Mortgage and Financial News From 2007-12-7 Page 17

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  • Bush announces subprime mortgage relief plan

    Capital News 9 - President Bush has reached an agreement with the mortgage industry. The plan, to freeze interest rates for the next five years. But the plan only applies on some loans, ones where borrowers have not missed any payments. "Now is an example of government ...
    2007-12-07 04:09:00

  • CORRECTED-FACTBOX-White House subprime rescue plan

    Reuters - ... interest rates will reset for the first time between Jan. 1, 2008, and July 31, 2010, would be eligible for a five-year interest-rate freeze. -- Only owner-occupied homes would qualify for a rate freeze. -- The plan is not binding on all mortgage ...
    2007-12-07 07:22:00

  • Now May Be Time to Switch to Fixed-Rate Mortgage

    CNBC - ... with a maximum adjustment of 3 percent, your new rate would be held to only 7 ... the closing paperwork from your current loan to the office of your local mortgage ... A plus (+) sign means the category is on the side of lower interest rates, a minus ...
    2007-12-07 07:58:00

  • Who Qualifies for Bush's Mortgage Bailout Plan?

    ABC News - President Bush announced Thursday a plan to freeze interest rates for five years for some ... The Bush bailout only applies to people whose mortgages adjust after Jan. 1. McGee's mortgage payments went up six days ago, from $707 a month to $912.
    2007-12-07 08:19:00

  • Egg refuses to pass on rate cut to borrowers

    Times Online - A borrower with a £150,000 interest-only mortgage pegged at the lender's SVR will save £18.75 on their monthly repayments following the rate cut. However, if Egg had passed on the full quarter point cut, the saving would have been £31.25 a month. ...
    2007-12-07 07:29:00

  • Wall Street Continues Rally After Bush Announces Mortgage Plan

    Washington Post - ... boost when President Bush announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years but also to refinance their mortgages. The plan was created by the Treasury Department , mortgage ...
    2007-12-07 07:58:00

  • Dollar up in Europe after interest rate moves by central banks

    CNBC - The interest rate meetings came amid renewed fears that the U.S. subprime mortgage crisis could spread further globally, and debate over whether rate cuts could help stem such concerns. The U.S. Federal Reserve meets next week to discuss American ...
    2007-12-07 03:26:00

  • Homeowners seeking mortgage help should 'have patience,' hotline says

    Detroit News - Under the plan outlined Thursday, the rate freeze offer would be available only to people who have not missed any mortgage payments at their introductory interest rate. It also only would apply to loans taken out between 2005 and this past July 31 ...
    2007-12-07 08:12:00

  • Mortgage reform at a glance (The State)

    Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. Bush on Thursday said 1.2 million people could be eligible for help under the voluntary, private-sector arrangement. But only a fraction will be subject to the rate freeze. WHO ...
    2007-12-07 05:22:35

  • Bush's Subprime Mortgage Interest-Rate Freeze Stuns Bond Market (Bloomberg.com)

    Dec. 7 (Bloomberg) -- President George W. Bush's plan to freeze interest rates on some subprime mortgages may prove to be a cure that breeds another disease.
    2007-12-06 10:24:27

  • Mortgage interest rate freeze could benefit thousands (CentralOhio.com)

    WASHINGTON (AP) -- Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months.
    2007-12-07 05:24:07

  • Mortgage crisis: Be prepared to wait for chance to benefit from interest rate freeze (Naples Daily News)

    Be ready to wait if you want to get information from a toll-free hot line about freezing the interest rate on your subprime mortgage.
    2007-12-07 04:43:48

  • Bush Mortgage Fix Is Really an Insurance Policy

    US News and World Report - ... based Stafford Group policy research firm, sees the Bush-Paulson subprime mortgage ... prices, another spike in foreclosures would put further downward pressure on home ... hopeful John Edwards, for instance, wants a seven-year freeze on rates, a ...
    2007-12-07 07:36:00

  • Asian Stocks Rise on U.S. Financing Plan; Toyota Leads Advance

    Bloomberg - Toyota Motor Corp., which gets about a third of its sales from North America, and Honda Motor Co. led exporters higher on speculation a U.S. proposal to freeze interest rates on some home loans will ease a housing slump and boost consumer spending in ...
    2007-12-07 01:46:00

  • Stock futures down, all eyes on November payrolls

    CNBC - Bush to stem U.S. home foreclosures would keep the economy from sliding into a recession. "The deal is important," Cheuvreux said in a note on Friday. "It will give mortgage lenders time to work through the sub-prime crisis," Cheuvreux said, adding ...
    2007-12-07 02:14:00

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