Mortgage and Financial News From 2008-1-15 Page 28

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  • Housing Market Down 13 Percent From Year Ago (KGTV San Diego)

    San Diego County's median home price last month plunged 13 percent from year ago levels.
    2008-01-15 06:59:58

  • 40-year mortgage a route to lower mortgage payment (Reno Gazette-Journal)

    There is a relatively new option if you are looking for a lower monthly mortgage payment. A recent article described interest-only mortgage loan programs as one way to lower your payment. A 40-year mortgage is another one.
    2008-01-15 11:14:04

  • West Coast Bancorp Reports Full-Year Net Income of $17 Million (PR Newswire via Yahoo! Finance)

    West Coast Bancorp today announced a quarterly loss of $7.6 million or per diluted share for the fourth quarter of 2007, compared to fourth quarter 2006 earnings of $7.7 million or $.48 per diluted share.
    2008-01-15 03:23:00

  • SoCal median home price plummets

    BusinessWeek - December's median price dropped 2.4 percent from the November figure of $435,000. Home sales in the region, one of the hardest hit in the nation by the mortgage crisis, also slipped compared to December 2006, dropping 45.3 percent to 13,240 -- the ...
    2008-01-15 11:22:00

  • Fixed-rate mortgages lure back buyers

    BusinessWeek - Consumers are moving back to traditional fixed-rate home loans, as loans with discounted introductory rates have become less of a bargain, mortgage company Freddie Mac said Tuesday. The government-sponsored mortgage finance company said that as ...
    2008-01-15 01:45:00

  • S&P Changes Assumptions for Mortgage Bonds, to Boost Downgrades

    Bloomberg - ... Standard & Poor's is changing the assumptions it uses when assessing U.S. residential mortgage bonds outstanding, a step that will likely lead to more downgrades. ``These revisions reflect the growing economic consensus that U.S. home ...
    2008-01-15 02:35:00

  • Street Prays For Better Tomorrow

    Forbes - ... rate cut comes as trading in the first few weeks of 2008 has been hampered by continuing fallout from the subprime mortgage ... Garrison Keillor: Misanthrope David A. Andelman Back home in Lake Wobegon, where the mood has turned somber. ...
    2008-01-15 03:04:00

  • Asian Stocks Fall in U.S. on Citigroup Loss, Recession Concerns

    Bloomberg - Mitsubishi UFJ Financial Group Inc. may pace declines by lenders after Citigroup, the largest U.S. bank, cut its dividend by 41 percent and wrote off $18 billion for mortgage defaults. Samsung Electronics Co. and Taiwan Semiconductor ...
    2008-01-15 03:40:00

  • 'Strong three-man race' in Michigan

    Newsday - Michigan's highest-in-the-nation unemployment rate and ballooning home-mortgage foreclosures have forced the candidates to tout their economic remedies. This weekend, Romney and McCain sparred over who would best be able to address the state's ...
    2008-01-15 11:01:00

  • Citigroup Posts Record Loss on $18 Billion Writedown (Update6)

    Bloomberg - Jan. 15 (Bloomberg) -- Citigroup Inc. posted the biggest loss in the bank's 196-year history as surging defaults on home loans forced it to write down the value of subprime-mortgage investments by $18 billion. The fourth-quarter net loss of $9.83 ...
    2008-01-15 01:31:00

  • IndyMac cutting work force: 'Painful' 24%

    CNN Money - LOS ANGELES (AP) -- Mortgage lender IndyMac Bancorp said Tuesday it will slash its work force by 24 percent, laying off 2,403 employees in a bid to cut costs as it tries to weather the worsening housing slump and sagging demand for home loans. The ...
    2008-01-15 03:26:00

  • US mortgage lender IndyMac slashes 2,403 jobs

    Guardian Unlimited - NEW YORK, Jan 15 (Reuters) - IndyMac Bancorp Inc , one of the largest U.S. mortgage lenders, said on Tuesday it is cutting 2,403 jobs, or 24 percent of its workforce, to cope with falling demand for home loans as the nation's housing slump deepens ...
    2008-01-15 04:01:00

  • Spanish holiday home dream fades for Britons

    Daily Telegraph - Fewer Brits are splashing out on holiday homes in the sun as higher mortgage repayments and concerns about the economy bite. The trend, which is further evidence that Brits are reining in their spending habits, emerged when Taylor Wimpey gave a ...
    2008-01-15 03:33:00

  • Federal Home Loan Bank of New York Selects Leading Collateral ...

    Forbes - The HLB is part of the congressionally chartered, nationwide Federal Home Loan Bank System which was created in 1932 to provide a flexible credit liquidity source for member community lenders engaged in home mortgage and neighborhood lending. The HLB ...
    2008-01-15 07:33:00

  • Records needed for tax preparation

    Miami Herald - ... dividend or interest paid to you in 2007 as well as any refund, credit or offset of state and local taxes. -Receipts indicating state and local taxes, real estate taxes and personal property taxes you paid in 2007. -Form 1098 showing 2007 home mortgage ...
    2008-01-15 03:11:00

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