Mortgage and Financial News From 2007-9-12
Previous Day: 2007-09-11
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Foreclosures put stranglehold on mortgage market (Plano Courier)
Increasing home foreclosures have tightened the mortgage market making it hard for first time homebuyers to take their first plunge into the Collin County housing market.
2007-09-11 11:32:38 -
Shopping Centers Begin to Feel Ripples of Housing?s Ills (New York Times)
As problems in the subprime mortgage industry sends ripples through the economy, shopping centers are being caught in the credit squeeze.
2007-09-11 05:18:40 -
CREDIT WRAPUP 2-BoE: cbanks would avert major shock, no bailout (Reuters via Yahoo! Asia News)
LONDON, Sept 12 (Reuters) - Central banks are ready to prevent a major financial shock if necessary, Bank of England chief Mervyn King said on Wednesday, as U.S. Treasury Secretary Henry Paulson predicted no quick end to the credit crisis.
2007-09-12 03:28:45 -
Burdening Your Retirement With A Mortgage (Forbes)
Think twice before you rid yourself of a mortgage at retirement age. Use the leverage to your benefit.
2007-09-12 03:13:13 -
Easy Money From Buy-To-Let?
Sky.com - Hang on a minute....isn't that the reverse of what they're saying now? Rental yields may well have strengthened over the ... If, however, you're more optimistic than me, take a look at buy-to-let mortgages through The Fool's award-winning service. More ...
2007-09-10 05:59:00 -
Size of New Homes Starts Shrinking As Builders Battle Housing Slump
Wall Street Journal - If it continues, the strategy could reverse a decades-long trend toward bigger and more lavish residences. After builders ... As mortgage lenders adopt stricter lending standards, they have reduced the number of mortgages they are willing to make that ...
2007-09-11 05:36:00 -
FTC Warns 200 Against 'Potentially Deceptive' Mortgage Ads
MediaPost - This dropped to 52% for home-equity loans, 27% for no down-payment and 25% for "reverse" mortgages--the bogeyman of the sub-prime lending market. Older consumers were generally more knowledgeable about the variety of mortgage products than younger ...
2007-09-12 01:50:00 -
Reliant Announces Acquisition / Reverse Split / Dividend
Forbes - 1. A 1:5 reverse split of the authorized, issued and outstanding shares of the Reliant's common stock with an effective date of October 3, 2007. 2. Acquisition of Snowbird Vacation Mortgages (Canada) Corporation, an Ontario corporation. Reliant will ...
2007-09-11 12:14:00 -
Reliant Announces Acquisition / Reverse Split / Dividend (Business Wire via Yahoo! Finance)
TORONTO----Reliant Financial Service Corporation , Steve Hamilton, Senior Vice President of Reliant Financial Service Corporation, today released a letter recently sent to its shareholders.
2007-09-11 12:10:00 -
Finance cos await reverse mortgage norms (NDTV Profit)
Reverse mortgages, where you can earn rent on a mortgaged home has not found any takers yet. That is because banks, housing finance companies and customers are still waiting for the fine print.
2007-09-11 11:00:05 -
Australia Dollar Rises on Increased Confidence in Global Growth
Bloomberg - The currency gained for a second day after U.S. stocks rallied the most this month on evidence consumers are weathering an economic slowdown stemming from losses in subprime mortgages. Australia's dollar was also boosted as metals prices gained on ...
2007-09-11 03:42:00 -
Alberta is the second most expensive province for housing, says RBC ...
CNW Group - Alberta is the second most expensive province for housing, says RBC Economics TORONTO, Sept. 12 /CNW/ - Alberta's housing ... Holt noted that the arrival of extended amortization mortgages has changed the dynamics of the housing market. The new found ...
2007-09-12 01:57:00 -
Ariz. posts increase in delinquent mortgages
AZCentral.com - More Arizona homeowners fell behind on their mortgage payments this summer, indicating foreclosures will keep climbing. The number of delinquent mortgages rose half a percentage point during the second quarter of the year. Now, 3.55 percent of all ...
2007-09-10 06:39:00 -
Pinal still fast-growing even as slowdown hits
Arizona Daily Star - Booming home values have increased wealth for many families, allowing them to use the equity in their homes to take out second and third mortgages to finance home improvements, pay for college or buy automobiles and other amenities.
2007-09-11 11:56:00 -
Trade Deficit Shows Slight Decline
US News and World Report - But even a spate of recalls did not stop the deficit with China from climbing to the second-highest level on record. The ... of the worst downturn in housing in 16 years and a serious credit crunch stemming from growing losses in subprime mortgages ...
2007-09-12 01:36:00