Mortgage and Financial News From 2008-8-3 Page 8
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Bank replaces CEO, reports wide loss - AZCentral.com
Silver State Bank's board chairman and chief executive officer resigned Friday as the commercial bank announced a worse-than-expected net loss due to real estate loans gone bad in Nevada and Arizona. Michael Thorell, the former president of Silver ...
2008-08-01 12:30:00 -
Preferred stocks yield big dividends (San Francisco Chronicle)
Last week, Bank of America was offering a 3.3 percent "high yield" rate on certain CDs. But, you could have instead locked in 7.9 percent by buying Bank of America preferred shares. While not insured by the U.S. government, most experts view Bank of America...
2008-08-03 12:28:04 -
Who qualifies for mortgage help and how to get it - The State
http://banking.senate.gov/public/_files/HousingandEconomicRecoveryActSummary.pdf http://www.house.gov/apps/list/press/financialsvcs_dem/hr3221_bill_text.pdf http://banking.senate.gov/public/_files/HousingandEconomicRecoveryActSummary3.pdf Federal ...
2008-07-29 05:55:00 -
A zero-down mortgage by any other name? - Globe and Mail
Jonathan Tonge from Milton, Canada writes: If they were keen on 'avoiding a US style housing bubble' then they shouldn't have desperately introduced the 30, then 35, then 40, interest only and zero down mortgages back in 2006 in the first place. The ...
2008-08-03 07:48:00 -
Q&A: How does mortgage help work? - Newsday
What exactly will the legislation do? It will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home's current value. The Federal Housing Administration will insure ...
2008-07-30 05:54:00 -
Local lenders dodge mortgage mess (Waterloo-Cedar Falls Courier)
WATERLOO --- Metro banks remain relatively untouched by the latest shake-up in the struggling U.S. housing industry.
2008-08-03 04:37:17 -
Should you buy a home now? (Los Angeles Times)
The drop in prices may mean it's time to jump in. Or is it too soon? Experts offer pros and cons. Southern California median home sale prices are down about 30% from their peak. That's about as far as they fell in the 1990s real estate downturn, and enough of a decline to have many asking: Is it time to buy? ¶ Some are already answering with their checkbooks. In the inland areas where prices ...
2008-08-03 06:16:18 -
Families tackle finances (Akron Beacon Journal)
Today as part of ongoing coverage of consumer-debt issues, the Beacon Journal introduces five ''reader models,'' or participants who were chosen to get financial makeovers by money coaches with the Consumer Credit Counseling Service.
2008-08-03 06:19:30 -
Company's earnings increase (Berkshire Eagle)
LENOX — Legacy Bancorp, the parent company of Legacy Banks, has announced second quarter earnings of $914,000, an increase of 28 percent over the second quarter of 2007.
2008-08-03 06:23:36 -
Australia's banks not out of the woods (The Australian)
RBA governor Glenn Stevens prepares for tomorrow's meeting as the one-year anniversary of the sub-prime crisis approaches.
2008-08-03 07:00:00 -
Banks in grab to fatten profits (The Australian)
THE banks have used tightening credit conditions to increase their profit margins at the expense of customers.
2008-08-03 07:00:00 -
Want a cut-rate Shore condo? (The Record)
Gary Papa began building the Marina Bay condos in Wildwood in 2005, convinced that there would be plenty of buyers for a luxury complex overlooking the Intracoastal Waterway. Soon he had sales contracts on many of the three-bedroom condos, which started at $495,000.
2008-08-03 08:09:45 -
Farmers ask Arroyo for support services (Sun Star)
THE Negros Farmers Council (NFC) has called on President Gloria Macapagal-Arroyo to provide support services to Comprehensive Agrarian Reform Program (Carp) beneficiaries rather than pushing on the "farmland as collateral method".
2008-08-03 08:40:38 -
Quebec Mortgage Consumers Intend to Pay off Debt Quickly - CNW Group
OTTAWA, March 20 /CNW Telbec/ - Canada Mortgage and Housing Corporation's (CMHC) 2007 Mortgage Consumer Survey shows that 76 per cent of Quebecers who recently purchased a home intend to pay off their mortgage as quickly as possible, and 65 per cent ...
2008-06-20 05:59:00 -
Foreclosure crisis going to get worse before it gets better - Arlington Heights Daily Herald
Government officials and homeowners are hunkering down. If the foreclosure crisis is bad now, the increasing trend of court filings indicates the problem will become much worse, experts say. The storm has been brewing for at least the last five years ...
2008-02-22 05:32:00