Mortgage and Financial News From 2007-8-22 Page 18

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• Mortgage lender First Magnus files Chapter 11 (Stuff)

  First Magnus Financial Corp, one of the largest independent US mortgage lenders, has filed for Chapter 11 bankruptcy protection, the latest home loan provider to collapse as the housing market slumps and credit crisis widens.
  2007-08-22 01:14:52

• Mortgage maneuvers (The Morning Call)

  Seminar for realty agents focuses on housing market in the Lehigh Valley. Will the national mortgage crisis force Lehigh Valley home sellers to drop prices?
  2007-08-22 07:33:56

• Home prices fall for 15th month (Boston Globe)

  Home prices in Massachusetts fell for the 15th straight month in July, and the turmoil in the mortgage market in recent weeks is likely to drive prices down further this year.
  2007-08-22 09:02:08

• As credit tightens, foreclosures plague US (AFP via Yahoo! News)

  Swamped by rising US mortgage interest rates, hundreds of thousands of home buyers are seeing their homes seized by banks in a wrenching drama behind the financial turmoil rocking markets.
  2007-08-22 04:25:56

• Home Foreclosures Skyrocketing (KVEW Kennewick)

  KENNEWICK -- Home foreclosure rates have skyrocketed. Too many home buyers are taking out loans, who can't keep up with the payments. "They're six, seven months behind in their mortgage, and all to often, that's the point of no return," said Gary Sytsma, mortgage banker.
  2007-08-22 12:57:10

• Ratings Firms Scrutinized for Role in Mortgage Mess

  NPR News - That essentially provides a refinance product without going through a refinance." That's important because in areas where home prices have fallen, distressed owners may not qualify for traditional refinancing of their mortgages. The Neighborhood ...
  2007-08-20 12:56:00

• U.S. home foreclosures rise in July

  Providence Business News - ... lending crisis, which has spurred lenders to tighten credit, and the real estate slump that has depressed home values both are exacerbating the problem by making it more difficult for troubled borrowers to refinance, RealtyTrac noted. “Home ...
  2007-08-21 12:55:00

• How FHA Could Help Borrowers

  Wall Street Journal - ... to ease the credit crunch triggered by rising defaults on home loans to borrowers with poor credit. But he said earlier this month that he supports giving the Federal Housing Administration more flexibility to help those facing foreclosure refinance ...
  2007-08-22 02:27:00

• Where to Find the Money to Finance Your Dreams

  Bradford Era - ... out a loan from a family member or friend, charging the start up costs on her credit card, tapping into her retirement funds, or taking out a home equity loan. She ultimately decided on the latter. "I wasn't sure it was the right time to refinance ...
  2007-08-22 03:17:00

• Landry's Offers Summer Special to Bondholders

  CFO.com - At the time, the company said it was trying to refinance the 7.5-percent debt but made no promises for favorable terms ... Despite Crunch, Tribune Board OKs Merger Delta Flys Over CFO for CEO Post CFO Closes in on Corning's Corner Office Home Depot ...
  2007-08-22 06:16:00

• Western National offers emergency loans for home buyers as

  MSN MoneyCentral - The idea is to enable prospective home buyers to meet the timeline established in their purchase agreements and avoid the ... Borrowers may be offered incentives to refinance with Western National after the close of this loan, however, customers may ...
  2007-08-21 11:14:00

• North Sioux Council votes Jenkins off after disciplinary hearing

  Sioux City Journal - Asked Menken to falsely represent the end date of his brother-in-law Craig Carroll's employment in a letter to a financial institution in support of a home refinance application; -- Requested further pay for Carroll after Carroll had signed a ...
  2007-08-22 06:38:00

• Police: Man Beaten With Baseball Bat In Home (Local 10 Miami)

  MIAMI -- Miami-Dade police are investigating a burglary in Kendall, where a homeowner was beaten with a baseball bat. Investigators said the owner of the home at 8235 Southwest 107th Ave. came home around 3:30 p.m. Tuesday to find a man inside the town house.
  2007-08-21 10:34:59

• Armed Men Invade Home (KSAT San Antonio)

  SAN ANTONIO -- Police said they're searching for two men who forced their way into a home Tuesday night on the city's East Side. Police said the men barged into a man's room around 6:30 p.m. while he was asleep and demanded he give them their belongings in the 1200 block of Paso Hondo.
  2007-08-22 03:44:15

• Home Foreclosures Almost Double in July as Rates Rise (Update3) (Bloomberg.com)

  Aug. 21 (Bloomberg) -- U.S. homes facing foreclosure almost doubled in July as property owners with adjustable-rate mortgages saw their payments rise and were unable to refinance because of the subprime crisis, RealtyTrac Inc. said.
  2007-08-21 06:29:47

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