Mortgage and Financial News From 2007-8-26 Page 11
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Getting easy money for ‘nonconforming’ mortgage loans not so easy ...
Asheville Citizen-Times - The world of mortgage finance is in total turmoil. From late 2006 to the present, at least 129 U.S. lenders have sought bankruptcy protection or ceased operations. There is even a Web site, www.mortgageimplode.com , that lists firms that have gone ...
2007-08-26 04:53:00 -
Wealthy can get loans
Morris County Daily Record - If you are in good financial shape, getting a mortgage even now -- with the credit markets in trouble -- is "a piece of cake," said Dave Muti, a lawyer and mortgage planner with Millenium Home Mortgage in Parsippany. (He apologizes for the ...
2007-08-26 07:59:00 -
Growing mortgage crisis spreads to jumbo loans
Seattle Times - Gary Becker and Amy Dacus and their children, Liam, 3; Macy, 7; and Riley, 5, at their new home in Woodinville. The couple had to frantically search for financing to buy the house after their original jumbo-mortgage plan "blew up." GREG GILBERT / THE ...
2007-08-26 07:16:00 -
Credit crisis changes rules for getting a mortgage (Sun-Sentinel)
You've read about the credit crisis, about stocks tumbling, about thousands of subprime loans exploding and home foreclosures on the rise. How will this affect you?
2007-08-26 07:15:05 -
Growing mortgage crisis spreads to jumbo loans (Seattle Times)
The evening before their home purchase was to close, Gary Becker and his wife, Amy Dacus, learned their mortgage to buy a Woodinville home...
2007-08-26 07:13:43 -
Getting easy money for 'nonconforming' mortgage loans not so easy anymore (Asheville Citizen-Times)
The world of mortgage finance is in total turmoil. From late 2006 to the present, at least 129 U.S. lenders have sought bankruptcy protection or ceased operations. There is even a Web site, www.mortgageimplode.
2007-08-26 05:08:51 -
Loan options dwindle for home buyers
News-Democrat - Costs are rising for big mortgages BY MATHEW PADILLA The Orange County Register SANTA ANA, Calif. -- Home loan seekers are facing ... can get better rates by getting a first mortgage for under the conforming limit of $417,000 and a simultaneous second ...
2007-08-26 07:52:00 -
Feds take control of state's eighth-largest credit union
Denver Post - FORT COLLINS, Colo.—Federal officials have taken control of the state's eighth-largest credit union. The Fort Collins Coloradoan said non-payments of second mortgages and construction loans forced the Norlarco credit union into conservatorship ...
2007-08-23 12:53:00 -
Hanover forces mortgagee apartment sales
Stuff - Its accounts show that it had $325 million in loans backed by second mortgages on its books at December 31, 2006 out of a total $604m lent against commercial and residential property developments. There was good buyer interest in the units when they ...
2007-08-25 09:57:00 -
FOCUS ON THE 15: Investors regain sense of long-term opportunities
Quad-Cities Times - This comes as no surprise with respect to the nature of these mortgages. Also called “second-chance†lending, subprime lending generally caters to those with too much debt or not enough verified income. Not for nothing were these mortgages made ...
2007-08-26 06:04:00 -
Borrowers face their adjustable-rate mortgages
Everett Herald - Published: Sunday, August 26, 2007 Borrowers face their adjustable-rate mortgages Borrowers caught short through adjustable-rate mortgages are scrimping, raiding their savings and taking on second jobs to avoid losing their homes. Associated Press ...
2007-08-26 06:54:00 -
Despite turmoil, buyers can secure mortgages
Allentown Morning Call - Those second mortgages are becoming scarce, Havemann said. Even if you don't have a lot of money to put down and your credit history is spotty, you still have options under several loan programs. FHA loans, for instance, are made by private lenders ...
2007-08-26 07:09:00 -
HBO series takes a look at a typical family through an atypical lens (The Kansas City Star)
HBO has treated the remarkable second season of its polygamist show “Big Love†like a radiant but overlooked sister-wife, paying more promotional attention to the conclusion of “The Sopranos†and the launching of “John From Cincinnati,†a series the network canceled last week.
2007-08-26 03:49:19 -
Loan options dwindle for home buyers (Belleville News-Democrat)
Home loan seekers are facing fewer options and higher costs, even for many folks with good credit, as investors around the globe shun mortgages out of fear borrowers won't pay.
2007-08-26 08:04:11 -
Fidelity Inflation Bond Fund hurt by loan defaults (Seattle Times)
Fidelity Investments' Inflation-Protected Bond Fund is lagging behind its biggest competitor, Vanguard Group, after losses in subprime mortgages...
2007-08-26 07:18:26