Officials reach out to homeowners with mortgage troubles (Atlanta Journal-Constitution)
New efforts at early intervention to prevent foreclosure will be launched next year, even as government and mortgage industry leaders negotiate in Washington whether to temporarily freeze adjustable rates on some $362 billion in subprime loans that are set to increase in 2008....more...U.S. stocks up, bonds slip on rates, mortgage plan (Reuters via Yahoo! UK & Ireland News)
U.S. stocks gained and bond prices declined on Friday as financial markets were moved by convictions the Federal Reserve will cut interest rates in two weeks and news that the U.S. government is working on plans to help homeowners recover from the subprime mortgage crisis....more... GLOBAL MARKETS-Stocks up, bonds slip on rates, mortgage plan (Reuters via Yahoo! Singapore News)
NEW YORK, Nov 30 - U.S. stocks gained and bond prices declined on Friday as financial markets were moved byconvictions the Federal Reserve will cut interest rates in two weeks and news that the U.S. government is working on plans to help homeowners recover from the subprime mortgage crisis....more... EXCLUSIVE: Paulson 'Optimistic' About Mortgage Plan to Help Subprime Borrowers (ABC News)
Paulson says plan to address increasingly complex mortgage mess. ...more... CORRECTION: Attempt to freeze sub-prime rates could lead to investor protest (Sharewatch)
(corrects Wells Fargo data) WASHINGTON (Thomson Financial) - Two major questions that need to be resolved before a government-led agreement can be worked out to freeze lower interest rates on sub-prime mortgage loans are whether investors in these loans will agree with this change, and if not, whether their opposition would lead to a wave of lawsuits against the move....more... Mortgage plan cheers Wall St (FT.com via Yahoo! News)
Wall Street stocks were mostly higher on Friday, rising for a fourth consecutive day, as hopes for further interest rate cuts and a nascent plan to help subprime borrowers lifted a range of financial companies and homebuilders....more... Jackson Urges New Loans to Avert Crisis (AP via Yahoo! Finance)
If the nation's mortgage mess results in more foreclosures, the result would be widespread economic fallout, according to the Rev. Jesse Jackson....more... U.S. Leans on Subprime Lenders to Freeze Rates (New York Times)
Treasury officials said they were pleased by the progress in persuading mortgage lenders to agree to a temporary rate freeze on subprime loans to avert foreclosures....more... Groups offer help with housing crisis (Bowling Green Daily News)
The national mortgage foreclosure crisis hasn?t hit Bowling Green very hard - yet. But local officials worry that it?s coming, and are preparing to help people at risk of losing their homes....more... |