Mortgage and Financial News From 2007-8-24 Page 15

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  • Simple Solutions to Home Buying Challenges

    Bradford Era - You could be a perfect candidate for an interest only mortgage, which typically has a very low monthly payment. An adjustable rate mortgage (ARM) is another option, allowing you to take advantage of low initial rates. Challenge: "I'm self-employed and ...
    2007-08-24 02:32:00

  • Living Green: Interest In Rain Gardens Grows In The Tri-state

    WCPO - On August 27, WCPO is airing a special program at 8 p.m. called "Living Green" that focuses on environmental concerns in Cincinnati. One of the program's sponsors is especially concerned about the Mill Creek, which was once listed as one of the ...
    2007-08-24 03:22:00

  • The Orange County Register

    MSNBC - Six homes received 100 percent financing – a 30-year first loan covering 80 percent of the value and a "piggyback" 15-year mortgage covering the other 20 percent. Seven home loans feature interest-only payments for up to five years, followed by ...
    2007-08-24 01:27:00

  • What credit crunch? Subprime offers roll on

    MSNBC - And Countrywide Financial , the nation's largest mortgage lender, declared, "Bad Credit? Call Today. Refinance or Tap into ... So is it wrong to market no-money-down, interest-only or other alternative mortgages to people with poor credit? "There's ...
    2007-08-24 06:07:00

  • Taipei shares close lower on Wall St weakness, persistent mortgage ...

    Forbes - ... on Wall Street overnight amid persistent worries over the US housing mortgage defaults. Broader global concerns triggered local selling, offsetting initial trading interest ... and its third party content providers for your personal information only ...
    2007-08-24 06:14:00

  • Wachovia defends mortgage-lender purchase

    Winston-Salem Journal - ... is attractive to many buyers, but critics say they pose big risks for borrowers and lenders if the value of homes decline in value at the same time the mortgage balance is rising. So far, though, less than 4 percent of the option and interest-only ...
    2007-08-24 03:22:00

  • Avoiding a Mortgage Meltdown

    BusinessWeek - Show the lender that whatever you plan to pay is the most you can afford, even if it is only the interest on your mortgage. As a last resort, consider tapping your retirement account by taking a hardship distribution from your 401(k) or a premature ...
    2007-08-24 06:07:00

  • MORTGAGE MESS WIDENS (New London Day)

    Charlotte, N.C. — At the North Carolina offices of mortgage lender HomeBanc Corp., Archie Clark is the only employee left. But in a few days, he'll be gone, too.
    2007-08-23 10:12:40

  • Mortgage job losses surpass 40,000 (USA Today)

    At the North Carolina offices of mortgage lender HomeBanc Corp., Archie Clark is the only employee left. But in a few days, he'll be gone, too. When Clark finishes helping movers from the company's Atlanta headquarters collect computers and other property, he'll join the more than 25,000 workers nationwide who have lost jobs in the financial services industry since the beginning of the month with ...
    2007-08-23 06:52:34

  • BB&T to buy commercial mortgage company

    Boston Globe - WINSTON-SALEM, N.C. -- BB&T Corp. agreed to buy Collateral Real Estate Capital LLC to create one of the country's biggest commercial mortgage lenders, the bank said Thursday. The Winston Salem, N.C.-based bank did not disclose the value of the ...
    2007-08-23 02:22:00

  • Borrowers face mortgage debt risk

    This is Money - Figures from the Council of Mortgage Lenders (CML), a trade body for mortgage providers, show that 33,200 out of 101,900 who bought a property in June took an interest-only loan. This is the highest number taking out such mortgages since the CML ...
    2007-08-24 03:51:00

  • Job losses mount at battered lenders

    Seattle Times - Employees hug as they leave American Home Mortgage Investment in Melville, N.Y., which closed most operations early this month and filed for bankruptcy protection. GERRY BROOME / AP Archie Clark packs boxes Wednesday at a closed HomeBanc office in ...
    2007-08-23 07:19:00

  • Banks eye struggling lenders' business

    BusinessWeek - Disciplined lending alone though won't completely insulate mortgage lenders of all stripes from the problems in residential real estate, especially in markets with excesses in housing development and huge and rapid jumps in home prices, said Mark ...
    2007-08-23 07:51:00

  • Silver lining of mortgage crisis: Higher savings rates from lenders

    Austin American-Statesman - You might not be able to get a mortgage from Countrywide Financial Corp., but the troubled lender, the nation's largest seller of home mortgages, will pay you substantially higher rates than many other banks on savings accounts and certificates of ...
    2007-08-24 05:02:00

  • In Britain and U.S., Urgent Steps to Change Mortgage Systems

    New York Times - Foreclosures here are at an eight-year high; lenders have repossessed a record 14,000 properties in 2007, 30 percent more than at the same time last year, according to the Council of Mortgage Lenders. An additional 125,100 households are behind in ...
    2007-08-24 03:43:00

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