Mortgage and Financial News From 2007-12-15 Page 10
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CMG's 'Accelerator' Mortgage Deserves a Second Look
Washington Post - CMG's loan is a first lien and is used to purchase properties and to refinance existing loans. A line of credit is usually a second lien and is used for other purposes, such as home improvements and consolidating debts. A line of credit cannot be ...
2007-12-15 05:47:00 -
Senate votes to help strapped homeowners (Fort Worth Star-Telegram)
By JESSE J. HOLLAND The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would allow the Federal Housing Administration to back refinanced loans for borrowers who are delinquent on payments because their mortgages are resetting ...
2007-12-15 04:31:04 -
Theft of Elder Nation: An editorial series
Contra Costa Times - The Davises were victims of a legal but deceptive mortgage lending practice ... predatory loans and he didn't have enough income to qualify for another refinance. ... Good information is the best protection. It's not just a piece of property that is ...
2007-12-14 02:23:00 -
Senate OKs bill to help homeowners refinance
Modesto Bee - ... goodbye to Coach Glines, or is that 'Sir'? (19) Too much information ... WASHINGTON -- The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into ...
2007-12-15 03:09:00 -
New rules urged for risky home loans (Seattle Times)
A statewide mortgage task force on Friday recommended new rules to prevent consumers from losing their homes to risky loans they can't afford...
2007-12-15 12:23:54 -
Senate mortgage assistance aims to head off rate spikes (The Arizona Republic)
Legislation to help borrowers get federal backing on home loans comes at a key time.
2007-12-14 09:59:58 -
Senate Votes to Help Strapped Homeowners (The Herald-Sun)
The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
2007-12-14 10:38:30 -
AP Business NewsBrief at 8:14 a.m. EST
CNBC - WASHINGTON (AP) _ The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would ...
2007-12-15 05:11:00 -
Larry Elder: Government as subprime savior
Orange County Register - Comments | Recommend Our catastrophe-obsessed traditional media calls it the subprime mortgage "crisis" or "meltdown." Here's what happened: Borrowers with shaky creditworthiness received low interest "teaser" rates. No problem, as long as housing ...
2007-12-15 02:55:00 -
Senate votes 93-1 to ease mortgage crisis
Buffalo News - WASHINGTON — The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would allow ...
2007-12-15 06:37:00 -
The New Entitlement
Washington Post - Although the freeze of adjustable mortgage rates amounts to a revision of perhaps hundreds of thousands of contracts, it will help a relatively small number of people. And it will not help scrupulous borrowers who have scrimped and sacrificed to ...
2007-12-15 07:05:00 -
Ways to come out ahead in a time of falling rates
Chicago Tribune - In all three situations, the Federal Reserve plays an underlying role. And since September, that role has been to help push the interest rates on your credit card, mortgage and savings accounts lower. On Tuesday, the Fed lowered its benchmark rate to ...
2007-12-15 06:30:00 -
Mortgage Rates Climb This Week (Washington Post)
WASHINGTON -- Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers.
2007-12-13 09:45:21 -
Leader of ID theft ring sentenced to prison
Seattle Post Intelligencer - Griffin on Friday to five years of supervised release and ordered him to pay more than $241,000 in restitution for conspiracy, identity theft and bank fraud. The U.S. attorney's office in Seattle says Griffin recruited employees of mortgage and escrow ...
2007-12-13 03:58:00 -
Ameriquest settlement checks on the way
Seattle Post Intelligencer - The mortgage lender agreed to pay $325 million last year to settle complaints from states. They accused the company of fraud by pressuring consumers into loans that trapped them in debt and put them at risk of losing their homes. McKenna says ...
2007-12-14 12:14:00