Mortgage and Financial News From 2007-9-16 Page 7
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Housing slump creeps into Houston market
Houston Chronicle - Whitman is one of the latest casualties of the housing industry turmoil, as mortgage credit dries up, residential construction ... I have a bad taste in my mouth with these big companies," Bryce said. Despite further warning signs as home starts and ...
2007-09-16 10:28:00 -
Answer Desk: Help! How can I head off foreclosure?
MSNBC - Unfortunately, many people are afraid of letting their mortgage company know they’re in trouble and ... of all this is a full time job, you’re best bet may be to get help from a professional credit counselor. Unfortunately, there are a lot of bad ...
2007-09-16 04:19:00 -
An American crisis that could harm an awful lot of reputations here ...
Times Online - When that era came to an abrupt end this summer and financial institutions, spooked by the bad debts in the sub-prime mortgage market ... writing a blank cheque to a bank that failed to factor in the possibility of a crisis in the credit markets ...
2007-09-16 03:22:00 -
Kroger Expands Personal Finance Business
Baltimore Sun - ... for $5._ Cookies, two packages-for-one at $3.99. -- New $200,000 fixed-rate mortgage ... expanding its financial services business since beginning with a Kroger credit card ... If you start doing financial services and you have a bad experience, it can ...
2007-09-16 04:26:00 -
King, BOE Face `Crisis of Confidence' Over Subprime Collapse
Bloomberg - ... mortgage collapse roiled credit markets. Now he's getting dragged in, whether he likes it or not. Two days after King, 59, told lawmakers on Sept. 12 that central banks should avoid giving the impression they will help lenders that made bad ...
2007-09-16 04:26:00 -
Frank May Win `Tougher Than Expected' Subprime-Lending Limits
Bloomberg - The collapse of the mortgage market for subprime borrowers -- those with bad or sketchy credit histories -- has roiled global credit markets, contributed to the largest U.S. housing slump in 16 years and sparked demands that Washington respond ...
2007-09-16 04:12:00 -
Future of British mortgage lender in question after run on deposits
International Herald Tribune - Northern Rock ran into trouble when concern about bad loans in the U.S. subprime mortgage business caused a global tightening of credit conditions. Northern Rock was particularly vulnerable to other banks' reluctance to extend credit because it has ...
2007-09-16 12:01:00 -
Creative accounting could ease banks' earnings hit from credit losses (The Journal News)
Wall Street's banking titans have a history of being slow to acknowledge bad news. Don't count on them to come completely clean in their quarterly earnings reports next week about how the credit crisis is rocking their businesses.
2007-09-15 11:31:29 -
And now for good mortgage statistics (Los Angeles Times)
Despite the sub-prime crisis, foreclosures are not an issue yet for the vast majority of U.S. homeowners. WASHINGTON -- Just how bad is the foreclosure situation? If you caught summaries of the latest delinquency and foreclosure numbers released by the Mortgage Bankers Assn. of America, you could only conclude: Yikes, it is getting scary out there.
2007-09-16 12:08:37 -
Clear credit card balance, pay a higher rate (Los Angeles Times)
Dear Liz: I have two credit cards with the same credit card issuer. I pay one card off in full every month and carry a balance on the other. The card issuer recently sent me a notice that the rate on the card I pay off in full every month was about to increase. The notice said the rate increase targeted only people who had bad credit scores (mine are good) or who did not carry balances on their ...
2007-09-16 12:14:10 -
Brace for Act II when the crisis goes global (FT.com via Yahoo! News)
There has been some good news in the past week and a lot more bad news. The good news consisted of tentative signs that the credit markets were stabilising. Conditions in the asset-backed commercial paper market also appeared to improve. The bad news was the shocking bail-out of Northern Rock, a UK mortgage bank.
2007-09-16 09:15:40 -
Living the high life
Denver Post - ... and travels in the Himalayas, she knows she will one day sell her Vail house. For now, the condo will offer her a reverse ... Sub-prime mortgages may be playing havoc with the economy, but so far there's no contraction among moneyed buyers. That's good ...
2007-09-14 05:54:00 -
Northern Rock: Why didn't the alarm bells ring?
Daily Mail - The Bank of England has regularly reported on the surging total of personal debt ( including mortgages) which at last count ... This is the exact reverse of the balance sheet of most banks. But it took an extraordinarily long time and the ripples from ...
2007-09-16 03:22:00 -
More Risky Business
US News and World Report - ... backing the paper are worth what the issuers say, given that a proportion of these assets are those iffy subprime mortgages ... If these assets have been de-rated or down-rated by the credit rating agencies, changes in interest rates won't reverse most ...
2007-09-16 10:14:00 -
MARK YOUR CALENDAR
Portsmouth Herald - With several recent improvements in reverse mortgages, these types of mortgages are designed to strengthen the personal and financial independence of senior citizens by providing a source of funds without the usual monthly payment burden. Reverse ...
2007-09-16 03:33:00