Mortgage and Financial News From 2008-5-16 Page 4
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Peter G. Miller: Don't feel cheated in condo deal; you bargained, but market changed (San Antonio Express-News/KENS 5)
Q: I negotiated the purchase of an Arizona condo recently and closed about a month ago. Most of the units in the complex are unsold. I happened to be on the Internet the other day and saw that the builder now has reduced the asking price of similar units in the complex by $35,000.
2008-05-16 12:41:57 -
How to Determine if it's Time to Refinance (Richfield Reaper)
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators?
2008-05-16 01:00:13 -
MBA class of '98 proves resilient (USA Today)
USA TODAY published a story about the Olin class of '98 in 2003 on its fifth anniversary and now revisits it on its 10th. Their journey through volatile times and personal crises is a microcosm of what the USA has been through over the decade. There is reason for optimism. While it's too early for the present economic slowdown to play out in their lives, the class of '98 has so far demonstrated ...
2008-05-16 01:07:38 -
Kramer to offer advice to investors (Norwalk Advocate)
Even in a bear market, Hilary Kramer knows a good stock when she sees it. Kramer, finance editor for America Online, and a public speaker and television personality who has appeared on business programs on ABC, CNN, Fox News Channel and CNBC, has focused her career on spotting stock trends.
2008-05-16 03:29:50 -
5 Basic Guidelines for Managing Your Finances (NYTimes.com via Yahoo! Finance)
A new Times columnist offers guidance that can be useful in making just about any financial decision.
2008-05-16 03:37:49 -
FBI spent 2 years tracking fraud case - Idaho Statesman
A federal grand jury Wednesday indicted five people accused of operating a fraudulent construction loan and kickback scheme from 2004 to 2006. Indicted were: Christopher A. Upchurch, owner of Inline Construction LLC in Nampa. Barbara L. Cobos, a loan ...
2008-05-16 12:11:00 -
Senate focuses on mortgage trouble - Legislative Gazette
Senators from both sides of the aisle took steps to save people from having their houses foreclosed upon last week. Early last week, the Senate Banking Committee, chaired by Sen. Hugh Farley, heard testimony from 13 organizations responding to a bill ...
2008-05-16 10:55:00 -
FBI: 200 agents working on mortgage fraud probe - Reuters
WASHINGTON (Reuters) - The FBI has more than 200 agents and 33 task forces addressing mortgage fraud, has more than 1,300 cases under investigation and has targeted 19 large companies, FBI Director Robert Mueller said on Friday. "Clearly, in the last ...
2008-05-16 12:28:00 -
11 indicted in Mass. mortgage fraud scheme - Boston Globe
BOSTON— Eleven people have been indicted in a mortgage fraud scheme that netted at least $1.7 million in profits, federal authorities said Friday. The suspects, including the manager of a real estate firm, loan brokers and attorneys, face various ...
2008-05-16 12:14:00 -
Credit Problems Spreading Beyond Mortgages: FDIC - CNBC
The head of the Federal Deposit Insurance Corp said on Friday that another wave of U.S. credit stress was coming, involving non-mortgage loans. Sheila Bair, in remarks prepared for a Brookings Institution event, said delinquency rates were rising for ...
2008-05-16 10:48:00 -
Housing data mixed, consumer confidence slumps - MSN MoneyCentral
WASHINGTON (Reuters) - Ground-breaking on single-family homes in the United States in April dropped to the slowest pace since 1991 while consumer confidence hit a 28-year trough, showing the economy still on shaky ground. While the government data on ...
2008-05-16 09:00:00 -
Fannie Mae Bows to Pressure on Down Payments, Shares Decline - Bloomberg
May 16 (Bloomberg) -- Fannie Mae , backing down from pressure from homeowner and real estate groups, will allow buyers in markets with falling home prices to purchase houses with 3 percent down payments, potentially increasing the company's risk. The ...
2008-05-16 09:58:00 -
Fannie Mae to Drop Down Payment Rules in Worst Areas (Update3) - Bloomberg
May 16 (Bloomberg) -- Fannie Mae , the largest U.S. mortgage- finance provider, will stop requiring bigger down payments in regions where home prices are dropping, responding to criticism from consumer and industry groups who said the company is ...
2008-05-16 08:10:00 -
Buffett pulls out of RBS insurance sale: report - Reuters
LONDON (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N: Quote , Profile , Research ) has pulled out of the bidding in Royal Bank of Scotland's (RBS.L: Quote , Profile , Research ) 7 billion pound ($13.62 billion) auction of its UK ...
2008-05-16 09:29:00 -
BestWeek: Credit Crunch Clouds Outlook of Hurricane Insurers, Cat Funds (Centre Daily Times)
Turmoil in the credit markets could leave policyholders in limbo if a major hurricane strikes the United States this year, as investors show a limited appetite for capital market offerings designed to raise cash for claims payments, according to a new special report featured in BestWeek U.S./Canada. Meanwhile, the same subprime mortgage crisis that rocked the credit markets raises questions ...
2008-05-16 10:58:58