -
It Pays to Keep Your Credit Clean - Wall Street Journal
If you're planning on waiting out this housing downturn, intending to buy a home when the coast is clear, you'd better start checking your credit reports now. There may be some surprises waiting for you. Credit-card companies are reducing credit ...
2008-11-08 10:52:00 -
Banks defy Gordon Brown over new interest rate cut - Times Online
High Street banks have told Alistair Darling that they will not pass on any further interest rate cuts to consumers and businesses. At an emergency meeting, bankers warned the chancellor that they were “not charities”. They said they could not ...
2008-11-08 04:54:00 -
Halifax threat to pocket Bank cuts - Times Online
Halifax, one of Britain’s biggest mortgage lenders, is threatening to deprive as many as 500,000 homeowners of further rate cuts because of a sneaky clause in their contracts. Millions of homeowners cheered the Bank of England’s 1.5 percentage ...
2008-11-08 05:16:00 -
Obama calls McCain mortgage plan ill-advised (The Daily American)
DAYTON, Ohio — Democrat Barack Obama told a campaign audience Thursday that Republican John McCain’s mortgage buyout plan would cost taxpayers billions of dollars and reward bad behavior by lenders.
2008-11-08 11:00:49 -
Lenders make big deal out of 'comps' (Boston Herald)
How fresh are your "comps" -the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned...
2008-11-08 11:01:47 -
Area housing market up and down (Mankato Free Press)
Lower sales result in lower home prices, greater selection.
2008-11-08 11:05:25 -
How the thundering herd faltered and fell (International Herald Tribune)
Merrill Lynch couldn't escape the U.S. housing crash as record waves of homeowners defaulted on their mortgages, breaking its investments in mortgage derivatives.
2008-11-08 11:11:42 -
Struggling Martin County housing market could force $12 million in budget cuts (Stuart News)
Martin County's financial picture is getting bleaker as declines in home prices and consumer spending lead to lower property and sales tax income, Martin County Administrator Duncan Ballantyne said. Anticipated spending cuts of $11 million to $12 million face the County Commission in the upcoming budget, Ballantyne said. The situation has worsened since Oct. 27, when Ballantyne predicted ...
2008-11-08 11:13:07 -
Shoring up your mortgage (The Charlotte Observer)
(By Christina Rexrode, crexrode@charlotteobserver.com) The latest trend in the housing downturn is finding ways to help struggling homeowners make their mortgage payments. The government, banks, housing counselors and other observers are all weighing in with plans for mortgage modifications, also called loan workouts. Three major programs unfurled last month by the Federal Housing ...
2008-11-08 11:17:24 -
Obama wants to limit foreclosures - but how? (San Francisco Chronicle)
Given the severity of the housing crisis and its large role in the economy, it is likely to be a priority for Barack Obama. On the campaign trail, the president-elect proposed a 90-day moratorium on foreclosures, giving Bankruptcy Court judges the right to...
2008-11-08 11:20:45 -
Tighter oversight of financial services needed (San Francisco Chronicle)
After President-elect Barack Obama takes the oath of office, an urgent priority will be imposing strict regulations on the financial services industry, to stabilize the system at the heart of the economic breakdown and ensure that a similar crisis doesn't...
2008-11-08 11:21:16 -
Keep cool to keep your home (Sun Newspapers)
The thousands of panicked homeowners struggling to maintain possession of their Florida homes would do well to keep their composure, experts say. "Being served is not the kiss of death," said Lubov Kiselev, a licensed North Port real estate broker with 11 years experience.
2008-11-08 11:30:50