Mortgage and Financial News From 2008-6-6 Page 12
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Homes in foreclosure top 1 million - CNN Money
NEW YORK (CNNMoney.com) -- More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb. The Mortgage Bankers Association's first quarter ...
2008-06-05 02:20:00 -
Krugman's Union Problem - Slate
Emailer Z, who knows business and politics--and isn't a liberal (or even a Democrat)--writes to usefully amplify David Corn's Mother Jones piece , which blamed Sen. Phil Gramm for engineering an ill-fated non-regulation of financial services that ...
2008-06-05 01:44:00 -
Reverse mortgage scrutiny - Sydney Morning Herald
THE Federal Government is moving to introduce stricter regulation of reverse mortgages, an increasingly popular financial product marketed to older homeowners, because of fears that people could be exploited. Announcing plans for national regulation ...
2008-06-03 11:59:00 -
Housing Pain Hits Prime Borrowers - Wall Street Journal
Mortgage delinquencies and foreclosures continued to surpass record levels in the first quarter, as the prolonged decline in home prices and shifting economic conditions trapped a growing number of prime borrowers. Delinquencies and foreclosures ...
2008-06-05 09:01:00 -
Despite Interest Rate Cuts, Foreclosures Hit Record High - Washington Post
Even though lower interest rates have made many adjustable-rate mortgages more affordable, foreclosures continue to reach new heights as more than 1 million homeowners face losing their home, according to industry figures released yesterday. That's ...
2008-06-05 07:21:00 -
The trick to getting a mortgage fixed - CNN Money
NEW YORK (CNNMoney.com) -- More than 3,000 times daily, struggling homeowners call the foreclosure Help Hotline for advice on how to save their homes. And so begins the complicated and time-consuming foreclosure prevention process. Working together ...
2008-06-05 08:01:00 -
Pair sues lender over availability of funds - AZCentral.com
A plastic surgeon and his wife are suing Mortgages Ltd., claiming the real-estate lender failed to protect investments they made with the company and has not returned their money despite agreeing to do so. In their lawsuit, Dr. Theodore Dodenhoff and ...
2008-06-05 09:22:00 -
Deals of the day -- mergers and acquisitions - Reuters
June 6 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0500 GMT on Friday. (For Reuters columns on deals, click on [DEALTALK\] ** Franshion Properties (China) Ltd (0817 ...
2008-06-05 10:27:00 -
Profile of a (Maybe) Recession (Flathead Beacon)
Optimism has grown this month that the United States may escape a recession. But don't haul out the ticker tape just yet. The current economic slowdown is unusual – and difficult to read – because the housing market is playing such a central role.
2008-06-05 04:05:43 -
Australian construction activity slumps in May (Reuters Finance News, Australia via Yahoo!7 Finance)
SYDNEY, June 6 (Reuters) - Australia's construction sector contracted sharply for a third straight month in May, as high interest rates and slumping customer confidence drove activity to its lowest in over two years, a survey showed on Friday. The Australian Industry Group/Housing Industry Association performance of construction index (PCI) sank 5.7 points to 36.9 in May. That was far below the ...
2008-06-05 04:30:50 -
Housing slump for 3 years - Bollard (The New Zealand Herald)
Homeowners face at least a three-year wait before properties begin to return to current values, says the Reserve Bank. In a gloomy report on the economy, the bank predicted house prices would fall 13 per cent over the next three years.
2008-06-05 05:31:27 -
Dip seen in late home payments for borrowers not in foreclosure (The Arizona Republic)
But Arizonans already struggling to pay off their loans fell further behind on mortgage payments.
2008-06-05 09:56:07 -
Trichet Leads Shift From Growth to Beating Inflation (Update1) (Bloomberg.com)
June 6 (Bloomberg) -- European Central Bank President Jean- Claude Trichet is leading the way as the world's most powerful monetary-policy makers turn their attention from protecting economic growth to fighting inflation.
2008-06-05 11:02:27 -
Lenders, mortgage insurers pull back (The Nashua Telegraph)
In recent weeks, mortgages quietly became harder to get. ...
2008-06-05 09:18:55 -
Home Foreclosures Set Record in Q1 (The Memphis Daily News)
WASHINGTON (AP) – Home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs....
2008-06-05 10:04:00