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Finance, Economy & Government Issues Archive


Chase Opens Mortgage Office in Boston’s South End

RISMEDIA, Oct. 6, 2008-Chase, one of the nation's leading residential housing lenders, announced the opening of its second mortgage office in Boston's South End, this one at 1313 Washington Street. ...


Bush Admin Launches ‘Hope for Homeowners’ Program to Help Struggling Families

RISMEDIA, Oct. 3, 2008-This week, the Bush Administration unveiled additional mortgage assistance for homeowners at risk of foreclosure. The HOPE for Homeowners Program will refinance mortgages for borrowers who are having difficulty making their payments, but can afford a new loan insured by HUD's Federal Housing Administration (FHA). ...


Mortgage Rates Rise as Credit Crunch Intensifies

RISMEDIA, Oct. 3, 2008-Mortgage rates increased for the third consecutive week, with the average 30-year fixed mortgage rate rising to 6.41%. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.42 discount and origination points. ...


Protecting Your Home & Finances in Perilous Times

RISMEDIA, Oct. 2, 2008-With the nation possibly facing the most worst financial crisis since the Great Depression, and as many as 6 million homeowners at risk of foreclosure, we all need to review our finances and make sure we are well positioned for the future. Home values, the stock market, ...


A Modest Proposal – Helping Main Street and Wall Street

Commentary by David M. Michonski ...


Raising Credit Scores Is Key for Consumers in Time of Tight Lending

By Pamela Yip ...


Freddie Mac Receives Federal Grand Jury Subpoena and Securities and Exchange Commission Inquiry

RISMEDIA, Sept. 30, 2008-On Friday, Freddie Mac received a federal grand jury subpoena from the United States Attorney's Office for the Southern District of New York. Also on Friday, September 26, 2008, Freddie Mac received from the Staff of the Enforcement Division of the United States Securities and Exchange Commission ...


$4 Billion to Be Allocated to Stabilize Neighborhoods and Local Communities

By Paige Tepping ...


Is Bailout a Housing Ills Panacea?

Some see plan attacking root cause, but others believe cost is too high ...


Freddie Mac Announces Changes in Management and Organization

RISMEDIA, September 29, 2008-Freddie Mac announced Friday changes in its senior management and organization that will enable the company to help stabilize the housing finance system and position it to take advantage of business opportunities in the market over the longer term. The changes are effective immediately. ...


Mortgage Rates Remain Flat Despite Drama on Wall Street

RISMEDIA, Sept. 24, 2008-Mortgage rates have remained relatively flat over the past week, with rates for 30-year fixed mortgages increasing slightly to 5.78%, up from 5.77% the week prior according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com(R). Mortgage rates for 15-year fixed and 5-1 adjustable ...


Trillion Dollar Federal Bailout – How Bad Is It?

RISMEDIA, Sept. 23, 2008-"The number one issue that needs to be addressed as the government considers its rescue plan is the actual realistic value of troubled mortgage assets," said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. "The current market value of many ...


Congress Should Protect Taxpayers and Retain the Ban on ‘Charity’ Down Payment Schemes

RISMEDIA, Sept. 19, 2008-Congress should pause and carefully consider the consequences before it acts to overturn its recent ban of so-called "charity" down payment assistance schemes, according to the National Multi Housing Council (NMHC) and the National Apartment Association (NAA). ...


Survey Shows Majority to Pay-Off Mortgages

RISMEDIA, Sept. 17, 2008-A majority of homeowners surveyed intend to eventually pay-off their mortgages, according to a new poll by Housing Predictor. The opinion poll found that despite the largest number of mortgage holders on record who have chosen to walk away from mortgages at the peak of the national ...


5 Stumbling Blocks to Good Financial Management

By Dan Serra ...