Mortgage and Financial News From 2007-12-6 Page 3

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  • Mortgage plan: How does it work? Who does it help? (USA Today)

    The Bush administration, banks, bond firms and mortgage servicers rolled out a proposal Thursday to help people with higher-cost adjustable-rate subprime mortgages more quickly and easily refinance or modify their loans including freezing interest rates at the initial teaser rate for five years. A Q&A offers basics about the initiative.
    2007-12-06 07:49:15

  • Pa. panel OK's bills targeting questionable mortgage lending (BizJournals)

    The Banking and Insurance Committee of the Pennsylvania State Senate approved four bills targeting predatory and other questionable mortgage lending practices.
    2007-12-06 12:08:03

  • Talking heads on interest rates cut

    Daily Telegraph - Michael Coogan, director-general of the Council of Mortgage Lenders: "A reduction in interest rates is exactly what the market needs and will benefit consumers. This will reduce the risk of payment shock for the 1.4 million borrowers coming off fixed ...
    2007-12-06 06:51:00

  • Bush unveils plan to help subprime borrowers

    San Francisco Gate - del.icio.us (12-06) 12:36 PST WASHINGTON -- The Bush Administration and mortgage lenders today moved to help hundreds of thousands of subprime borrowers facing the prospect of losing their homes over the next several years by unveiling a ...
    2007-12-06 02:47:00

  • Malaysian shares end morning mixed after key index hits fresh record

    Forbes - The plan was created by the Treasury Department, mortgage lenders and banks and could help about 1.2 million homeowners, Bush said. The Kuala Lumpur Composite Index gained 1.39 points or 0.1 percent to 1,441.78 after rising to a fresh intra-day record ...
    2007-12-06 09:21:00

  • Malaysian shares end morning mixed after key index hits fresh record ...

    Forbes - The plan was created by the Treasury Department, mortgage lenders and banks and could help about 1.2 million homeowners, Bush said. The Kuala Lumpur Composite Index gained 1.39 points or 0.1 percent to 1,441.78 after rising to a fresh intra-day record ...
    2007-12-06 09:49:00

  • Singapore shares end morning higher on Wall St advance, banks lead ...

    Forbes - Homeowners struggling to repay home loans and facing foreclosure will be allowed to freeze their interest rates for up to five years and refinance their mortgages under a plan drawn up by the Treasury Department, mortgage lenders and banks. ...
    2007-12-06 09:35:00

  • Sector Snap: Mortgage Lender Stocks Rise

    Forbes - Shares of most mortgage lenders rose Thursday even after one lender said it must raise additional capital and another said it's seeking bankruptcy protection as President Bush announced a plan to bail out some subprime mortgage holders. The plan ...
    2007-12-06 11:05:00

  • Philippine shares close higher as worry about US slowdown eases ...

    Forbes - The plan was created by the Treasury Department, mortgage lenders and banks, and could help about 1.2 million US homeowners. 'That's one positive step to sooth investor fears about the subprime mortgage crisis,' said Lawrence de Leon, an analyst at ...
    2007-12-06 09:35:00

  • Mortgage relief program a slap in the face to some

    Los Angeles Times - ... of the Bush-backed plan, under which interest rates would be frozen for five years for some adjustable-rate borrowers in danger of losing their homes, say the relief effort would help unsophisticated home buyers who were misled by mortgage lenders ...
    2007-12-06 09:28:00

  • UPDATE: Delta Financial Joins Ranks Of Mortgage Lenders Going Bankrupt (Nasdaq)

    SAN FRANCISCO (Dow Jones) -- Delta Financial Corp. said on Thursday that it plans to file for bankruptcy protection, becoming the latest mortgage lender to succumb to the subprime crisis that's swept the industry this year.
    2007-12-06 10:15:44

  • Mortgage relief on way, but not for all (The Arizona Republic)

    The White House announced a deal with lenders that will provide help to some of the most troubled subprime-mortgage borrowers. But the plan is limited in terms of who can benefit.
    2007-12-06 10:00:58

  • Mortgage aid deal could help one million: White House official (AFP via Yahoo! News)

    A mortgage relief packaged hammered out by the US administration and major lenders could help more than one million homeowners avert foreclosure in the next two years, a White House official said Thursday.
    2007-12-06 10:27:59

  • Bush says mortgage relief plan may help 1.2 million (AFP via Yahoo! News)

    A wide-ranging mortgage relief package was unveiled Thursday by US President George W. Bush, who said measures agreed upon by lenders and investors could help up to 1.2 million distressed homeowners.
    2007-12-06 12:23:18

  • Bush mortgage plan will help in Weld, lenders say (Greeley Tribune)

    The new federal plan to help the mortgage crisis will be a help in Weld County, local lenders say.
    2007-12-06 07:09:35

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