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Bush: U.S. to pay most of tab  President Bush promised Thursday night the government will pay most of the costs of rebuilding the hurricane-ravaged Gulf Coast in one of the largest reconstruction projects the world has ever


First Horizon shares rise on sale of mortgage unit (AP via Yahoo! Finance)   Shares of First Horizon National Corp. rose Wednesday the regional bank agreed to sell residential mortgage business to a subsidiary of MetLife Inc.read more...


Service, delivery to boost growth  THE Alliance banking group's strategy to drive revenue in the future is to enhance its service and delivery in addition to growing the right business segments.read more...


New round of mortgage defaults could cause economic meltdown (The Record)  NEW YORK -- When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get.read


MORTGAGE MELTDOWN / Mortgage offers keep coming - brokers want commissions (Addict 3D)  Ever since the real estate market boiled over, melting down the mortgage industry and its cheap-money feeding frenzy, I've been waiting for one happy outcome: an end to the roar


SWBC Mortgage buys new branches, hires over 100 employees (BizJournals)  Southwest Business Corp.'s mortgage division has purchased the assets of 15 branches of lender Home Loan Corp.read more...

November 23rd, 2007

Possible mortgage crisis fallout has experts up nights (Lexington Herald-Leader)

When Domenico Colombo saw that his monthly mortgage payment was about to increase by 30 percent, he had a clear picture of how bad it could get. His payment was scheduled to surge by an extra $1,500. With his daughter headed to college next fall, he feared ending up like so many neighbors in Fort Lauderdale, Fla., who defaulted on their mortgages and whose homes are now in foreclosure. Colombo …

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