ND’s Loan News

GMAC gives up some GM car financing in bailout
DETROIT — GMAC LLC will no longer have exclusive rights to provide no- or low-interest loans to people who take advantage of General Motors financing incentives, as part of the complex deal that gave the troubled lender billions in federal aid.

Mortgage rates drop to 37-year low
NEW YORK (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, according to a survey released on Wednesday by home funding company Freddie Mac.

james :: Jan.05.2009 :: General :: No Comments »

U.S. puts up $6 billion to support auto lender GMAC
WASHINGTON (Reuters) - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion.

james :: Jan.05.2009 :: General :: No Comments »

After Hours: Synovus girds for loan losses, as Qimonda battles for listing
Synovus shares tumble after the banking company says it plans to set aside more funds for loan losses, laying blame on the Atlanta housing market, while chip firm Qimonda details its efforts to maintain an NYSE listing.

james :: Jan.04.2009 :: General :: No Comments »

Can You Get a Loan?
The short answer is yes. But you need a sterling credit history to get the best rate.

Pretending to be in Distress?
My family as well as several other families in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has…

james :: Jan.04.2009 :: General :: No Comments »

US stocks suffer worst year since Great Depression
The worst annual performance for US stocks since the Great Depression ended with a modest rally on the final day of trading as the Federal Reserve pushed ahead with its plan to buy mortgage-backed securities

james :: Jan.03.2009 :: General :: No Comments »

Pretending to be in Distress?
My family as well as several other families in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has…

US stocks suffer worst year since Great Depression
The worst annual performance for US stocks since the Great Depression ended with a modest rally on the final day of trading as the Federal Reserve pushed ahead with its plan to buy mortgage-backed securities

Fed to start buying mortgage-backed securities
WASHINGTON — The Federal Reserve said Tuesday that it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the long-suffering housing market.

james :: Jan.03.2009 :: General :: No Comments »

Grabbing a Loan Lifeline In Sea of Choices
For homeowners in trouble with their mortgage, navigating the myriad programs and groups offering help can be taxing. When is the right time to ask for help? Who should you turn to?

james :: Jan.02.2009 :: General :: No Comments »

Top 5 home-buying blunders for 2009
Housing prices are down, and mortgage rates are low. Still, experts advise that potential buyers exercise caution before venturing into this real-estate market.

Pretending to be in Distress?
My family as well as several other families in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has…

The ECB under pressure after weak sales and job losses
The European Central Bank will begin the New Year under pressure to keep cutting interest rates after retail sales and loans to households and companies grew at the slowest pace in four years. Retailers reported sales, jobs and profit margins all contracted this month as the deepening recession curbed consumer confidence and spending. “The ECB will have to go further,” said Gilles Moec, an economist at Bank of America Corp. in London and a former Bank of France official. The euro region faces

james :: Jan.02.2009 :: General :: No Comments »

The ECB under pressure after weak sales and job losses
The European Central Bank will begin the New Year under pressure to keep cutting interest rates after retail sales and loans to households and companies grew at the slowest pace in four years. Retailers reported sales, jobs and profit margins all contracted this month as the deepening recession curbed consumer confidence and spending. “The ECB will have to go further,” said Gilles Moec, an economist at Bank of America Corp. in London and a former Bank of France official. The euro region faces

james :: Jan.01.2009 :: General :: No Comments »

U.S. puts up $6 billion to support auto lender GMAC
WASHINGTON (Reuters) - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion.

Mortgage rates fall to new record low
WASHINGTON — Rates on 30-year fixed-rate mortgages fell to a record low for the second straight week, causing refinancing applications to surge to the highest level in more than five years, a month after the Federal Reserve pledged to channel billions to prop up the sinking U.S. housing market.

james :: Jan.01.2009 :: General :: No Comments »