Refinance Home Loans
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The Crisis and Your Pocketbook - Washington Post
Q. What has become of the private mortgage insurance that borrowers paid monthly to insure mortgage lenders? A. A common misconception about private mortgage insurance is that it is designed to help homeowners, but it’s not — it is meant to protect

Rescue package aside, economy faces deep challenges - Miami Herald
WASHINGTON — The congressional compromise drafted over the weekend to rescue Wall Street, assuming it wins approval, is expected to fend off a potential meltdown of financial markets for now. But it won’t cure much of what ails the struggling U.S

Lenders to FHA: Thanks but no thanks for your help - CNN Money
NEW YORK (CNNMoney.com) — As part of the massive housing rescue bill passed by Congress in July, troubled borrowers will be able to refinance their home loans with the backing of the Federal Housing Authority (FHA) starting on October 1. But at a

List of government bailouts over the past century - CNBC
1932 The Hoover administration creates the Reconstruction Finance Corp. to facilitate economic activity by lending money. 1933 The Roosevelt administration creates the Home Owners’ Loan Corp. to buy $3 billion in bad mortgages from banks and

Obama: “No Welfare For Wall Street” - CBS News
(CBS) Democratic presidential candidate Barack Obama said that the looming credit crisis was an urgent situation for which action needs to be taken, but he wants to ensure that the $700 billion bailout package being crafted by the Bush administration

On Call - Lowell Sun
Most all of the people we worked with are hard-working people who really just want to do the right things for their family. They’re mostly employed. They’re not trying to rip anybody off — they’re trying to pay their bills. They want to deal with it

Rescue package aside, economy faces deep challenges - Miami Herald
WASHINGTON — The congressional compromise drafted over the weekend to rescue Wall Street, assuming it wins approval, is expected to fend off a potential meltdown of financial markets for now. But it won’t cure much of what ails the struggling U.S

The Crisis and Your Pocketbook - Washington Post
Q. What has become of the private mortgage insurance that borrowers paid monthly to insure mortgage lenders? A. A common misconception about private mortgage insurance is that it is designed to help homeowners, but it’s not — it is meant to protect

Tightening of credit strikes nerve among consumers - Minneapolis Star Tribune
From the article Inability to pay for $9000 roof repair with a credit card rather than a more conventional home equity loan: read more bad. Refinancing several longer-term loans into a single shorter-term loan with higher monthly payment but

Lawmakers Renew Talks on Rescue Plan Amid Signals of Compromise - Bloomberg
Sept. 27 (Bloomberg) — House Republican lawmakers today are set to resume participation in talks on a $700 billion rescue plan for the U.S. financial system, giving new momentum to forge an agreement. House Minority Leader John Boehner said that

Your home value has dropped - now what? - Columbian
Clark County residents have been hearing about declining home values and climbing foreclosures for more than a year. In August, median Clark County homes sold for $240,000, down $42,400 from a year earlier, according to Vancouver-based Riley & Marks

Washington Mutual Lists $8 Billion Debt in Bankruptcy (Update1) - Bloomberg
Sept. 27 (Bloomberg) — Washington Mutual Inc. , a holding company for the savings and loan that became the biggest U.S. bank to fail, listed more than $8 billion in debt in its bankruptcy filing in Wilmington, Delaware. WaMu, the 119-year-old

Obama: “No Welfare For Wall Street” - CBS News
(CBS) Democratic presidential candidate Barack Obama said that the looming credit crisis was an urgent situation for which action needs to be taken, but he wants to ensure that the $700 billion bailout package being crafted by the Bush administration

The great $700 billion economic hold-up - Times Online
In the early hours of yesterday morning, as he was flying back from America, Gordon Brown walked to the rear of his Boeing 777 to address reporters in the cheap seats. The global financial system was teetering on the brink, lawmakers in Washington

Rescue plan emerging - CNN Money
NEW YORK (CNNMoney.com) — Congress worked Sunday to finalize a $700 billion bailout of the financial system after lawmakers and Bush administration officials announced shortly after midnight that they had reached a tentative deal. The deadline

Bahrain’s Unicorn eyes overseas acquisitions - International Herald Tribune
Bahrain-based Unicorn Investment Bank said on Sunday it was looking to spend up to $2 billion (1.09 billion pounds) to buy banks in Europe, Southeast Asia and the Gulf and plans to arrange $1.5 billion of Islamic bonds by year end. Fred Stonehouse

Bank rates - Detroit Free Press
Major Michigan financial institutions were surveyed last week to determine the interest rates they charge for loans, and APYs they pay for savings deposits. Rates were quoted as of Friday. APYs on deposit accounts are based on the minimum amount to

Washington turns hard-work ethic on its head - Detroit News
With what looks like the possible passage of the Mother of All Bailouts (following on the heels of a year’s worth of government-funded rescues of private homeowners, lenders, insurers and automakers), Washington has turned Aesop’s famous fable about

US financial rescue bailout breakthrough - News.com.au
US lawyers said they had reached a “breakthrough” in negotiations early on Sunday and were poised to announce a formal deal on an unprecedented $US700-billion ($830.47 billion) Wall Street bailout to avert the country’s worst financial crisis since

Wachovia Slumps After WaMu’s Seizure, Bailout Impasse (Update4) - Bloomberg
Sept. 26 (Bloomberg) — Wachovia Corp. and National City Corp. slumped after negotiations on the government’s financial bailout stalled and Washington Mutual Inc. was seized by regulators and sold to JPMorgan Chase & Co. Wachovia dropped $3.84, or 28

Equity release? Only as a last resort, says Which? - Guardian Unlimited
Pensioners struggling to make ends meet should only release value from their home as “a last resort”, according to the consumer group Which? As living costs rise, equity release schemes - which typically let you borrow money against the value of your

A harder time finding home loans - Buffalo News
Grace Smokowski and her fiance, Brian McKenzie, had to show much more documentation to their lender to secure a mortgage for their future home in Lackawanna. It s going to be more difficult and expensive to get a mortgage, as consumers in Western

MGIC Aims to Shore Up Financial Strength - Wall Street Journal
2 of 10 In its latest move to protect its financial strength, MGIC Investment Corp. said its primary mortgage-insurance subsidiary will no longer take new business under a type of contract that transfers risk to it from other insurance companies

Foreclosure: ‘They were preyed upon’ - Minneapolis Star Tribune
L ike a pair of teenage sweethearts, David Parkes and Kathy Sakry live in the moment. As social workers and county caseworkers assigned to help the vulnerable adults gather to talk about the foreclosure of the couple’s Hopkins townhouse, Parkes steps

Mortgage Refinancing Jumps as Rates Slip - CNBC
The lowest 30-year mortgage rates since late May boosted demand for mortgage applications last week, particularly by homeowners looking to refinance existing loans, according to data published by an industry group on Wednesday. 30-Yr Mortgage Rates

Lower rates don’t guarantee homeowners can refinance - Seattle Post Intelligencer
A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? Back when house prices were zooming upward, it was easy to refinance a mortgage. Lending

Agilent Technologies Announces $1.5 Billion Refinancing - Businesswire.com
SANTA CLARA, Calif.–( BUSINESS WIRE )–Agilent Technologies Inc. (NYSE:A) today announced an agreement with Lloyds TSB Bank plc to refinance the current $1.5 billion repurchase obligation of Agilent Technologies World Trade Inc. Lloyds TSB has

Help should be for Main Street, not Wall Street - Chicago Tribune
I f the bottom line of our financial crisis is that there is an unknown number of non-performing mortgages out there, why doesn’t the government sponsor a massive refinancing effort that allows homeowners to refinance their homes, at terms they can

Yen Rises Most Against Dollar Since May on Stalled Bailout Plan - Bloomberg
Sept. 27 (Bloomberg) — The yen had its biggest advance against the dollar since May as the U.S. government’s $700 billion plan to buy troubled assets from financial institutions was stymied in Congress. Japan’s currency also rose against the euro

Sir Critic on Cinema - Dayton Daily News
The first half is a suspenseful, crackling techno-thriller, but .. The housing crisis tsunami is building in Ohio. Sagging housing values and rising percentages of families who have too much of their income tied up in their homes combined with

US mortgage mortgage applications fell in latest week - Guardian Unlimited
NEW YORK, Sept 24 (Reuters) - Applications for U.S. home mortgages retreated to sluggish levels last week as rising interest rates spoiled a spurt in loan refinancing, according to data published from an industry group on Wednesday. The Mortgage

30-year mortgages jump after 5 weeks of declines - Associated Press
WASHINGTON (AP) — Rates on 30-year mortgages, which had been falling for five weeks, jumped sharply this week, reflecting the turbulence in global credit markets. Freddie Mac reported Thursday that its nationwide survey found that the average for 30

Topps agrees refinancing deal - Financial Times
Topps Tiles on Wednesday reported a worsening trend in like-for-like sales as it reported a drop of 13.1 per cent over the past two months. But the tile retailer said it had successfully renegotiated its current loan facility and a relaxation of both

Countrywide Made Home Loans to Gorelick, Mudd - Wall Street Journal
Countrywide Financial Corp., the biggest U.S. mortgage lender, made large, previously undisclosed home loans to two additional executives of Fannie Mae , the government-chartered firm at the center of the U.S. credit crisis. One of Countrywide’s

FDIC May Need $150 Billion Bailout as Local Bank Failures Mount - Bloomberg
Sept. 25 (Bloomberg) — Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won’t budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of

Existing home sales sink again - CNN Money
NEW YORK (CNNMoney.com) — Sales of existing homes fell in August, according to the latest reading on the battered housing market released Wednesday by an industry trade group. The National Association of Realtors reported that sales by homeowners

Newt Gingrich Blasts Proposed $700 Billion Bailout Plan - FOX News
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES : Easy credit, combined with the faulty assumption that home values would continue to rise, led to excesses and bad decisions. Many mortgage lenders approved loans for borrowers without carefully

WTOP Answer Desk: Your questions on the economy - WTOP Radio
The nation’s financial crisis prompted the government to intervene with a relief package — a $700 billion package to buy up bad mortgage loans. The crisis sent ripples through the markets and raised lots of questions. WTOP has been touching base

UPDATE 2-U.S. court sides with bank in mortgage loan case - Reuters
NEW YORK, Sept 24 (Reuters) - A lawsuit brought by a Wisconsin couple who accused a bank of deceptive lending practices and wanted to cancel their home loan has been stripped of class-action status in a victory for U.S. banks. In a 2-to-1 decision, a

Bailout: No cure for recession - CNN Money
NEW YORK (CNNMoney.com) — Even if the Bush administration’s $700 billion bailout works, the United States still faces the longest and most severe economic stretch since the Great Depression, according to one economist. “The recession train has

Mortgage Video Gallery - CNBC
Health Check of US Financia If mortgage lending in the U.S. dries up, it could have a profound effect on the real economy, observes Hans Goetti, Asi Time To Refinance? Assessing whether it is time to refinance as mortgage rates hit their lowest

U.S. MBA s Mortgage Applications Index Dropped 11% Last Week - Daily Business Review
ortgage applications in the U.S. fell last week as higher borrowing costs and tougher lending rules hurt purchases and refinancing. The Mortgage Bankers Association s index of applications to purchase a home or refinance a loan dropped 11 percent