Mortgage and Financial News From 2008-1-31 Page 4

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  • U.S. Homeowner Credit Evaporates (Free Internet Press)

    Countrywide and others tell thousands of homeowners that they can no longer borrow against their credit lines as the companies tighten standards. Tens of thousands of homeowners with home equity lines of credit are getting a rude surprise: They've been told by their lender that they can no longer take money out on their credit lines because sinking home prices have put them "upside down" on ...
    2008-01-31 09:55:20
  • Two new 2007 tax breaks help homeowners struggling with mortgage payments (Detroit News)

    WASHINGTON -- In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible.
    2008-01-31 10:23:25
  • Wall Street Embraces Big Government to Stave Off U.S. Recession (Bloomberg.com)

    Feb. 1 (Bloomberg) -- With U.S. mortgage foreclosures set to top 1 million this year and home prices falling at the fastest pace since the Great Depression, Lehman Brothers Holdings Inc. Vice Chairman Thomas Russo says the government must take action to prevent a recession.
    2008-01-31 10:36:09
  • Area foreclosures jump in January (Bradenton Herald)

    There were almost four times as many Manatee County foreclosures in January as there were during the same month a year earlier.
    2008-01-31 10:51:49
  • Carney May Resist Fed-Like Rate Cuts to Curb Canada's Inflation

    Bloomberg - Carney may reject fast and deep cuts to avoid criticism he's helping investors who made bad choices such as ... Bank of Canada, which was injecting billions of dollars into the financial system after the U.S. subprime-mortgage collapse fueled credit ...
    2008-01-31 09:26:00
  • Gambling losses can offset those taxable winnings

    Detroit News - But it's not all bad news. The IRS allows gamblers to deduct losses up to, but ... money, his big earnings make him ineligible for certain deductions, such as mortgage ... gambling activity is less intuitive than balancing a checkbook or tracking credit ...
    2008-01-31 10:02:00
  • Macklowe to Sell GM Building This Month to Pay Debt, People Say

    Bloomberg - Macklowe is selling as lenders limit the availability of credit in the wake of rising delinquencies in the subprime mortgage market. ... This is really going to hurt him and I think it's bad for the market, but he'll come back ...
    2008-01-31 09:19:00
  • Euroshares open lower as banks, insurers struggle on credit woes ...

    CNN Money - ... Europe's leading exchanges fell in opening trade as the financial sector suffered a renewed bout of weakness on credit ... MHP) said it is considering slashing its rating on more than 500 bln usd of investments tied to bad mortgage loans. Among the ...
    2008-01-31 08:11:00
  • Where credit is due

    Newsday - Three years ago, he sent in his monthly mortgage payment as usual, but it got lost in ... But when he got his credit report last month, he found the single late payment with ... because it has found that people with isolated delinquencies aren't really bad ...
    2008-01-31 08:11:00
  • Ask Bing: Lending money to co-workers

    CNN Money - My coworker has a giant financial problem (bad mortgage, credit card debt, student loans etc.). I think this is just the tip of the iceberg. How do I let my boss know without getting myself in a heap of trouble or looking like an instigator? Sorry ...
    2008-01-31 08:47:00
  • Economy On The Brink: The Tyneside Test

    Sky.com - Is Britain's economy on the brink of a downturn, of bad times, or even - whisper ... Out economy is threatened by the credit crunch in the US and inflation caused by ... homeowners who will be hit in the pocket when his two-year, fixed-rate mortgage ...
    2008-01-31 08:07:00
  • ANALYSIS-Bristol credit write-down not corporate USA's last

    Forbes - ... that its fourth-quarter loss included a $275 million charge related to investments in mortgage-backed and other securities hurt by the credit ... But the bad news for investors is that bad mortgage-backed investments will take a bite out of profits. ...
    2008-01-31 02:31:00
  • Wall Street Embraces Big Government to Stave Off U.S. Recession

    Bloomberg - Feb. 1 (Bloomberg) -- With U.S. mortgage foreclosures set to top 1 million this year and home prices falling at the fastest ... Countrywide reported a net loss of $703.5 million in 2007, dragged down by loans to people with bad credit, and the Calabasas ...
    2008-01-31 10:09:00
  • Getting Knocked Down by Prime ARMs

    BusinessWeek - ... to the woodshed for irresponsibly giving money to home buyers with poor credit just so they could bundle up the mortgages and resell them as toxic residential-mortgage ... How bad is it? In Arizona, between the third quarters of 2006 and 2007, there ...
    2008-01-31 09:12:00
  • City’s relief as bonuses defy credit crunch

    Financial Times - ... thought the prospect of receiving a year-end bonus evaporated when the credit ... Many banks suffered multi-billion dollar losses on subprime mortgage investments in ... For most employees in an investment bank “things have not been as bad as ...
    2008-01-31 04:54:00