Mortgage and Financial News From 2008-6-16 Page 01
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Lenders vow swifter responses to mortgage aid requests - Los Angeles Times
WASHINGTON -- Mortgage companies, facing criticism that they aren't doing enough to stem the housing crisis, are pledging to let troubled borrowers know whether they're approved for help within 45 days of receiving a homeowner's application. The ...
2008-06-16 09:24:00 -
Posted By: bubba - Manhattan Mercury
Just when it seemed that the proposed mortgage bailout couldn’t get any worse, it was revealed that one of the bailout’s primary architects, Senator Chris Dodd, received special “VIP” mortgage rates from Countrywide. Countrywide stands to be ...
2008-06-16 09:45:00 -
Families in a fix as the crunch gets worse - Times Online
The credit crunch tightened its grip on families last night as two big mortgage lenders raised their rates or withdrew deals, the price of oil hit another record and figures showed that new housebuilding projects are about to fall to their lowest ...
2008-06-16 10:50:00 -
RBA holds rates, for now - News.com.au
HOMEOWNERS are likely to have continued respite from higher mortgage rates for the time being, but the Reserve Bank of Australia (RBA) is poised with its finger on the interest rate trigger if economic conditions change. At its June 3 board meeting ...
2008-06-16 08:12:00 -
RBA points to respite for homeowners on mortgage rates - News.com.au
MORTGAGE rates are likely to stay on hold for the time being but the Reserve Bank has warned it will act quickly if conditions change. At its June 3 board meeting, the RBA decided to leave the official cash rate at 7.25 per cent, taking note of signs ...
2008-06-16 08:26:00 -
Borrowers gain options for lower interest mortgage rates and principal reductions - lenders have 45 days to respond (India Daily)
Hope Now Alliance will announce Tuesday something that will help the housing market, the borrowers and the lenders. The large lenders such as Countrywide and Wells Fargo have agreed lenders will have 45 days to decide whether they are willing to renegotiate the loan of a struggling borrower.
2008-06-16 09:45:06 -
Forecast rising house prices will hit renters (Grenfell Record)
HOUSE prices across Sydney will jump 18 per cent over the next three years, but at the expense of renters paying more due to the lack of housing supply, says a leading property forecaster.
2008-06-16 10:19:58 -
Tuesday newspaper round-up: BP, AB Foods, Cheyne Capital (ShareCast)
LONDON (SHARECAST) - A dispute between BP and its Russian partners over the future of their TNK-BP joint venture has escalated into open warfare, with the UK oil giant threatened with a legal showdown and the company's chairman, Peter Sutherland, accused of using Nazi propaganda tactics.
2008-06-16 10:32:43 -
Homebuyers squeezed again as mortgage lenders raise rates (Gulf Times)
LONDON: Two of Britain’s biggest mortgage lenders raised rates on their home loans by up to 0.5% yesterday. The move by Nationwide and Woolwich has been caused by turmoil in the City money markets last week.
2008-06-16 10:37:12 -
Woolwich Halts Some Home Loans; Nationwide Rates Up, Times Says (Bloomberg.com)
June 16 (Bloomberg) -- Woolwich Plc, the U.K. mortgage bank owned by Barclays Plc , will stop offering two-year fixed home loans and boost fees on so-called tracker-rate mortgages, the London-based Times reported.
2008-06-16 10:41:26 -
Lenders pledge to clarify process (Houston Chronicle)
Mortgage companies, facing criticism that they aren't doing enough to stem the housing crisis, are pledging to let troubled borrowers know whether they're approved for help within 45 days.
2008-06-16 10:57:14 -
Advertisement starts (Tiscali)
The move is just the latest in a string of rate changes among Britain’s lenders as they vie to navigate liquidity problems and attract less risky customers.
2008-06-16 11:05:22 -
20% of homeowners in fear of repossession - MyFinances.co.uk
One in five homeowners are worried about repossession, as the credit crunch and high inflation pull their fingers around the necks of the UK. Worryingly, two-fifths of homeowners would voluntarily give up their home if they couldn’t keep up their ...
2008-06-16 10:11:00 -
Is Washington Experience a Crime? - Washington Post
In 1981, Prince Charles had a problem. He needed to marry, but not just anyone would do. He was expected to choose someone who had a spot of royal or noble blood, was a Protestant and also -- somewhat harder to find -- a virgin. It was thus that ...
2008-06-16 09:09:00 -
Slippery property ladder - Northampton Chronicle
My advice to first time buyers? Rent." Having taken his first steps onto the property ladder, 28-year-old Duncan Woods believes he bought at just the right time "before it all got messy". probably still be in rented accommodation if he held off any ...
2008-06-15 06:55:00