Mortgage and Financial News From 2007-10-9 Page 9

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  • Defaults to rise if credit squeeze persists -S&P

    Reuters - Recent turmoil in the credit markets has reduced investor's appetite for risk, limiting the options of struggling companies to refinance, the report said. "The current market correction is refocusing investors on the realities of credit risk and a ...
    2007-10-09 07:45:00

  • Fitch Affirms Transelec's IDRs at 'BBB-'; Outlook Stable

    Forbes - The company issued two local bonds for approximately US$690 million, which were used to refinance a US$210 million local bond and the remaining funds were distributed to Transelec's holding company. These funds were mainly used to pay the US$600 ...
    2007-10-09 09:25:00

  • Rock thrown a new lifeline

    Guardian Unlimited - Next year it must refinance a further £30bn. Today the Bank said in a statement: "Revised facilities have been put in place at the request of Northern Rock. They will allow the company to continue to pursue the full range of its strategic options ...
    2007-10-09 10:44:00

  • Terror-Law End May Hurt Commercial-Mortgage Ratings, Fitch Says

    Bloomberg - Property owners also might be unable to refinance or sell their properties when their current loans come due, Fitch said. ``As we experienced in late 2001, if the casualty risk were transferred to property lenders, fewer lenders would be ...
    2007-10-09 01:07:00

  • Consumers get a look at title insurance prices

    Los Angeles Times - Title insurance is something most people don't need until they sell their house or refinance their mortgage. It's a requirement for any such transaction to be completed, and it protects a homeowner against unforeseen claims on the property. But ...
    2007-10-09 01:21:00

  • Barclays PLC and hedge funds to finance Remy International bankruptcy ...

    CNBC - Plan documents say Barclays is also arranging the $330 million exit financing for Remy, which will be used to pay off the Chapter 11 loan and refinance other secured debt. The arrangement is not unusual in corporate bankruptcies. It means Remy's top ...
    2007-10-09 02:54:00

  • TXU deal to impact Texas customers

    CNBC - The investors plan to borrow $24.5 billion in new debt and refinance old debt to pull off the deal. Consumer advocates say they know who will pay the bill. "This money is ultimately going to be pulled out of ratepayers' pockets over the next few years ...
    2007-10-09 03:16:00

  • Expert: Housing (Denver Daily News)

    The flood of bad news surrounding the real estate industry in recent weeks — from tighter lending requirements to foreclosures from unqualified borrowers looking to refinance expiring adjustable rate mortgages — is not holding true for Denver.
    2007-10-09 11:41:21

  • Advice for First-Time Homebuyers

    Washington Post - With decreased values, it's harder to refinance or sell for a profit, creating an ugly cycle. It makes ... Of course, if you're skeptical, you can always talk to a mortgage broker too. They'll get you information on mortgages from lots of different ...
    2007-10-03 09:11:00

  • VIEW: America’s houses of cards —Joseph Stiglitz

    Daily Times - Some, observing the crash of the sub-prime mortgage market, say, “Don’t worry ... Instead, easy money stimulated the economy by inducing households to refinance ... the loans onto others. (As economists would say, problems of asymmetric information ...
    2007-10-09 02:18:00

  • I'm Looking For...

    ClickOnDetroit.com - ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage ... When you're ready to refinance, Bills.com makes it simple. Just fill out the short information form on the Web site, hit submit and up to four lenders will ...
    2007-10-09 12:45:00

  • Santa Maria couple tells story of trying to reset mortgage rate in ...

    San Luis Obispo Tribune - Santa Maria couple tells story of trying to reset mortgage rate in turbulent ... got the loan in 2005, a broker had assured them they would be able to refinance ... It agreed to modify the loan after “submission of some new information and ...
    2007-10-09 08:06:00

  • If foreclosure is looming, don't rush into bankruptcy (Miami Herald)

    Robert Bruss, who died Sept. 26, wrote this column previously. Q: We are three months behind on our home mortgage payments because of illness and unemployment. The mortgage loan servicer has been very uncooperative when we tried to make partial payments.
    2007-10-09 11:31:01

  • Sink wants Cabinet, not lawmakers, to decide CAT fund rates

    Miami Herald - ... the savings on to their customers. In some cases it has resulted in lower premiums, but many companies haven't lowered rates ... and now the companies should go back to buying more of their backup coverage in that market. "Do we really want to mortgage our ...
    2007-10-09 02:18:00

  • Area residential market 'brutal,' broker says

    Palm Beach Post - Davis, a Palm Beach County native who has been a banker and mortgage broker for 37 years, said this slowdown pales in comparison to the crunch of the early 1980s, when mortgage rates topped 18 percent. He blamed a combination of factors. A speculative ...
    2007-10-09 12:53:00

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