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Second Home Mortgage Newssecond home mortgageNEW YORK – GMAC LLC, the financing arm of automaker General Motors Corp., said Thursday that it has made progress in restructuring its ailing home mortgage subsidiary but didn’t go as far as to guarantee its future. Residential Capital LLC, which ... Read moreGMAC backs ailing affiliate - Fort Wayne Journal GazettePrepaying a mortgage in these uncertain times sounds perfect. It could shorten the term of the loan and offer a stable return when other investments are losing ground. But it's not a slam dunk decision. Interest rates are low, unemployment high and ... Read morePrepaying Mortgage May Not Trump Investing - Wall Street JournalJan. 9 (Bloomberg) -- Bank of America Corp., GMAC LLC, and WL Ross & Co. are among mortgage servicers that have endured billions of dollars in unexpected costs and added thousands of workers to handle rising foreclosures, denting a business once ... Read moreMortgage Servicing Loses Luster as Bad Loans Mount (Update1) - BloombergJan. 9 (Bloomberg) -- Robert Rubin , the former Treasury Secretary who advised Citigroup Inc. as it lost $20 billion in the subprime mortgage crisis, resigned his position as senior counselor and won’t stand for re-election to the board. Rubin, 70 ... Read moreRubin Retires as Citigroup Counselor, to Leave Board (Update2) - BloombergHomeowners in West Little River, Fla. , Westmont, Calif. , and Copiague, N.Y. , could use some time with their financial planners. That's because these areas have the highest percentages of mortgage holders whose monthly housing costs--73.6%, 73.3 ... Read moreWorst Small Towns To Own A Home - ForbesCOLUMBUS, Ohio (AP) - Oil prices fell below $40 per barrel Friday for the first time this year as the government reported the nation's worst annual job losses since World War II. People are traveling less, manufacturers are slashing production and ... Read moreCrude falls below $40 for first time in 2009 - KTAR.comDon't look for local home prices to rise any time soon. According to a new report from RE/MAX of New England , "home foreclosures will continue to significantly impact the New England real estate market in 2009, creating opportunities for first-time ... Read moreRE/MAX issues New England real estate outlook - Boston GlobeThe housing market is poised for a grim 2009 after figures yesterday showed another sharp fall in prices in December and a record low number of new mortgages. The average house price in Britain fell a bigger-than-expected 2.2% last month, the Halifax ... Read moreHousing market braced for brutal 2009 as prices and mortgage lending ... - Guardian UnlimitedWASHINGTON (AP) - A key lawmaker said Friday he expects the House to act soon to impose conditions on any new release of the second $350 billion in federal bailout funds, with a mandate that at least $50 billion go to help struggling borrowers avoid ... Read moreKey US lawmaker sees action on bailout bill - PR InsideNEW YORK (AP) — Investors sent stocks sharply lower Friday after the U.S. unemployment rate shot above 7 percent, signalling that Americans will be sticking to their tightened budgets for a while. The Labor Department said employers cut 524,000 ... Read more |
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