Mortgage and Financial News From 2007-11-11 Page 15
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SUSAN TOMPOR: Days of getting easy cash are over (Detroit Free Press)
Flush real estate values for years meant that consumers could put little money down on a house, watch the home's value grow and then treat that added equity just like a bonus. But the credit crunch has landed with a thud, falling particularly hard on Michigan. The days are over where practically anyone could turn the house into an ATM.
2007-11-11 12:38:22 -
Putting a cold hold on your credit
Los Angeles Times - The formulas are outlined in the mortgage documents. ARMs start out with initial or "teaser" rates that can be significantly lower than the current rate. Sometimes, on the riskiest loans, the rate was as low as 1%. When the initial period expires, the ...
2007-11-10 11:46:00 -
Fed's move might help amid foreclosure crisis
Lansing State Journal - Banks, in turn, may lower interest rates and mortgage rates. Michigan already has one of the worst foreclosure rates in the nation, according to RealtyTrac, an online marketplace of foreclosure properties. According to RealtyTrac's quarterly report to ...
2007-11-10 11:03:00 -
How worried should you be about the financial squeeze?
Times Online - Britain’s own sub-prime mortgage borrowers, those with a history of credit arrears, county court judgments or bankruptcy, face a 2.5 percentage point hike in their mortgage rates when they go to their banks to refix their loans. They account for 3 ...
2007-11-10 05:12:00 -
Campaigns discuss mortgage crisis
Houston Chronicle - WASHINGTON — A new issue is emerging in the 2008 presidential race: how best to keep the mortgage crisis from driving ... More than 2 million adjustable-rate mortgages granted to people with weak credit are scheduled to reset to higher rates by ...
2007-11-10 10:49:00 -
DeWitt Schools refinances bonds, saves money
Lansing State Journal - In the same way many of our home-owners are taking advantage of low mortgage rates, the low interest rates available in the current municipal bond market presented the opportunity for us to achieve similar savings. Needless to say, we were pleased ...
2007-11-10 11:03:00 -
Law & Order
Modesto Bee - Woman was burned to death for $750 in drugs, sheriff says (16) 3 accused of mortgage fraud (16) Community Briefing (13) Diary keeper's pen is at rest (13) Arrests in case of victim burned alive (9) Remains confirmed as missing woman (8) Winery of the ...
2007-11-09 03:52:00 -
San Joaquin man killed in Army helicopter crash in Italy
Modesto Bee - Woman was burned to death for $750 in drugs, sheriff says (16) 3 accused of mortgage fraud (16) Community Briefing (13) Diary keeper's pen is at rest (13) Remains confirmed as missing woman (9) Our Views: Kamilos deserves support in pursuit of state ...
2007-11-09 10:40:00 -
Oakdale's back in familiar territory
Modesto Bee - Woman was burned to death for $750 in drugs, sheriff says (16) 3 accused of mortgage fraud (16) Community Briefing (13) Diary keeper's pen is at rest (13) Remains confirmed as missing woman (9) Our Views: Kamilos deserves support in pursuit of state ...
2007-11-09 10:40:00 -
Record Price Drop Forecast in Real Estate
WebWire - The deflation being experienced in most of the nation’s housing markets is a result of low mortgage interest rates, overly creative financing provided by mortgage companies, and massive mortgage fraud on the part of both mortgage brokers and some ...
2007-11-10 07:33:00 -
Owner of bankrupt Pa. mortgage firms to plead guilty in fraud case
CNBC - HARRISBURG, Pa. - The owner of a bankrupt Pennsylvania mortgage business has agreed to plead guilty to mail fraud in a case that has thrown hundreds of homeowners' finances into turmoil, federal prosecutors said Friday. Wesley A. Snyder, 71, signed a ...
2007-11-09 01:53:00