Mortgage and Financial News From 2008-12-22 Page 01
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How to Fund Retirement Living - Wall Street Journal
Older Americans who banked on selling their homes to finance care in assisted-living facilities and retirement communities have seen their dreams go up in smoke amid the housing-market bust. At the same time, their investment portfolios have nose ...
2008-12-21 05:58:00 -
Senior Home Buyers Allowed To Use Reverse Mortgage - Hartford Courant
Beginning Jan. 1, home buyers 62 and older will be able to buy a house using a reverse mortgage, as long as it's their primary residence. Traditionally, people obtained reverse mortgages to take equity out of their existing homes to help them meet ...
2008-12-21 01:59:00 -
(AFX UK Focus) 2008-12-22 09:54 Kenya's Co-op shares debut 42 pct up, but reverse (Interactive Investor)
NAIROBI, Dec 22 (Reuters) - Shares in Kenya's fifth biggest bank by assets, Co-operative Bank, rose 42 percent on their debut at the Nairobi bourse on Monday, before retracing back to near offer levels on slow demand. The stock traded at 13.50 shillings ($0.178) at the start of trade compared with the 9.50 shillings issue price. But it retraced to 9.55 shillings by 0830 GMT on low investor ...
2008-12-22 04:15:28 -
Q3 2008 'Flow of Funds' (Asia Times)
As I have highlighted in the past, in the US Total Non-Financial Credit (NFC) expanded US$578 billion in 1994. By 1998, annual NFC growth exceeded $1.0 trillion for the first time.
2008-12-22 04:36:11 -
Reverse mortgage not always best choice (Bankrate.com via Yahoo! Finance)
Many questions need to be answered before an elderly family member signs up for a reverse mortgage.
2008-12-22 05:00:00 -
Remember Christmas Clubs (Northern Express)
Some readers may remember Christmas Clubs -- a way to save for the holidays all through the year that has disappeared in recent years -- soon to become a forgotten tradition.
2008-12-22 09:28:09 -
Economic Recovery Bill Could Be First of Several To Move in January (CQPolitics.com via Yahoo! News)
Democratic leaders in Congress are in discussions with President-elect Barack Obama's transition team to determine how much legislation they want to move in the early days after Congress convenes Jan. 6.
2008-12-22 10:11:21 -
Post-layoff assistance (CNN Money)
This holiday season folks are thinking more about their bottom line than presents and mistletoe, and some are just struggling to keep their heads above water.
2008-12-22 02:50:26 -
US housing crisis worsens as economy weakens - ABS-CBN
WASHINGTON - The desperate straits of many US homeowners showed in new data released on Monday, suggesting efforts to help them are having limited success. As the recession throws more people out of work, the rate of re-default on modified mortgages ...
2008-12-22 08:27:00 -
Pennsylvania Real Estate Investment Trust Completes $173 Million in ... - Marketwatch
, , ) announced today that it has completed three non-recourse mortgage loans with total proceeds of $173 million that are secured separately by Exton Square, Francis Scott Key and Viewmont Malls. Year to date, the Company has completed 14 financings ...
2008-12-16 05:54:00 -
High interest rates took toll on families - News.com.au
Figures show 1300 families lost homes Economist says rates were set too high Can you afford to borrow? Property guides THE recent interest rate cuts have came too late for many with figures showing almost 1300 families in one state had their ...
2008-12-22 08:05:00 -
Repeat Failures on Home Loans Reveal Faulty Modifications (PR Newswire via Yahoo! News)
The following is a statement by Michael Calhoun, President -- Center for Responsible Lending:
2008-12-22 06:28:00 -
Toyota expects £1.1bn loss a year after record profits (Independent)
The crisis facing the world's largest car-makers intensified yesterday as the Japanese giant Toyota, which last year reported record profits, forecast its first annual operating loss. The world's biggest car-maker blamed a continued slide in vehicle sales and a rise in the Japanese yen for the first such loss in its 71-year history.
2008-12-22 06:50:47 -
Bruggemann: Pavao "got what he deserved" (Fall River Herald News)
The owner of the vacant Bedford Street police station, upon hearing the original owner has been jailed in Florida in an alleged mortgage fraud scheme in that state, said former Fall River resident John Pavao “got what he deserved.”
2008-12-22 07:05:58 -
How to Fund Retirement Living (WallStreet Journal via Yahoo! Finance)
In these rough economic times, funding long-term care poses a challenge for seniors and their families. Here are some strategies you can pursue.
2008-12-22 07:42:48