Mortgage and Financial News From 2008-1-31 Page 19

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  • Option ARMs, next chapter in housing crisis (Reuters.co.uk)

    CHICAGO (Reuters) - The U.S. housing crisis has focused attention on adjustable rate mortgages (ARMs) and the danger posed by their spiking interest rates.
    2008-01-31 04:48:35
  • The Fed Cut: A View from Davos (Newsweek)

    At Davos, the Fed's rate cut is set to dominate discussion
    2008-01-31 04:56:10
  • 'Thatcher rescued Britain's greatness' (Daily Telegraph)

    The former prime minister refused to accept decline. She was pragmatic and a moderniser, says David Cameron, leader of the Conservative party.
    2008-01-31 05:04:18
  • Rudd asks unions to show wage restraint (Hastings Gazette)

    Prime Minister Kevin Rudd has warned of "pain and difficulty" for Australians in this year's budget as he declared inflation to be public enemy No. 1.
    2008-01-31 05:21:39
  • Relief as Mboweni says no to rate hike (Daily Dispatch)

    CONSUMERS and business owners heaved a collective sigh of relief yesterday when SA Reserve Bank Governor Tito Mboweni decided to leave the repo rate unchanged at 11%.
    2008-01-31 05:33:22
  • Angry Liverpool fans launch bid to oust American owners

    CBS Sportsline - To help fund Anfield stadium's replacement in nearby Stanley Park and refinance the loan used to purchase the Reds, Hicks and Gillett last week completed a 350-million-pound (US$682 million; euro470 million) refinancing package. But the package leaves ...
    2008-01-31 08:47:00
  • Defaults on Insured Mortgages Rise 37%, Report Shows (Update3)

    Bloomberg - Lower values hurt the ability of borrowers to refinance or lenders to recoup their investment in a foreclosure. The number of delinquent insured mortgages that returned to good standing fell to 34,813 in December from 37,137 a month ...
    2008-01-31 09:30:00
  • Declining rates provide refinance opportunities

    Herald-Coaster - The stock market this month has produced its share of ominous news, but newly lowered interest rates could mean opportunities for homeowners or homebuyers. Mark Magee, a senior commercial banker with Amegy Bank in Rosenberg, said now may be a good ...
    2008-01-31 01:12:00
  • Now's the time to refinance your mortgage

    WISH-TV - INDIANAPOLIS (WISH) - You'll remember the feds cut the interest rate a dramatic three quarters of a point less than two weeks ago. Then on Wednesday another half point drop. So, is this the time to refinance your home? Sheila Smith is a happy ...
    2008-01-31 03:14:00
  • Soothing words help to ease banks’ pain

    Times Online - It has agreed to provide a “backstop facility” of up to this amount should no other institutions refinance loans to the vehicle that are coming due. Standard Chartered emphasised that the sum was only 2 per cent of its balance sheet and ended 13p ...
    2008-01-31 03:57:00
  • Macklowe in deal to cede control of 7 buildings-WSJ

    Reuters - Macklowe had borrowed $5.8 billion from Deutsche Bank to acquire the buildings last year and had not found a way to refinance that debt, due on Feb. 9, the Journal reported. This week, he reached a tentative agreement with Deutsche Bank that would ...
    2008-01-31 02:02:00
  • Pets losing homes, humans in foreclosures

    Los Angeles Times - Refinancing wasn't an option because the house's value had fallen so much since their last refinance. They found a rental, but the landlord said "no dogs." "Since it was such a horrible situation because we didn't know where we were going to live, we ...
    2008-01-31 02:09:00
  • U.S. hotels can't go private due to credit crunch

    Guardian Unlimited - Steve Mendell, head of acquisitions and development at HEI Hotels & Resorts, said that if industry fundamentals worsen, many loans could become distressed once it comes time to refinance.
    2008-01-31 04:04:00
  • Likely rate rise reason to reassess mortgage

    News.com.au - He said potential borrowers, and those looking to refinance, should not make any rash decisions when taking out a loan. "Lenders offer many different loan options, each with varying rates, terms and conditions, service and fee packages,'' Mr Naylor ...
    2008-01-31 04:25:00
  • Trying to tap into home equity? We'll see

    Los Angeles Times - Cityside Federal Credit Union in downtown Los Angeles, which has 6,482 members and $53 million in assets, has reduced its maximum percentage of home value to 90% from 100% and is turning down many requests from members who had hoped to refinance ...
    2008-01-31 02:24:00