Mortgage and Financial News From 2008-6-12 Page 17
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Troubled borrowers sue lenders, alleging fraud (Miami Herald)
Some South Florida borrowers who are in default on their home loans aren't waiting around for their lender to begin foreclosure. They have beaten their lender to the courthouse by filing lawsuits that allege the institutions committed fraud and violated federal lending laws by overstating the borrowers' incomes to qualify them for loans, changing the loan terms just before closing, and failing ...
2008-06-12 12:29:09 -
Home sales fell 30% in May (Baltimore Sun)
Average price rose in Baltimore area Local home sales continued their plunge in May, dropping 30 percent from a year earlier as the average price ticked up modestly.
2008-06-12 12:36:00 -
Durbin releases his tax returns (Belleville News-Democrat)
Dick Durbin, the Senate's second-highest ranking Democrat in a chamber led by Democrats, is nowhere near the top when it comes to wealth among his fellow senators, according to his latest financial disclosure documents.
2008-06-12 01:07:27 -
Tough love from Bernanke (CNN Money)
Note to investors: Ben Bernanke isn't your best friend anymore.
2008-06-12 01:18:54 -
Second Homes Should Pay Their Own Way (PRWeb)
Second home owners could consider letting their homes to holiday makers to help meet the increasing costs of financing them rather than feeling pressure to sell them in the current housing market says specialist independent mortgage brokers Mortgages for Business. (PRWeb Jun 12, 2008) Read the full story at http://www.prweb.com/releases/2008/06/prweb1017644.htm
2008-06-12 01:25:10 -
When rights go very wrong (The New Statesman)
Over the next few days, millions of private investors will receive a fat wodge of documents from Bradford & Bingley (B&B), Halifax Bank of Scotland (HBOS) and others inviting them to buy new shares at bargain prices. Of course, there is no such thing.
2008-06-12 01:37:27 -
Mortgagers' Dual Roles Clash - Wall Street Journal
Richard Syron, the blunt chief executive of mortgage giant Freddie Mac , often refers to his company and its bigger sibling, Fannie Mae , as "odd ducks." That's for sure. Freddie and Fannie are ungainly hybrids. They are part shareholder-owned profit ...
2008-06-11 08:54:00 -
Asian Stocks Tumble Most in Three Months on Inflation Concerns - Bloomberg
June 12 (Bloomberg) -- Asian stocks fell the most in three months, extending a global rout, on concern surging inflation and credit turmoil will derail growth. Shares in India declined after the central bank unexpectedly raised interest rates ...
2008-06-11 10:56:00 -
UPDATE 1-India's State Bank to review rates on Friday - Reuters
MUMBAI, June 12 (Reuters) - India's top lender, State Bank of India (SBI.BO: Quote , Profile , Research ), will review its interest rates on Friday, its chairman said on Thursday, a day after the central bank raised its key lending rate. Shares in ...
2008-06-11 09:58:00 -
HDFC to review home loan rates by end-June - Reuters India
MUMBAI (Reuters) - Indian mortgage firm Housing Development Finance Corp will take a decision on raising interest rates on home loans by end of this month, its chairman Deepak Parekh said on Thursday. He said there was upward pressure on interest ...
2008-06-11 08:54:00 -
BP Snapshot, SEC Precedent, Market-Cap Gap, Bear's Win: Timshel - Bloomberg
June 12 (Bloomberg) -- BP Plc has provided investors with a snapshot of the world's energy industry that goes far beyond the numbers in its annual statistical review. The release of the data by BP, Europe's second-largest oil producer, coincided with ...
2008-06-11 10:20:00 -
Indian shares fall nearly 3 pct after rate rise - Reuters India
MUMBAI, June 12 (Reuters) - Indian shares fell nearly 3 percent on Thursday after the central bank raised a key lending rate to curb inflation, heightening concern consumer demand would slow down and hurt earnings growth. Lower Asian markets that ...
2008-06-11 10:41:00 -
Citigroup to sell retail Samurai bonds - Forbes
TOKYO, June 12 (Reuters) - Citigroup (nyse: C - news - people ) returned to the Japanese bond market on Thursday after a year of absence, but it is too early to say whether big U.S. banks will soon regain their dominance in the market as many ...
2008-06-11 11:46:00 -
The complicated art of lending money to family - Houston Chronicle
Personal finance columnist Shannon Buggs answers readers' questions about managing money. Q: I want to fund the mortgage on a house my son wants to buy. I don't want to make the money a gift but want to charge him only the lowest interest rate that ...
2008-06-10 05:56:00