Thursday, April 30, 2009

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Slump, Debt Dashed Bid to Turn Around a US Icon
Wall Street Journal - USA
Chrysler executives and employees were throwing a daylong party to celebrate a just-signed deal that gave the stalwart US auto maker a new majority owner, ...
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Y-stone Club owner has personal debts of $150M
The Associated Press
She declared personal bankruptcy after a federal judge in Colorado issued a warrant for her arrest following her failure to pay back a $13.2 million loan ...
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Here is the latest Montana news from The Associated Press ...
KXMC - Minot,ND,USA
... owner Edra Blixseth is more than $150 million in debt, with most of her many houses, cars and other belongings put up as collateral on overdue loans. ...
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Real: Dealing with second home mortgages
Scripps News - Washington,DC,USA
"What lenders may say is: 'I'm not going to take a $50000 loss; (the second-home owner) has to contribute $10000 out of their other assets,'" Nery says. ...
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CREDIT MARKETS: Corporates Unbowed By Chrysler Restructuring
Wall Street Journal - USA
Freddie Mac said refinancing of home loans in the first quarter reduced mortgage payments by $2.5 billion. About half of the borrowers who refinanced saw ...
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BREAKING: Feds charge Charter Homes owner, others
Indianapolis Business Journal - Indianapolis,IN,USA
Lenders included Argent Mortgage and an affiliate of Countrywide Home Loans. No payments were made on the mortgages and the lenders lost the entire loan ...
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Trial to pin blame in fall of resort for ultrarich | KXNet.com ...
KXMC - Minot,ND,USA
The money came from a $375 million loan arranged by Credit Suisse. Tim Blixseth says Credit Suisse told him that other owners were taking "distributions" ...
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Foreclosure filings in record jump
CNNMoney.com - USA
"I expect that these numbers will continue to increase as servicers work with the Obama Administration to implement its Homeowner Affordability and ...
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PRACTICE MANAGEMENT: Investors Tap Once-Taboo Sources of Cash
Wall Street Journal - USA
Spada, a principal at Summit Financial Resources Inc. in Parsippany, NJ, says a number of his clients have taken out reverse mortgages, in which a homeowner ...
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Rules set to cut off mortgage originators from appraisers this week
Seattle Post Intelligencer - USA
By AUBREY COHEN Most people who buy a home know they pay to have it appraised but don't know why and never see the resulting appraisal report. ...
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Former owner David Sullivan agrees loan deal with Daily Sport ...
guardian.co.uk - UK
... owner David Sullivan and Gold Group International have come to the rescue of the paper's beleaguered publisher, Sport Media Group, agreeing to loan it ...
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SUSAN TOMPOR
Detroit Free Press - United States
Also, the homeowner must continue to make monthly payments. The plan is limited to primary residences and applies only to first-lien loans. ...
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Wednesday, April 29, 2009

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First-time buyers find deals, help perk up house sales
USA Today - USA
For 3% down, they got the foreclosed home in Stratford, Conn., with three bedrooms and two baths for $213000 and a fixed loan at a 5.5% interest rate. ...
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A Short Sale May Not Mean You're Home Free
Wall Street Journal - USA
"If there isn't a financial hardship ... that's where the investor or mortgage insurer will go after the homeowner for more," says David Knight, ...
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St. Paul looks for every day heros for home program
KSTP.com - Saint Paul,MN,USA
There are no monthly payments and zero percent interest on the loan and is repayable at the time the homeowner sells.
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Quaint Oak Bancorp, Inc. Announces First Quarter Earnings
MarketWatch (press release) - USA
... 2009 include two one-to-four family owner occupied residential loans, two commercial real estate loans and one home equity loan and all are generally ...
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NHL now operates Coyotes
AZ Central.com - AZ,USA
25, the day after the NHL agreed to loan the team an unspecified amount. As part of the loan agreement, the league had the right to take over the franchise ...
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ProPublica
Foreclosure Crisis: The Gov't Response, Decoded
ProPublica - New York,NY,USA
The borrower must also pass a "value test" – this makes sure that the outcome of the loan workout won't cost the owner of the loan more than simply ...
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NewAlliance Bancshares, Inc. Q1 2009 Earnings Call Transcript
Seeking Alpha - New York,NY,USA
Asset quality remained fairly stable as our loan loss provision at $4.1 million for the quarter was consistent with the prior three quarters as were ...
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Trustmark Corporation Q1 2009 Earnings Call Transcript
Seeking Alpha - New York,NY,USA
Only other change in foreclosed was one $2.7 million land loan on the Gulf Coast in Biloxi and our Mississippi portfolios variable lands, ...
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Nickels anounces Seattle $145 million housing levy proposal
Seattle Post Intelligencer - USA
The expiring levy cost the average home owner about $49 a year. Nickels acknowledged the awkwardness of asking for a substantial tax increase during a ...
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Investment Firm Owner Cosmo Pleads Not Guilty To Fraud Charges
NASDAQ - New York,New York,USA
The judge set bail at $750000, to be secured in part by his parents' home in Wantagh, his sister and brother-in-law's home in Massapequa, and a friend's ...
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Nurido
Home Equity Loan Or Home Equity Line Of Credit
Nurido - Steyr,Austria
With home equity loan, a homeowner can apply for one with or without an existing home loan. Although home equity loan sounds like a second mortgage, ...
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NAACP-Supported Homeowner Mortgage Rescue Restructuring Bill ...
NAACP (press release) - Baltimore,MD,USA
In 2006 and 2007, at least half of all the home loans sold to African-Americans and at least 40% of all the home loans that Latinos received where subprime. ...
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Homeowner faces foreclosure after interest-only loan
89.3 KPCC - CA,USA
Interest-only mortgages allowed people to buy more of a home than they could afford with a traditional loan. But some of those loans had adjustable interest ...
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Program Revision Should Help With Foreclosures
bankingMyway.com - Fort Atkinson,WI,USA
A second mortgage is any loan secured by the property but subordinate to the first mortgage. If the homeowner defaults, the lender on the first mortgage ...
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How to buy a home in 2009
Credit.com News - San Francisco,California,USA
Additionally, lenders – particularly subprime lenders – relaxed their standards so much that virtually anyone could get a loan. ...
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Banks squeeze home owners to save profits
Brisbane Times - Brisbane,Queensland,Australia
The bank's home loan customers have already felt the effect of its latest view on interest rates. NAB withheld all of the most recent 0.25 percentage point ...
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Homeowner Threatened By Foreclosure Is Stonewalled
Mosnar Communications Inc Blog - Atlanta,GA,USA
Any homeowner who has a problem getting a lender to respond to a loan modification request can try another tactic that is sure to get their attention. ...
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Foreclosure Prevention Plan Expanded to 2nd Mortgages
Washington Post - United States
Only one homeowner has received a government-backed loan under the program so far. Now, lenders will receive $2500 to refinance a borrower into Hope for ...
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Tuesday, April 28, 2009

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Foreclosure Prevention Saved Minnesota Approximately $300 Million ...
PR Newswire (press release) - New York,NY,USA
2008 Foreclosure Counseling Report analyzes data collected from owner-occupied home owners who received foreclosure counseling from the Minnesota Home ...
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UAW Goes From Rivetheads to Owners in Detroit
BusinessWeek - USA
Ford remains the only US automaker that has neither taken US Treasury loans, nor had to give the union equity in the company; though that could change by ...
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NHL loans Coyotes cash
The Associated Press
The loan terms give the NHL more control over the future of the struggling Coyotes, including the possible relocation of the team. The NHL and team owner ...
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Bloomington offers renovation loans to lure home buyers
Minneapolis Star Tribune - Minneapolis,MN,USA
"They'll walk through with the homeowner to develop a work list for rehab work," Hartman said. "The homeowner goes out and gets bids, at least two, ...
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Why Get A Home Equity Loan?
Pressemeldungen.at (Pressemitteilung) - Wien,Austria
In many cases, when the reason for taking out a home equity loan is to pay for home improvements, the homeowner applies for a home equity line of credit ...
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Obama expands housing help to include second mortgages
McClatchy Washington Bureau - Washington,DC,USA
Breaking new ground, the administration is also offering incentives to second lienholders to extinguish some loans. If a homeowner is 180 days late on his ...
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Attorneys Warn Of Homeowner Scams
KTUL - Tulsa,OK,USA
Sheppherd says he wanted to add three bedrooms to his home. He wanted a 25-thousand dollar loan, but says he was pressured and now owes more than ...
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Tips For Avoiding Foreclosure
Ruralnorthwest.com - Bonners Ferry,ID,USA
The loan amount is a percentage of the home's value determined by the age of the youngest homeowner. The loan does not have to be repaid until the last ...
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Ex-American Home CEO settles with SEC for $2.45M
The Associated Press
The two executives also deceived investors about the company's financial condition and the riskiness of the home loans it made, according to the agency. ...
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Rejected? Call your bank again for a loan modification
Newsday - Long Island,NY,USA
"They might have been denied last year, but under the new guidelines, it'sa whole new world," said Joan LaFemina, manager of the homeowner services program ...
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Second-Mortgage Holders Are Target of Obama Administration Plan
Bloomberg - USA
Under the new plan, second liens will be adjusted automatically when a homeowner's primary mortgage is altered through the federal program, ...
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Daimler gives up stake in Chrysler
The Detroit News - Detroit,MI,USA
Chrysler LLC's former owner Daimler AG agreed Monday to give up its final 19.9 percent share in the Auburn Hills automaker, ticking off yet another ...
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Feds Charge Metro Dream Homes Officers
Washington Post - United States
In exchange, the program promised to make the homeowner's future monthly mortgage payments, and pay off the homeowner's mortgage within five to seven years. ...
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Obama to Unveil Incentives for Mortgage Servicers
Wall Street Journal - USA
Such banks stand to gain from modifying the first mortgage because the second mortgage is more likely to be repaid once the homeowner is saved from ...
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SBA Lending Activity Plummets
San Diego Business Journal - CA,USA
Biosilo Foods, a San Diego maker of food products, bucked the trend and obtained a $50000 loan from CDC through the SBA's micro-loan program. Owner Keith ...
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Monday, April 27, 2009

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UAW Would Own Majority Of Chrysler, Source Says
Washington Post - United States
"If it takes company stock as a part owner in the company, it would be bargaining against itself," he said. "It can never act as adversarial in that ...
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Pontiac runs out of gas
Milwaukee Journal Sentinel - Milwaukee,WI,USA
The state is home to 137 GM dealers, and if Wisconsin takes a hit proportional to what GM has in store nationally, 60 state dealers could be gone by the end ...
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Peer-to-Peer Lender Relaunched
Wall Street Journal - USA
... of Forrester Research Inc., who estimates that about 2% of self-employed business owners have applied for a peer-to-peer loan during the past 12 months. ...
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US Tries to Broker Sale Of Chrysler's Loan Arm
Washington Post - United States
Dale Early, owner of Deerbrook Forest Chrysler and Jeep in Kingwood, Tex., said that close to 70 percent of the vehicles on his lot are financed through ...
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Chrysler gets labor deals in fight for survival
The Associated Press
He also said Chrysler owner Cerberus Capital Management is working with former owner Daimler AG to divest itself of a 19.9 percent stake in Chrysler. ...
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State Senate may help home owners fight foreclosure
The Oregonian - OregonLive.com - Portland,OR,USA
If the bill passes, home owners could request a mediation session after they've missed mortgage payments and defaulted on their loan. ...
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Busted: Alleged $70M mortgage fraud Ponzi scheme
Business Gazette - Gaithersburg,MD,USA
The program promised to make the homeowner's future monthly mortgage payments, supposedly paying off the mortgage within seven years. ...
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In a lean year, Legislature's accomplishments few
Seattle Post Intelligencer - USA
-HOMEOWNER PROTECTIONS: For years now the Legislature has considered bills to protect homeowners against shoddy home construction, and for years that effort ...
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How Ken Griffin would spend your money
Reuters - USA
This should be easier to get through Congress than loan-forebearance schemes or more bank bailouts, since everybody wins: home-owners see the value of their ...
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Confessions of an appraiser
Boston Globe - United States
Appraisers, here is your chance. Let's hear from you this week. Home owners thinking of refinancing; let's hear from you, too.
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Water therapy puts injured dogs back in the swim
Seattle Post Intelligencer - USA
She has to travel more than 20 miles roundtrip from her home in Bremerton to use the pool, but figures she's lucky. Nowhere on the Kitsap Peninsula was ...
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Louisville awards nearly $315000 in small business loans
Bizjournals.com - Charlotte,NC,USA
The largest loan, $150000, was awarded to AD Porter and Sons Funeral Home owner Woodford Porter Jr. The money will help fund the startup of a new funeral ...
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Boston Globe
Revere, nonprofit aim to take, renovate abandoned houses
Boston Globe - United States
City officials issued several notices to the owner and mortgage companies that hold loans for the property to correct code violations, but "they failed to ...
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Five Charged in $70 Million 'Dream Home' Mortgage Fraud Scheme
PR Newswire (press release) - New York,NY,USA
"These types of crimes drive home owners into foreclosure, erode the integrity of our tax system and threaten the financial health of our communities. ...
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BofA to rename Countrywide brand
Financial Times - London,England,UK
The bank is renaming Countrywide's operations as part of Bank of America Home Loans, ending four decades of a brand established by Angelo Mozilo, ...
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Non Homeowner Loans-Everybody Got a Right to a Loan Product
TMCnet - USA
The remedy is applying for a Non-homeowner loan. This is a product the loan market came up with to help eradicate finance hurdles for the non-homeowners. ...
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Loans rescue small Chicago businesses
ABS CBN News - Philippines
It makes it easier for Jimenez and other small business owners to get a loan. Reports from Don Tagala, ABS-CBN North America News Bureau.
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Tax deduction on home loan
Express Estates - New Delhi,India
I purchased a house in December 2008 for which I have taken a home loan for an amount of Rs 30 lakhs from my bank. The house is meant for self-occupation ...
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No rush, as First Home Buyers Grant nears deadline
ABC Online - Australia
KAREN KAKAS: Our view is that the First Home Owners Grant has been probably one of the most successful part of the stimulus. It's ensured a construction ...
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Reach out to lender if home is at risk
Seattle Times - United States
"The loan-modification folks and the foreclosure folks seem to be working against each other." Even when a homeowner reaches the person authorized to ...
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Homeowners find gold by going green
Calgary Herald - AB, Canada
For homeowner Mark Raes, when the time came to replace a 25-year-old furnace in his recently purchased home in Toronto, he decided to get an energy audit ...
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Sunday, April 26, 2009

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Boston Globe
Repair businesses thrive in downturn
Boston Globe - United States
The Brookses took out a construction loan to finance the $140000 project and expect to save $300000 by keeping their existing home. ...
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Federal government's Making Home Affordable program may help those ...
Dallas Morning News - Dallas,TX,USA
The result is that the homeowner's payment rises. Government regulators said a loan modification could also result in a higher mortgage payment if the loan ...
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Navy sees more interest in mortgage refinancing
Stars and Stripes - Washington,DC,USA
While conditions like income and ability to pay still influence standard loan structures, a homeowner looking to borrow 90 percent of the home's market ...
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Credit.com News
Income problems cited in home loan defaults
Credit.com News - San Francisco,California,USA
... 24000 home loans during the fourth quarter of 2008, according to the report, which sought to update Congress on the progress of the FHFA's homeowner ...
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A new look for home, sweet home
Buffalo News - NY, United States
Buscaglia also said his bank is the nation's leader in rehabilitation loans, the kind that allow the homeowner to get a mortgage based on what the home will ...
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Peter Boutell, Lending a Hand: Home Valuation Code of Conduct ...
Santa Cruz Sentinel - Santa Cruz,CA,USA
Keep in mind, though, FHA allows a homeowner to refinance up to a loan-to-value ratio of 95 percent. It is not only the appraised value of a home that can ...
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EXCLUSIVE: Lawyers say lenders set stage to collect on 'short sales'
North County Times - Californian - Escondido,CA,USA
Therefore, a homeowner late on payments on a purchase money loan cannot face a lawsuit ---- even if the owner put no money down. But all bets are off if the ...
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Local foreclosures soar threefold in two years
Seattle Times - United States
Typically, if a homeowner gets into financial trouble and can't pay the mortgage, the bank starts a foreclosure, a process that can end with a property ...
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Saturday, April 25, 2009

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First-timers, it's time to buy
Reading Eagle - Reading,PA,USA
31, 2009 are eligible for the credit (you must settle on the purchase of a home between Jan. 1, 2009 and Nov. 30, 2009). A first-time homeowner is defined ...
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Agents see movement as buyers find low prices
Milwaukee Journal Sentinel - Milwaukee,WI,USA
An additional 2300 properties are in pre-foreclosure, meaning the homeowner is at least 30 days behind on mortgage payments and facing foreclosure. ...
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The Mercury News Interview: Kenneth Rosen, real estate expert
San Jose Mercury News - CA, USA
One of his missions is to help Californians who are neglected in the federal government's current homeowner assistance plans because of the higher home ...
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New York Times
County Lines Money Lending, the Old-Fashioned Way
New York Times - United States
Indeed, banks got into trouble by being cocksure, thinking they could profitably offer mortgages whether the home buyers could document their income or not. ...
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Two landlords claim to own Visalia woman's rental home
Visalia Times-Delta - Visalia,CA,USA
Ensz always had represented himself as the sole landlord and owner, she said. "He said it was his house," Davison said, seated in a recliner inside her home ...
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Home inspectors enjoy a mini boom
Washington Business Journal - Washington,DC,USA
John Taylor is doing something that few home inspectors have been able to do in recent years: hire more people. The owner of Gainesville-based Acquired Home ...
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Refinance rules causing confusion
Seattle Times - United States
Mortgage brokers and small lenders say they've been left out of a big part of the Obama administration's plan to help borrowers refinance their home loans ...
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Loan help on way to county
The Tennessean - Nashville,TN,USA
If a home owner only picked up $7000 in insurance to cover a damaged roof that was worth $10000, the resident could seek a loan for the other $3000 to ...
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