Fed: More Banks are Tightening Lending Standards
More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.
read more…
Freddie Mac asking banks to return mortgage payments to Katrina victims (The Santa Rosa Press Democrat) In what may be a first for the U.S. housing market, banks are being encouraged to return the most recent mortgage loan payments from people displaced by Hurricane Katrina.read more...
Correction: Borrowing Trouble (New York Times) An article last Sunday about a class-action lawsuit over mortgage lending practices referred incorrectly to the loan-to-value ratio that is considered prudent for mortgages. It is a maximum of 80
Mediate or risk drowning in legal fees Dear Steve, I bought a seven-year-old house in October 2004. Neither the Realtor nor the seller mentioned a drainage problem.via
Lincoln Design Team Brings the Luxury of Contemporary Home Design to the Road "The new Lincoln vehicles clearly blend the best elements of architecture, craftsmanship, interior design and fashion design" Lincoln, known for design-conscious luxury vehicles such as the award-winning Lincoln MKZ
Lenders withdraw mortgage products (Channel 4) Two mortgage lenders have announced that they are withdrawing products which combine a mortgage with a personal loan. Alliance & Leicester said it was withdrawing its PlusMortgage, while Coventry Building
U.S. Comptroller Says Exotic Mortgages Bring Payment Shock "Comptroller of the Currency John Dugan said Thursday he has grown increasingly concerned by risks to both borrowers and lenders from relatively exotic negative-amortization and payment-option mortgages." There ...read more...
August 11th, 2008
read more…