Mortgage and Financial News From 2008-1-26 Page 2

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  • Number of homeowners who can’t afford payments escalates - East Valley Tribune

    Number of homeowners who can’t afford payments escalatesEast Valley Tribune, AZ - 3 minutes agoForeclosures spiked dramatically across the Valley last year as sliding home prices plagued neighborhoods and homeowners fell behind on rising mortgage ...
    2008-01-26 11:38:14

  • Consumers at heart of stimulus plan (El Paso Times)

    ST. LOUIS—The success of the federal $150 billion emergency economic stimulus plan will hinge on whether American consumers do what they do best—spend, spend, spend.
    2008-01-26 11:11:18

  • Local business leaders ponder effects of a shifting economy (The Farmington Daily Times)

    FARMINGTON — A recession is defined as two consecutive quarters of negative financial growth. Within the confines of that definition, national media outlets are featuring talking heads who say the country is plummeting headlong down the "R" road.
    2008-01-26 11:12:09

  • LOSING OUR HOMES (Akron Beacon Journal)

    Charmaine Finegan took one last look around her house. Well, the bank's house. The furniture was gone. So was the refrigerator and nearly every other possession she owned. Hauled off the day before in a moving truck.
    2008-01-26 11:14:32

  • The struggle to hang onto 'American Dream' in mortgage crisis (TurkishPress.com)

    The desperation of scores of Americans evicted from their homes and denied standard credit lines has given birth to a new market: developers who make a hefty profit reselling foreclosed homes to the poor.
    2008-01-26 11:21:55

  • Existing single-family home sales drop (El Paso Times)

    WASHINGTON—Sales of existing single-family homes plunged in 2007 by the largest amount in 25 years, closing out an awful year that saw median prices fall for the first time in at least four decades.
    2008-01-26 11:39:29

  • How the feds stopped the states from averting the lending mess.

    Slate - Instead, for reasons that now appear hopelessly shortsighted, an obscure federal agency torpedoed legislation from a handful of states that would have made institutional investors far charier of buying mortgage loans that were likely to go belly-up ...
    2008-01-23 03:59:00

  • St. Mary's celebrates 100 years

    Union Leader - The credit union sells some mortgage loans to Fannie Mae, but they are long-term, fixed-rate loans, not the typical subprime loans with low teaser rates followed several years later by often foreclosure-inducing resets at much higher rates. The modern ...
    2008-01-26 08:49:00

  • A crisis rumbles along Route 2

    Boston Globe - In 2006, for example, the Fitchburg-Leominster region had the seventh-highest number of subprime mortgages in the nation, 187, that went delinquent just three months after the borrowers closed on their loans, a Mortgage Bankers Association study ...
    2008-01-26 10:08:00

  • After two years at helm, Bernanke mettle tested by US crisis

    Times of India - Bernanke's great, but he appears to have been a little bit slow at recognizing the breadth of the difficulties of troubles in the subprime mortgage market." The crisis in the subprime sector, where loans are given to people with poor credit ...
    2008-01-26 10:15:00

  • The black box economy

    Boston Globe - Some of these new-generation investments have been in the news, such as the securities implicated in the mortgage crisis that is still shaking the housing market. Others, involving auto loans, credit card debt, and corporate debt, are lurking in the ...
    2008-01-26 10:08:00

  • Mortgage analysis firm to cooperate in NY probe

    MSN MoneyCentral - WASHINGTON (Reuters) - Mortgage loan analysis company Clayton Holdings Inc , in an agreement with New York's attorney general, said on Saturday it would detail how Wall Street firms disregarded its warnings about the quality of home loans later sold ...
    2008-01-25 03:57:00

  • Mortgaged first, then bankrupt

    Union Leader - Gaudreau contends it's in the mortgage companies' best interest to resolve some of the problems caused by subprime mortgage loans. "Otherwise they're going to be the biggest real estate holders in the country -- just like they were in the late '80s ...
    2008-01-26 08:49:00

  • Report: Mortgage analysis company providing information in N.Y ...

    Minneapolis Star Tribune - Investment banks hired companies like Clayton to evaluate samples of loans to determine whether they complied with the law and met the lending standards that mortgage companies said they were using. Loans that did not were classified as exceptions. ...
    2008-01-26 10:15:00

  • Americans turn to support groups to keep homes - Turkish Press

    Americans turn to support groups to keep homesTurkish Press, MI - 1 hour agoBanks sometimes will offer to transform a delinquent adjustable rate mortgage into a fixed-rate loan and lower some interest rates to accommodate the ...
    2008-01-26 09:25:37

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