News

2007

November

10
  • Ojo con los ‘salvadores’ del embargo. Los propietarios que afrontan la posible pérdida de su vivienda por impago de la hipoteca pueden convertirse en víctimas de quienes prometen rescatar la propiedad frente a un proceso de ejecución hipotecaria. El escenario es…
09
  • Con artists circle over homeowners on the edge. At the Legal Assistance Foundation of Metropolitan Chicago, the phone calls come nearly every day from yet another financially desperate homeowner who's become the victim of a "foreclosure rescue" scam. "This has become the No.…
08
  • Debt management plans can help consumers. Consumers struggling to keep up with higher gas prices and other rising household expenses have been pulling out their credit cards more often — sometimes too often. Credit counselors report a sharp rise in the…
  • Homeowners feel pinch of lost equity. As his wedding day approached last spring, Marshall Whittey [of Reno, NV] found that his money could not keep pace with the grandiosity of his plans. But rather than scale back, he chose instead, like…
06
  • Watered-down mortgage reform. What a difference a day makes. Just yesterday, this page praised the House Financial Services Committee for producing an exemplary bill, the Mortgage Reform and Antipredatory Lending Act of 2007, and urged its members to…
  • Borrowers face dubious charges in foreclosures. As record numbers of homeowners default on their mortgages, questionable practices among lenders are coming to light in bankruptcy courts, leading some legal specialists to contend that companies instigating foreclosures may be taking advantage of…
05
  • Subprime bailouts: Chump check. Not everyone is happy about mortgage lenders' latest efforts to help troubled borrowers. Take Teresa Nelson. Instead of going for an adjustable rate mortgage with its lure of low initial rates, she opted for the…
  • Rising heating bills spur oil-to-gas switch. NEW YORK - With his furnace sputtering its final gasps, Charles Comito decided it was time to trade in his heating oil system for natural gas this year. The switch cost $4,400, a price he…
04
  • Long-term insurance: Worth its weight?. Tom Binder wanted to prepare for the future - including the possibility that he or his wife could be stricken by a long, debilitating illness in their sunset years. "I don't think it's a good…
  • Struggling with less. Layoffs and subsequent lower-paying jobs have taken a toll on Terri and Kevin Beirne of Orlando, Fla. Four years ago, they both were laid off briefly within a few weeks of each other. They missed…
02
  • New York sues appraiser in mortgage loan probe. New York's attorney general sued one of the country's largest mortgage appraisers yesterday for inflating house values, saying it would be the first in a series of cases to attack what he said were pervasive…

October

31
  • Fed cuts key rate another quarter-point. The Federal Reserve cut a key short-term interest rate by a quarter-point to 4.5% on Wednesday, seeking to support troubled financial markets and shore up the collapsing housing sector. The central bank also warned markets…
30
  • Countrywide CEO: More trouble ahead for housing market. The chief executives of Countrywide Financial (CFC) and KB Home (KBH) predicted more trouble ahead for the nation's slumping housing market on Monday, calling on lawmakers to expand financing for home buyers. The remarks from…
  • Viviendas: Horizonte pesimista. Ante la caída en los precios de la vivienda en Estados Unidos, que ha afectado en particular a California, las perspectivas no son optimistas. Al ser cuestionado directamente sobre si el peor momento ya ha…
29
  • Lead threat to kids can be at home. The house is not the biggest on the block, but Blanca de la Cruz's brick bungalow, on a quiet street south of downtown Milwaukee, is swept and tidy, with twin pots of vivid pink petunias…
  • Federal government pushed on Plain English. Gobbledygook. It's the stuff of government. Maybe its No. 1 export. Now, a first-term House member, Bruce Braley (D-Iowa), wants to do away with the wordy, pompous and confusing forms and memos that spew out…
27
  • FHA reform: Stuck in neutral?. Distress in the mortgage market is generating a wave of relief bills on Capitol Hill, including one that would allow homeowners to tap into their retirement accounts - penalty-free - to bring their loans current…
26
  • Latinos reciben poca información hipotecaria. Varios legisladores advirtieron ayer en el Congreso acerca de la necesidad de una mejor información para los hispanos a la hora de comprar una casa y recomendaron a los actores en este mercado que fomenten…
24
  • Insurance claims could haunt houses. If past history is any measure, many homeowners affected by the wildfires burning throughout Southern California will find that claims they submit to insurers will result in higher rates or even dropped policies. What they,…
  • Countrywide To Offer To Rework 82,000 Loans. Countrywide Financial, the nation's largest mortgage lender, said yesterday that it will offer to refinance or modify about $16 billion in home loans through the end of 2008, a move that could affect 82,000 borrowers.…
 

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