Mortgage and Financial News From 2007-12-8 Page 5
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UPDATE 3-Paulson: Avoiding foreclosures in interest of all
Reuters - Pressed to explain how a five-year interest-rate freeze is anything more than a patch on a problem that will return, Paulson conceded "this plan is not a silver bullet, you're not going to be able to solve every conceivable issue. "What five years ...
2007-12-05 03:53:00 -
British market eyes HBOS bank update next week
Tehran Times - British market eyes HBOS bank update next week LONDON (AFP) -- London investors, cheered by an interest rate cut in the run-up to Christmas, will hunt for sub-prime news next week in a trading statement from British bank HBOS. The FTSE 100 index of ...
2007-12-08 02:30:00 -
Credit crunch has not delayed ECB rate rises
International Herald Tribune - MADRID : Euro zone inflation risks have intensified but the European Central Bank has not delayed any interest rate increases ... But he added that U.S. commercial banks had been more transparent in revealing losses related to the sub-prime crisis. "It ...
2007-12-08 03:28:00 -
House prices pumped by interest rate cuts
Daily Telegraph - After all, it's clear that, in the wake of "sub-prime", the UK is starting to slow. That generally eases ... And yet, incongruously, we've just seen the first of what everyone says will be a series of interest rate cuts. Have your say
2007-12-08 05:01:00 -
Fed rate cut, subprime plan may spur stock rally
Economic Times - NEW YORK: A big interest-rate cut by the Federal Reserve next week, or at least a hint more cuts are coming, coupled with this week’s subprime rescue plan could lift investor confidence and inspire a pre-Christmas rally. While most investors are ...
2007-12-08 05:01:00 -
US stock markets gain altitude as rate cut sensed (The West Australian)
Wall Street enters the home stretch of 2007 in an upbeat mood as investors brace for a meeting of the US Federal Reserve which is widely expected to yield a third straight cut in interest rates.
2007-12-08 04:07:35 -
House prices pumped by interest rate cuts (Daily Telegraph)
A week ago I wrote that the Bank of England shouldn't cut rates on Thursday, but would anyway - which is, of course, what happened.
2007-12-08 05:51:27 -
Credit crunch has not delayed ECB rate rises (Reuters via Yahoo! UK & Ireland News)
Euro zone inflation risks have intensified but the European Central Bank has not delayed any interest rate increases because of the recent credit crunch, ECB executive board member Jose Manuel Gonzalez-Paramo said.
2007-12-08 02:40:00 -
Murky details: A deeper dig uncovers complicated pitfalls.
Philadelphia Inquirer - Yet until recently, only about 1 percent of troubled subprime loans had been restructured. Q: How do I qualify for refinance or loan modification under the plan? A: Homeowners must have at least 3 percent equity in their homes, must be current in their ...
2007-12-07 11:57:00 -
Mayor Michael R. Bloomberg at City Hall in 2002. His company ...
Herald Tribune - ... finance for the city’s Law Department, said the Internal Revenue Code and the City Charter, as well as “the market,” require the mayor’s signatures on general obligation bonds issued by the city to pay for capital projects and refinance debt. ...
2007-12-08 03:35:00 -
US Voters, Presidential Candidates See Economy, Mortgages As Election ...
Bayou Buzz - He called for a seven-year freeze on interest rates for vulnerable homeowners, and proposed a federally financed “home rescue fund” to help low-income families refinance unsustainable mortgages. Many homeowners have been caught up in a banking ...
2007-12-08 03:56:00 -
More rate cuts will be needed to avoid a bad new year hangover
Guardian Unlimited - Most customers have a stark choice if they don't have a good credit history and can't refinance - they either need to change their spending patterns and batten down the hatches or they take the view that they aren't going to solve the problem and ...
2007-12-08 03:13:00 -
Economic View: Homeowners aren't sitting on a goldmine any more, but ...
The Independent - For example, although mortgages linked directly to the base rate will come down, people seeking to refinance mortgages because their fixed-term deals are expiring in the next few months may find they have to pay more than they would have a year ago. ...
2007-12-08 04:03:00 -
Wobbly Woolworths faces tough Christmas
Daily Telegraph - Woolworths adds that it will drop plans to refinance if the credit crunch makes it impossible to get a better deal. However, sources close to Woolworths' syndicate of ten UK and overseas lending banks - which have committed to providing the retailer a ...
2007-12-08 04:32:00 -
Needed intervention in the subprime mess
Minneapolis Star Tribune - In October, Countrywide Financial Corp. said it would offer 82,000 customers -- including several thousand in Minnesota -- the opportunity to refinance mortgages to avoid defaults. It's unfortunate that a private-sector initiative couldn't cure what ...
2007-12-08 03:13:00