Mortgage and Financial News From 2007-9-1 Page 16

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• In brief: Van offers free spaying, neutering this month

  El Paso Times - Reverse mortgages will be the topic of discussion at the next Northeast El Paso Civic Association meeting. The association will meet at 7 p.m. Sept. 13 in the community room of the Trans Mountain Apartments, 5317 Transmountain.ÊMartha and Lud Bezemek ...
  2007-08-31 01:22:00

• Stocks End Up After Bernanke, Bush Speak

  Newsday - The major indexes fluctuated but by midday extended their gains after President Bush spoke about details of a plan to help borrowers facing trouble paying their mortgages. "You've got all the speeches working for the market here," said Michael ...
  2007-08-31 08:32:00

• U.S. money has nothing behind it

  Coshocton Tribune - The theft by deception of the U.S. finances needs immediate remedy given the fact that foreclosures of homes are occurring at a rapid rate. Reverse mortgages might be all right for those 62 or older, but a lump sum pay out from Social Security would ...
  2007-08-31 09:33:00

• Pro Bono Project Helps Seniors With a Taxing Problem

  Law.com - In addition to what Wilson called "cleaning up legal messes" for low-income pro bono clients -- those at 200 percent of the federal poverty income level -- the project finds low-interest loan opportunities or reverse mortgages through the nonprofit ...
  2007-09-01 03:05:00

• Art Loans Get Hung Up

  Wall Street Journal - Some loans are like reverse mortgages, letting borrowers receive monthly payments against the value of their art, rather than selling it outright and taking a capital-gains tax hit. Other lenders essentially act as high-end pawnbrokers, taking ...
  2007-09-01 03:48:00

• Japanese Stocks Advance; Sony, Exporters Climb on Weaker Yen (Bloomberg.com)

  Aug. 31 (Bloomberg) -- Japanese stocks rose, helping the Nikkei 225 Stock Average reverse a decline this week, after the yen weakened and the government forecast a pickup in industrial production.
  2007-08-31 05:20:07

• Help offered to Lifestyle Security clients (Scoop.co.nz)

  Westpac New Zealand says holders of reverse equity mortgages with Lifestyle Security, part of Property Finance which has been placed in receivership, will have all upfront fees waived if they apply to refinance with Westpac reverse equity mortgage.
  2007-08-31 04:39:17

• Hampstead library news (The Rockingham News)

  Stephanie Williams, a reverse mortgage consultant, will give an overview of reverse mortgages and answer questions about them on Wednesday, Sept. 26, at 7 p.m. This program will be of interest to seniors. The presentation is free and refreshments will be...
  2007-08-31 10:12:21

• U.S. money has nothing behind it (Coshocton Tribune)

  The theft by deception of the U.S. finances needs immediate remedy given the fact that foreclosures of homes are occurring at a rapid rate. Reverse mortgages might be all right for those 62 or older, but a lump sum pay out from Social Security would be a better solution.
  2007-08-31 12:12:51

• HSBC left with £800m hangover after record sale of its Canary Wharf ...

  Times Online - The bank had hoped to refinance its loan through a securitisation this autumn, reducing its financial risk to the building in the process. However, HSBC, the world’s third-largest bank, has been forced to rethink its options on the loan made out to ...
  2007-08-31 08:17:00

• Bernanke fuels hope of interest rate cut

  Financial Times - Bush announced measures to help struggling homeowners refinance mortgages through an expansion of the Federal Housing Administration and tax changes. But Mr Bush insisted there would be no government bail-out to solve the subprime mortgage crisis. ...
  2007-09-01 02:01:00

• Fund bailed out for Four Seasons backer

  MSN MoneyCentral - Barclays Capital, the bank's investment banking arm, said Aug. 31 that it will provide a loan to refinance the Cairn fund's asset-backed commercial paper as it matures. Without the Barclays' loan, the fund would have had to sell some of its ...
  2007-09-01 12:14:00

• Bush says he'll come to homeowners' aid

  Los Angeles Times - Bush also said that he would seek to temporarily change a provision of the tax code that now penalizes homeowners who refinance their mortgages to reduce the size of their loan payments or who lose their houses to foreclosure. In an example cited by ...
  2007-08-31 10:40:00

• Bush offers help to troubled homeowners

  CNN Money - That may take the form of expanding the pool of borrowers who can apply to the FHA to refinance their loans. The president wants to work with Congress to temporarily suspend the tax liability that can take effect when borrowers lose their homes ...
  2007-08-31 08:32:00

• Bush mortgage plan cheers stocks

  Reuters - Bush set out measures to help homeowners with subprime mortgages refinance into new loans, but warned that the government's job was not to bail out speculators. Bush's comments were in concert with remarks earlier by Federal Reserve Chairman Ben ...
  2007-08-31 11:45:00

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