Mortgage and Financial News From 2008-4-9 Page 3
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Citigroup may sell USD 12 bn worth bad loans: US media (New Kerala)
New York, April 9 : US banking firm Citigroup is in negotiations to sell $12 billion worth of bad loans to a group of financial institutions in an effort to reduce the effects of the US credit crisis on its balance sheet, US media reported Wednesday.
2008-04-09 09:57:42 -
More News (Inland Valley Daily Bulletin)
7:30 a.m.: Young people's financial knowledge declining WASHINGTON - Young people's financial know-how has gone from bad to worse.
2008-04-09 10:08:38 -
Number of foreclosures in state expected to rise this year (Great Falls Tribune)
HELENA (AP) — The number of home foreclosures in Montana is expected to rise this year, but the rates still remain lower then the rest of the country, real estate agents and lenders were told.
2008-04-09 10:10:35 -
High School Seniors Get 'F' in Finance (San Francisco Chronicle)
Young people's financial know-how has gone from bad to worse. High school seniors, on average, answered correctly only 48.3 percent of questions about personal finance and economics, according to a nationwide survey released Wednesday by the Federal Reserve....
2008-04-09 10:40:12 -
FHA Expands Mortgage Insurance to Troubled Borrowers (Update1) (Bloomberg.com)
April 9 (Bloomberg) -- The Bush administration is loosening the rules on a federal mortgage insurance program to protect banks from losses on loans that exceed home values in exchange for helping homeowners nearing foreclosure to refinance.
2008-04-09 10:43:21 -
(AFX UK Focus) 2008-04-09 18:20 GMT: High school seniors get 'F' in finance (Interactive Investor)
WASHINGTON (AP) - Young people's financial know-how has gone from bad to worse.
2008-04-09 10:47:38 -
Bernanke and Paulson turn to G-7 for ideas to stem global financial meltdown (Online Journal)
In a recent interview with the New York Times, former Secretary of the Treasury Paul O' Neill, was asked how the problems with subprime mortgages could lead to a financial crisis of global proportions.
2008-04-08 09:33:16 -
Senior Notes (Baltimore Sun)
2008-04-09 12:30:20 -
Home Equity Income Trust Subsidiary Announces New Best Rate Planned Advance Option (CNW Group via Yahoo! Finance)
Home Equity Income Trust's subsidiary, Canadian Home Income Plan Corporation , today announced the availability of a Best Rate Planned Advance Option that affords homeowners aged 60 and older the ability to turn $1,000 of their home equity into tax-free cash on a monthly basis.
2008-04-09 08:00:00 -
(AFX UK Focus) 2008-04-09 16:18 GMT: Financial Freedom's 'SQ2-' servicer quality rating affirmed - Moody's (Interactive Investor)
MUMBAI (Thomson Financial) - Moody's Investors Service has affirmed Financial Freedom Senior Funding Corp.'s servicer quality (SQ) rating of 'SQ2-' as a primary servicer of reverse mortgage loans.
2008-04-09 08:31:24 -
Jackson Hewitt(R) Alerts Homeowners Who Purchased, Refinanced or Made Renovations in 2007 That New Tax Laws May Have a ... (PR Newswire via Yahoo! Finance)
According to Jackson Hewitt Tax Service®, homeowners who either purchased of refinanced their homes in 2007 will find two noteworthy provisions available to them when filing their taxes -- a new deduction for mortgage insurance premiums paid in 2007 and a new rule for mortgage debt that was forgiven last year.
2008-04-09 06:00:00 -
Good old days are gone... but don't tell (The Star)
Even now, here in the United States, if you turn off the radio or television blaring the latest news of financial apocalypse, you can pretend that it's still business as usual.
2008-04-09 06:03:50 -
Federal Housing Administration Housing Stabilization and Homeownership Act (Federal Reserve Board)
Chairman Frank, Ranking Member Bachus, and other members of the Committee, I am pleased to be here today to discuss efforts to address the current problems in the mortgage and housing markets.
2008-04-09 07:08:25 -
US Bank Regulators: More Aid Needed For Homeowners (Nasdaq)
WASHINGTON -(Dow Jones)- U.S. banking regulators said in a resounding voice Wednesday that more needs to be done to address the housing crisis, offering mixed support for an aggressive plan by House lawmakers that would result in lenders taking losses on some existing mortgages.
2008-04-09 07:32:38 -
Japan Approves New Bank Chief (NYTimes.com via Yahoo! Finance)
The vote by Japan’s Parliament ended a long political standoff that had left the bank leaderless at a time of global financial turmoil.
2008-04-09 07:40:31