Mortgage and Financial News From 2008-1-11 Page 68

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  • Bank of America to buy Countrywide Financial for $4 billion (Market Watch)

    Bank of America said on Friday it’s buying Countrywide Financial for $4 billion, confirming rumors that first emerged Thursday, in a move that will make it the top mortgage lender and loan servicer in the U.S.
    2008-01-11 04:51:40
  • Bank of America to buy struggling Countrywide (Reuters)

    NEW YORK (Reuters) - Bank of America Corp said on Friday it agreed to acquire Countrywide Financial Corp, the largest U.S. mortgage lender, in a $4 billion transaction that could help avert one of the biggest collapses in the U.S. housing crisis.
    2008-01-11 04:56:45
  • Bankruptcy up despite good times (The Age)

    Number of Australians declaring themselves insolvent soars to record levels.
    2008-01-11 05:12:04
  • Bank of America to Acquire Countrywide for $4 Billion (Update2) (Bloomberg.com)

    Jan. 11 (Bloomberg) -- Bank of America Corp., the biggest U.S. bank by market value, agreed to buy Countrywide Financial Corp. for about $4 billion, five months after making a money- losing $2 billion investment in the unprofitable mortgage lender.
    2008-01-11 05:21:52
  • More rate cuts hinted (Baltimore Sun)

    Chairman Bernanke says Fed ready to cut interest rates again as needed Federal Reserve Chairman Ben Bernanke pledged yesterday to slash interest rates as needed to prevent housing and credit problems from plunging the country into a recession.
    2008-01-11 05:31:30
  • Republican presidential candidates debate | Full transcript

    The State - ... to realize, is with our dependency upon foreign oil, if we don't begin to reverse that and become energy independent, we well could continue this enslavement to foreign oil, and ultimately wreck our economy. The second thing, subprime mortgages ...
    2008-01-09 03:54:00
  • Yesterday's trading: ITV hasn't made the grade

    This is Money - It issued its first ever profits warning in February of last year, blaming growing problems with US mortgages. Four months ... Warning lights flashed at new Footsie constituent First Group as shares of the bus and trains group were slammed into reverse ...
    2008-01-10 11:38:00
  • Baltimore alleges Wells Fargo was predatory lender

    MSNBC - ... alleges that San Francisco-based Wells Fargo targeted black neighborhoods for high-risk and unfairly priced loans — a practice known as reverse redlining, which is prohibited under the federal Fair Housing Act. For example, it claims that mortgages ...
    2008-01-07 03:57:00
  • Elderly homeowners look into reverse mortgages for additional cash

    Morning Sun - Pittsburg resident Loris Brown saw an ad on television some time ago and decided that the advertisement was worth looking into. Weeks later Brown, an 82-year-old retiree from Borden Dairy in Kansas City, Mo. found himself with $90,000 to do with ...
    2008-01-10 07:18:00
  • 11-January-08 by Anna Moreau and AAP - WA Business News (subscription)

    11-January-08 by Anna Moreau and AAPWA Business News (subscription), Australia - 14 hours agoThe Australian The federal governement looks set to reverse a controversial tax change that almost jeopardised more than $28 billion in corporate takeovers ...
    2008-01-10 02:06:21
  • Socialism and democracy needed to reshape the world - Socialist Party

    Socialism and democracy needed to reshape the worldSocialist Party, UK - 12 hours agoSubprime loans were given out to people who did not have a cat-in-hell's chance of ever repaying them; some were given 150 year mortgages! ...
    2008-01-10 04:26:46
  • Despite Opinion on Reverse Mortgages, Recording Tax Confusion Persists - Law.com (subscription)

    Despite Opinion on Reverse Mortgages, Recording Tax Confusion PersistsLaw.com (subscription), CA - 7 hours agoUnder a reverse mortgage, a borrower, who must be at least 60 or 62 years of age depending upon the program, receives a payment from a lender as opposed to ...
    2008-01-10 09:46:48
  • Fed chief hints at sizable rate cut - Houston Chronicle

    Fed chief hints at sizable rate cutHouston Chronicle, United States - 6 hours agoForeclosures are rising, and so are the number of households behind on their mortgages. Offering an explanation for the Fed's reluctance to act more ...
    2008-01-10 10:36:05
  • Yesterday's trading: ITV hasn't made the grade - This is Money

    Yesterday's trading: ITV hasn't made the gradeThis is Money, UK - 5 hours agoWarning lights flashed at new Footsie constituent First Group as shares of the bus and trains group were slammed into reverse on news of a strike called by ...
    2008-01-10 11:50:37
  • Fed chief hints at sizable rate cut (Houston Chronicle)

    Presenting a bleak picture of a deteriorating national economy, Ben Bernanke, chairman of the Federal Reserve, strongly suggested Thursday that the Fed would cut interest rates soon, perhaps by a large amount. "The outlook for real activity in 2008 has worsened," Bernanke said after describing all the forces dragging down the economy.
    2008-01-10 10:46:05