News

2007

October

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. Lenders have come
  • 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 Watt (D-NC) and
  • 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
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 homeowners
  • Criticism rains down on mortgage industry. Chetera Miller, a credit counselor for Neighborhood Housing Services of Chicago, has noticed that lenders are becoming more willing to cut deals with delinquent borrowers. She's been able to help eight homeowners restructure their loans
22
  • Buyers pounce on foreclosures. MINNEAPOLIS, Oct. 21 — In a down real estate market, they came to buy. They came early, they came in numbers and they came with bank checks for $5,000. By 10 a.m. Saturday, more than 700 people filled a
  • Algunos incentivos para atraer compradores. Ya no basta colgar un aviso en la ventana o fijar un anuncio frente a la propiedad. Vender una casa o apartamento en un mercado saturado de propiedades que están a la venta, es
21
  • Serious about budgeting? Here's how. Sometimes the standard prescription for trimming a budget doesn't produce the desired results. So what do you do if you're still broke after fewer lattes and no more Chinese takeout? It's a question that a
  • Knowing the rules results in tax savings. Achance remark on a column about year-round tax savings has prompted a few skeptical, if not downright cynical, responses. I mentioned that my wife, Georgina, and I are in the 15 percent tax bracket, the second-lowest
20
  • Vultures circle over distressed properties. Call them grave dancers, vulture funds, turnaround specialists or the more euphemistic "opportunity investors." However you identify them, the deal is the same: When hyperactive real estate markets lose their sizzle, or property owners no
19
  • Fix rates to save loans. There have been many proposals to deal with the problems in the mortgage market. But the best place to begin is by looking at the poor lending standards and weak consumer protections at the root
  • Homeowners: Sell it yourself. The last time Sabrina Williams sold a home herself, she received a solid offer the first week, got her asking price of $319,000 and saved nearly $9,000 in broker fees in the process. Snap, just like that.
16
  • An unsavory slice of subprime. It's getting hard to wrap your brain around subprime mortgages, Wall Street's fancy name for junk home loans. There's so much subprime stuff floating around -- more than $1.5 trillion of loans, maybe $200 billion of losses,
  • Home Insurers Canceling in East. It is 1,200 miles from the coastline where Hurricane Katrina touched land two years ago to the neat colonial-style home here where James Gray, a retired public relations consultant, and his wife, Ann, live. But this
15
  • NYC study: Minorities pay more for mortgages. Home buyers in predominantly black and Hispanic neighborhoods in New York City were more likely to get their mortgages last year from a subprime lender than home buyers in white neighborhoods with similar income levels,
12
  • Foreclosures drop, but they're nearly double 2006. Home foreclosure filings fell 8% in September from a 32-month peak in August, but they were still nearly double year-ago levels, real estate information company said Thursday. A total of 223,538 foreclosure filings were reported in September,
  • Countrywide is assailed in protest of policies. The Countrywide Financial Corporation, the nation’s largest lender and loan servicer, reported on Thursday that delinquencies and foreclosures in its portfolio were rising steeply. A few hours later, the company became a target of
 

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