Mortgage and Financial News From 2010-2-27 Page 01
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No joy for old faithful of Colonial - Age
FUND manager Colonial First State is battling to orchestrate an orderly wind-down of its mortgage trust business as it emerges that an estimated 17,000 elderly pensioners are being told to wait four years to have their money returned. According to ...
2010-02-27 07:08:00 -
You are not your credit score - Oregonian
SOURCES: Federal Reserve Bank of Philadelphia; Fair Isaac Corp. This week, the for-profit company responsible for calculating most of our credit scores announced some "new and troubling findings." Consumers with high FICO scores (we're talking 760 to ...
2010-02-27 08:56:00 -
Dodd Consumer Proposal Would Create Bureau of Financial Protection - Wall Street Journal
WASHINGTON—Senate Banking Committee Chairman Christopher Dodd (D., Conn.) is circulating a plan to create a Bureau of Financial Protection within the Treasury Department to supervise mortgages, credit cards and other financial products, as ...
2010-02-27 01:13:00 -
Lender’s foreclosure rescue failed nearly half the time - Oregonian
And the loans made by Aspen's mortgage affiliate failed at an unusually high rate, according ... return on Campbell's home is already below the 12 percent goal. Campbell, who lost her maintenance management job, would like to refinance, but she hasn ...
2010-02-27 11:55:00 -
Academics on What Caused the Financial Crisis - Wall Street Journal
Understanding what caused the recent financial crisis is essential to successfully refining the practice of finance to reduce the odds of repeating it. So the Financial Crisis Inquiry Commission on Friday and Saturday heard several academic ...
2010-02-27 05:31:00 -
Bankrupt Grant Bovey admits he has let wife Anthea Turner down - Daily Mail
It was, by his own account, the hardest thing Grant Bovey had ever had to do. Sitting across the solid oak kitchen table, his eyes welled up with tears as he faced his eldest daughter, Lily, 17, and told her, haltingly, that he was going into ...
2010-02-27 06:57:00 -
On Native Ground - American Reporter
DUMMERSTON, Vt. -- There's been a lot of talk of late that there are glimmers of hope in the American economy. Since President Obama's economic stimulus package was enacted and the Federal Reserve and the Treasury Department both announced plans to ...
2010-02-27 11:08:00 -
The Willies - American Reporter
BRADENTON, Fla., Sept. 30, 2008 -- Will wonders never cease? I never thought the right-wing Republicans of the House of Representatives would join arms with the progressive Democrats that populate this newspaper and put the kibosh on President George ...
2010-02-27 11:08:00 -
Mortgage market blooms - Independent
Mortgage market bloomsIndependentThe 1 per cent decline in prices over the previous month's figures was due to special factors, such as the bad weather and the expiry of the holiday on ...
2010-02-27 06:07:43 -
For far too many homeowners, help still not on the way - Washington Post
It granted them a temporary reduction in their mortgage payment from May through August, saving them a total of about $10,000. Then it all went sour. The lender said the Moores weren't eligible after all and threatened to foreclose if they didn't ...
2010-02-27 10:32:00 -
John Paulson: The man who made $4bn from the sub-prime bubble - Times Online
John Paulson seemed to live an ambitious man’s dream. At 49, he managed more than $2 billion for his investors and $100m of his own wealth. Paulson and his wife, Jenny, a pretty brunette, split their time between a town house on New York’s ...
2010-02-27 08:37:00 -
How low is low enough to refinance? - HamptonRoads.com
A year ago, Chesapeake home-owner Joe Badali was paying about $2,328 a month on mortgages for his Great Bridge home and a nearby rental condo. He watched as mortgage rates began to fall a year ago and decided to refinance both properties. Next month ...
2010-02-27 06:57:00 -
Bruce Williams: Is a TV degree for me? - Galesburg Register-Mail
I have no one to leave my home to when I die, so I have been thinking about a reverse mortgage. Do you think this is a good idea? — Reader in Missouri Dear Reader : Reverse mortgages are simply a way that you can draw down part of the equity that ...
2010-02-27 08:16:00 -
Fixing the homeowner default trap - Boston Globe
THEY BOUGHT their home in the Boston area in 1999; their mortgage was $300,000. Two years later they refinanced for $400,000, using the excess funds to outfit a new home day-care business. Three years ago, when the market was at its peak, they ...
2010-02-27 07:54:00 -
What do you mean, be happy? - StarPhoenix
The market meltdown has taken great chunks out of our life savings, we are on the cusp of what could well be a protracted recession and now November, that portent of dark and gloomy days, is upon us. For many of us, these do not feel like ...
2010-02-27 09:34:00