Mortgage and Financial News From 2007-9-14 Page 7

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• Tax too heavy? Ask for salary redesign

  Rediff.com - Vikas Gandhi answers,  at 2007-09-13 15:59:14 To calculate the exemption amount of House Rent Allowance, you need to consider ... Loan during 2005 and subsequently when I applied for addl loan, they granted same but the entire loan under "Mortgage Loan ...
  2007-09-13 05:34:00

• SNP unveils grand plan - but critics call it 'policy lite'

  Scotsman - ALEX Salmond was accused of failing to deliver on a raft of manifesto promises as he set out the programme for his first year in government yesterday. In a statement to parliament, the new First Minister proposed 11 bills this year, including ...
  2007-09-14 12:46:00

• EU Ministers Back ECB on Credit-Crunch Actions

  CNBC - As they met, Britain revealed its first big casualty of the crunch, mortgage lender Northern Rock, which was obliged to turn ... The risk of mass defaults in the U.S. has prompted banks to curb lending to each other as they strive to calculate exposures ...
  2007-09-14 07:39:00

• Merrill Hints of Credit Woes

  Wall Street Journal - ... they use to value their own holdings are consistent with those used by their lending operations to calculate collateral required of clients. Merrill was a lender to hedge funds operated by Bear Stearns Cos. that were shut down after their mortgage ...
  2007-09-14 04:00:00

• At Wal-Mart, Subway Is Winning Turf War

  Baltimore Sun - By the same token, a McDonald's franchisee may calculate that the investment return from a full-size store is much greater than that from a Wal-Mart satellite unit. Subway, which has more than 21,000 U.S. stores versus about 13,700 for McDonald's ...
  2007-09-13 09:52:00

• Detroit Foreclosures Up 53 Percent in August

  PR.com - ... news when President Bush authorized the Federal Housing Administration to allow anybody with a sub-prime mortgage to refinance. ... Default Research is the national leader in foreclosure research. More information about Default Research can be found at ...
  2007-09-13 11:53:00

• State tackles subprime lending problem

  Portland Business Journal - ... must make sure that no one loses their home because of an unfair loan product or lack of information ... Increase enforcement against misleading advertising aimed at inducing borrowers to refinance. The work group will look at: So-called "mortgage rescue ...
  2007-09-14 10:52:00

• Peter G. Miller: A most timely introduction to the concept of a 'short sale' (San Antonio Express-News)

  Q: I've been in real estate for nearly 20 months. I've passed my ABR designation and completed my required hours for renewing my license. I feel that I'm ready to learn something new. Will you please share information about short sales?
  2007-09-14 03:28:57

• Rates on 30-year mortgages drop to the lowest point in 4 months (The Times of Northwest Indiana)

  WASHINGTON | Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages.
  2007-09-14 02:28:26

• State tackles subprime lending problem (BizJournals)

  Gov. Ted Kulongoski on Friday announced plans to help Oregonians who may be facing mortgage foreclosure due to the recent tightening in the subprime lending market.
  2007-09-14 11:50:00

• Arbor Funds $2M Loan for Apartments in Michigan (Multi-Housing News)

  Mason, Mich.—Arbor Commercial Funding LLC, a wholly owned subsidiary of Arbor Commercial Mortgage LLC, has announced the recent funding of a $2-million loan using Fannie Mae’s DUS 3MaxExpress product to refinance Mason Hills Apartments, a 94-unit complex in Mason, Mich.
  2007-09-14 12:19:49

• Harris Helps Customers with Mortgage Options (PR Newswire via Yahoo! Finance)

  With U.S. Treasury Secretary Henry Paulson calling on financial institutions to work with homeowners facing higher mortgage payments as interest rates reset, Harris announced today it has advice and solutions to help customers weigh their options and make informed choices.
  2007-09-14 12:32:00

• Credit Crunch Hits England Ahead Of Big Week In U.S.

  Forbes - The credit squeeze leaped across the Atlantic Ocean on Friday, just two days before the Federal Reserve is widely expected to cut U.S. intereest rates. England’s fifth-largest mortgage lender, Northern Rock, confirmed Friday that it requested and ...
  2007-09-14 01:51:00

• 30-year rates drop to 6.31%, the lowest level since May 17

  Baltimore Sun - WASHINGTON - Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages. Freddie Mac, the mortgage company, reported yesterday that 30-year, fixed ...
  2007-09-14 12:15:00

• Millions stuck on poor mortgage rates

  This is Money - In some cases, borrowers are paying a whopping 8.19% interest. On a £40,000 mortgage - the average for someone on a standard variable rate (SVR) - it would cost £809 a month on a repayment basis with five years remaining. Those paying an SVR and ...
  2007-09-14 08:14:00

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