Mortgage and Financial News From 2009-5-13 Page 01
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Repossession diary - The Sun
JAMES has done the right things in coping with a repossession threat. He has kept in touch with his lender, made token payments along the way and is making strenuous efforts to find a job. This is the kind of person lenders should be helping. The ...
2009-05-13 08:04:00 -
MP 'Claimed £16k For Non-Existent Mortgage' - Sky.com
In the latest in a string of revelations about MPs' expenses, the paper said the Labour MP for Scunthorpe had continued to claim mortgage interest for 18 months after the loan had been repaid. Mr Morley apologised for the "mistake" and said that he ...
2009-05-13 04:30:00 -
Abbey set to reverse trend and loosen criteria for most popular home ... - Times Online
Abbey, the country’s second-largest mortgage lender, will relax the lending criteria on its most popular home loans tomorrow, providing a significant boost to the mortgage market. The lender, which is owned by Santander, of Spain, is lowering the ...
2009-05-13 03:54:00 -
General Growth’s $400 Million Loan, Cash Use Approved (Update2) - Bloomberg
May 13 (Bloomberg) -- General Growth Properties Inc., which filed the biggest real-estate bankruptcy in U.S. history, won court approval of a $400 million loan from a group led by Farallon Capital Management LLC and the right to use cash on hand to ...
2009-05-13 05:56:00 -
Texan convicted in $12 million mortgage fraud - Charleston Daily Mail
HOUSTON (AP) - A broker has been convicted in a mortgage fraud scam that prosecutors in Houston say involved $12 million in fraudulently obtained loans. A federal judge Wednesday convicted Clarence Lewis III of conspiracy to commit mail and wire ...
2009-05-13 05:56:00 -
Are Reverse Mortgage Rates on the Rise? - HULIQ.com
In the face of a recession and a housing crisis, reliable financial programs sometimes need re-evaluation. But even with rising margins, the benefits of reverse mortgages remain strong and intact. While margins are going up, index rates are going ...
2009-05-13 05:41:00 -
MP claimed over paid-off mortgage - MSN UK News
A former government minister claimed parliamentary expenses of more than £16,000 for interest on a mortgage on his second home after the loan had been paid off, it has been reported. Elliot Morley continued claiming £800 a month for the property in ...
2009-05-13 08:19:00 -
North West Evening Mail (North-West Evening Mail)
A list of MP's expense claims which have been reported so far. Gordon Brown Mr Brown used his expenses to pay his brother Andrew £6,577 for cleaning work at his Westminster flat between 2004 and 2006.
2009-05-13 06:52:22 -
Tax Credit May Be Used As Home Sale Down Payment (CBS4 Miami)
If you're thinking about making a home purchase to take advantage of the depressed South Florida real estate market, the federal government might be able to help you get started with your purchase. On Tuesday, Shaun Donovan, Secretary of Housing And Urban Development, said that the Federal Housing Administration (FHA) informed lenders to allow first-time home buyers to use an $8,000 tax credit ...
2009-05-13 06:58:20 -
(AFX UK Focus) 2009-05-14 00:49 UPDATE 1-U.S. judge OKs bankruptcy loan for General Growth (Interactive Investor)
By Ilaina Jonas
2009-05-13 07:17:09 -
(AFX UK Focus) 2009-05-14 00:44 UPDATE 2-SEC proposes suit vs Countrywide founder Mozilo (Interactive Investor)
LOS ANGELES, May 13 (Reuters) - U.S. regulators have recommended filing a civil fraud suit against Countrywide Financial co-founder Angelo Mozilo for insider trading, the Wall Street Journal reported on Wednesday. Staff at the Securities and Exchange Commission had decided to recommend filing the suit against Mozilo, co-founder of the No. 1 U.S. home-mortgage lender taken over by Bank of America ...
2009-05-13 07:17:49 -
Next stop Armageddon (Guardian Unlimited)
The economy, we're told, is bouncing back. Here is a checklist to help test if the recovery is for real Panic over. Six months ago, you could not pick up a newspaper or watch the TV without sensing that the global economy was imploding. Banks were being bailed out, the stock market was in freefall, factories were being mothballed. Shaken to its very foundations, capitalism would never be the ...
2009-05-13 07:34:49 -
Countrywide’s Former Chief Mozilo Targeted by U.S. Regulators (Bloomberg)
May 13 (Bloomberg) -- Countrywide Financial Corp.’s former Chief Executive Officer Angelo Mozilo may become the highest ranking executive to be targeted by U.S. regulators investigating the subprime mortgage crisis.
2009-05-13 08:24:00 -
Slow Start to Federal Plan for Modifying Mortgages (New York Times)
Two months after a program from the Obama administration began to help millions of Americans avoid foreclosure, about 55,000 homeowners are enrolled.
2009-05-13 08:40:03 -
Pound Falls as BOE Sees Slow Recovery, Inflation Below Target - Bloomberg
May 13 (Bloomberg) -- The pound declined and U.K. gilts surged as the Bank of England said the economy faces a “slow” recovery and inflation will probably stay below its target for the next three years, stoking speculation it will expand its ...
2009-05-13 11:58:00