Mortgage lenders pressured to offer relief (Post-Bulletin)
LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adj...more...Mortgage lenders urged to help borrowers (Provo Daily Herald)
Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball, the mortgage industry is under increasing pressure to do even more to help financially strapped borrowers hang on to their ......more... Mortgage lenders pressured to offer borrowers relief (Lake County News Sun)
Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball, the mortgage industry is under increasing pressure to do even more. ...more... Mortgage industry feels pressure to give borrowers even more help (The Post and Courier)
LOS ANGELES ? Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball,......more... Chicago Bank Takes Action Against Subprime Housing Crunch (The Online NewsHour)
Chicago's ShoreBank has implemented a "rescue loan program" to help customers refinance home mortgages that may be in danger of default. A consumer advocate and a mortgage industry representative weigh in on how to best respond to the country's subprime loan crisis....more... Dollar Falls to Record Low Versus Euro as Bets on Fed Cut Mount (Bloomberg.com)
Oct. 26 (Bloomberg) -- The dollar fell to a record low against the euro on signs climbing oil prices and a slump in housing are hurting U.S. consumer confidence, bolstering the case for the Federal Reserve to cut interest rates again....more... Is Bailing Out Reckless Investors Wise? Don't Bank on It. (Washington Post)
Last summer, the bill started to come due on our debt-fueled economy. We should have let it -- and let reckless speculators, subprime lenders and banks finally get what they had coming. But instead, the financial authorities let them off the hook. Rather than simply letting markets be markets, they bailed out both the fools and the knaves. We'll all live to regret it....more... Time to think about fixing your mortgage (The Australian)
A QUARTER of a per cent interest rate rise is almost certain when the Reserve Bank meets next month....more... Why Now is a Good Time to Refinance (Benton Evening News)
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments....more... |