Mortgage and Financial News From 2008-1-1 Page 31

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  • Initiative to aid families facing foreclosure (The Indianapolis Star)

    INDIANAPOLIS -- The Federal Home Loan Bank of Indianapolis, one of 12 government-sponsored regional banks, said it will lend $100 million in Indiana and Michigan to financial institutions to assist families facing foreclosure. The money could be used to modify or refinance mortgages. The initiative is called HomeRetain. (Star report)
    2007-12-31 11:56:24

  • Wall Street wraps up 2007 in a somber mood, but Dow has annual gain of more than 6 percent (The Globe Gazette)

    NEW YORK (AP) — Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would bring more of the uncertainty and turbulence of 2007.
    2008-01-01 12:52:59

  • PHH Scraps Sale as Blackstone Fails to Get Funding (Update1)

    Bloomberg - Jan. 1 (Bloomberg) -- PHH Corp., the New Jersey-based mortgage and vehicle leasing company, scrapped its $1.8 billion sale to ... Interest rates on loans rated B rose to 4.28 percentage points more than the three-month London interbank offered rate, a ...
    2008-01-01 03:25:00

  • All the indicators point to a future filled with problems and turmoil

    Chicago Sun-Times - Meanwhile, another rate difference will worsen the crisis facing the estimated 1.2 million mortgage holders whose adjustable rates will be reset this year -- tied not to the more favorable rates driven by the Fed but to LIBOR, which is not. The rating ...
    2008-01-01 03:03:00

  • Polk Home Sales Market Dropped Again in November

    The Ledger - Mortgage interest rates are near historic lows and the most current data shows decelerating price declines, along with a modest reduction in the number of homes on the market," said Lawrence Yun, chief economist of the National Association of ...
    2008-01-01 02:56:00

  • Sales of Existing Homes Rise, but Prices Keep Falling

    Times Daily - Despite falling prices and a decrease in mortgage rates, inventory of unsold homes in November was 4.27 million. WASHINGTON (AP) — Sales of previously owned homes nudged up in November, but that was not enough to improve the broader picture of a ...
    2008-01-01 01:59:00

  • Existing home sales up 0.4%

    Baltimore Sun - A dip in 30-year mortgage rates in November probably helped give nationwide existing-home sales the small boost that month, the association suggested. Yun said the small increase could be taken as a sign that the market might be stabilizing. That ...
    2008-01-01 06:10:00

  • Major banks raise interest rates to protect profits

    News.com.au - The major banks have yet to raise their standard variable mortgage rates because of political pressure during the election campaign. They are also keen to keep pressure on non-bank lenders, such as Wizard, which rely more heavily on international ...
    2008-01-01 05:48:00

  • Tenants rorting public housing

    News.com.au - The income fraud was revealed as part of an investigation by Daily Telegraph into the Department of Housing, which also ... Silly me, I was being honest and paying a mortgage and taxes, whilst these bludger's are rorting the system. Did the ...
    2007-12-31 02:03:00

  • Financial lessons learned from 2007

    Houston Chronicle - The subprime mortgage meltdown flattened people's inflated net worths, forcing many into foreclosure and bankruptcy. Other ... If your identity is stolen, freeze your credit files for a period of time and put a fraud alert on your identity. Lesson ...
    2007-12-27 03:55:00

  • Fighting a foreclosure crisis

    Inland Valley Daily Bulletin - These free workshops offer help on buying a home, paying a mortgage, building good credit, building a keen awareness for mortgage fraud, and a host of other financial obstacles. Bill Ruh, government affairs director of San Dimas-based Citrus ...
    2007-12-30 03:59:00

  • 103 lawyers join ranks of Queen's Counsel

    Edmonton Journal - Yereniuk, a special prosecutor with Alberta Justice, has been prosecuting a massive mortgage fraud, believed to be the biggest in Alberta history, since 2005. Trials associated with the $30-million fraud are expected to last until 2010. Kozak, who ...
    2007-12-31 02:17:00

  • Resolve to fix housing market

    Herald Tribune - Toughen laws against mortgage fraud, and boost enforcement to hold violators accountable. (The FBI called Florida a mortgage fraud hot spot. Several notorious cases, including some in Southwest Florida, have been prosecuted.) Investigate Wall Street ...
    2008-01-01 05:27:00

  • Behind 90210's big, bold housing scam

    Chicago Tribune - Mortgage fraud increased eightfold, from 5,623 in 2002 to 46,717 this year, according to the Federal Bureau of Investigation. But few cases compare to an alleged three-year scam that used trumped-up appraisals to swindle Lehman Bros. and another ...
    2007-12-31 11:57:00

  • PHH Scraps Sale as Blackstone Fails to Get Funding (Update2)

    Bloomberg - Jan. 1 (Bloomberg) -- PHH Corp., the New Jersey-based mortgage and vehicle leasing company, scrapped its $1.8 billion sale ... suburb of Mount Laurel, New Jersey, has provided mortgages and related services such as billing for other companies to offer ...
    2008-01-01 04:01:00

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