Mortgage and Financial News From 2007-11-18 Page 13
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'Piggyback' downpayment loans are drying up (The Morning Call)
The common practice of homebuyers with shaky credit taking out second mortgages for downpayments is ending because there's no investor demand for securities backed by such loans.
2007-11-18 12:22:41 -
Worcester County's market withers
Boston Online - ... 000 on a new, larger house in Southborough, but can't buy until he unloads his current mortgage. Mansour's predicament is one reason there were only 79 ... Steve Levine, a realtor for Re/Max First Choice in Northborough, predicted that interest in ...
2007-11-18 01:40:00 -
Rumor of Scandal!
Slate - When solving a problem requires that a powerful interest group give up its most ... Rumors only become news when they are confirmed, cross-checked and responded to ... Did the 2005 bankruptcy reform exacerbate the subprime mortgage crisis? Blogger (and ...
2007-11-18 01:47:00 -
Don't let credit score decide financial path
Chicago Tribune - The idea is to use only a small portion of each card's credit limit to boost our ... your credit score. It doesn't. Even if it did, I'd rather save on the interest ... particularly important when you are establishing credit or applying for a mortgage ...
2007-11-17 11:52:00 -
Don't risk your retirement fund trying to cover the mortgage
Allentown Morning Call - You're barely keeping up with the mortgage as it is. Now the interest rate on your adjustable-rate loan is about to reset higher. ... But that's only if your mortgage troubles are temporary, and not one of those situations in which you bought more ...
2007-11-18 04:17:00 -
Property-tax defaults on the rise
Miami Herald - ... was the final blow for Astride Hercule -- $5,400 due April 1, on top of mortgage ... sold off each June to investors, who pay up the accounts in exchange for an interest ... heavy toll on homeowners. Tax cuts to be voted on Jan. 29 would offer only modest ...
2007-11-17 11:59:00 -
Yes dear readers, it can be a good thing to rent
St. Louis Post-Dispatch - A fixed-rate interest-only loan usually is about three-eighths of a percentage point higher than a 30-year mortgage. That means the interest-only loan gives you about $135 extra each month to invest on a $200,000 mortgage. That's not enough to offset ...
2007-11-18 01:04:00 -
It's best to keep making payments
Miami Herald - I feel that is my only choice. A: As you knew when you obtained that ''negative am'' mortgage, you had a very low monthly payment. The unpaid interest portion of each payment was added to your mortgage balance. The result is you owe more than you ...
2007-11-18 02:58:00 -
Mortgage holders turn against govt: poll (Tenterfield Star)
Mortgage holders are set to give the coalition government a lashing, with a new poll showing debt-burdened homeowners are turning to Labor. The Taverner poll published in Fairfax newspapers, found that Labor had built up a 14 per cent lead on a two-party preferred basis.
2007-11-17 01:44:59 -
Don't lose house plus money for retirement (Orlando Sentinel)
Tapping your 401(k) to make mortgage payments is a bad idea, experts warn. You're barely keeping up with the mortgage as it is. Now the interest rate on your adjustable-rate loan is about to reset higher.
2007-11-18 01:28:48 -
Funny Songs Are Inspired by Sad Times for the Rich (New York Times)
Merle Hazard bills himself as America?s first and only country music star to sing about mortgage-backed securities, derivatives and leveraged buyouts.
2007-11-17 03:10:47 -
Here's how to improve your credit health
St. Petersburg Times - In recent years marginal credit scores meant you'd pay higher interest rates on mortgages and other loans. Now you may ... It helps to have other types of credit such as a mortgage, a home equity loan or a car loan or other installment loan from a bank.
2007-11-17 09:22:00 -
Fairfield balances on the edge as housing prices plunge
San Francisco Gate - Fairfield's building boom was one little piece of a vast national housing bubble, which saw home prices soaring at double-digit rates year ... Now, with the mortgage market in crisis and buyers not to be found, housing in Fairfield is flat on its back ...
2007-11-18 03:41:00 -
Click thumbnails to zoom
Detroit Free Press - Tim Clyne is dealing with a house that has two mortgages and a new mortgage on his custom-built home in Shelby Township. This is his ... Search New Construction and Existing Homes across metro Detroit and Michigan. • Mortgage rates from lenders ...
2007-11-18 02:58:00 -
WASHINGTON DIGEST: Bill linking war funding, deadline fails ...
Las Vegas Review Journal - In response to a growing number of home foreclosures, the House voted 291-127 last week to revamp the mortgage industry. Consumers have defaulted on their home loans as interest rates on adjustable rate mortgages have increased ...
2007-11-18 01:54:00