Mortgage and Financial News From 2007-12-26 Page 18

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• High-rolling banker lands lendees in hot water

  Buffalo News - When homeowner Christopher Aultman wanted to refinance the 30- year mortgage on his home in Victorville, Calif., he called Quick Loan Funding. Aultman, a mechanic for Union Pacific Railroad, needed to tap $20,000 in equity to pay off mounting debts ...
  2007-12-26 03:32:00

• Credit loss could hit $US1trillion

  Australian IT - The funds were used by HOLC to buy delinquent home loans from lenders and refinance them directly with consumers on flexible terms. HOLC offered to finance up to 80 per cent of a home's assessed value to a maximum of $US14,000, about $US225,000 in ...
  2007-12-26 05:12:00

• Webster Chosen as a Lender for New Mortgage Program Offered by ...

  Forbes - ... to help low- and moderate-income borrowers who took out subprime, adjustable-rate loans to purchase their first home. (Logo ... CT FAMLIES was created to enable first-time homebuyers to refinance their adjustable-rate mortgages into 30-year, fixed rate ...
  2007-12-26 04:58:00

• Are You In the Christmas Spirit? How Can You Be Certain?

  Post Chronicle - Dropping all the loose change from my pockets into the Salvation Army kettle - after confirming that the attending Santa-dude speaks English! Applying for a refinance of my Home Equity Line of Credit to consolidate the massive debt accumulated this ...
  2007-12-26 05:41:00

• Amount of unpaid credit card bills is rising

  MSNBC - Debt eventually leaks into other areas, whether it starts with the mortgage and goes to the credit card or vice versa,” said ... Even after the recent spike in bad loans, the credit card business is still quite lucrative, thanks to interest rates ...
  2007-12-24 08:21:00

• Undernews Analysis

  Slate - Undernews Underanalysis: Still impressive, near-total lack of MSM pickup of the National Enquirer 's Edwards scandal allegations .** My guess regarding MSM thinking is 1) Nobody wants to hurt Elizabeth Edwards and 2) Everybody figures that if John ...
  2007-12-26 04:29:00

• Fees were another cash cow in subprime mortgage deals

  Seattle Post Intelligencer - As home prices rose, Sadek pushed mortgages to borrowers with bad credit. Subprime loans grew to 21 percent of all U.S. home loans last year from 7 percent in 2001, according to Inside Mortgage Finance. Banks drove that growth because they could ...
  2007-12-23 03:53:00

• Profit Outlook Darkens for Big Banks

  Wall Street Journal - The subprime crisis and ensuing credit crunch have thrown a wrench into the highly ... Just how bad the earnings slowdown could be is tough to gauge. That is because ... sell business model "encouraged reckless lending" that triggered the current mortgage ...
  2007-12-26 02:56:00

• How to play bonds in 2008

  CNN Money - ... turmoil in the stock markets, it's the fixed-income markets that have been most shaken by the mortgage tumult and subsequent drying up of credit ... The bad news is that the value of lower-quality bonds will drop. So investors who need bonds for ...
  2007-12-26 02:49:00

• Debt woes spread to credit cards

  Colorado Springs Gazette - ... for a sputtering economy. “Debt eventually leaks into other areas, whether it starts with the mortgage and goes to the credit ... of letters monthly offering easy sign-ups for new plastic. Even after the recent spike in bad loans, the credit card ...
  2007-12-26 04:58:00

• News Minute: Post-holiday shopping...Holiday grief...Rescue effort in ...

  WDAM-TV - The Latest in House and Home House & Home Main Today's Mortgage Rates Money This Week in Money Money Home For Small Businesses Credit and Debt Insurance Center Real Estate ... Associated Press - December 26, 2007 5:53 AM ET NEW YORK (AP) - Only 364 shopping days ...
  2007-12-26 12:26:00

• Shopping frenzy as store discounts hit 70pc

  Daily Telegraph - ... attempt to make up for the slow build-up to Christmas in the wake of the credit ... October, November and December as parents, who have been affected by higher mortgage ... The January sales will be a retail battlefield, which is bad news for retailer ...
  2007-12-26 05:41:00

• Ahead of the Bell: Merrill Lynch

  Forbes - ... Lynch to take a writedown of up to $7 billion because of bad bets on the mortgage industry. The writedowns come on bonds and other debt backed by mortgages, many of which are backed by subprime mortgages - loans given to customers with poor credit ...
  2007-12-26 05:27:00

• Subprime mortgage crisis crimps valley, state economies

  Silicon Valley - Statistics and factoids aside, here's the scariest thing about the subprime mortgage crisis of 2007: Nobody knows for sure just how bad it could get. ... For businesses, the amount of credit available has been tightened considerably. That will make it ...
  2007-12-26 12:47:00

• Analysts look for modest stock growth

  MSNBC - In August, as credit markets went haywire over losses stemming from bad mortgage loans, the Fed swooped in and began pumping money into the global financial system. So far the central bank has lowered the benchmark overnight lending rate three times ...
  2007-12-26 04:29:00

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