Mortgage and Financial News From 2007-12-15 Page 2
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Area reports record level of repossessed mortgages (Chattanooga Times Free Press)
From high-priced neighborhoods in Riverview to struggling areas such as East Lake, property foreclosures are forcing hundreds of Hamilton County residents out of their homes this year and holding down home values for others.
2007-12-15 09:16:45 -
The woman behind the subprime bailout
International Herald Tribune - Particularly troubling to her were a series of popular adjustable-rate mortgage loans - loans with teaser interest rates of 7 or 9 percent, but which would "reset" within a year or two at much higher interest rates. "That could often bring a payment ...
2007-12-15 12:13:00 -
Mortgage rates increase after slide
Raleigh News & Observer - WASHINGTON - Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's ...
2007-12-13 11:57:00 -
Investors own about one-fifth of Bay Area homes in foreclosure
San Francisco Gate - Doug Pollock, whose Florida company, Information Data Services, conducts private investigations of mortgage fraud primarily for title insurance companies, said fraud may be involved in many of the cases of investors facing multiple foreclosures. ...
2007-12-14 03:56:00 -
Anti-Scam Message Hits YouTube
Washington Post - Hagberg said a large fraud case discovered in Boston involves a group of homeowners targeted by a mortgage broker, who shared an ethnic connection with his victims. Because the case is still under investigation, Hagberg couldn't release any specifics ...
2007-12-15 08:34:00 -
Banks crack down on mortgage fraud
Financial Times - Banks are seeking to crack down on mortgage fraud as evidence mounts of a rise in the number of fraudulent borrowers. Abbey and Lloyds TSB are among the banks reporting a surge in the volume of potentially fraudulent mortgage applications in recent ...
2007-12-14 08:33:00 -
FTSE fliers and failures in a topsy-turvy year
Daily Telegraph - In the main, 2007 has been a year to forget for the financial sector, the biggest contributor to the index by number of companies (there are 21). Worst hit have been mortgage banks such as Alliance & Leicester, Bradford & Bingley and HBOS. Dragged ...
2007-12-15 04:52:00 -
Foreclosures Getting Worse In Minority Communities
CBS 2 Chicago - She says Countrywide and other mortgage companies have been targeting African-American homeowners. "If you are African-American with an income higher than a $100,000 you are five times more likely to have a subprime loan than if you are white, Asian ...
2007-12-15 02:44:00 -
Saith: Tough to meet deadline
Trinidad Express - It meant going through the mortgage companies," he said. Government also had to prepare the sites, he added. "Then there was the legal side, which involved the preparation of deeds. If the land had been vested in Caroni we could have used a ...
2007-12-15 08:27:00 -
Short-selling on FTSE250 at 3-year high
Daily Telegraph - News of the shorting activity follows another roller-coaster week in the London markets, which have witnessed huge swings in the value of several of Britain's biggest companies, particularly bank stocks. HBOS, Britain's biggest mortgage lender, lost ...
2007-12-15 04:52:00 -
Citigroup predicts 10pc fall in house prices
Daily Telegraph - Saunders said his worries had been compounded by signs that mortgage companies are tightening their lending standards as they pass on the higher cost of borrowing to customers. "It's going to be fairly bleak," he added. "I expect house prices to fall ...
2007-12-15 05:50:00 -
Between Concessions and Commissions, a Murky Kind of Math
Washington Post - However, if there was no discussion before you were legally obligated to sell your house, I believe that you should pay the broker based only on the reduced price -- after all, the $500,000 price is a sort of legal fiction to satisfy mortgage rules ...
2007-12-15 05:47:00 -
Dining in the dark: Kingston restaurant adopts a ‘lights out ...
Patriot Ledger - I loved it and here I always thought I hated papaya,’’ said Cydnee Hines, a mortgage broker in Quincy. Diners reported taking smaller bites and concentrating on flavors. The appetizers featured Peking duck, scallions and rich Hoisin sauce rolled ...
2007-12-12 03:59:00 -
Personalities: Syosset native offers free software for businesses
Newsday - ... trying to "make better" -- with a new company offering low-cost software solutions for small business -- solutions that, for example, would allow an executive at a remote location to invoice a customer and be reimbursed. The son of a mortgage broker ...
2007-12-12 03:59:00 -
Missouri AG Obtains Judgment Closing Fraudulent “Credit Repair ...
All American Patriots - Notify all consumers who purchased a membership, credit repair services, loan brokering services, mortgage brokering services or legal advice from the defendants between Jan. 2003 and Oct. 6, 2006 that the business is no longer allowed to provide ...
2007-12-12 03:59:00