Mortgage and Financial News From 2009-12-7 Page 01
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Canada May Keep Lending Rate at 0.25%, Repeat June Commitment - Bloomberg
Dec. 8 (Bloomberg) -- The Bank of Canada will probably keep its key interest rate at a record low today and seek to cement expectations that it will honor a pledge to leave it unchanged through June unless the inflation outlook shifts. The target ...
2009-12-07 10:57:00 -
Why I'm Buying Gold Dips - Stockhouse
Gold took a beating Friday, closing down more than 4%. That's the biggest one-day decline in 21 months. The sell-off was sparked by a better-than-expected jobs report. Understandably, some readers may be scratching their heads at the following ...
2009-12-07 09:46:00 -
Reverse Mortgages: Money From Home - ElderLawAnswers.com
If you own a home and are at least 62 years old, you may be able to quickly get money to pay for home care (or for anything else) by taking out a reverse mortgage. Reverse mortgages, financial arrangements designed specifically for older homeowners ...
2009-12-07 10:57:00 -
AIG execs, pay czar in showdown over salary - Minneapolis Star Tribune
The Wall Street Journal reported that five high-ranking executives at American International Group Inc. said last week they were prepared to quit if their compensation is cut significantly by the insurer's government overseers, according to people ...
2009-12-07 11:12:00 -
Viewer Stories: Housing Market Victims - WSB-TV Atlanta
6,000 out of pocket at closing, the rest is the 20 percent, plus down payment and the $13,000 worth of loan we paid down ... My grandparents were roped into one of the housing loans everyone is talking about. My grandmother passed away last October ...
2009-12-07 11:26:00 -
Viewer Stories: Single Parents Struggle - WSB-TV Atlanta
I am a single parent and live paycheck to paycheck. I have for the past six years. In my household there is one income without support. In the winter we barely survive the heat bills. In my opinion, what has changed over the past 12 months is that ...
2009-12-07 11:26:00 -
SEC Accuses 3 Ex-New Century Execs of Fraud - ABC News
maker of subprime mortgage loans, extended to borrowers with inferior credit records and the spark that ignited the home-loan bust. The company filed for bankruptcy protection in April 2007 after disclosing accounting errors. Once a Wall Street ...
2009-12-07 11:26:00 -
SEC Charges Three Former New Century Executives With Fraud - Update - RTT News
SEC Charges Three Former New Century Executives With Fraud - UpdateRTT News... its lenders to pull funding and demand that it buy back bad loans. The company's failure sent shock waves across the US mortgage lending industry. ...and more »
2009-12-07 09:09:35 -
RI Senate examines struggling state economy - Nashua Telegraph
RI Senate examines struggling state economyNashua Telegraph“No matter how affordable the mortgage product is, if they don't have income, they can't make a payment,” he said. Paiva-Weed expects lawmakers will renew a ...and more »
2009-12-07 09:42:20 -
Democrats push more mortgage aid - Washington Post
Democrats push more mortgage aidWashington PostMortgage industry officials, meanwhile, are less than thrilled that the so-called "cramdown" provision, which would allow judges to modify loans, ...
2009-12-07 10:04:11 -
Foreclosure case hovers over downtown Arcade - Plain Dealer
Foreclosure case hovers over downtown ArcadePlain DealerIn court filings, Bank of America alleges that Arcade LLC stopped making payments several years ago on a $33.3 million mortgage. ...and more »
2009-12-07 10:21:16 -
Credit Rating Agencies Cause Borrowers to Miss Out Mortgage Deals - E1 News
Credit Rating Agencies Cause Borrowers to Miss Out Mortgage DealsE1 NewsDespite the fact that UK lenders claim they are committed to giving out more mortgage loans, they are letting themselves down by the process of credit ...
2009-12-07 11:02:36 -
Letter: Put jobs first and the economy will follow - Greenville Daily Reflector
Letter: Put jobs first and the economy will followGreenville Daily ReflectorIf banks and vcs don't free up the capital needed to create the new products and businesses, there will be little need for mortgage lending and car loans. ...
2009-12-07 11:04:29 -
COLUMN-Low rates, silly banks and the next bubble: James Saft - Reuters
COLUMN-Low rates, silly banks and the next bubble: James SaftReutersThe extension of tax credits will help but mortgage rates will be under upward pressure as Fed purchases of mortgage debt slow and eventually stop next year ...
2009-12-07 11:04:54 -
Business Briefs for Dec. 8 - Richmond Times Dispatch
Business Briefs for Dec. 8Richmond Times Dispatch... mortgage lender New Century Financial Corp. of fraud, saying they misled investors as the company's subprime loan business was failing in 2006. ...and more »
2009-12-07 11:08:48