Mortgage and Financial News From 2007-12-8 Page 13
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Millions paying off debts from last Christmas
Daily Telegraph - Many people are expected to have to use their credit cards more often to meet the rising cost of mortgage repayments. Mick McAteer, an independent personal finance expert, said: "The scale of our debt problems looks pretty bad; people shouldn't be ...
2007-12-08 02:27:00 -
Unemployment rate holding steady, helping economy weather housing ...
South Coast Today - Credit has dried up. Lenders have been forced out of business. Financial companies have wracked up billions of dollars worth of losses from bad subprime mortgage investments. Wall Street has endured bouts of turbulence. Given these stresses, economic ...
2007-12-08 02:27:00 -
ALL BUSINESS:Credit mess worms in deeper (AP via Yahoo! News)
If you think the credit crisis is someone else's problem, just look at what is going on in Florida — where plenty of people seemingly far removed from the financial turmoil have been hard hit by its impact.
2007-12-07 09:05:00 -
Mortgage costs to rise for former "prime" borrowers (Seattle Times)
Some who used to be considered "prime'' credit applicants are about to get squeezed as the credit market tightens.
2007-12-08 02:17:09 -
S&P Cuts Capital Notes of 13 SIVs, More Cuts Possible (Update2)
Bloomberg - Investors have shunned the short-term debt sold by SIVs because some of them bought securities linked to subprime mortgages ... in London wrote in a report today. ``Also, we cannot see investors returning to the market in sufficient numbers to reverse ...
2007-12-07 03:22:00 -
Judge halts foreclosures
Cincinnati Enquirer - ... mortgages in foreclosure. The local ruling comes as three federal court judges - in Cleveland, Dayton and Columbus - have issued similar opinions in foreclosure cases in the last month. In one opinion, a federal judge in Cleveland sought to reverse ...
2007-12-08 02:27:00 -
Citigroup Board Meets Next Week to Consider Chief, Person Says
Bloomberg - Citigroup's board is under pressure to find a candidate who will reverse the biggest U.S. bank's sliding stock price and ... Prince stepped down after the bank said investments linked to subprime mortgages had fallen by at least $8 billion in the ...
2007-12-07 09:27:00 -
Farm-bill voting may begin Tuesday
Daily Oklahoman - ... and said Thursday that he didn't think taxpayers should be liable for more "risky loans.” In an interview Friday, Coburn said he had agreed to lift his hold on the bill if a section is modified that raises a cap on so-called "reverse mortgages ...
2007-12-07 09:27:00 -
No parent trap, being angel to guardians easy
IBN LIve - In case of reverse mortgages, the parents continue to live in the house while mortgaging the house to a bank or home loan company which pays them an EMI for 15 years. If they are still alive after 15 years then they continue to live in the house till ...
2007-12-08 02:20:00 -
New tax values zap older homeowners
Raleigh News & Observer - Some older owners can take out reverse mortgages. These are loans, taken out against the value of a home, that do not have to be repaid until the the last living owner dies, sells the home, or permanently moves out. They are repaid in full out of the ...
2007-12-08 01:52:00 -
No parent trap, being angel to guardians easy (IBN live)
CNN-IBN debates if children should be penalised for not taking care of their old parents.
2007-12-08 02:52:28 -
No parent trap, being angel to guardians easy (IBN via Yahoo! India News)
The Maintenance and Welfare of Parents and Senior Citizens Bill provides for three months of imprisonment for those who are found guilty of abandoning their parents. It also gives no scope for appeal against the punishment. CNN-IBN debates if children should be penalised for not taking care of their old parents.
2007-12-08 02:37:54 -
HEADS UP (The Charlotte Observer)
Carolinas Roundup | 2D Get the scoop on development news Development columnist Doug Smith rounds up a week's worth of news from commercial developers. Inside | 4D Vegas hotels work for their star treatment Mobil and AAA stars, that is. The two well-known hotel rating organizations determine grades for hotels -- and thus the range of rates they can charge as Sin City's hotels go upscale. ...
2007-12-08 12:11:01 -
Judge halts foreclosures (The Cincinnati Enquirer)
A Hamilton County judge ruled that banks must prove that they legally hold mortgages, a ruling that could have profound implications for Ohio.
2007-12-08 02:30:33 -
My Reverse Mortgage Pro Declares Victory for the Reverse Mortgage Market (PRWeb via Yahoo! News)
My Reverse Mortgage Pro, a leader in the reverse mortgager industry, supports a recent Senate decision to reject FHA limits on reverse mortgage annuities.
2007-12-07 11:01:00