Mortgage and Financial News From 2007-9-23 Page 01

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  • Home sales slower; but better than other areas

    Temple Daily Telegram - Entry-level home buyers are often subprime mortgage candidates. “These (subprime) loans should not have been made in the first place,” Ramsey said. Pepper Creek Realtor Katrina Berndt estimated local resale activity dropped by about 7 percent this ...
    2007-09-23 09:18:00

  • Homeowners getting out of home they can't afford could face tax hit

    Charleston Post & Courier - The last thing somebody who couldn't pay the mortgage would expect is a tax document in the mail that proclaims they magically got an extra $20,000 in income they never touched. But that's exactly the tortured tax picture that faces many troubled ...
    2007-09-23 08:50:00

  • Fed's Rate Reduction May Give Little Relief to U.S. Homeowners

    Bloomberg - Rising defaults in subprime mortgages, made to borrowers with bad or incomplete credit histories, killed demand for mortgage-backed securities, stopping the flow of money to lenders and making it more difficult for home buyers to secure loans ...
    2007-09-23 10:08:00

  • Cash-strapped seniors take out reverse mortgages

    News.com.au - A reverse mortgage allows people aged over 60 to borrow money against their home, with repayments not usually required until the home is sold. The Trowbridge Deloitte study for industry body SEQUAL (Senior Australians Equity Release Association of ...
    2007-09-23 08:50:00

  • Ed Balls claims £27,000 subsidy for 2nd home

    Daily Telegraph - This means that, as it is considered their second home, it qualified for up to £44,000 a year to subsidise a reported £438,000 mortgage under the Commons Additional Costs Allowance. The Commons Green Book governing MPs' allowances states: "The ...
    2007-09-23 08:35:00

  • Mortgage firm failure could hit hard here (Lancaster Online)

    The collapse of an area mortgage broker will have serious repercussions locally, an attorney representing the company said in an interview last week."This is going to be a major disaster," Dexter K. Case, the attorney for Personal Financial Management, said.The company'...
    2007-09-23 09:49:10

  • What Is Your Home Worth? (The Philadelphia Inquirer)

    Portents of economic doom darken the national real estate picture daily. Between subpar housing-start numbers, the subprime-mortgage debacle, and crashing prices in California, Nevada and Florida, it's hard to find good news anywhere.
    2007-09-23 10:25:09

  • Crude prices stay above 80 dollars on storm fears

    Forbes - Weather will be a key factor in the near term,' he said, referring to the current Atlantic hurricane season, which ... The dollar fell to a new low of 1.4120 against the euro last week after the Federal Reserve cut key interest rates by a bigger ...
    2007-09-23 09:18:00

  • Thomson Financial Europe AM at a glance share guide: stocks rise; oil ...

    CNBC - ... for Wall Street, as investors drew confidence from strong results at Oracle Corp and a continued sense that lower interest rates ... Japanese markets closed Hong Kong Q2 current account data EUROPE SUMMARY: Stocks close firmer; oil rises Index ...
    2007-09-23 10:16:00

  • Trichet brushes off French criticism of ECB

    CNBC - Federal Reserve's recent decision to cut interest rates. Trichet would not be drawn on what he thought of the current level of the euro . It briefly rose above $1.41 on Friday, the highest level since the common currency was launched in 1999 ...
    2007-09-23 01:33:00

  • Mortgage regulations put forward in Harrisburg

    Pocono Record - There's also a proposal to amend an existing foreclosure prevention program's interest rate from 9 percent to current lower market rates. The Homeowners' Emergency Mortgage Assistance Program, which will lend up to $60,000 per borrower, began in 1983 ...
    2007-09-23 08:57:00

  • Australian Condition Remains Supportive Of Financial Stability- RBA ...

    RTT News - Nonetheless, the inter bank interest rates firmed up, while currency and equity markets exhibited greater volatility. The bank said the current increase in funding costs is likely to have some impact on the nature of competition in the financial ...
    2007-09-23 08:42:00

  • Wednesday, September 19

    News.com.au - FEDERAL Treasurer Peter Costello says it is clear Kevin Rudd doesn't understand the current income tax system, after the ... WESTPAC's chief economist believes interest rates will remain on hold following the US Federal Reserve's interest rate cut ...
    2007-09-23 08:50:00

  • Oil falls toward $81 as U.S. Gulf output resumes

    Reuters - ... interest rates and a weak dollar -- pushed oil to a record high last week. The Organization of the Petroleum Exporting Countries said the surge in oil prices will shield its members, some of which peg their currencies to the U.S. dollar, from current ...
    2007-09-23 10:16:00

  • News Minute: Rice on Mideast conference...Iranian leader in US...Al ...

    WDAM-TV - This Week in House and Home House & Home Main Today's Mortgage Rates In the Know Movie Listings Personal Finance This Week in Money ... Associated Press - September 23, 2007 8:53 PM ET UNITED NATIONS (AP) - Secretary of State Condoleezza Rice says momentum ...
    2007-09-23 03:13:00

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