Mortgage and Financial News From 2007-8-26 Page 13
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Insurance costs keeping many from rebuilding
Jackson Clarion-Ledger - You have to have insurance to get a mortgage, and the insurance rates are so high nobody can afford them. Thank goodness we didn't need a mortgage." Almost two years ago, she and her husband, Walter, huddled inside a used recreational vehicle they had ...
2007-08-26 05:57:00 -
Is Refinancing the Best Option? (Washington Post)
Q: DEAR BOB: I am a 51-year-old widow of eight years with three children, 9, 11 and 15. I earn about $3,000 a month, and my children receive $2,100 in Social Security benefits. I have owned my home for six years and have a 30-year, fixed-rate mortgage at 5.375 percent. My monthly payment is $1,279, including $67 in private mortgage insurance and $217 for escrowed property taxes and insurance.
2007-08-24 08:37:05 -
State's job in mortgage crisis a tricky balance (The Star-Ledger)
Word started trickling out early on March 20 that LoanCity, a mortgage lender doing business in New Jersey, was shutting its doors. A notice on the company's Web site confirmed the news later that day: "Today, March 20, 2007, is the last day we will be funding loans."
2007-08-26 04:48:32 -
U.S. banks weather mortgage meltdown (The Arizona Republic)
With the worst of the mortgage mess possibly over, bankers are climbing out of the woodwork, assuring customers that they're still healthy and ready for business.
2007-08-26 04:43:17 -
'Growth slowdown likely if interest rates remain up'
Worldnews.com - zbiz-bankrate-deals/ Money One-year New-car Home-equity Credit market CD loan loan card National average 0.85% 3.77% 7.77 ... Bankrate: Fixed and Adjustable Mortgage Rates Take Opposite Paths PR Newswire
2007-08-26 12:42:00 -
As house sellers remain dug in, buyers wait for price fallout
Palm Beach Post - You don't want to get an offer on your home, only to find out you can't qualify for a mortgage to buy your next home." Mortgage rates will remain fairly steady during the next several months, said Mike Larson, a real estate analyst with Weiss Research ...
2007-08-26 04:10:00 -
Effect of mortgage crisis is lower here
Janesville Gazette - The wave of mortgage foreclosures washing across ... appeared affordable, until the adjustable rates adjusted up, ballooning payments and turning dream homes into unaffordable nightmares.
2007-08-26 04:10:00 -
Home buyers get good news: Mortgage rates dip to May levels
Tacoma News Tribune - WASHINGTON – Rates on 30-year mortgages sank this week to their lowest point since late May, providing a little ray of sunlight for would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages ...
2007-08-24 08:01:00 -
GOOD NEWS ON HOME SALES
Worldnews.com - GOOD NEWS ON HOME SALES The Press Democrat Housing surge defies estimates, indicates economy better off; credit impact ... Rates on 30-year mortgage rates sink The Charlotte Observer By JEANNINE AVERSA AP Economics Writer Related Content WASHINGTON ...
2007-08-26 01:18:00 -
ALP seeks mortgage relief
News.com.au - THE federal Labor Party has been examining Aussie Home Loans boss John Symonds' plan for tax deductions for mortgage ... suggested by Symonds would only put pressure on Interest rates ... Now new home buyers are being slugged for all these services ...
2007-08-25 10:12:00 -
Inland homeowners on foreclosure tightrope
Riverside Press Enterprise - They didn't foresee the coming real-estate reversal that has deflated the value of their home, leaving them with no equity to refinance in July when their monthly mortgage payment jumped by $700. Unable to make the higher payment, they feared they ...
2007-08-24 12:59:00 -
Consumer Life l
Economic Times - If you thought getting a good deal for a home loan is the end of journey, then you may be missing out on a lot of action ... and if you are looking out for a better deal, it’s not a bad idea to approach a housing finance company (HFC) to refinance ...
2007-08-26 03:41:00 -
Mortgage foreclosures up 68 percent in Bristol County
South Coast Today - You have people who can't sell, can't refinance and can't stay in their home." Job loss, illness, unexpected expenses or any combination of the three can topple a family's financial house of cards. Add to that the fact that home prices escalated ...
2007-08-26 04:53:00 -
The Battle Rages as the Chickens come Home to Roost
Safe Haven - People were "taking advantage" of low interest rates and rising housing prices to refinance their homes and/or to take out home equity loans for luxury items that they normally would not have been able to "afford." People were also taking ...
2007-08-25 04:28:00 -
Maggots In Patient's Ear At Nursing Home (WSMV Nashville)
A state Health Department investigation revealed that a 91-year-old patient at Johnson City nursing home had maggots in her ear because of a hygiene problem at the facility.
2007-08-25 08:58:27