Many subprime borrowers could lose homes (Deseret Morning News)
As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government....more...A volatile market for Shore property (The Philadelphia Inquirer)
Sales dropped by more than a third in 2006 from 2005 in Atlantic, Cape May and Ocean Counties, and that decline continues overall. But median prices have yet to follow suit....more... Mortgage woes hit E-Trade, Merrill (Los Angeles Times)
E-Trade cuts its profit outlook and Merrill Lynch is eliminating jobs at its sub-prime lending operation. -- Mortgage woes dealt a double whammy to the securities industry Monday as online broker E-Trade Financial Corp. slashed its 2007 profit forecast, citing losses on home-equity loans, and Merrill Lynch & Co. said it was cutting jobs at its sub-prime lending operation. ...more... The battle of the little big thorn: subprimes (Rocky Mountain News)
As many as half the 450,000 subprime borrowers whose mortgage payments will rise in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government....more... Battle brewing over mortgage liability (The Record)
WASHINGTON -- Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders....more... Real Estate Live (Washington Post)
The Post's Maryann Haggerty and Elizabeth Razzi answers your questions about the local housing market. ...more... Treasury 10-Year Notes Rise on Outlook for Slowing Growth (Bloomberg.com)
Sept. 21 (Bloomberg) -- Treasury 10-year notes rose for the first time in a week as forecasts for slowing growth reduced inflation expectations....more... Four tales of city dwellers who fled New York (New York Daily News)
More New Yorkers leave the city every year than move here, a trend highlighted in a population study released last week. ...more... Another Black Wednesday was a whisker away (Times Online Sunday)
Every ten years or so, any capitalist democracy can expect to have its economic system and governing institutions severely tested. For Britain, the last such occasion was Black Wednesday, 15 years ago, and before then the Winter of Discontent in 1979 and the sterling devaluation of 1967....more... |