Mortgage and Financial News From 2007-8-26 Page 10

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  • This Time it Really is Different - Panicky Naked Fear Blossoms Like ...

    Stockhouse Canada - ... every house, car, truck and Asian toy to be found using easy, over-funded mortgage ... Information is so scattered and convoluted we cannot report an accurate amount, but ... line with no down payments, interest only for two years then follow-on refinance ...
    2007-08-25 10:05:00

  • Meinl Land Shares Tumble After Buyback Surprise (Update3)

    Bloomberg - We are looking at whether the company has broken any rules'' with regard to the share buyback, said Klaus Grubelnik, a spokesman for Austria's financial market regulator FMA. ``The question is whether this qualifies as insider information and which ...
    2007-08-24 12:59:00

  • Parties’ hopefuls rush out remedies for credit crunch

    Knoxville News Sentinel - John Edwards, D-N.C., wants to allow homeowners to shed “excessive mortgage debt ... for the creation of a fund by the federal government to help homeowners refinance ... be required.” He added: “I think at most more transparency, more information ...
    2007-08-26 03:41:00

  • BUSINESS: Mortgage-meltdown victims

    Santa Fe New Mexican - They tried renegotiating, but the mortgage companies only wanted more every month. No other company would refinance the loan because it carried a $20,000 early ... I had a gut feeling that this was not good,” the 48-year-old information technology ...
    2007-08-25 12:58:00

  • Experts address subprime fallout and the state of N.H. real estate

    Portsmouth Herald - Now, with a slowdown in the real estate sales market, people who had hoped to take out a subprime mortgage and refinance it after ... However, the appraiser said there is an upside to some of this information for the Seacoast. "Not delivering new ...
    2007-08-26 09:53:00

  • Experts address subprime fallout and the state of N.H. real estate (Portsmouth Herald)

    PORTSMOUTH — There has been much written in local and national media about the negative impact of subprime mortgage lending on the national economy.
    2007-08-26 10:13:58

  • Homeowner nightmares: Mortgage crunch impact spreading far and wide (The Standard-Times)

    and J.W. ELPHINSTONE
    2007-08-26 05:16:34

  • Mortgage Mess Hurts Main Street, Beyond (San Francisco Chronicle)

    The walls are bare, the closets are empty, and Connie and Timothy Pent and their two teenage children are living out of boxes as they wait for a dreaded knock at the door of their three-bedroom house in Ocala, Fla. They've fallen behind in payments on...
    2007-08-25 05:37:51

  • Homeowner nightmares: Mortgage crunch impact spreading far and wide (The Journal News)

    The walls are bare, the closets are empty, and Connie and Timothy Pent and their two teenage children are living out of boxes as they wait for a dreaded knock at the door of their three-bedroom house in Ocala, Fla. They've fallen behind in payments on a their home loan, and their lender told them in July that foreclosure was imminent.
    2007-08-26 06:59:13

  • Iffy loans backfire on market

    Tulsa World - The mortgage-market credit crisis may have looked like it erupted almost overnight, but pressure actually had been building for some time. Sooner or later, things were going to blow, an Oklahoma economist told me. Craig Knutson says the nation's ...
    2007-08-26 04:53:00

  • Wachovia Upbeat On Takeover Of Mortgage Lender

    Hartford Courant - That's still just 1 percent of the bank's outstanding residential mortgage portfolio, which is worth more than all the bank's commercial loans combined. It's been booked as earned income; should an increasing number of loans go bad, Wachovia will ...
    2007-08-26 07:02:00

  • A marriage made in crisis

    Chicago Tribune - Ken had told people for several months to be on the lookout," company spokesman Robert Stickler said. The opportunity arrived when executives at mortgage giant Countrywide Financial Corp. suddenly found themselves struggling for cash to fund loans ...
    2007-08-26 09:18:00

  • Investment banks likely to close mortgage units

    Courier-Post - Those mortgage-backed securities are one of the reasons investment banks wanted to buy subprime mortgage lenders. The banks originate the loans, then bundle them together and sell them as securities to institutional investors. More than 50 lenders ...
    2007-08-26 07:02:00

  • 'Going FHA' Back in Vogue

    Philadelphia Inquirer - As the mortgage industry goes through a wrenching retrenchment, government-backed loans for first-time homebuyers and borrowers with credit problems are coming back into favor. Hatfield resident Michael Hardisky, for example, had been considering ...
    2007-08-26 06:54:00

  • Mortgage damage control

    Tribune Chronicle - We expected the decline, because from 2002 through 2005 was the biggest years for mortgage loans throughout the industry, primarily because of the number of home equity loans that were processed,’’ he said. ‘‘I would imagine the number of ...
    2007-08-26 03:34:00

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