Mortgage and Financial News From 2007-12-15 Page 8
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Market is off its Rockers
Sunday Herald - Then the broker came back saying that I could have a variable-rate, interest-only mortgage on a self-certification basis of £1130 a month. This would have left me with £370 a month to live on and was plainly unaffordable. But the broker was ...
2007-12-15 11:23:00 -
Canadians Snapping Up American Homes
Chicago Tribune - The mortgage meltdown, combined with a surging Canadian currency, has Farley -- and ... dollar) hit a dollar ten, it really created a real buzz for Canadians, not only ... Still, with so many homes on the market, the interest by Canadians isn't about to ...
2007-12-15 08:46:00 -
A Good Credit Score Puts Help at Risk
Washington Post - It may be the only test you flunk if you score too high: It's called the FICO ... arcane guidelines governing which homeowners qualify for "fast-track" interest rate ... Dec. 6 at the White House , is a voluntary effort by major lenders, mortgage ...
2007-12-15 07:13:00 -
Tests subprime borrowers must pass for an interest-rate freeze (Seattle Times)
It may be the only test you flunk if you score too high.
2007-12-15 02:05:19 -
AP Business NewsBrief at 12:20 p.m. EST
CNBC - WASHINGTON (AP) _ People taking out home mortgages may gain new protections soon ... the Federal Reserve chairman and his fellow Fed policymakers cut interest rates by ... WASHINGTON (AP) _ The Senate moved against the worsening mortgage crisis Friday ...
2007-12-15 09:14:00 -
Senate Takes Aim at US Mortgage Crisis
Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... thousands of Americans facing foreclosure because of the ballooning interest rates ... approved 93-1, is the Senate's first attempt to address the looming subprime mortgage ...
2007-12-14 10:27:00 -
Shop around before deciding on mortgage broker (Austin American-Statesman)
When home buyers need suggestions about where to find a good mortgage broker, they often turn to real estate agents, but, as with any recommendations, these referrals should be approached carefully.
2007-12-15 10:04:25 -
Senate passes bill to help homeowners in mortgage crisis (The World)
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.
2007-12-15 10:26:40 -
Shop around before deciding on mortgage broker
Austin American-Statesman - Mortgage brokers say real estate agents sometimes steer clients to in-house mortgage brokers without making such connections clear, thereby leading inexperienced buyers into costlier loans than they could have found if they had shopped around. "These ...
2007-12-15 09:50:00 -
Senate passes subprime legislation
Financial Times - The bill raises the limit on the number of loans available through the Federal Housing Administration by allowing the federal agency that insures mortgage loans to halve the required downpayment for an FHA loan. It also increases the maximum ...
2007-12-14 07:02:00 -
Democrats may commit the real mortgage fraud
Chicago Tribune - Many mortgage firms have gone bankrupt. And if these loans are so unconscionable, the question is not why the foreclosure rate is so high but why it's so low. According to the Mortgage Bankers Association, less than 5 percent of subprime adjustable ...
2007-12-15 06:51:00 -
Fed planning steps to crack down on shady mortgage lending practices
CNBC - Mortgage lenders say these loans are appropriate for many borrowers, including those who are self-employed and cannot easily document their income. Consumer groups say many borrowers who could document their income are not aware they are getting a ...
2007-12-15 08:31:00 -
Commercial sales outlook turns darker
Chicago Tribune - ... on the market, been pulled off, fallen out of contract or been held back despite the owner's desire to lure investors or buyers, a degree of blame goes to the global financial turmoil caused by the failure of subprime residential mortgage loans ...
2007-12-15 10:40:00 -
Senate passes measure to ease mortgage crisis (Concord Monitor)
The Senate moved against the worsening mortgage crisis yesterday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
2007-12-14 10:27:31 -
Senate passes mortgage legislation (Albuquerque Tribune)
The Senate voted to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The effort is to help stem the mortgage crisis.
2007-12-15 08:11:04