Mortgage and Financial News From 2008-8-26 Page 17
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HOUSING: Buyer sues lender over short sale (North County Times)
A North County real estate company has sued a lender for a failed short sale, a transaction that has become increasingly popular while home prices tumble.
2008-08-26 01:09:36 -
Single women slammed by U.S. housing mess (MSN Money Canada)
While America's real-estate market was expanding, single women benefited as never before. But when the boom went bust, guess which segment was among the biggest losers.
2008-08-26 01:13:50 -
Lower prices boost sales of existing homes (The Washington Times)
Bargain hunters took advantage of falling home prices in July, boosting sales of existing homes, especially in the West, where foreclosures soared and home prices plunged in the past year.
2008-08-26 01:15:00 -
Sales of New Houses in U.S. Probably Dropped as Rates Rose - Bloomberg
Aug. 26 (Bloomberg) -- Sales of new houses in the U.S. probably fell in July as mortgage lending dried up and interest rates rose, economists said before reports today. Purchases dropped 0.9 percent to a 525,000 annual pace, according to the median ...
2008-08-25 11:21:00 -
UPDATE 1-Thornburg Mortgage has 2nd-qtr profit - Reuters
NEW YORK, Aug 25 (Reuters) - Thornburg Mortgage Inc (TMA.N: Quote , Profile , Research , Stock Buzz ), a specialist in jumbo home loans, posted a $412.3 million quarterly net profit on Monday, helped by a $536.9 million gain from the declining value ...
2008-08-25 04:40:00 -
Foreclosures ensnare low-income renters - Los Angeles Times
Ruth Cordoba has never owned a home, but she is feeling the effects of the mortgage meltdown acutely. Cordoba, 28, rented a three-bedroom home in Riverside for six months with the help of so-called Section 8 funds, money provided by the federal ...
2008-08-25 11:00:00 -
UK mortgage delinquencies up in Q2,worse ahead-S&P - Forbes
LONDON, Aug 26 (Reuters) - The number of Britons failing to meet mortgage repayments rose significantly in the second quarter and the pattern suggests worse lies ahead, according to a report by Standard & Poor's. While the bulk of defaults remained ...
2008-08-25 10:31:00 -
Indiana files suit vs. Countrywide - MSN MoneyCentral
Indiana Attorney General Steve Carter has filed a lawsuit against the Countrywide Financial Corp., accusing the mortgage lender of deceptive and misleading practices that led to borrowers obtaining potentially risky and costly loans. Calabasas-based ...
2008-08-25 01:06:00 -
UPDATE 1-Wells Fargo top mortgage executive to retire - Reuters
NEW YORK, Aug 25 (Reuters) - Wells Fargo & Co (WFC.N: Quote , Profile , Research , Stock Buzz ), the second-largest U.S. home loan provider, said on Monday that Mark Oman, its top mortgage executive, plans to retire by the end of 2009. Oman, a nearly ...
2008-08-25 02:53:00