Mortgage and Financial News From 2008-3-6 Page 8

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  • Homeowner equity is lowest since 1945

    BusinessWeek - Homeowners' portion of equity slipped to downwardly revised 49.6 percent in the second quarter of 2007, the central bank ... The proportion of all mortgages nationwide that fell into foreclosure surged to a record of 0.83 percent, while the percentage ...
    2008-03-06 11:55:00
  • Michigan foreclosures rank 3rd

    Detroit Free Press - Nearly 6% of all mortgages were delinquent nationwide in the fourth quarter and foreclosure starts were at the highest levels ... Michigan ranked second nationally with 8.97% of its home loans delinquent during the three months ended Dec. 31.
    2008-03-06 11:19:00
  • Home foreclosures hit all-time high

    Seattle Post Intelligencer - The Mortgage Bankers Association said Thursday the proportion of all mortgages that slipped into foreclosure set a record, 0 ... Homeowners' percentage of equity slipped to 49.6 percent in the second quarter of 2007 and reached 47.9 percent in the ...
    2008-03-06 01:35:00
  • ADRs in Focus: Emerging Markets

    MSN MoneyCentral - Federal Reserve said Thursday that homeowners' portion of equity slipped to downwardly revised 49.6 percent in the second quarter of 2007. Also Thursday, the Mortgage Bankers Association said the proportion of all mortgages that slipped into ...
    2008-03-06 12:52:00
  • Americans giving up homes before other assets as credit bubble bursts

    International Herald Tribune - The result was that they would stop paying off their credit cards first, the car loans second and only last would they default on their mortgages.
    2008-03-06 10:36:00
  • Citigroup to Cut Mortgage Exposure by $45 Billion

    CNBC - According to its annual report, Citigroup ended 2007 with $150 billion of first mortgages and $63 billion of second mortgages, including home equity loans, on its books.
    2008-03-06 01:14:00
  • Man Jumps In Fox River In Attempt To Escape Deputies, Jail (WISC-TV Madison)

    ROCHESTER, Wis. -- Authorities said a man out on bond jumped into the Fox River to avoid going back to jail. Racine County sheriff's deputies said Michael Dekraai told them he would rather die in the chilly water than go back to jail.
    2008-03-06 01:31:56
  • (Full Story) (WIBW-TV Topeka)

    (CBS/AP) Americans' percentage of equity in their homes fell below 50 percent for the first time on record in the final quarter of last year while home foreclosures soared to an all-time high, according to a pair of reports released Thursday.
    2008-03-06 01:36:34
  • Crystal River Reports Fourth Quarter and Full Year 2007 Financial Results (Marketwire via Yahoo! Finance)

    Crystal River Capital, Inc. -
    2008-03-06 01:42:00
  • Notes on Flow of Funds Report (Zacks.com via Yahoo! Finance)

    If all the houses in the U.S. were a single house worth $500,000, the mortgage would be $260,500, and the equity in the house would be $239,500.
    2008-03-06 01:44:33
  • Home foreclosures hit all-time high (Seattle Post-Intelligencer)

    Home foreclosures nationally soared to an all-time high in the final three months of 2007 and probably will keep rising. The situation in Washington continued to worsen, but remained better than the national picture.
    2008-03-06 01:46:04
  • Federal Reserve report shows homeowner equity lowest on record (Pittsburgh Post-Gazette)

    NEW YORK -- Americans' percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said today. ...
    2008-03-06 01:54:34
  • Household wealth dips for first time since 2002 (Reuters via Yahoo! News)

    The net wealth of U.S. households fell for the first time in five years during the fourth quarter last year as the value of real estate holdings and stocks weakened, the Federal Reserve said on Thursday.
    2008-03-06 01:56:02
  • Citigroup overhauls mortgage business, aims to cut risk (USA Today)

    Citigroup on Thursday said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 million a year in an overhaul of its U.S. residential mortgage business.
    2008-03-06 01:56:51
  • Dennis Prager

    Town Hall - Before you take out a second mortgage or otherwise deplete your savings in order to pay for your child's college education, you might want to ask the colleges to which your child is applying some questions. 1. Can one obtain a Bachelor of Arts degree ...
    2008-03-06 12:16:00