Mortgage and Financial News From 2008-3-21 Page 01
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Up north dream homes a nightmare to unload (Detroit News)
Many homeowners are stuck paying the mortgage on an up north cottage they can't unload because other families, who might once have ventured into the vacation-home market, are cutting back in light of job-security fears, stricter lending standards, the high cost of gasoline burned on weekend drives north or other economic concerns. Unfortunately for sellers, this "buyers" market has come when ...
2008-03-21 10:25:56 -
It's not the 1930s (Journal Inquirer)
Nicholas Perna is the economic adviser to Webster Financial Corp. and chief economist and managing director of the consulting firm Perna Associates. He is also a visiting lecturer at the University of California at Berkeley and Yale University.
2008-03-21 10:39:31 -
Help is available for foreclosure victims (South Side Journal)
Even though the national housing foreclosure crisis has not hit the South County area nearly as hard as other areas, help is available to those who find themselves in the thick of it.
2008-03-21 11:07:09 -
Jitters persist in challenging times (Rocky Mountain News)
Any present optimism may be premature.
2008-03-21 11:08:52 -
Morgatee sales on the rise (TVNZ)
With interest rates going through the roof and house prices dropping, the number of mortgagee sales is on the rise with warnings things could get even worse.
2008-03-21 11:41:42 -
Mortgage turmoil benefits pensions (The Post and Courier)
COLUMBIA — The subprime mortgage crisis has yielded at least one benefit for states: Mortgage-related investments have become so cheap that they are luring some pension funds to buy. Retirement systems in South Carolina and Pennsylvania are nibbling at the securities, betting that th...
2008-03-21 09:39:35 -
Offering Money Where the Big Banks Won’t (NYTimes.com via Yahoo! Finance)
From the Baltic to the Mediterranean, small, local banks like Turkiye Garanti Bankasi are stepping in to finance corporate buyouts as big banks grapple with the running credit crisis.
2008-03-21 09:40:01 -
Resist the Impulse to Panic (NYTimes.com via Yahoo! Finance)
Short of putting our heads in the sand and hoping it all passes, what should we do with our own finances?.
2008-03-21 09:40:03 -
Justice Dept. Is Gathering Data on Mortgage Industry (NYTimes.com via Yahoo! Finance)
The F.B.I. is in the middle of a criminal investigation focusing on 17 firms that may have engaged in corporate fraud, an F.B.I. official confirmed this week.
2008-03-21 09:40:04 -
Debt-Gorged British Start to Worry That the Party Is Ending (NYTimes.com via Yahoo! Finance)
For most of the last decade, consumers in Britain went on a debt-financed spending spree, racking up a record £1.4 trillion in debt — more than the country’s gross domestic product.
2008-03-21 09:40:04 -
PB FORECLOSURES FEW COMPARED TO STATE (Pine Bluff Commercial)
The Pine Bluff economy may be bruised, but it is not battered like the national economy by the growing mortgage foreclosure crisis, according to Kyle Havner, an attorney with the Baim Law Firm.
2008-03-21 09:43:20 -
Valley Flagged (Valley Morning Star)
McALLEN - It will be more difficult for first-time homebuyers to get a loan because mortgage insurers have flagged the Rio Grande Valley as a declining real estate market.
2008-03-21 09:48:00 -
Pension funds look for bargains (Bradenton Herald)
So don't expect other state-run pension plans to immediately rush back in to mortgage-related investments, said Keith Brainard, research director for the National Association of State Retirement Administrators. "It's going to be a lot more subtle in most cases."
2008-03-21 09:53:09 -
Financial turmoil raises worries of deeper recession — worst since World War II (Savannah Morning News)
WASHINGTON - It's been almost an article of faith: Any recession this year will be mild and brief.
2008-03-21 09:55:52 -
Two-Year Notes Have Biggest Weekly Decline in 2008 on Fed Cut (Bloomberg.com)
March 21 (Bloomberg) -- Two-year Treasury notes posted their biggest weekly loss this year after the Federal Reserve cut borrowing costs less than investors anticipated and said inflation remained ``elevated.''
2008-03-21 07:55:27