Mortgage and Financial News From 2007-12-3 Page 01

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  • Durham tax office warns of revaluation scams

    Raleigh News & Observer - We have said if a citizen has a recent appraisal that has occurred due to a home purchase or a refinance, we encourage its usage in the appeal process." The county sent revaluation notices to all citizens in November and included information about how ...
    2007-12-03 02:29:00

  • Jury out on Treasury's home loan proposed

    Hawk Eye - During the sunny days of the housing boom, many buyers were banking on the prospect that they could refinance into more affordable loans as the value of their homes soared. Now that home prices are dropping in large parts of the country, and broader ...
    2007-12-03 08:17:00

  • Paulson Says Subprime Loan Plan to Ease Economy Risks (Update7)

    Bloomberg - Paulson identified four categories of subprime borrowers: those who can afford to pay adjustable-rate loans; those who don't have ``the financial wherewithal to sustain home ownership;'' those who choose to refinance their mortgages -- which he ...
    2007-12-03 03:34:00

  • Paulson Urges Congress To Act on Loan Woes

    Wall Street Journal - ... may have trouble refinancing, for example, because sharp declines in home prices have left them owing more than their houses are valued at. Boston Fed research shows that 20% of borrowers with subprime ARMs nationwide should be able to refinance ...
    2007-12-03 08:56:00

  • Falling prices driving crisis

    Boston Globe - The recent spike in home foreclosures in Massachusetts is caused primarily by falling housing prices, and not by rising ... Meanwhile, states including Massachusetts have introduced programs to refinance troubled borrowers into more affordable loans ...
    2007-12-03 08:34:00

  • Beware of predatory swindlers peddling loans

    Asheville Citizen-Times - It seems to me that over the past few months I have received at least several phone calls and almost daily mail encouraging me to respond to an offer of immediate cash if I would refinance my home. I am always suspicious of such promotions. When I ...
    2007-12-03 09:10:00

  • BMO stock falls on Moody's action

    Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics Education World Americas Europe Asia-Pacific Africa-Mideast ... reflection of the continued deterioration in market value of SIV portfolios combined with the sector's inability to refinance ...
    2007-12-03 03:12:00

  • Paulson Outlines Mortgage Aid Plan (Washington Post)

    Treasury Secretary Henry M. Paulson Jr. unveiled new details of the Bush administration's mortgage-relief plan yesterday, including a proposal that would grant new powers to local governments to refinance the mortgages of struggling homeowners.
    2007-12-03 08:02:18

  • Equities fall despite hopes of rate cut

    Daily Telegraph - ... from buy to hold on the back of "slowing UK consumer spend and challenging credit ... Northern Rock, the stricken mortgage lender, was the biggest FTSE 100 faller ... pessimistic view on the macro situation, and if things turn out not to be as bad ...
    2007-12-03 06:11:00

  • Interbank rates fuel concern

    Financial Times - Bob Janjuah, chief credit strategist at RBS, said: “I have never seen things as bad in terms of trading credit. There are lots of ... However, a swathe of smaller European mortgage lenders do not have access to these other sources of finance and ...
    2007-12-03 03:48:00

  • UPDATE 1-U.S.'s Paulson sees mortgage plan before week end

    Reuters - Treasury Secretary Henry Paulson said on Monday he hoped to hammer out a mortgage ... Problems in the subprime market for borrowers with risky credit have spilled into ... to deal with all of the problems associated with the housing market and bad ...
    2007-12-03 08:31:00

  • WestLB to guarantee $25 billion in liquidity to five SIVs

    International Herald Tribune - Structured investment vehicles are at the heart of the financial crisis unleashed by the deteriorating U.S. mortgage market. Questions about the losses from bad SIV investments have shaken credit markets, and pushed up short-term interest rates as ...
    2007-12-03 12:13:00

  • Many with good credit got risky loans, study finds

    Winston-Salem Journal - Many analysts expect hundreds of thousands more loans could go bad over the next several years. The Bush ... The analysis also raises pointed questions about the practices of major mortgage lenders. Many borrowers whose credit scores might have qualified ...
    2007-12-03 08:13:00

  • Risk aversion keeps yen buoyant, Aussie falls

    Guardian Unlimited - Investors have hesitated to take risks, worried about more bad news from financial firms struggling with credit tightness and losses related to the ... Treasury Secretary Henry Paulson said on Monday he hoped a plan to spare homeowners facing mortgage ...
    2007-12-03 07:01:00

  • AP Business NewsBrief at 1:13 a.m. EST

    CNBC - ... after a pair of Federal Reserve officials on Monday expressed worry about the subprime mortgage crisis and its impact on banks and brokerages. Credit Card ... But with investors losing millions as Wall Street banks write down billions of dollars in bad ...
    2007-12-03 10:07:00

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