Mortgage and Financial News From 2008-2-1 Page 15

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  • Home makeover went to rewarding extremes (Small Town Papers News Service)

    Extremely rewarding. That’s how Jon Lariviere, described the experience of working with hundreds of volunteers and ABC’s Extreme Home Makeover production team to build a dream home for a Manchester family that lost everything in the flood of May 2006....
    2008-02-01 06:34:50
  • Massachusetts Accuses Merrill of Fraud (NYTimes.com via Yahoo! Finance)

    The state’s top securities regulator accused Merrill Lynch on Friday of defrauding the city of Springfield with subprime-linked investments.
    2008-02-01 06:40:00
  • 8 Banks Discuss Aid for Bond Insurer (NYTimes.com via Yahoo! Finance)

    The banks are considering injecting capital into the Ambac Financial Group and assuming some of the risks associated with guarantees written by the company.
    2008-02-01 06:40:01
  • Best Week Since March ’03 for 2 Indexes (NYTimes.com via Yahoo! Finance)

    Wall Street set aside anxiety over news that the economy lost jobs last month and focused on Microsoft’s bid for Yahoo.
    2008-02-01 06:40:01
  • Charity sees mortgage calls soar

    BBC News - The Council of Mortgage Lenders (CML) has already said it expects the number of repossessions to rise to 45,000 in 2008, up from 30,000 in 2007, although still well below the peak of 75,000 seen in 1991. Shelter accused some lenders of not doing ...
    2008-01-30 03:58:00
  • Bush Says `Serious Signs' Economy Weakened, Government Can Help

    Bloomberg - He also said the government has a responsibility to help homeowners who were ``deceived'' by their mortgage lenders. The U.S. unexpectedly lost jobs for the first time in more than four years, increasing the odds the economy will fall ...
    2008-02-01 09:15:00
  • Northern Rock Set To Receive 2 Proposals By Monday Deadline

    CNN Money - Meanwhile, other bidders remain thin on the ground, with most of the major U.K. banks and mortgage lenders hoarding their own positions in difficult conditions. J.C. Flowers, the U.S. private equity firm previously interested in Northern Rock and ...
    2008-02-01 06:37:00
  • Bair Says Agencies Plan Loan-Modification Guidelines (Update2)

    Bloomberg - Feb. 1 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said U.S. bank regulators are developing guidelines to push mortgage-modification efforts by seeking extensive data on lenders' aid for subprime borrowers. ``We need to ...
    2008-02-01 02:37:00
  • Bush Says `Serious Signs' U.S. Economy Is Weakening (Update2)

    Bloomberg - He said the government has a responsibility to help homeowners who were ``deceived'' by their mortgage lenders. ``The government can help,'' Bush said, citing the Federal Housing Administration's capacity to help refinance loans. ``We're ...
    2008-02-01 02:51:00
  • A Sign of Hope for the Housing Market

    US News and World Report - The FBI said Tuesday it was working with the Securities and Exchange Commission to investigate 14 companies, from mortgage lenders to investment banks, for possible accounting fraud, insider trading, or other issues connected to subprime mortgage ...
    2008-02-01 11:45:00
  • Reverse mortgages a growing concern

    Atlanta Journal Constitution - Washington — Now that the subprime mortgage business has crashed, many lenders are reviving their incomes by persuading older homeowners to take out reverse mortgages. Many retirees report being pleased with their reverse mortgages, but consumer ...
    2008-02-01 04:46:00
  • Bankrupt Scotland: insolvency figures soar 15% - The Herald

    Bankrupt Scotland: insolvency figures soar 15%The Herald, UK - 2 hours ago... payments are likely to get worse as the effects of the worldwide credit crunch and rising mortgage payments make themselves felt over the coming year. ...
    2008-02-01 04:02:35
  • ‘Soft’ option debt scheme falls out of favour as lenders take hard ... - The Herald

    ‘Soft’ option debt scheme falls out of favour as lenders take hard ...The Herald, UK - 2 hours ago... other lenders have become concerned about their exposure to loans to those with poor credit histories after seeing the effects of the sub-prime mortgage ...
    2008-02-01 04:02:36
  • It’s crunch time for borrowers - Times Online

    It’s crunch time for borrowersTimes Online, UK - 2 hours agoJoe Average can still find good mortgage deals, if he looks hard enough.” The problem is that not all mortgage lenders are offering good deals, ...
    2008-02-01 04:06:03
  • Bankruptcy hits a record number of Scots in 2007 - Scotsman

    Bankruptcy hits a record number of Scots in 2007Scotsman, United Kingdom - 2 hours agoThat's a financial commitment akin to a mortgage. "Credit card debt has also become more expensive with recent increases in charges, particularly for making ...
    2008-02-01 04:09:43