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Is a Short Sale Right for You? (BusinessWeek)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
BusinessWeek - Home prices have dropped as much as 50% in some parts of the country, and many readers in those areas keep asking what they can do to stop the bleeding? In my last article, I described various strategies available to lower your monthly mortgage payments. But what options do you have if you are so far underwater that refinancing is not feasible and you are desperate to get out from under? The short answer is the short sale. What is a short sale? It is when you sell your home (including sales commissions and other closing costs) for less than you owe on the mortgage. ...
Comeback of the Year: Behind Genworth's 700% Rebound (BusinessWeek)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
BusinessWeek - A year ago, few companies were having as tough a time as Genworth Financial . Like other life insurers, it had seen its investments decimated by market turmoil. There "was a fear that a lot of these companies weren't solvent," says Standard & Poor's equity analyst Bret Howlett. "Genworth was at the top of that list." But Genworth had another problem, as one of the only providers of both life and mortgage insurance. Its U.S. mortgage business was seeing big losses as homeowners defaulted on their loans amid the worst housing market. ...
US AG brings more money to fight AZ mortgage fraud (AP)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
AP - U.S. Attorney General Eric Holder delivered more resources to fight mortgage fraud in Arizona and across the nation Thursday, saying $8 million will be used to beef up investigation teams this spring.
Obama housing plan seeks to reduce mortgage debt (Reuters)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
Reuters - The Obama administration on Friday announced a $14 billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed.
Kansas Senate Democrats to offer tax plan (AP)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
AP - Kansas Senate Democrats said Friday they will roll out a tax proposal next week that will include raising the income tax to help balance the state budget.
The Top 7 of the Top 7 (The Motley Fool)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
The Motley Fool - If you're not growing, you're dying, according to more than a few investment theorists. That's one reason so many investors are preoccupied with growth, particularly when it comes to countries. No measure of aggregate growth garners more attention than gross domestic product, but we don't want just any GDP growth, we want the right amount of growth.
White House expands housing aid program (Reuters)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
Reuters - The Obama administration on Friday announced a $14 billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed.
Fitch cuts SunTrust ratings on credit concerns (AP)
Discuss Posted by admin 161 days ago (http://us.rd.yahoo.com)
AP - Fitch Ratings on Friday downgraded certain ratings of SunTrust Banks Inc. because of continued concerns about the mortgages, home equity loans and commercial real estate loans in its portfolio.
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