Mortgage and Financial News From 2008-5-10 Page 01
Previous Day: 2008-05-09
Return to the mortgage news archive home.
-
Help pledged over repossessions - BBC Business
Help for homeowners having trouble paying their mortgage is being announced, ahead of figures expected to show a rise in repossession claims. More free legal advice for those at risk of repossession and specialist training for debt advice agencies is ...
2008-05-08 11:22:00 -
I-Team: Victim of Alleged Mortgage Fraud Speaks Out - KLAS-TV
38-year-old Cindy Birkland was taken into custody by investigators from the AG's Mortgage Fraud Task Force. "I just feel like everything is being taken away from me," said Faye Smith. Prosecutor John Kelleher 46-year-old Bryan Sears was charged with ...
2008-05-08 05:59:00 -
2 sentenced in mortgage fraud scheme - KSTP
Two people were sentenced Friday in federal court for their involvement in a fraudulent mortgage brokering business. The business, known as First Rate Mortgage Group, resulted in a loss to area banks of more than $2.3 million. Sean Leaf, 35, of ...
2008-05-09 05:58:00 -
In mortgage market, ‘walkaway’ homeowners may be urban myth - Los Angeles Times
"Who do you see walking? They're people whose rate is about to reset and they see no way out," Marks said. "People who have a fixed-rate mortgage that was initially affordable and continues to be affordable don't walk away from their home, even when ...
2008-05-10 11:59:00 -
AIG Battered by Derivative Writedowns - Street.Com
American International Group AIG reported after Thursday's closing bell that it lost $7.81 billion in its first quarter due to heavy writedowns on credit-default swaps and mortgage-related investments. The insurance giant became the latest in a long ...
2008-05-08 03:08:00 -
New Mortgage-Insurance Details Due - Wall Street Journal
WASHINGTON—The White House is expected to release new details of its expanded mortgage insurance program Thursday, including a sliding scale of insurance premiums determined by the risk profile of each borrower. This would mark the first time the ...
2008-05-08 04:41:00 -
Lender hikes mortgage rates - Channel 4 News
Alliance & Leicester has become the latest lender to charge higher rates to mortgage customers with smaller deposits. The group is following in the footsteps of major lenders such as Halifax and Nationwide by introducing different rate tiers for ...
2008-05-08 10:39:00 -
No account, no mortgage, says Halifax - Times Online
Halifax, Britain’s biggest mortgage lender, will from tomorrow force borrowers with small deposits who do not use a broker to open a current account before they can get a mortgage. The move, seen as an attempt to boost the bank’s cash deposits ...
2008-05-10 03:34:00 -
Tenants at risk as landlords lose homes - Guardian Unlimited
Hundreds of tenants are at risk of being forcefully evicted without notice as growing numbers of landlords hit by the credit crisis are having their properties repossessed. The number of people threatened with repossession because they can't keep up ...
2008-05-10 03:20:00 -
Brokers, bankers unite to question worth of deal on appraisals - Chicago Tribune
WASHINGTON—A major legal brawl is brewing over how homes are appraised, at what cost, and by whom. The outcome could affect the price you pay for your next piece of real estate, and the amount of mortgage money you can obtain. The fight centers on ...
2008-05-10 05:54:00 -
'I welcome the crunch: it's shut off the easy loans that destroy lives ... - Guardian Unlimited
Suman Antcliffe who is an Advice Services Manager at the East Staffordshire Citizens Advice Bureau in Burton on Trent. Photograph: Fabio De Paola 'I think the credit crunch is great,' says Suman Antcliffe, advice services manager for Citizens Advice ...
2008-05-10 04:31:00 -
Tips: Dealing with payday loans - Chicago Tribune
Paying one loan off with another only builds your debt. Illinois law bars borrowers from more than two payday loans at a time. If you have problems making payments Illinois law allows you a 56-day repayment period with no added charges. You might ...
2008-05-10 12:35:00 -
Paulson, Trichet Signal Welcome at Dollar's Recovery Since G-7 - Bloomberg
May 10 (Bloomberg) -- U.S. and European officials signaled satisfaction that the dollar is stabilizing after Group of Seven policy makers expressed concern a month ago about its decline. The dollar has advanced 3.4 percent from its record low of $1 ...
2008-05-10 05:57:00 -
Temporary lower capital gains rate is complex - San Francisco Gate
Back in 2003, Congress lowered the capital gains rate for people in the two lowest federal tax brackets to zero - but only for 2008 through 2010. Ever since this law passed, I've been peppered with questions from people in the lower brackets who had ...
2008-05-10 04:53:00 -
Rate cut put on ice - The Independent
UK interest rates have been left unchanged by the Bank of England at 5 per cent. The decision had been widely predicted but a rate cut next month is still considered a better than even chance as the Bank moves to bolster the economy. A plethora of ...
2008-05-10 04:38:00