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Lenders cite worsening housing woes
San Jose Mercury News - The company said late Wednesday that accounting errors caused it to lose track of how drastically some of its mortgage loans are losing value. Three Wall Street analysts downgraded New Century, and the company’s stock plummeted $10.92, or 36 percent
Source: www.mercurynews.com

U.S. consumer debt rises 3% in December
Providence Business News - WASHINGTON Consumer credit rose in December as consumers took out more non-mortgage loans, but the rate of borrowing slowed, according to Wednesday’s statistical release from the Federal Reserve. The monthly increase was slower than that for the
Source: www.pbn.com

Foreclosures on the rise
Morning Journal - The higher interest rates mean more profits for the banks who make the loans. Mortgage brokers are eager to arrange these loans, as middlemen between the banks who lend the money and the home buyers who borrow it, according to Paul Bellamy, former
Source: www.morningjournal.com

Strapped and barely
New York Daily News - Take a look at what you owe: your credit card debt, car loans, mortgage, business loans and borrowings from family and friends. Subtract your debt from your assets to arrive at your net worth. Set up an emergency fund. “It should be six to nine months
Source: www.nydailynews.com

Tags: mortgage news, mortgage help, mortgage rate, mortgage

This entry was posted on Monday, February 12th, 2007 at 1:00 pm and is filed under Online Mortgage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.