Mortgage and Financial News From 2007-9-16 Page 13
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Community banks are weathering credit storm
Stockhouse Canada - AM SAVE EMAIL PRINT POPULAR Digg it del.icio.us Google Yahoo Recent headlines would lead you to believe that money for mortgages has dried up. The truth is community banks have money to lend to homeowners for new purchases and to refinance existing ...
2007-09-16 06:17:00 -
Black hole week begins on Wall St
The Australian - The tighter credit conditions are compounding and prolonging the US housing downturn, which is making it harder for people to refinance their mortgages in order to avoid foreclosure. One report last week suggested that as many as one-third of all ...
2007-09-16 07:51:00 -
CONSUMING FIRE
New York Post - This far outpaces wage growth and was fueled by the ability to refinance mortgages and to grab home equity loans to pay off the debt. But now, with housing prices falling, one key tool used to pay off the debt is blocked. Perhaps not surprisingly, in ...
2007-09-15 10:11:00 -
Sorry, pessimists, muni market doing fine
Seattle Times - That spurred states and municipalities to sell more bonds, for both new purposes and to refinance outstanding debt, and this year looked like a lock to break the previous record of $408 billion set in 2005. On Aug. 2, the index was 4.51 percent. It ...
2007-09-16 12:20:00 -
Act quickly, ask for help if faced with foreclosure
Baltimore Sun - Can you refinance? If you have good credit, are not behind on mortgage payments, and know that those payments are adjusting to a level you cannot afford, try to get a new mortgage. It's probably not going to be as easy as in the past. The housing mess ...
2007-09-16 12:20:00 -
Prepaying mortgage a smart move for some
Chicago Tribune - You may also build enough equity to qualify to refinance and lower your rate. - You want to stop paying private mortgage insurance, which the bank charges when you have less than 20 percent equity in a home. It can cost anywhere from $150 to $600 ...
2007-09-16 05:42:00 -
Read Robert Peston's blog
BBC Brasil - But, as Northern Rock found out when looking for a buyer this summer, no bank has the confidence to buy Northern Rock and attempt to refinance its balance sheet on the money markets in the normal way. The world’s biggest banks are finding it ...
2007-09-16 05:13:00 -
'Higher' risks in non-bank home lending
News.com.au - The liquidation of a non-bank lender is dire for the borrower, as they are often forced to refinance or sell . . . due to their loan being purchased by one of the major banks," he said. He said this exposes the borrower to the risk of property ...
2007-09-16 07:58:00 -
You may want to wait for dropping loan rates (The Charlotte Observer)
If you're banking on an interest rate cut fairly soon -- and you should -- it's time to consider what moves to make with your money. Do you lock up a CD now? Wait around to refinance? Drag your feet on a car loan? The Federal Reserve board meets Tuesday, and we'll likely see the first rate cut in four years. Diane Swonk, chief economist for Mesirow Financial in Chicago, expects the Fed to cut ...
2007-09-16 12:11:40 -
Mortgage rate dip may help some with refinancings (The Record)
WASHINGTON -- Rates on 30-year mortgages fell this week to the lowest point in four months, providing some relief for people hoping to refinance their loans.
2007-09-16 04:11:50 -
Mortgage woes mount after Katrina (New Orleans Times-Picayune)
WASHINGTON -- Like many homeowners, Letitia Youngblood decided in April of 2005 to refinance her mortgage so she could get some extra cash. The move allowed her to make some repairs to her 9th Ward home and create a room to do part-time seamstress work.
2007-09-15 11:39:08 -
KELFC violators will be RIFFED
Worcester Telegram & Gazette - ... is Code of Massachusetts Regulations, and FTE means full-time equivalent — which is the way government agencies calculate ... Center), PAM (Property and Acquisition Management), RUS (Rural Utilities Service), FannieMae (Federal National Mortgage ...
2007-09-16 12:55:00 -
Pay a little extra each month, cut years off mortgage (Los Angeles Times)
Question: My mortgage payment is due on the first of each month. I would like to make half my monthly payment 15 days before it's due and the remainder on the due date. But my lender says the only way I can do this is through a third-party company, which will then charge me a sign-up fee of several hundred dollars plus a monthly fee. If I just pay twice a month, doesn't the lender have to accept ...
2007-09-16 12:08:47 -
Sifting out surprises in mortgage fine print (Boston Globe)
Getting a mortgage is often the single largest financial transaction in a person's life. Yet borrowers, presented with a dizzying array of legal documents full of complex conditions, can find the process daunting.
2007-09-16 03:52:03 -
Jack Ryan: Stricter credit requirements
Enterprise-Journal - ... the so-called “subprime meltdown” to have virtually no impact on the mortgage ... eager to score the loan that it didn’t bother to explain that kind of information ... Her advice to someone stuck in a high-interest loan is to refinance and make all ...
2007-09-15 04:41:00