Mortgage and Financial News From 2007-11-18 Page 14
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Uncertainty for retailers can lead to big Friday savings (The Arizona Republic)
As consumers nervously face rising mortgage rates, slumping home sales, higher food and gas prices and general pessimism about the economy, the retail industry is wondering if Black Friday will mark the start of a gloomiest shopping in a decade.{b} Make sure the shopping list fits your budget {b} How to manage store credit cards
2007-11-17 06:48:28 -
Jeffrey Scharf: Greed overcame good sense in mortgage market
Santa Cruz Sentinel - Mortgage lenders would have been more circumspect knowing that they, not an insurer, owned the risk on subprime loans. The secondary market would have been less willing to purchase mortgage securities that well-respected insurers wouldn't touch ...
2007-11-17 11:52:00 -
Volatile markets withering latest IPO crop
Chicago Tribune - Chimera Investment Corp., which plans to buy and sell home loans and mortgage-backed bonds, fell as much as 4 percent Friday in its first day of trading. The New York-based company raised $500 million in an initial share sale Thursday. Companies that ...
2007-11-17 11:52:00 -
Struggling mortgage payers get guidance
Modesto Bee - Patty Amador, owner of Ambeck Mortgage Associates in Modesto, agreed that the further behind homeowners get on their mortgage, the harder it is to get lenders to renegotiate the loans. "You must be persistent, and I can't emphasize this enough ...
2007-11-18 01:40:00 -
'Piggyback' downpayment loans are drying up
Allentown 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. The availability of second-mortgage financing for subprime borrowers ...
2007-11-17 11:59:00 -
Age limits on reverse mortgages drop to 60
Everett Herald - Providential Home Income Plan, Inc., a venture capital-funded company whose sole purpose was to originate and service reverse mortgage loans, offered a fixed-rate reverse mortgage in the early 1990s. While the company was one of the first to begin ...
2007-11-17 11:52:00 -
Lending to relatives? Read this.
Boston Globe - The oldest of these sites, Virgin Money of Waltham, formerly known as Circle Lending, is designed to facilitate personal, business and mortgage loans between relatives and friends. chief executive Asheesh Advani says the company manages $200 million ...
2007-11-17 06:44:00 -
Creative Loans, Creative Compensation (New York Times)
Executives at NovaStar Financial, a subprime mortgage originator whose stock has dropped from $40 to $1.72, have pocketed millions in compensation.
2007-11-17 02:00:10 -
Behind the meltdown: No-proof loans fed mortgage bubble (The Sacramento Bee)
If you bought a house in the Sacramento area last year, chances are your annual income came to about $80,000. But your loan application said you earned a good deal more.
2007-11-18 12:13:45 -
Asian markets fall after US declines on worries about the economy ...
Jakarta Post - It was the Nikkei's second lowest close this year. A strong yen affects the performance of Japanese exporters by ... Property developers fell on concerns that higher interest rates will hurt mortgage loan demand and cloud the sector's earning prospects
2007-11-18 12:28:00 -
U.K. House-Price Growth Will Stall, Nationwide Says (Update2)
Bloomberg - ... stall next year for the first time in more than a decade as higher interest rates ... in 2008, compared with the most recent annual increase of 9.7 percent, the mortgage ... An index of house prices declined to the lowest level in two years last month, the ...
2007-11-16 01:49:00 -
UAE - one of world's most attractive expatriate destinations, in ...
Zawya.com - The lowest ranked Asian country is India at 14=. In the Americas, Mexico (8 ... obvious impact on take-home pay, and in some countries with low or zero tax rates ... to five years, young professionals can fast-track their savings to afford a mortgage ...
2007-11-18 02:08:00 -
Before You Shop, Be Credit-Card Smart
Wall Street Journal - When you've found which card has the lowest rate, put the rest of them away in a ... If you're going to need a mortgage or other large loan in the next year or so, think ... doing so can cause your credit score to drop enough that it may affect the rates a ...
2007-11-17 07:49:00 -
Behind the meltdown: No-proof loans fed mortgage bubble
Sacramento Bee - The lowest mortgage interest rates in years triggered a home-buying binge in Sacramento, driving up prices. The combination of low interest rates and higher prices started a stampede into riskier adjustable rate mortgages that came with lower initial ...
2007-11-17 11:52:00 -
Steps to reduce taxes
Athens Banner-Herald - And perhaps you pay coming expenses - like January's mortgage payment or property taxes - in 2007 so you can use the ... Rather than waiting for unpleasant tax surprises when you sit down with your return, pull out a recent pay stub, calculate ...
2007-11-16 03:54:00