Mortgage and Financial News From 2007-12-6 Page 10

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  • Deal reached with mortgage industry for 5-year rate freeze

    Minneapolis Star Tribune - Deal reached with mortgage industry for 5-year rate freeze By MARTIN CRUTSINGER ... relief from a plan negotiated by the Bush administration to freeze interest rates ... Such a rebound would enable homeowners to refinance their current adjustable rate ...
    2007-12-06 01:57:00

  • U.S. rates on 30-year mortgages drop to lowest point in over two years ...

    Xinhua News Agency - WASHINGTON, Dec. 6 (Xinhua) -- Rates on 30-year mortgages across the United ... averaged 5.96 percent, down from 6.10 percent last week, according to the mortgage ... The current housing slump, the worst in two decades, is expected to continue amid a ...
    2007-12-06 04:56:00

  • Bush Unveils Plan to Freeze Some Mortgage Rates (Update2)

    Bloomberg - Bush Unveils Plan to Freeze Some Mortgage Rates (Update2) By Roger Runningen and Alison Vekshin Dec. 6 (Bloomberg) -- President ... intended to help borrowers with troubled credit histories who are able to afford their existing mortgages and are current ...
    2007-12-06 03:23:00

  • Bush's mortgage relief plan

    News.com.au - The plan brokered by US Treasury officials with major industry participants would help struggling homeowners re-finance subprime adjustable-rate loans or freeze the current interest rates for five years, Mr Bush said. The program was unveiled amid ...
    2007-12-06 04:27:00

  • Bush promotes mortgage rate freeze, efforts to combat rising wave of ...

    International Herald Tribune - ... be able to qualify for a program announced Thursday by President Bush that will freeze rates on certain subprime mortgages for five years. His mortgage is ... A rebound in sales and home prices will allow struggling homeowners to switch their current ...
    2007-12-06 04:56:00

  • NeighborWorks(R) America Applauds U.S. Treasury's Latest Effort to ...

    Forbes - There are many ways to assist homeowners facing financial difficulties. Loan modifications and interest rate freezes for homeowners who are current on their mortgages and will need help once their mortgage interest rates reset is just one way to help ...
    2007-12-06 10:51:00

  • White House releases details of program to freeze mortgage rates

    Detroit Free Press - ... to freeze mortgage rates ... be kept in the current mortgage, receive the five-year extension or go to a case-by-case analysis. He said his business sense tells him at least a majority of the number – 300,000 – will end up seeing their rates ...
    2007-12-06 03:16:00

  • Bush Announces Mortgage Agreement

    New York Times - ... urged those homeowners distressed by rising mortgage payments to call a federal hot line for advice. The number is 1-888-995-HOPE. The agreement would allow distressed borrowers who are current on their payments to keep their low introductory rates ...
    2007-12-06 03:09:00

  • Jobless Claims Make Big Drop

    Newsday - Overall economic growth is expected to slow to a barely discernible 1.5 percent in the current October-December period and weaken even further in the first quarter of 2008. Analysts said growth rates this low raise the threat of a possible recession
    2007-12-06 12:02:00

  • New US mortgage plan has troubling loopholes, not a perfect solution

    International Herald Tribune - The plan negotiated by the Bush administration to freeze the low introductory rates on subprime home loans ... Homeowners dialing up their mortgage company to get their current rate frozen could be disappointed. The White House plan does not force ...
    2007-12-06 05:17:00

  • Highlights of mortgage plan

    Seattle Post Intelligencer - ... on mortgage rates for ... by the mortgage. That feature is designed to exclude investors who bought properties and hoped to benefit from the surge in home prices. The borrowers must be current with payments on the mortgages at the lower "teaser" rates.
    2007-12-06 03:52:00

  • Bush plan would freeze rates

    Miami Herald - ... the higher rates will boost monthly payments by as much as 30 percent, making it very difficult for many people to keep current with their loans. The plan is aimed at homeowners who are making payments on time at lower introductory mortgage rates but ...
    2007-12-06 12:24:00

  • Bush moves to help on mortgage rates (AP via Yahoo! News)

    President Bush announced on Thursday a plan to freeze interest rates for five years for hundreds of thousands of strapped homeowners whose mortgages are scheduled to rise in the coming months.
    2007-12-06 10:42:55

  • Bush Unveils Plan to Freeze Some Mortgage Rates (Bloomberg via Yahoo! News)

    Dec. 6 (Bloomberg) -- President George W. Bush announced an agreement to freeze rates on some subprime mortgages, saying the slump in the housing market is a ``source of concern'' throughout the country.
    2007-12-06 03:16:53

  • Bush, Banks Unveil Plan to Stem Foreclosure Flood

    ABC News - We should not bail out lenders, real estate speculators or those who made the reckless decision to buy a home they knew ... Some homeowners with better credit would be able to refinance their loans in new fixed-rate mortgages with some lenders ...
    2007-12-06 12:31:00

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