Mortgage and Financial News From 2008-12-1 Page 01
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RBS plans to delay home repossessions - The Money Times
London -- The Royal Bank of Scotland plans to allow troubled homeowners a six-month grace period before repossessing their homes, sources said. One source said RBS, which sold 57.9 percent of its shares to the government last week, had recognized ...
2008-12-01 06:57:00 -
State must end mortgage abuses - Detroit Free Press
Being forcibly removed from one’s home is one of the most stressful and devastating events a family can experience. This happens all-too-often in Michigan, as predatory home loans have jeopardized entire communities and seriously damaged our state ...
2008-12-01 05:31:00 -
Credit Market Risks Rise as Economic Slump Claims Industrials - Bloomberg
Dec. 1 (Bloomberg) -- The cost of protecting U.S. corporate bonds and loans from default rose as two companies filed for bankruptcy and Federal Reserve Chairman Ben S. Bernanke said the economy will remain weak. Credit-default swaps on the Markit CDX ...
2008-12-01 05:17:00 -
It pays to wait on fixing home rates - The Australian
Even though interest rates have fallen substantially in the past few months and the idea of fixing your repayments around current levels may seem attractive, be warned that rates are predicted to fall much further. Fix now for three years at around 6 ...
2008-12-01 08:45:00 -
Uncle Sam needs to go shopping. Not us (Salon.com)
You want that discounted flat-screen TV. You want to help boost the economy. But I've got news for you.
2008-12-01 08:23:07 -
Self-Employed Are Frozen Out of Mortgages (WallStreet Journal via Yahoo! Finance)
The government's efforts to jump-start lending are bypassing the self-employed.
2008-12-01 08:46:50 -
A Long Awaited Homecoming (R News)
After three long years, a Rochester area soldier has finally come home. Sgt. Erik Granito has been stationed in Germany and Iraq and just completed a second tour of duty in the Middle East.
2008-12-01 09:05:33 -
HSBC Increases Hong Kong Mortgage Rates by the Most in a Decade (Bloomberg)
Dec. 2 (Bloomberg) -- HSBC Holdings Plc raised its Hong Kong mortgage rates by the most in a decade to maintain profitability on home loans. HSBC, the bank with the most branches in Hong Kong , will charge 1.5 percentage point below its so-called best rate for mortgages above HK$1.5 million ($194,000), spokeswoman Louisa Leung said.
2008-12-01 09:12:08 -
Bernanke: lower interest rates are "feasible" (Norwalk Advocate)
WASHINGTON - Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year.
2008-12-01 09:18:18 -
Vacant Stores Don't Worry Town Supv. (R News)
Despite the recession, the closing of two stores in Henrietta doesn't worry the town supervisor. Bankruptcy created two empty store fronts in the Jefferson Road retail area.
2008-12-01 09:20:43 -
Wall Street cloud darkens Lehigh Valley - Allentown Morning Call
Citigroup : 70,000. Wachovia : 10,000. Merrill Lynch: 5,100. Some of the biggest names in finance have been forced to shed thousands of jobs from their banking, mortgage and brokerage arms amid the economic calamity roiling the world's markets. Even ...
2008-12-01 02:04:00 -
Brokerage firm says Gateway owes it $2.4 million - HamptonRoads.com
An investment banking and brokerage firm has sued Gateway Financial Holdings Inc., contending that the parent of Gateway Bank & Trust Co. refused to pay $2.4 million for work and expenses related to helping Gateway raise additional capital. Stifel ...
2008-12-01 07:33:00 -
2008: Year of global financial crisis - Economic Times
The biggest financial crisis since the Great Depression nearly 80 years ago has hit the world this year. Here are some key dates: January 11: Bank of America pays $4 billion for Countrywide Financial after the mortgage lender goes bust when risky ...
2008-12-01 02:47:00 -
Paid promissory notes in jeopardy - Rockford Register-Star
Some investors who received money from promissory notes at Commercial Mortgage & Finance in the past three months are being told to return the funds, even though the company owes more than $60 million to its investors. What’s next Commercial ...
2008-12-01 11:48:00 -
St. Joe County sets timetable - WNDU
St. Joseph County finally has a clue how and when it will collect property taxes for this year. The bills are being sent out much later than usual, and, for some, they should come uncomfortably close to the holidays. St. Joseph County Treasurer Sean ...
2008-12-01 05:03:00