Mortgage and Financial News From 2008-5-9 Page 2
Previous Day: 2008-05-08
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A.I.G.’s Quarterly Loss Depresses Dow (NYTimes.com via Yahoo! Finance)
Wall Street was down sharply as investors contended with wider-than-expected losses at American International Group and another worrisome spike in oil prices.
2008-05-09 08:37:16 -
Mortgage Holders Find It Hard to Walk Away From Their Homes (NYTimes.com via Yahoo! Finance)
The blogosphere is full of tales of homeowners who supposedly are choosing to mail the house keys to their lenders rather than keep their depreciating homes, but this remains a rare occurence.
2008-05-09 08:37:16 -
ALL BUSINESS: Government-backed housing bailout badly needed - San Diego Union-Tribune
Before shouting about all the reasons why taxpayers shouldn't rescue the profligate who took on more debt than they could handle, think about this: New research estimates one in 33 subprime borrowers will foreclose on their homes in the next two ...
2008-05-09 01:33:00 -
Macquarie Infrastructure Company Reaffirms Guidance for 2008 Estimated ... - MSN MoneyCentral
Macquarie Infrastructure Company MIC , a leader in the ownership and operation of U.S. infrastructure businesses, has reaffirmed its guidance for estimated cash available for distribution ("CAD") in 2008. MIC expects that CAD will be in a range of ...
2008-05-09 01:19:00 -
Moody's expects GMAC to cut lending to ResCap - CNBC
NEW YORK (AP) - Residential Capital LLC, the real estate lending unit of GMAC LLC, does not have a proven business model to repay even reduced debt obligations, given the disruptions on the mortgage market, Moody's Investors Service said Friday. The ...
2008-05-09 01:48:00 -
Berkeley finds Saudi finance to snap up cheap building land - Times Online
Berkeley Group, London's largest housebuilder, is poised to start buying land from distressed sellers as part of a drive to build up a £1billion venture with a Saudi Arabian billionaire. Berkeley's acquisition drive comes just as other large ...
2008-05-09 03:42:00 -
Reality check for Endemol lenders - Financial Times
It is Deal or no Deal time for Endemol ’s lenders. Six banks face potential losses of up to €400m ($618m) as they try to sell on debt taken on to finance the game show producer’s takeover last year just before leveraged finance markets seized ...
2008-05-09 04:47:00 -
Fannie to Aid Underwater Loans - Wall Street Journal
Fannie Mae is preparing to introduce by midyear a program of refinancing mortgages for people who owe more than the current value of their homes, a situation known as being "underwater." The plan is the latest twist in efforts to contain the surge in ...
2008-05-09 04:54:00 -
Lifting the Lid: Bankruptcies now come pre-packaged - Forbes
NEW YORK (Reuters) - The days when troubled companies could spend years fixing their problems in bankruptcy court are fast evaporating. As companies face the tightest credit market in decades, ready-made, pre-packaged and pre-arranged bankruptcies ...
2008-05-09 05:15:00 -
Take a holiday in sunny Barbados (courtesy of your mortgage deal) - Guardian Unlimited
We are used to mortgages that throw in a free valuation or provide help with legal fees - but how about a home loan that comes with a free return flight to Barbados? Lloyds TSB this week cut through some of the homebuying gloom with the launch of its ...
2008-05-09 04:04:00 -
House prices under pressure - News.com.au
House prices rose five-fold in last 20 years Houses now 'expensive and overvalued' In-depth : The latest interest rate news and features AUSTRALIAN house prices look vulnerable over the next year as rising interest rates and record levels of mortgage ...
2008-05-09 04:40:00 -
US 30-year mortgage rates fall in latest week - Reuters
WASHINGTON, May 8 (Reuters) - U.S. 30-year mortgage rates eased slightly in the week ended May 8, home funding company Freddie Mac (FRE.N: Quote , Profile , Research ) said on Thursday. Thirty-year mortgage rates dropped to an average of 6.05 percent ...
2008-05-08 07:30:00 -
ASB cuts mortgage rates - ONE News
ASB has cuts its key mortgage rates for the first time since the global credit crunch forced interest rates higher earlier this year. The bank's two-year rate is down to 9.4% from 9.7%. Its six month rate has moved to 9.75% from 9.85%. Managing ...
2008-05-09 01:12:00 -
Unofficial rate rises could end - NAB - News.com.au
Banks have raised mortgage rates by 40bp since January NAB says more moves outside RBA 'unlikely' Calculator : Compare home loans AFTER a painful period of official and unofficial interest-rate adjustments working against the customer, National ...
2008-05-09 04:47:00 -
Mood swings against US homes rescue - Financial Times
Last month, as Barney Frank and Chris Dodd pressed forward with their plan to deliver a massive dose of government aid to the US mortgage market, the political winds were clearly in favour of the two powerful Democratic legislators. Amid fears that ...
2008-05-09 03:57:00