Mortgage and Financial News From 2007-12-8 Page 7
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End the free ride for polluters
San Francisco Gate - Editor - Uncle Sam can bail out some of the banks, some of the mortgage companies and some of the subprime borrowers. Uncle Sam can subsidize many of our farmers ... even those who live in Manhattan penthouses. Uncle Sam can bail out some hedge funds ...
2007-12-08 05:05:00 -
Bush Wins Agreement to Freeze 'Teaser' Mortgage Rates for Strapped ...
FOX News - The mortgage companies will offer to freeze the loans at the lower introductory rates as long as the borrowers did not miss any payments at the lower rate. The program is the biggest effort yet to deal with a tidal wave of mortgage defaults, which ...
2007-12-05 03:53:00 -
New mortgage plan has troubling loopholes, not a perfect solution
San Diego Union-Tribune - Homeowners dialing up their mortgage company to get their current rate frozen could be disappointed. The White House plan doesn't force mortgage companies to give eligible homeowners a break. It is voluntary. President Bush, announcing the initiative ...
2007-12-06 02:40:00 -
Snags in mortgage-rate relief effort (The Philadelphia Inquirer)
WASHINGTON - Be ready to wait if you call the federal government's new telephone hotline for subprime-mortgage borrowers. Minutes after President Bush outlined a plan on Thursday to help strapped homeowners, callers were told to have patience until a counselor could answer their questions.
2007-12-08 01:05:45 -
Mortgage hot line full of 'hoops,' critics say (The Columbus Dispatch)
WASHINGTON -- Be ready to wait if you want to get information from a toll-free hot line about freezing the interest rate on your subprime mortgage.
2007-12-08 12:22:02 -
How to Solve a Subprime Mess? An Iowan Says, Let?s Caucus (New York Times)
Iowa?s attorney general is trying to stem a surge of foreclosures by cajoling mortgage servicing companies to modify loans before borrowers fall too far behind.
2007-12-08 01:33:28 -
Owners may be forced to sell homes
Financial Times - Separately, it emerged yesterday that one of the first intermediaries in the riskier end of the mortgage market was this week forced to call in administrators. The Mortgage Lender, a Hampshire-based mortgage broker, provides mortgages to the subprime ...
2007-12-07 01:42:00 -
'Fast Money' Recap: Financials Rally
Street.Com - Karen Finerman believes that the stock market has an impetus towards moving higher. Jeff Macke recommended that investors buy the S&P 500 and set a tight stop at 1495. Financial stocks rallied off of President Bush's mortgage bailout plan. Adami ...
2007-12-08 04:36:00 -
Gold’s Quirk: It’s Volatile, but Holders Feel Secure
New York Times - Rich Checkan, vice president of Asset Strategies International Inc., a precious metals and currency broker in Rockville, Md., said purchases at his company started picking up substantially after the subprime mortgage turmoil began in August. Most of ...
2007-12-08 12:07:00 -
LOTTO LUCK $TRIKES PUTNAM AGAIN
New York Post - Steadman, who also works as a mortgage broker, has had near misses with good fortune in the past. Last year, while waiting in line at a gas station to play the lottery, the man in front of him bought what turned out to be a $1 million winning ticket ...
2007-12-08 01:52:00 -
Borrowers not off the hook
Times Online - Ray Boulger, of John Charcol, the mortgage broker, says: “Even when rates come down, there is still a short-gage of funding for mortgages, so lenders are unlikely to pass on the cut in variable rates because this is the only opportunity they have ...
2007-12-07 09:20:00 -
Victims See Scammer Sentenced To 10 Years (The Tampa Tribune)
Between March 2002 and March 2004, a Tampa mortgage broker refinanced loans for older homeowners of modest means, scamming more than $400,000 to supplement a legitimate income that came close to six figures a year.
2007-12-07 09:05:53 -
Bush to Freeze Mortgage Rates (The Signal)
The devil will probably be in the details, but at least one local broker said it's too early to be overly critical of the president's effort, announced Thursday, to help homeowners worried about foreclosures.
2007-12-08 01:52:53 -
Newcastle Building Society launches equity release brokerage service
Banking Business Review - Newcastle Building Society has announced the launch of equity release service to provide advice on lifetime mortgage and home reversion schemes.
2007-12-06 03:59:00 -
Mortgage lenders cut rates after BoE
MyFinances.co.uk - Free Quotes From UK Mortgage Specialists UK mortgage / remortgage specialists, free mortgage quotes and advice, online mortgage calculator, free mortgage guides, useful tips and common mortgage questions. Nationwide service.
2007-12-05 03:53:00