Mortgage and Financial News From 2007-9-22 Page 8
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HCC Insurance Withdraws Bond Offering (AP via Yahoo! Finance)
HCC Insurance Holdings Inc. said Friday it is pulling an offer made just two days earlier to sell $300 million worth of bonds because of deteriorating market conditions.
2007-09-21 12:50:49 -
September stresses life insurance awareness (Granite City Press-Record)
According to LIMRA, 68-million Americans have no life insurance coverage. Because of this, Gov. Rod Blagojevich has declared this September Life Insurance Awareness Month in Illinois.
2007-09-22 11:18:30 -
Billionaire Ross Offers to Buy American Home Unit
CNBC - More than one dozen U.S. mortgage lenders have gone bankrupt this year, including several "subprime" lenders that provided loans to borrowers with poor credit. American Home catered to people with better credit. It collapsed after investors stopped ...
2007-09-21 02:25:00 -
HSBC closes US sub-prime mortgage unit
The Independent - Shares of mortgage lenders such as Alliance & Leicester and Bradford & Bingley swung wildly during the week on rumours that they might be the next to seek emergency funding from the Bank of England. Alliance & Leicester was forced to say its business ...
2007-09-21 04:49:00 -
The factors that could turn frown upside down
Times Online - Although experts are not predicting a property crash, there is little optimism that prices will rise. As a result, the number of people selling their houses is likely to stagnate, which is bad news for mortgage lenders such as Northern Rock. David ...
2007-09-22 10:57:00 -
UK wants guarantees for savers
CNN - LONDON, England (AP) -- Britain's treasury chief says he wants new, American-style guarantees to protect savers' money after the Bank of England's effort to bail out Northern Rock -- one of Britain's biggest mortgage lenders -- sparked panic among ...
2007-09-22 08:48:00 -
Lenders need repeat business (Los Angeles Times)
The travel industry's penchant for service is a good model for the mortgage business I recently returned from a boat tour in Indonesia and was impressed by the quality of the service provided by the tour company. The employees went out of their way to make the experience a pleasurable one for the customers. Other tour companies we have used in the past were equally good. My impressions are ...
2007-09-21 11:53:37 -
Bob Bruss: Active military duty blocks mortgage lender from foreclosing (San Antonio Express-News)
A mortgage lender cannot foreclose if the borrower is on active military duty. The homeowner should consult her unit's legal officer for assistance.
2007-09-22 11:42:10 -
UK wants guarantees for savers (CNN.com)
LONDON, England (AP) -- Britain's treasury chief says he wants new, American-style guarantees to protect savers' money after the Bank of England's effort to bail out Northern Rock -- one of Britain's biggest mortgage lenders -- sparked panic among depositors.
2007-09-22 08:25:32 -
Expert Offers Tips for Choosing a Mortgage
KYW News radio - Even with the Federal Reserve's interest rate cut this week, effects of the sub-prime mortgage meltdown are still being felt. So what does that mean if you're actually in the market for a mortgage? This is a time to be careful, says Adam Brauer ...
2007-09-22 07:43:00 -
Mexico Holds Rate on Signs of Slowing U.S. Growth (Update2)
Bloomberg - Sept. 21 (Bloomberg) -- Mexico's central bank kept its benchmark interest rate unchanged for a fifth month and signaled it's prepared to raise borrowing costs if food and fuel costs don't ease. The five-member board maintained a ``restrictive bias ...
2007-09-21 09:39:00 -
Barefoot Investor with Scott Pape
News.com.au - This isn't always the case -- especially if you are borrowing against the equity of a home that can be sold from underneath you, and particularly if you are paying a low-doc inflated interest rate that is, in some cases, 3 to 4 per cent higher than ...
2007-09-22 07:22:00 -
Sensex and Nifty at historic peaks in the week on US rate cut
Hindustan Times - The US Federal Reserve's decision to cut interest rates provided impetus to the stock markets which saw them kissing historic peaks during the week. The 30-share barometer, BSE, showed a weak trend at opening but recovered from Tuesday. Key index ...
2007-09-22 04:23:00 -
European Bonds Drop Most in Almost Two Years on Inflation Views
Bloomberg - Sept. 22 (Bloomberg) -- European government bonds fell the most in almost two years this past week after the Federal Reserve's interest-rate cut rekindled speculation global inflation will quicken. The spread between German two- and 10-year debt ...
2007-09-22 12:27:00 -
Dollar battered in Europe, Canada
Philadelphia Inquirer - Dollar battered in Europe, Canada The interest-rate cut undermined the U.S. currency as the euro rose as high as $1.41. By Jackie Farwell Associated Press
2007-09-21 11:51:00