Mortgage and Financial News From 2008-1-18 Page 01

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• State's Housing Market in Trouble

  CBS 3 Springfield - Now it is in reverse, the economy is hovering on recession." The number of foreclosed homes in Hampden County is up 85% from last year. Not only have families lost their houses due to high rate mortgages, but the city of Homes is adding to its ...
  2008-01-15 03:54:00

• U.S. economy teeters on the brink

  Globe and Mail - ... 10 TRILLION (plus-plus-plus) and the average home-owner is up to his neck in debt and probably have 2nd and third mortgages ... I guess he didn't know how to reverse the mess and just allowed it to self-destruct. But I think Bush can start by fixing ...
  2008-01-16 03:53:00

• Liberals would set up $1-billion fund to help manufacturing: Dion

  Globe and Mail - If governments were to lose money at the rates the banks have, financing phoney deals such as sub-prime mortgages without even ... you please explain the difference between what the two honourable (???) gentlemen (??) are proposing. Seems to me the reverse ...
  2008-01-17 03:59:00

• Business Planner

  Newsday - DINNER SEMINAR | LEVITTOWN Learn about identity theft, reverse mortgages and estate planning, 4 p.m., Old Country Buffet, 3023 Hempstead Tpke., free, must reserve, 516-318-4183. "FROGS AND BLOGS FROM THE LILYPOD" | MELVILLE Web-based marketing and ...
  2008-01-18 09:53:00

• The reverse strategy with mortgages

  Arlington Heights Daily Herald - Reverse mortgages used to be a way for homeowners to get extra cash during retirement. Now they're also being used for a more-pressing purpose: helping people who are struggling to meet payments on high-interest-rate loans to keep their homes. The ...
  2008-01-18 10:36:00

• Two new tax breaks help struggling homeowners - Jackson Clarion Ledger

  Two new tax breaks help struggling homeownersJackson Clarion Ledger, MS - 14 hours agoFor the first nine months of 2007, about 16.7 percent of the estimated $1.98 trillion in new mortgages originating during that period had private or ...
  2008-01-18 08:07:20

• California Employment Report: Confidence Index Reaches Record Low ... - SunHerald.com

  California Employment Report: Confidence Index Reaches Record Low ...SunHerald.com, MS - 14 hours ago... has actually increased demand in the mortgage industry for candidates who have experience with specialty mortgage solutions and reverse mortgages."
  2008-01-18 08:12:34

• Springfield, Mass., Takes Aim at Merrill Over Subprime Losses - Wall Street Journal

  Springfield, Mass., Takes Aim at Merrill Over Subprime LossesWall Street Journal - 1 hour agoThe even bigger shock: This fund was stuffed with risky securities backed by subprime mortgages. • The News: The city of Springfield, Mass., ...
  2008-01-18 09:01:03

• U.S. stocks seek glimmer of hope in tech earnings next week (MarketWatch via Yahoo! Finance)

  Investors next week are hoping stocks will see their first weekly gains so far this year, as earnings season gets fully under way with a slew of key reports from the technology sector.
  2008-01-18 09:01:00

• U.S. consumer sentiment up as recession talk prevails

  MSN UK News - A second report on Friday showed leading economic indicators for December continued to weaken, suggesting growth will ... the underlying problems that are eating at the economy -- especially the rising default rates on consumer loans and mortgages ...
  2008-01-18 06:35:00

• Charley Reese: Greed and ignorance fuel economic crisis

  Enterprise-Journal - When housing prices were going up, builders built more houses, and lots of people bought houses thinking, “Oh, in a couple of years I can sell this for a profit.” Others took out second mortgages and spent the money. Now housing prices are, in ...
  2008-01-18 07:44:00

• Wells Fargo loss lower than expected

  Globe and Mail - But in recent years, more people used them as second mortgages to fund home purchases with little or no money down, only to end up overstretched with debt. Wells Fargo has scaled back offering home equity loans through brokers. "We did not fully ...
  2008-01-15 03:54:00

• Ambac's Insurance Unit Cut to AA From AAA by Fitch Ratings

  Bloomberg - Jan. 19 (Bloomberg) -- Ambac Financial Group Inc., the second-largest bond insurer, was stripped of its AAA credit rating ... The industry guaranteed $100 billion of collateralized debt obligations linked to subprime mortgages, $22 billion of non-prime ...
  2008-01-18 09:13:00

• Dolores Huerta: "Como se llama" Obama?

  Salon - Serina Rankins, a single mother from Vallejo who works as a paralegal, told of being caught in the subprime mortgage mess, now paying $2,800 a month on her first and second mortgages, plus another $700 on childcare. "That's $3,500 before food and ...
  2008-01-18 10:03:00

• Bush urges speedy action on economic rescue package as big as $150 ... - Bonitanews (subscription)

  Bush urges speedy action on economic rescue package as big as $150 ...Bonitanews (subscription), FL - 5 hours agoThe people who are struggling every day to pay their bills, heat their homes, and pay their mortgages need our help now, and helping them is the best way to ...
  2008-01-18 04:44:54

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