Mortgage and Financial News From 2008-2-28 Page 3

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  • Business Highlights

    CNBC - The Commerce Department said gross domestic product grew at only a 0.6 percent rate in the fourth ... Freddie Mac on Thursday said its loss widened to $2.5 billion in the fourth quarter of 2007 as mortgage defaults mounted and falling interest ...
    2008-02-28 03:45:00

  • Cheap credit 'gone forever' - City watchdog

    This is Money - There was never such a thing as interest only mortgage ,every borrower was meant to have a repayment plan in place to pay back the capital at the end of the 25 year term ,the problem was the banks never insisted on seeing such plans were actually in ...
    2008-02-27 08:30:00

  • Foreclosure aid bill faces veto

    Detroit News - White House says plan to ease mortgage woes would be lender 'bailout,' do little for ... Democratic housing bill would change bankruptcy laws to allow judges to cut interest ... announced they would tighten the bankruptcy provision so that it would only ...
    2008-02-27 04:12:00

  • Mortgage bill faces delays

    Monterey County Herald - Glicken said the lender suggested the monthly payment would rise only if interest rates in general went up. But while 30-year mortgage rates are no higher today than in 2005, the Glickens' payments have shot to $2,300 a month.
    2008-02-27 12:01:00

  • Dollar hits 3-yr low versus yen, rate view stings

    Guardian Unlimited - ... of small U.S. banks suggested again that the economy is struggling and that interest ... The only way forward for the dollar is down, as recent ranges have been broken ... small U.S. banks due to the financial stress of housing market woes and mortgage ...
    2008-02-28 05:04:00

  • Govt's rental plan to ease mortgage pain

    News.com.au - ... released showing the proportion of family income required to meet average mortgage ... We hope this will not only fix the housing affordability problem but it will ... While there are expectations of further interest rate rises during 2008, this is ...
    2008-02-28 06:15:00

  • Facing Default, Some Walk Out on New Homes

    New York Times - In a declining housing market, he owed more than the house was worth, and his mortgage payments, even on an interest-only loan, had shot up to $2,600, more than he could afford. “I was terrified,” said Mr.
    2008-02-28 08:38:00

  • Bush, Democrats Intensify Clash Over Plans to Aid Homeowners

    Bloomberg - He helped broker a deal with the mortgage industry in December to freeze rates on some subprime loans for five years, and he followed up with a plan released earlier this month to offer 30- day foreclosure freezes to give delinquent borrowers more ...
    2008-02-28 02:05:00

  • A Wild Day for Fannie Mae

    BusinessWeek - Fannie Mae said it sees weakness in the housing market deepening this year, which will lead to more delinquencies, defaults and foreclosures on mortgage loans, as well as slower growth in U.S. residential mortgage debt outstanding.
    2008-02-26 03:55:00

  • Lender ordered to halt foreclosures

    Boston Globe - ... Loan to halt all foreclosures to give state officials time to review each mortgage. ... that alleged Fremont engaged in predatory and unfair lending when it made home ... were unfair, he said, if they met four criteria, including low introductory rates ...
    2008-02-26 09:17:00

  • ECC Capital Corporation Announces Common Stock Cash Distribution of $0 ...

    Yahoo Finance - ECC Capital continues to experience higher levels of delinquencies and losses on mortgage loans held for investment in its securitization trusts and deterioration in the housing market.
    2008-02-28 05:18:00

  • Cuomo Near Deal On Home Appraisals

    Washington Post - Inflating appraisal values can pollute the entire process, making it more difficult for buyers to resell their properties and causing investors to lose money when the mortgage loans based on shoddy appraisals prove riskier than anticipated.
    2008-02-26 08:34:00

  • Obama Criticizes Bush, McCain on Economy

    Guardian Unlimited - ... rolling back Bush tax cuts plus a tax credit covering 10 percent of annual mortgage ... Clinton has proposed a 90-day freeze on home foreclosures arising from subprime lending, and a freeze on subprime lending rates, in a $30 billion plan.
    2008-02-28 02:12:00

  • Bush: economy in slowdown, not headed into recession

    Xinhua News Agency - The U.S. economy has slowed down significantly due to a severe slump in housing and a persisting credit crunch stemming from troubles in the subprime mortgage market, where loans are given to homebuyers with weak credit histories.
    2008-02-28 04:35:00

  • Housing prices take biggest dive since 1991

    USA Today - WHY HOME PRICE INDEXES VARY Among the differences in the home price indexes: ... index is calculated solely using home loans of $417,000 or less that are bought or backed by government-sponsored mortgage ...
    2008-02-25 03:56:00

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