Mortgage and Financial News From 2007-9-29 Page 14
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Australian reverse mortgages: a market poised for growth
Banking Business Review - Reverse mortgages provide a way for senior citizens to tap into the equity of their fully owned homes by taking out a loan secured against their property. No repayments are required until the borrower moves out or dies. Reverse mortgages were ...
2007-09-28 02:50:00 -
A Pro Licence? Surely a Blue Peter (Kenyon) badge counts (Times Online)
Let’s be clear from the start: this column unreservedly supports the concept of a statutory professional qualification for football managers.
2007-09-28 03:38:27 -
Boomers and Retirement (ThirdAge)
Ah, those crazy boomers! There they were, riding the good-life range, when along came reality, and SPLAT.
2007-09-28 03:44:52 -
Fragile markets risk relapse (Financial Times)
Markets and the world economy are in a no-man’s-land 11 days after the US Federal Reserve’s dramatic half-point interest rate cut. The liquidity squeeze in credit markets has eased a little, as Robert Steel, the US Treasury under-secretary, said this week.
2007-09-28 05:57:57 -
EYE ON THE PIE: Give tax relief to those who truly need it (The Times of Northwest Indiana)
No topic brings me more mail than property taxes. Some of this mail is silly, some is tragic.
2007-09-29 02:12:54 -
China's Policy to Be `Moderately Tight' to Cap Growth (Update1)
Bloomberg - The bank has also raised interest rates on some mortgages and increased the minimum deposit on second homes yesterday to curb property speculation and cool prices. U.S. Subprime Impact China needs to ``closely'' monitor the impact ...
2007-09-28 04:30:00 -
Wall Street Poised for Lower Opening
Newsday - Freddie Mac, the nation's second-largest financer of home mortgages, said late Thursday it's paying a $50 million fine to settle civil securities fraud charges brought by federal regulators in a four-year accounting lapse. Oil prices rose back ...
2007-09-28 06:32:00 -
Pound Drops for Fourth Week as Northern Rock Worsens Sentiment
Bloomberg - ... fell against 14 of the 16 most-traded currencies tracked by Bloomberg this quarter on speculation losses on subprime mortgages ... That's its second monthly decline this quarter. The contract settles to the three-month London interbank offered ...
2007-09-29 12:26:00 -
China's benchmark index soars to record close
CNN Money - Heavyweight property shares were also big gainers after the government ended uncertainty by announcing a change in policies for mortgages. The government raised the mortgage lending rate on purchases of second residential properties by 10 percent and ...
2007-09-28 01:56:00 -
AP: Dollar drops to fresh record low against euro on rate cut ...
Stockhouse Canada - ... Department reported Thursday that sales of new homes tumbled 8.3 percent in August to the lowest level in seven years, a stark sign that the credit crisis, triggered by bad U.S. mortgages, is aggravating an already painful housing slump. In a second ...
2007-09-28 11:07:00 -
Communitas now closed to new business
Birmingham Post - Anthony Coombs, S&U's managing director, said Communitas stopped lending new money in June, before the recent "credit crunch", because financial markets were already lowering the value they ascribed to second mortgages. "It was not because the quality ...
2007-09-28 03:04:00 -
Large-cap funds did well in 3Q
Baltimore Sun - While the quarter ended near its highs, weeks of uncertainty over the health of mortgages made to borrowers with poor credit ... That compares with 6.3 percent for the second quarter. Large-cap growth funds, meanwhile, showed an average return of 6.42 ...
2007-09-29 12:11:00 -
Thousands brace for mortgage rate jump
Boston Globe - ... Massachusetts with adjustable-rate home loans, about 10,000 borrowers, are facing larger housing payments when their mortgages ... She rents the second unit for $2,400 and earns $63,000 a year as a computer programmer. But her income will not be enough ...
2007-09-29 01:37:00 -
Dominion Homes defaults on loan; terms modified
Reuters - Securities and Exchange Commission, Dominion said the lenders, including Silver Oak Capital, had agreed to increase the amount they lend the company under a loan secured by mortgages on land it owns. Last month, Dominion reported a second-quarter ...
2007-09-28 12:37:00 -
Defaults on Insured Mortgages Advance 30 Percent (Update1) (Bloomberg.com)
Sept. 28 (Bloomberg) -- Defaults on privately insured U.S. mortgages climbed 30 percent last month from year-earlier levels, an industry trade group reported, adding to evidence that home foreclosures may continue to rise.
2007-09-28 09:33:22