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Finance, Economy & Government Issues Archive


Mortgage Meltdown: Privatizing Profits, Socializing Losses

Commentary by Ralph R. Roberts ...


Fannie Mae Pilot Program Uses Law Firms to Avert Foreclosures

RISMEDIA, March 26, 2008-(MCT)--A Center City law firm that handles mortgage foreclosures for Fannie Mae gets hundreds of calls a day from homeowners facing the loss of their houses. ...


More Homeowners Are Just Walking Away

RISMEDIA, March 12, 2008-(MCT)-Owing more on properties than they're worth, some local homeowners are voluntarily walking away from their house notes. ...


Consumers Give up Lattes, Travel as Economy Sours

RISMEDIA, March 6, 2008-(MCT)-With the economy in a nosedive, Americans are shedding unnecessary expenses, saving their cash and voting "no" to discretionary spending. ...


Eager for Stimulus Rebate? Check out These Myths and Facts

RISMEDIA, March 4, 2008-(MCT)-The Internal Revenue Service has gone into myth-busting mode. Just weeks after Congress passed an economic stimulus package that includes so-called "rebate" payments for about 130 million taxpayers, rumors and misconceptions abound over who is eligible and how to get the money. ...


Old Republic National Title Insurance Company Acquires American-First Abstract Company

RISMEDIA, March 4, 2008-Mark Bilbrey, SVP & COO of the Central Title Group of Old Republic National Title Insurance Company, announced the acquisition of American-First Abstract Company effective this week. American-First has been owned and operated by the Harold Cox family since 1969. American-First, is located in Norman, Oklahoma and ...


Top 10 Foreclosure Avoidance Tips

RISMEDIA, March 4, 2008-Here are 10 suggestions to avoid foreclosure, both now and in the future. ...


As Inflation Rises, What Does It Mean for the Housing Market?

RISMEDIA, Feb. 28, 2008-(MCT)-A sharp jump in wholesale inflation and $100-a-barrel oil prices combined Tuesday to heighten fears that inflationary pressures will drive up mortgage rates and deepen problems in a housing sector that's dragging down the economy. ...


Online Tax Software Benefits, Downfalls

RISMEDIA, Feb. 26, 2008-(MCT)-Few Americans relish the annual chore of preparing their tax returns. Two out of three taxpayers, including me, simply hand the job to a pro. But that still leaves more than 50 million do-it-yourself die-hards. ...


Mortgage Crisis Relief Bill in California Would Ease ‘Short Sale’ Tax Hit

RISMEDIA, Feb. 19, 2008-(MCT)-Homeowners forced to sell their property for less than they paid for it would escape a tax hit under legislation sponsored by state Sen. Michael Machado, D-Linden. ...


Homeowner Refinancing Surges Following Lower Interest Rates

RISMEDIA, Feb. 12, 2008-(MCT)-Thousands of Midlands homeowners are joining the nationwide refinance scramble to lower their monthly payments or pay off their loans more quickly. ...


More Than 2.2 Million Foreclosure Filings on Nearly 1.3 Million Properties Reported

RISMEDIA, Jan. 30, 2008--RealtyTrac®, an online marketplace for foreclosure properties, released year-end data from its 2007 U.S. Foreclosure Market Report, which shows a total of 2,203,295 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 1,285,873 properties nationwide during the year, up 75% from ...


Payment Index: Low Down-Payment Buyers Still Have Safe, Secure Options

RISMEDIA, Jan. 30, 2008-As the mortgage lending market continues to tighten, first time home buyers with low down payments still have choices, according to Dr. Susan M. Wachter, professor of Real Estate and Finance at the University of Pennsylvania's Wharton School. With support from Genworth Financial, Dr. Wachter released her ...


Nehemiah Corporation Reaches $1 Billion Milestone in Private Downpayment Assistance

RISMEDIA, Jan. 29, 2008-Nehemiah Corporation of America, a provider of private downpayment assistance in the United States, announced that the non-profit has provided more than $1 billion in mortgage downpayment assistance through The Nehemiah Program®. ...


Fed Makes Emergency 0.75% Rate Cut

RISMEDIA, Jan. 23, 2008-(NYTimes.com)-The Federal Reserve, responding to an international stock sell-off and fears about a possible United States recession, cut its benchmark interest rate by three-quarters of a percentage point on Tuesday. ...


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