Mortgage and Financial News From 2009-1-2 Page 01
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Mnuchin, Paulson & Co. in Group Buying IndyMac Bank (Update2) - Bloomberg
Jan. 2 (Bloomberg) -- Investors led by Steven Mnuchin , a former Goldman Sachs Group Inc. executive, agreed to buy IndyMac Bank from the Federal Deposit Insurance Corp. and inject $1.3 billion in cash, a rare sale of a failed lender to non-bank ...
2009-01-02 05:58:00 -
A crowded kennel (The Globe and Mail)
RIM, Potash and Suncor may have led the pack astray, but the U.S. dollar and Wal-Mart offered some refuge for shell-shocked investors. The year's Stars & Dogs in review.
2009-01-02 10:24:20 -
Retirement Nest Eggs Cracking Across U.S. (The Lakeland Ledger)
The safety net is almost gone, the nest egg is cracking.
2009-01-02 10:25:34 -
FDIC Agrees to Sell IndyMac to Investor Group (Washington Post)
The federal government has agreed to sell the skeleton of IndyMac Bank, the aggressive California mortgage lender whose July failure portended the autumn crisis of the financial system, to a group of private investors.
2009-01-02 11:00:50 -
U.S. Debt Set to Soar in This Year (Washington Post)
With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending.
2009-01-02 11:01:19 -
Course aims to help couples right financial ship (Macon Telegraph)
Whether it’s making more money or managing it more efficiently, finances made a lot of people’s New Year’s to-do lists, and two Macon churches are offering help in keeping those resolutions.
2009-01-02 11:06:26 -
A recessionary approach to home ownership? (MSN Money Canada)
There is one way to get around the high cost of living and the high stress of recession. Buy a house and split it down the middle. When Sherryl Yeager and Tony Wyman purchased their 1905 east side Vancouver house together, they moved in then went their separate ways.
2009-01-02 11:15:24 -
Counseling for wary home buyers (San Francisco Chronicle)
From her snug one-bedroom condominium near San Francisco State University, Lea Azucena has watched family members struggle against foreclosure. The mortgage meltdown has claimed the financial stability of countless other first-time home buyers, but Azucena,...
2009-01-02 11:15:42 -
House prices plunge at fastest rate on record, losing an average of ... - Daily Mail
Houses lost nearly a fifth of their value in 2008, the worst fall on record. The average price dropped from £197,074 to £159,896 in 12 months, according to the Halifax. The £37,178 decline was the equivalent of losing more than £100 a day. Prices ...
2009-01-02 06:55:00 -
Finger-pointing follows mortgage approval falls - Politics.co.uk
Opposition parties have called on the government to do more to help Britain's struggling property sector as new figures show further slips on mortgage approvals. The Bank of England today revealed these fell to a nine-year low in November 2008, while ...
2009-01-02 05:29:00 -
Can't afford your home mortgage? Steps to get it modified - ABC 15 News
Homeowners who can't afford their mortgage payments can get a better deal from their lender. But the process is complicated and potentially onerous, and concessions are offered only to borrowers who earn neither too much nor too little income to meet ...
2009-01-02 09:26:00 -
Not Everyone Can Bank On Low Mortgage Rates - WBZ-TV
Rates have been wildly volatile over the last few weeks, and mortgage experts expect they will continue to drop, and stay low in the coming months. Amy Tierce, the President of Fairway New England Mortgage, says one person could qualify for a 4.25 ...
2009-01-02 05:44:00 -
Key gilt yield falls below 1 per cent for the first time on record - The Independent
Gilt yields fell to a record low yesterday after a Bank of England survey showed lenders preparing to tighten credit further this year, boosting expectations of a big cut in interest rates next week. The yield on two-year gilts fell below 1 per cent ...
2009-01-02 07:52:00 -
Jeremy Warner: Forget mortgage borrowers, what about savers? (Independent)
One of my colleagues has a tracker mortgage with Alliance & Leicester, taken out at the height of the mortgage boom, which fixes his interest rate at 0.31 per cent below bank rate and has no "collar" or "floor" to prevent the rate falling to zero if that's where bank rate ends up. With interest rates now falling like a stone – the Bank of England is expected to cut them again next week – he's ...
2009-01-02 08:14:42 -
CA-BUSINESS Summary (The Globe and Mail)
TORONTO (Reuters) - Toronto's main stock index soared more than 2 percent on Friday afternoon as strength in the energy sector, supported by the rising price of crude, led the way higher.
2009-01-02 09:06:47