Mortgage and Financial News From 2007-9-9 Page 15
Previous Day: 2007-09-08
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State program rescues at-risk homes
Rochester Democrat and Chronicle - ... right now," said Christine Nothnagle, president of Nothnagle Home Securities, the realty company's mortgage division ... M&T Bank is also a lender in the Keep the Dream program, having sent its mortgage lenders to training programs the past two weeks ...
2007-09-09 01:39:00 -
Getting mortgage help
Detroit Free Press - The lender would agree to forgive part of the mortgage. But under the current rules, the Internal Revenue Service would treat that forgiven loan as income to the borrower. Say you owe $150,000 on your loan but sell your home for $130,000. In that ...
2007-09-08 06:37:00 -
Bargain hunters buy up houses
Baltimore Sun - City home sales have dropped considerably since the market peak, when about 70 percent of ... deal he struck this summer and expects to go to settlement on this month, he said, the lender agreed to waive $28,000 of the balance on a $65,000 mortgage.
2007-09-09 03:27:00 -
Housing Market Problems Lead to Job Cuts
NPR News - Weekend Edition Saturday , September 8, 2007 · On the heels of a report that the economy lost jobs in August for the first time in four years, the nation's largest home-mortgage lender said it plans to lay off as many as 12,000 workers. Countrywide ...
2007-09-08 04:35:00 -
Frank checks tongue as he wields power
Boston Globe - ... feels he has a responsibility to find common ground, but when someone is losing his home, there is no common ground," said Bruce Marks, chief executive of Neighborhood Assistance Corporation of America, an advocacy group and nonprofit mortgage lender ...
2007-09-09 01:39:00 -
Many buyers suddenly find mortgage cash drying up
News-Democrat - Lisa Meserole was two weeks away from closing on her new condo when she got a shock: Her lender, American Home Mortgage, was not going to fund her loan -- or for that matter, any loans -- because the company was filing for bankruptcy. "You want to ...
2007-09-09 12:56:00 -
Mortgage lender struggles; Valley impact unknown (East Valley Tribune)
Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
2007-09-08 05:05:26 -
Many buyers suddenly find mortgage cash drying up (Belleville News-Democrat)
Lisa Meserole was two weeks away from closing on her new condo when she got a shock: Her lender, American Home Mortgage, was not going to fund her loan -- or for that matter, any loans -- because the company was filing for bankruptcy.
2007-09-09 01:03:41 -
Mortgage lender: Layoffs coming (Albuquerque Tribune)
Countrywide Financial, the nation's largest mortgage lender, said late Friday that it would eliminate as many as 12,000 jobs, which would be the biggest round of layoffs in the troubled housing industry.
2007-09-08 08:02:04 -
Wall Street drops sharply on weak jobless report
Providence Journal - While the employment report clearly unnerved an already jittery Wall Street, some investors had been looking for a weak showing, arguing that a drop in employment could offer adequate reason for the Federal Reserve to lower short-term interest rates ...
2007-09-08 02:48:00 -
Employment falls for first time in four years
Austin American-Statesman - WASHINGTON — The number of U.S. jobs fell last month for the first time in four years, sending stock prices plunging, bringing calls for the Federal Reserve to cut interest rates and raising fears of a recession. Analysts blamed the decline of 4 ...
2007-09-08 06:56:00 -
The Big Picture l
Economic Times - This rise was mainly due to high prices of crude and speculation about interest rates in Europe. However on September 6, trading was active with gold rising from $695 to $705. This $10 rise in gold prices was due to bullish sentiments cause by ...
2007-09-09 12:56:00 -
Lock in a CD rate in case Fed cuts rate
Baltimore Sun - ... in longer-term certificates of deposit soon, at least with a portion of their savings, in case rates begin to slide. "Locking in a CD is ... The Fed faces a difficult decision with interest rates because policymakers are not sure whether the summer ...
2007-09-09 12:21:00 -
Now is time to lock in rate on CDs, bank funds (The Arizona Republic)
People with money in the bank soon might help foot the bill to stabilize Wall Street. Many investment pros are convinced that the Federal Reserve will cut its benchmark short-term interest rate next week to ease the worrisome credit crunch rooted in the housing slump.
2007-09-08 10:41:42 -
FED MAY PLUCK YOUR SAVINGS (Orlando Sentinel)
An analyst advises, 'locking in a CD is particularly attractive now,' just in case. People with money in the bank soon may help foot the bill to stabilize Wall Street.
2007-09-09 01:39:27