Mortgage and Financial News From 2007-10-26 Page 3

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  • Report: Foreclosures will hurt real estate values

    Newsday - Among the measures Schumer advocates are increasing funding to foreclosure prevention counselors, encouraging lenders to modify terms or refinance those struggling to pay, increasing the Federal Housing Administration's ability to refinance subprime ...
    2007-10-26 10:09:00

  • Housing bailout may not be viable

    Winston-Salem Journal - ... who represents North Carolina’s 10th District, warned at a House hearing Wednesday that Frank’s proposed bill would “push us into a housing recession” because lenders would face new restrictions on their ability to help borrowers refinance. ...
    2007-10-26 08:39:00

  • Mortgage-aid effort starts slowly

    Boston Herald - But more than three months later the program has yet to close its first loan. Activists have praised the effort, which uses a mix of MassHousing bond financing and money pledged by a federally chartered mortgage bank to refinance high-interest ...
    2007-10-26 09:01:00

  • Countrywide projects return to profit

    MSN MoneyCentral - Countrywide, for its part, this week offered to refinance or modify $16 billion of adjustable-rate mortgages to help borrowers struggling to make payments as rates reset. Mozilo also said the company was cooperating with an informal U.S ...
    2007-10-26 02:20:00

  • Riviera Tool Company Announces Foreclosure of Assets

    MSN MoneyCentral - Discussions between the Company and Laurus to extend or refinance the Company's existing credit agreement were unsuccessful. Pursuant to the foreclosure proceedings, in accordance with the Uniform Commercial Code, the Company was released from ...
    2007-10-26 02:56:00

  • Jackson, Bernanke to Discuss Mortgage Assistance (Update1)

    Bloomberg - Taylor said Jackson and the NCRC will talk to Bernanke about launching a fund to help struggling homeowners refinance mortgages and prevent foreclosures. Jackson also will also speak with Bernanke about ``the inappropriate application of subprime by ...
    2007-10-26 04:07:00

  • Fitch Rates Lorain County, Ohio's $11.6MM Rfdg LTGOs 'AA'; Outlook ...

    Forbes - Proceeds will refinance outstanding debt. In addition, Fitch affirms the 'AA' rating on approximately $43 million of the county's outstanding GOs. The Rating Outlook is Stable. The 'AA' rating reflects the county's growing tax base with continued ...
    2007-10-26 04:14:00

  • LabCorp takes out $1B credit line (bizjournals.com via Yahoo! Finance)

    LabCorp has taken out a $1 billion, five-year credit line to refinance its debt, pay down expenses and finance future acquisitions.
    2007-10-26 12:51:19

  • New Ideas In Congress, But Not All Have Traction (Washington Post)

    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 or to refinance.
    2007-10-26 02:25:06

  • Stock market basking in the glory of strong earnings

    Best Syndication - The strong buoyancy in the corporate sector mainly Information Technology sector also contributed a lot ... RateEmpire provides loan shopping mortgage portal. RateEmpire also provides refinance loan resources to lower your monthly mortgage payments.
    2007-10-23 05:58:00

  • Mortgage default most likely on late-boom loans

    Riverside Press Enterprise - Mortgage default most likely on late-boom loans 10:00 PM PDT on Friday, October 26 ... quarter, were filed in California in the third quarter of 2007, DataQuick Information ... Now, because declining home values makes it harder to refinance, only 45.9 percent ...
    2007-10-25 05:56:00

  • Foreclosures in Bay Area, statewide hit record highs in 3rd quarter

    San Francisco Gate - ... than a year ago, according to DataQuick Information ... loans often reset sharply higher, so monthly mortgage payments increase by hundreds of dollars. At the same time, home prices have stagnated or fallen, so struggling homeowners cannot refinance ...
    2007-10-25 05:56:00

  • Fitch Downgrades 4 Classes of GMAC 1998-C1

    PR Inside - ... downgrades and assigns distressed recovery ratings to GMAC's Commercial Mortgage ... The loan was modified during bankruptcy to allow for the sale or refinance of the ... For more information on Distressed Recovery ratings, see the full report ('Structured ...
    2007-10-26 11:57:00

  • John B. Sanfilippo & Son, Inc. Refinancing Update

    MSN MoneyCentral - ... letter from a new lender to refinance the Company's Bank Credit Facility and has applied for a mortgage from a new lender to refinance ... also markets and distributes a diverse product line of other food and snack items. Contact Information: John ...
    2007-10-25 02:21:00

  • Countrywide Financial Reports Their First Quarterly Loss in 25 Years (Builder Online)

    Countrywide Financial Corp., the nation's largest mortgage lender and easily the most recognizable company involved in the nation's mortgage crisis, reported a loss of more than $1 billion in the third quarter.
    2007-10-26 02:39:11

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