Mortgage and Financial News From 2007-8-31 Page 16

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  • Location is always key

    Georgia Straight - ... makes sense to let people who don’t own cars borrow more for a mortgage, all other things being equal, because they don’t have to fork over as much money to maintain a motor vehicle. In the U.S., so-called “smart-commute mortgages” calculate ...
    2007-08-30 04:22:00

  • Forestalling Foreclosures

    Washington Post - Then, adjusting for credit score, calculate how large of a mortgage those payments can support. The size of this new mortgage will be smaller than the old one (otherwise, a simple refinancing would have been possible). The difference between the old ...
    2007-08-31 03:57:00

  • CREDIT WRAPUP 2-Bush, Bernanke to launch twin subprime assault

    Reuters - ... to mainly poor people who have been squeezed as interest rates climbed, have fostered a liquidity crisis around the globe as banks have scrambled to calculate their exposure to the sector. The risk of a credit squeeze arising from mass mortgage ...
    2007-08-31 08:36:00

  • Metro-area home prices up slightly (Denver Post)

    Home prices in Denver and Aurora rose a mere 0.76 percent in the second quarter compared with the same period in 2006, according to a home-price index released Thursday by the federal government.
    2007-08-31 07:29:22

  • Forestalling Foreclosures (Washington Post)

    Considering the projections for the number of home foreclosures in the next couple of years -- estimates now start at 1 million annually and go up from there -- you'd have thought there might be more ideas floating around for dealing with this economic, social and political calamity.
    2007-08-31 03:26:14

  • Bush, Bernanke to launch twin subprime assault (Mail and Guardian)

    United States President George Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut.
    2007-08-31 09:15:47

  • Bush and Bernanke to launch twin subprime assault (Reuters via Yahoo! Asia News)

    LONDON (Reuters) - U.S. President George W. Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut.
    2007-08-31 08:51:03

  • How U.S. Mortgage Crisis Affects Global Market

    MSNBC - Spreading things like U.S. mortgage risk around the world was supposed to make us ... mess first rattled global stock markets, financial news has been mainly bad ... In an Aug. 15 report out of London, Credit Suisse warned that the global financial ...
    2007-08-30 08:40:00

  • Thornburg Mortgage Sees Return to Normalcy

    Street.Com - The sale, announced and completed within hours this morning, eased pressures tied to credit that have been ravaging mortgage companies. ... been able to tap those funds in the last month after investors started fleeing subprime loans gone bad. ...
    2007-08-30 09:01:00

  • Stocks close mixed on economy, credit worries

    Seattle Times - And given all of the mortgage market troubles, "There is a ... To some investors, that's not bad news, because weaker-than-anticipated economic readings bolster the argument for a rate cut, which could loosen up the credit markets.
    2007-08-30 08:54:00

  • H&R Block May Shut Down Mortgage Unit If Sale Fails (Update4)

    Bloomberg - Aug. 30 (Bloomberg) -- H&R Block Inc., the biggest U.S. tax- preparation company, said it may shut a subprime-mortgage unit if ... include waiving a condition that requires Option One to have $2 billion in loans at closing and $8 billion of credit lines ...
    2007-08-30 12:59:00

  • WestLB Posts Loss After EU604 Million of Bad Trades (Update3)

    Bloomberg - WestLB Posts Loss After EU604 Million of Bad Trades (Update3) By Aaron Kirchfeld and Elena Logutenkova Aug. 30 (Bloomberg ... The highest default rate in a decade on loans to American home owners with patchy credit has sparked credit-market turmoil ...
    2007-08-30 07:28:00

  • McGraw-Hill replaces S&P chief

    Financial Times - European Union market watchdogs are also to meet with credit rating agencies to discuss their role in the subprime mortgage crisis. S&P and Moody’s have cut ratings and previous forecasts on bad subprime loans and reassessed billions of dollars of ...
    2007-08-31 06:56:00

  • Credit concerns drive Wall Street lower

    Reuters - NEW YORK (Reuters) - U.S. stocks fell on Thursday on mounting concerns that credit market upheaval will erode bank profits and ... And then you have high-profile analysts reminding the market that there are probably bad earnings from the financials ...
    2007-08-30 09:37:00

  • Bad loans slash Freddie Mac profit

    Boston Globe - ... set aside more than $300 million in the second quarter to account for bad loans ... McLean, Va.-based Freddie Mac said it recorded the provision for credit losses in ... losses more than doubled on costs to finance its money-losing subprime mortgage unit.
    2007-08-31 07:46:00

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