News

2007

November

06
  • 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.…
  • Consumer/civil liberties response to housing bill. WASHINGTON, DC – October 24, 2007 - A coalition of consumer groups who work on housing and predatory lending issues released a statement today in reaction to legislation* introduced by Reps. Brad Miller (D-NC), Mel…
  • Countrywide anuncia ayuda a sus clientes. Countrywide Financial, la empresa de préstamos hipotecarios más grande de Estados Unidos, dijo este martes que ofreció a unos 82 mil de sus clientes —cuyas tasas de interés deben ser ajustadas a fines de 2008—…
23
  • Bill would tighten mortgage lending standards. Barney Frank, chairman of the House Financial Services Committee, yesterday unveiled legislation aimed at curbing abusive lending practices that, he said, have fueled an alarming rise in foreclosures. The long-expected bill, which was immediately criticized…
  • Bill seeks to curb abusive mortgage lending. A leading House Democrat took on the banking industry Monday with a bill to restrict lending practices partly blamed for the nationwide surge in mortgage defaults and foreclosures. The legislation introduced by Rep. Barney Frank,…
  • Largest lender to redo $16B in loans. Countrywide Financial plans to announce Tuesday that it will restructure or refinance $16 billion in adjustable-rate mortgages that have recently reset to higher rates or will reset by the end of next year, stretching some…
 

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