Mortgage and Financial News From 2008-1-22 Page 3

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  • Family, friends testify - Akron Beacon Journal

    Family, friends testifyAkron Beacon Journal, OH - 25 minutes agoWillan, 37, is charged with multiple first-degree felonies in a 147-count Summit County indictment alleging widespread Akron-area mortgage fraud. ...
    2008-01-22 10:34:50

  • Fed fires warning shot across recession’s bow - Mason City Globe Gazette

    Fed fires warning shot across recession’s bowMason City Globe Gazette, IA - 22 minutes agoThe Iowa economy, however, is less vulnerable to the subprime mortgage crisis that ignited the economy’s decline and “never directly hit our markets,” he ...
    2008-01-22 10:38:04

  • Private-equity firms are in state of flux - Akron Beacon Journal

    Private-equity firms are in state of fluxAkron Beacon Journal, OH - 21 minutes agoIn July, ''the music stopped,'' as trading in the mortgage bonds that banks had been using to finance private-equity deals collapsed when rating agencies ...
    2008-01-22 10:39:10

  • Financial experts say it's no time to panic - Chicago Daily Herald

    Financial experts say it's no time to panicChicago Daily Herald, IL - 15 minutes agoLong-term mortgage rates should drop. LA SPISA. It typically takes six months to 18 months for a Fed rate cut to be felt in the market place. ...
    2008-01-22 10:44:49

  • 'Recession' is here, economists agree - Winston-Salem Journal

    'Recession' is here, economists agreeWinston-Salem Journal, NC - 14 minutes ago“That’s demonstrated by the lackluster retail performance during the holiday season, the continuous announcements of job losses, and the subprime-mortgage ...
    2008-01-22 10:46:00

  • Recession ahead? - Daytona Beach News-Journal

    Recession ahead?Daytona Beach News-Journal, FL - 12 minutes agoHis grocery bill is higher nowadays, and he can barely afford his mortgage payments. "Everything has gotten tremendously more expensive," said Rizzo, 45, ...
    2008-01-22 10:47:46

  • Local advisers say do not panic - Dayton Daily News (subscription)

    Local advisers say do not panicDayton Daily News (subscription), OH - 12 minutes agoPeople could end up owing more on their mortgage than the depleting value of their homes, Duvall said. If the market takes a significant downward turn, ...
    2008-01-22 10:48:41

  • Federal interest rate cut may benefit some consumers - Henderson Gleaner

    Federal interest rate cut may benefit some consumersHenderson Gleaner, KY - 11 minutes agoOver time, the cut will likely have an indirect impact on home mortgage rates. It also will ultimately affect favorably on car loans, say Evansville bank ...
    2008-01-22 10:49:31

  • Credit where it's due - Grand Junction Sentinel

    Credit where it's dueGrand Junction Sentinel, CO - 10 minutes agoHe pointed to the 30-year mortgage interest rate, widely viewed as the most popular way to finance a home purchase, as a key indicator. ...
    2008-01-22 10:50:16

  • Wall Street plummets - Idaho State Journal

    Wall Street plummetsIdaho State Journal, ID - 9 minutes ago... where anxiety has been escalating that an interest rate might not be enough to stoke an economy pummeled by soaring mortgage defaults and tumbling home ...
    2008-01-22 10:50:51

  • No new tricks in economic playbook - PensacolaNewsJournal.com

    No new tricks in economic playbookPensacolaNewsJournal.com, FL - 4 minutes agoOnce again, the housing crunch and subprime mortgage crisis have demonstrated — despite the wishful thinking of the financial industry and greedy investors ...
    2008-01-22 10:56:39

  • Stocks Dive, Then Rebound After Fed Cut (IWon - Money)

    NEW YORK (AP) — The opening bell hadn't even sounded on Wall Street when the Federal Reserve announced an emergency interest-rate cut. The Dow Jones industrial average fell 465 points — including 300 in the first minute — then rebounded to finish down a more bearable 128.
    2008-01-22 10:46:20

  • Judge blisters Harris County DA over Medina case (Houston Chronicle)

    A judge criticized the Harris County District Attorney's Office on Tuesday for not supporting a grand jury's decision to indict a Texas Supreme Court justice and his wife for a 2007 arson that destroyed the couple's Spring home.
    2008-01-22 10:47:36

  • Wall Street plummets (Idaho State Journal)

    Specialist Gregg Maloney, right, directs trading at his post on the floor of the New York Stock Exchange Tuesday morning Jan. 22, 2008. Wall Street plunged at the opening of trading Tuesday, propelling the Dow Jones industrials down about 300 points after an interest rate cut by the Federal Reserve failed to assuage investors fearing a recession in the United States.
    2008-01-22 10:51:09

  • Congress Under Pressure to Move Faster Than Usual on Stimulus (Bloomberg.com)

    Jan. 23 (Bloomberg) -- Congress, known for taking months to pass major legislation, is under pressure to enact a stimulus measure within weeks to help keep the U.S. out of recession.
    2008-01-22 10:53:34

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