Mortgage and Financial News From 2007-8-19 Page 16

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  • Japan Injects More Funds Into Markets

    US News and World Report - TOKYO (AP) -- Japan's central bank injected 600 billion yen ($5 billion) into money markets Monday, a bank spokeswoman said, amid global worries about dubious U.S. mortgages. It was the second trading day in a row that the Bank of Japan has pumped ...
    2007-08-17 04:13:00

  • CBS’s Cynthia Bowers: I Can’t Believe Adjustable Rate Mortgages ...

    News Busters - Nowhere does it say that mortgages can only adjust when the rate drops. The second family Bowers covered in her broadcast had the same thing happen to them as they were about to close. The rate adjusted upward. However, according to Bowers: “They ...
    2007-08-17 06:11:00

  • Linking local home sales to Wall St. woes

    Cape Cod Times - ... have attributed these financial ups and downs to the growing number of foreclosures and delinquencies on subprime mortgages ... This loan may come from a local bank, such as Barnstable County's second-biggest mortgage lender Cape Cod Five Cents ...
    2007-08-19 05:44:00

  • National City terminating home equity unit

    Cleveland Plain Dealer - Since then, the nation's ninth-largest bank has curtailed second mortgages offered through other parts of the company. In general, broker-originated second mortgages are higher risk because the loans often leave the homeowner with little equity and ...
    2007-08-17 09:35:00

  • Cape and Islands brace for loan fallout

    Cape Cod Times - Cape Cod Five is the second-ranking housing lender in the region based on total number mortgages written so far this year, according to data provided by The Warren Group, a Boston-based real estate data publisher. Representatives from the Cape's other ...
    2007-08-19 05:44:00

  • Credit changes have wide impact on lending practices

    Detroit Free Press - Though recent run-ups in rate quotes for jumbo mortgages -- those over $417,000 -- have received widespread publicity, subtler ... In that event, could second homes, non-owner-occupied properties, high-rise condos, central city rowhouses -- or people ...
    2007-08-19 06:48:00

  • Real Estate's Fault Line

    Time - So mortgage brokers found ways to squeeze buyers into first and second mortgages even when their finances were questionable. Consider the appellation NINJA, used to indicate a buyer with no income, no job and no assets. "Capital was made available to ...
    2007-08-16 12:54:00

  • Homeowners Refinancing with Fixed Rate Mortgages

    WOAI - Even though most borrowers still preferred fixed-rate mortgages, the widening spread between fixed- and adjustable-rate mortgages in the second quarter made ARMs a bit more attractive than they had been, she said. One-year ARMs usually carry ...
    2007-08-17 01:32:00

  • Avoiding debt, not refinancing can help dodge a possible foreclosure

    News-Democrat - This is especially true for buyers that have accessed their home's equity by refinancing or taking out second mortgages. As a result of these and other factors, many communities have started homeownership counseling centers for individuals facing ...
    2007-08-19 08:00:00

  • BUSINESS: The squeeze is on

    Santa Fe New Mexican - Prominent among those changes are combination loans, first and second mortgages with up to 100 percent loan to value. Many people with those risky loans find themselves “trapped in the mortgage” if home prices fall, Chippeaux said. In addition ...
    2007-08-19 06:34:00

  • Homebuyers still have lots of loan options

    Nashville Tennessean - Those second mortgages are becoming scarce, Havemann said. Even if you have less money to put down and your credit history is spotty, you still have options under several loan programs, such as those made by private lenders but insured by the Federal ...
    2007-08-19 06:55:00

  • What credit crunch?

    Baltimore Sun - ... have skin in this game," Havemann says. Homebuyers not long ago avoided making a down payment by taking out two mortgages simultaneously. The first would be for 80 percent of the home's value and the second would cover the rest. Those second mortgages ...
    2007-08-19 07:17:00

  • BoT says Thai exports will decrease in last half of 2007 (MCOT - TNA English News)

    BANGKOK, Aug 19 (TNA) - Thailand's exports during the second half of 2007 have been projected to retreat from the first half due to the sluggish economies of the country's trading partners, according to a senior official of the Bank of Thailand (BoT) speaking on Sunday.
    2007-08-19 08:31:56

  • China's Shares Decline for 2nd Day (AP via Yahoo! Finance)

    China's shares fell for a second day Friday amid a global selloff prompted by fears about U.S. mortgages. The benchmark Shanghai Composite Index ended down 2.3 percent at 4656.57 points, adding to a 2.1 percent loss the previous day.
    2007-08-17 11:10:07

  • DB Mortgages to increase sub-prime rates by 1 per cent (Money Marketing Online)

    DB Mortgages says it will be increasing rates on its sub-prime products by 1 per cent when it relaunches its range on August 20.
    2007-08-17 02:12:27

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