Mortgage and Financial News From 2007-12-3 Page 9

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  • Alltel Completes Offering of $1 Billion Aggregate Principal Amount of ...

    Forbes - The net proceeds from the sale of the Senior Toggle Notes were used to refinance a portion of the $2.5 billion senior unsecured PIK toggle interim loan facility entered into on Nov. 16, 2007, as part of the financing of the Company's merger with an ...
    2007-12-03 09:50:00

  • TomTom launches 500 mln eur equity offering to finance Tele Atlas buy ...

    Forbes - AMSTERDAM (Thomson Financial) - TomTom NV said it will launch an equity offering of up to 500 mln eur to refinance part of the financing commitments for the acquisition of Tele Atlas NV and to reduce financial leverage. TomTom said it has already ...
    2007-12-03 09:57:00

  • Correction: Fitch Ratings Affirms Morgan Stanley Series 1999-FNV1

    Forbes - In addition, there is refinance risk with 29.4% of non-defeased loans maturing in 2008. As of the November 2007 distribution date, the pool's aggregate collateral balance has been reduced 24.3%, to $478.7 million from $632.1 million at issuance ...
    2007-12-03 10:04:00

  • Most U.S. Stocks Drop on Economy Concern; Merrill, MetLife Fall

    Bloomberg - The Treasury chief today proposed letting state and local governments ``temporarily'' exempt taxes on bonds issued to help refinance subprime borrowers. To contact the reporter on this story: Michael Patterson in New York at ...
    2007-12-03 11:16:00

  • Avoiding mortgage-reset headaches

    CNN Money - In order to refinance you'll need 10 to 20 percent equity in your home. If you're thinking about trying to refinance, it's more important now than ever to clean up your credit. If you've missed payments or run up huge credit card bills, it may not be ...
    2007-12-03 12:20:00

  • Mass. subprime business shrinks amid spike in foreclosures

    Boston Globe - BOSTON— Many Massachusetts homeowners with subprime mortgages are finding they need to find new lenders to refinance as they seek to avoid foreclosure. Eight of the ten largest subprime mortgage specialists in Massachusetts are no longer lending in ...
    2007-12-03 12:20:00

  • Paulson: Subprime help on the way

    CNN Money - He added that many state and local governments, especially in the nation's hardest hit areas, are also trying out solutions, such as funds for financially-able borrowers to refinance out of expensive subprime loans. "Given the local nature of housing ...
    2007-12-03 12:20:00

  • Brazil Real Little Changed on Concern for U.S. Growth Outlook

    Bloomberg - He proposed letting state and local governments ``temporarily'' exempt taxes on bonds issued to help refinance subprime borrowers. The yield on Brazil's benchmark zero-coupon bonds due in January 2008 was unchanged at 11.15 percent ...
    2007-12-03 12:42:00

  • Stocks Start Week in Reverse

    Street.Com - Paulson said that housing is still the biggest threat to the U.S. economy, and that "we will need an aggressive, systematic approach to fast-track able borrowers into a refinance or mortgage modification." Those comments came after Boston Fed ...
    2007-12-03 01:18:00

  • U.S. Stocks Drop on Economy Concern; Merrill, MetLife Decline

    Bloomberg - The Treasury chief today proposed letting state and local governments ``temporarily'' exempt taxes on bonds issued to help refinance subprime borrowers. A gauge of homebuilders in S&P indexes gained 1.5 percent, bringing its two-day ...
    2007-12-03 02:01:00

  • U.S. subprime pain - courtesy of London bankers

    CNN Money - The higher rates in reset subprime mortgages "are a potential problem now, with ability to easily refinance or sell now gone," he said during his speech. Speaking to reporters after the speech, Rosengren said the extent of the subprime crisis "was a ...
    2007-12-03 02:44:00

  • Mortgage Relief Impact May Be Limited

    New York Times - Borrowers would not qualify if their financial condition was strong enough to manage the higher monthly payments or to refinance with a cheaper mortgage. Speaking at a conference on housing here today, Mr. Paulson said his goal was to “develop a ...
    2007-12-03 03:19:00

  • Foreclosure rescue: No help for you

    CNN Money - Borrowers who can afford an adjustment; those who are already behind on their payments; and those who can refinance into a fixed-rate loan According to the Mortgage Bankers Association, 5.12% of outstanding loans were in default in the second quarter ...
    2007-12-03 03:19:00

  • Paulson says mortgage plan to be ready this week

    Reuters - The government has a role to play," Paulson said at a federal housing symposium at which he also called on Congress to offer more generous tax treatment for local government bonds used to refinance mortgages. "We are proposing to allow state and local ...
    2007-12-03 03:48:00

  • Champaign council will consider bond issues (The Champaign News-Gazette)

    CHAMPAIGN – The city council will consider approving $19.9 million in bond sales Tuesday to pay for a new 600-space downtown parking garage, to extend Olympian Drive into the Clearview subdivision and to refinance older bond debt. The council meets at 7 p.m. in regular session at the Champaign City Building, 102 N. Neil St.
    2007-12-03 12:28:16

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