Mortgage and Financial News From 2008-3-15 Page 01
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More rate cuts from Fed expected Tuesday
Forbes - ... week also said it would pour as much as $200 billion into big Wall Street banks and investment houses and allow them to put up risky home-loan packages as collateral. This maneuver was intended to bring sorely needed relief in the market for mortgage ...
2008-03-15 09:41:00 -
More mortgage loan advice
Fort Lauderdale Sun-Sentinel - More mortgage loan advice Think about what you can afford. The old rules of thumb, that a mortgage payment shouldn't account ... on enough money to pay for rising insurance costs and property taxes that usually go up the year after you buy the home.
2008-03-15 08:08:00 -
Lower rates fuel surge in area mortgage refinancing
Chattanooga Times Free Press - Mortgage rates in the past few months have dropped to historic lows, and homeowners in the Chattanooga area have been filing ... Other bankers in the area also have seen a spike in the number of calls about refinancing their home loan.
2008-03-15 08:51:00 -
Reverse mortgage mart to triple to $113 bn by 2015: Study
Economic Times - The home equity available is $39 billion and is expected to grow to $113 billion by 2015, which would be a significant opportunity for lenders," the report titled 'Reverse Mortgage Market:
2008-03-15 10:31:00 -
What Auction Bargains?
Washington Post - They're reluctant deal-makers, whether it's on foreclosures or on short sales, in which the lender agrees to accept less than the full amount owed on the mortgage. A short sale allows a struggling borrower to get rid of a home that's worth less than ...
2008-03-15 08:44:00 -
Some borrowers hit new snag in refinancing
The State - Some homeowners who in the past would have been approved for a mortgage refinancing are finding they can’t get their home-equity lender to give the go-ahead, which is required to complete the transaction.
2008-03-15 08:29:00 -
Bear Stearns Market
Washington Post - The same carefree lending standards that led to record-high home foreclosures have brought deepening troubles in the market for loans to highly indebted companies. The "no-doc," interest-only, no-money-down mortgage turns out to have been a kind of ...
2008-03-15 09:55:00 -
Good luck buying a home
The State - For buyers, the concern is whether they will qualify for a mortgage to pay for that dream home. And for some buyers, qualifying requires more work on your part, including providing more paperwork to be approved than was required just a year ago.
2008-03-15 08:58:00 -
37 Replies
Raw Story - President George W. Bush said he won't be stampeded into ``bad policy decisions'' to bail out the home-mortgage industry because they might further harm the U.S. economy. ``A root cause of the economic slowdown has been the downturn in the housing ...
2008-03-15 03:29:00 -
Houses are left behind to pay car, credit bills
Minneapolis Star Tribune - The couple first refinanced their $59,000 mortgage in 1999. They refinanced twice in 2006, using the money for home repairs, renovations and credit card bills.
2008-03-15 03:50:00 -
Refinancing basics may help with mortgage
Herald Times - Refinancing is when you take out a new mortgage on your home — usually at a lower interest rate, typically decreasing the amount of your payments.
2008-03-15 08:58:00 -
Jumbo mortgage loan rates coming down slowly
San Francisco Gate - Wells Fargo will let borrowers apply for a "high-balance conforming loan" and a lock in a rate starting Monday, says Brad Blackwell, national sales manager for Wells Fargo Home Mortgage.
2008-03-14 05:53:00 -
Fed Chief Shifts Path, Inventing Policy in Crisis (NYTimes.com via Yahoo! Finance)
Ben S. Bernanke, who has long argued that a central bank should act on consistent principles, now has to improvise.
2008-03-15 10:41:24 -
Eating higher prices (Jonesboro Sun)
JONESBORO — Every time a delivery truck pulls up to Couch’s Bar-B-Q, restaurant owner David Couch can expect to have a $10 to $15 fuel surcharge tacked onto his bill.
2008-03-15 10:42:12 -
Deal abound in Fort Lauderdale, Fla. (The Record)
Sales of existing homes in the U.S. fell for the sixth straight month in January to the lowest level since records began nine years ago, and median home prices slid for the sixth time in seven months.
2008-03-15 10:47:41