Home prices to take hit next year
Don’t take the latest snapshot of U.S. home prices too seriously. The Standard & Poor’s/Case-Shiller 20-city index released Tuesday ticked up in July from June. But the gain is merely temporary, analysts say. They see home values taking a dive in many major markets well into next year. That’s because the peak home-buying season is now ending [...] Read more on Long Island Business News
Commodity Volatility May Climb, SocGen’s Godin Says
Commodity prices, which have surged to the highest level since January, may see greater volatility as investors react to threats to the global economic recovery, according to Societe Generale SA. Read more on BusinessWeek
US chef featured on Gordon Ramsay’s ‘Kitchen Nightmares’ kills himself in bridge jump
A chef who three years ago described “overwhelming” personal debt when he was featured on Gordon Ramsay’s “Kitchen Nightmares” show jumped to his death from the George Washington Bridge into the Hudson River. Read more on Times & Transcript
U.S. seizes failing wholesale credit unions; will resell toxic mortgage bonds
WASHINGTON – Federal regulators took over three key lenders to U.S. credit unions, after losses on mortgage investments threatened to topple them. The move was a reminder that parts of the financial system are still burdened by the toxic assets two years after the financial crisis peaked. Read more on Brandon Sun
U.S. seizes failing wholesale credit unions; will resell toxic mortgage bonds
WASHINGTON – Federal regulators took over three key lenders to U.S. credit unions, after losses on mortgage investments threatened to topple them. The move was a reminder that parts of the financial system are still burdened by the toxic assets two years after the financial crisis peaked. Read more on Brandon Sun
When to lock in a loan rate
When is the timing right to lock in your mortgage rate? With a rate lock, lenders are obligated (with a few exceptions) to offer a home loan at an agreed-upon rate regardless of whether mortgage rates have changed between the time of loan approval and closing date. Read more on Everett Herald
Obama aide Volcker says mortgage reform crucial
Paul Volcker, special adviser to President Barack Obama, said on Wednesday that reforming the U.S. mortgage market is the biggest single element missing from financial regulatory reform. Read more on Reuters via Yahoo! News
Feds: Thai workers brought to U.S. treated like slaves
The Justice Department has indicted six leaders of Los Angeles-based Global Horizons, which it says recruited about 400 Thais to work on U.S. farms but held them in virtual slavery.The company’s chief, Mordechai Orian, surrendered to federal authorities in Hawaii, and his bail was set at $ 1 million. He faces up to 70 years in prison if convicted at a trial tentatively set for November.”I was … Read more on Chicago Sun-Times
Will Packers get backfield help?
The best part of these weekly trips to New York comes on Saturday night, when the Football Night in America crew gathers for a group dinner. (Sure, I’m technically not on Football Night in America , but so far I’m two-for-two in having them not politely ask me to get the hell out.) Read more on MSNBC
Seattle investment firm accused of not paying hundreds of clients
Chesterfield Mortgage Investors has had its assets frozen by the state. Read more on KING5 Seattle
Household wealth takes a dive
Household net worth fell sharply in the second quarter, ending a string of four straight quarters of gains, according to a Federal Reserve report Friday. Read more on CNN Money
Household wealth takes step backwards
Household net worth fell sharply in the second quarter, ending a string of four straight quarters of gains, according to a Federal Reserve report Friday. Read more on CNN Money
Banks owe on housing
The nation’s largest banks have an obligation to pay some of the cost for bailing out mortgage buyers Fannie Mae and Freddie Mac because they sold them bad mortgages, a government regulator said Wednesday. Read more on The Clarion-Ledger
Citigroup shedding student loan business
Citigroup Inc. said Friday it is selling its student loan business and about $ 32 billion in related assets to Discover… Read more on Deseret News
Exclusive: Bohringer and Gardner launch brokerage
Industry veterans Ray Bohringer and Chris Gardner will launch a new-style mortgage brokerage and consumer website in October that they claim will change the mortgage advice market. Read more on Mortgage Introducer
www.myfirsthomenewsletter.com – Understandably, when most home buyers look for a mortgage, their top priority is to get the lowest monthly payment. But it’s a better idea to look at how much it’s going to cost you over the long term, in both interest payments and fees. By looking at these costs, you can save a significant amount over the years. Even if you already have a mortgage, there are still a number of strategies you can use to reduce the total amount of interest you’ll pay. Video contains royalty-free music of Kevin MacLeod (incompetech.com), licensed by Creative Common Attribution 3.0. creativecommons.org
Mortgage rates edge up; housing market still slow
NEW YORK (AP) — Record-low mortgage rates failed to pull the housing market out of its funk. Now rates are inching higher, but don’t blame them if home sales stay sluggish. Read more on Jefferson City News Tribune
Investors’ fears ease; mortgage rates rise slightly?
Associated Press, WASHINGTON — Mortgage rates mostly edged up last week as investors’ fears about the economy eased. Read more on New Haven Register
Bell Councilman joins recall effort
One of four City Council members targeted for removal in the scandal-plagued suburb of Bell said Tuesday he now supports the recall effort but won’t resign. Read more on KGO-TV Bay Area
VOICE OF THE PEOPLE
In general, our Constitution provides for the general welfare of all its citizens. Personally, I have directly benefited from the government under this generous Constitution. Read more on Pacific Daily News
More charges likely against accused fraudster
More charges are almost certainly pending against a man police allege defrauded two fiancees, their parents and a widowed senior out of $ 1.5 million, the lead detective said Tuesday. Read more on CTV Toronto
Freddie Mac prices new 5-year notes at 99.714
Government-sponsored mortgage buyer Freddie Mac said Thursday that its new five-year notes were priced at 99.714 to yield 1.81 percent, or 29.5 basis points more than five-year U.S. Read more on AP via Yahoo! Finance
Mortgage crisis seer Michael Burry bets on farms
The former hedge fund manager who predicted the housing market’s plunge said he is investing in farmable land, small technology companies and gold as he hunts for original ideas and braces for a weaker dollar. “I believe that agriculture land – productive… Hedge fund – Business – Investing – Funds – Agriculture Read more on San Francisco Chronicle
OECD warns Canadians on high levels of personal debt
Update: Bank stocks rally on global markets. Siegfried Wolf to leave Magna Read more on The Globe and Mail
£17.5 million fine hits Goldman for mortgage fraud
American bank Goldman Sachs has been fined £17.5 million by the FSA for breaching FSA principles in an alleged mortgage fraud. Read more on Mortgage Introducer
With rising foreclosures, state Supreme Court urges count courts to implement diversionary program
As mortgage foreclosures continue to rise, the state Supreme Court is urging county courts to consider implementing a diversionary program just like the one started 17 months ago in Lackawanna County.State Supreme Court Chief Justice Ronald Castille cal Read more on The Scranton Times-Tribune
New mortgage rescue plan kicks off
WASHINGTON — The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth. Read more on The Post and Courier
PG&E Among Friday Losers After Explosion
Pacific Gas and Electric Company says crews worked overnight to restore service in affected California areas. Read more on Forbes
Sales still strong, price declines slow
It’s hard to believe the year is 70 percent passed already. Judging from our trends so far, the local real estate market may be headed for greater stability. On the heels of steady declines, first the 16 percent in 2008 followed by the 14 percent in 2009, declines in most of the area served by the Coeur d’Alene Multiple Listing Service have slowed. Read more on Coeur d’Alene Press
Tips to pay off your mortgage faster
Here’s a challenge. How fast could you pay your mortgage off? The sad realisation hit me earlier in the year that I’m not likely to get rich anytime soon. I know – why did I even think that would happen? Read more on Stuff
Business events scheduled for the coming week
MONDAY, Sept. 13 WASHINGTON _ Treasury releases federal budget for August, 2 p.m. TUESDAY, Sept. 14 WASHINGTON _ Commerce Department releases retail sales for August, 8:30 a.m.; Commerce Department releases business inventories for July, 10 a.m.; House Energy… United States Department of Commerce – Business – Washington – United States – Retailing Read more on San Francisco Chronicle
Randy McClain: Record-low mortgage rates spur refinancing
Rock-bottom rates on mortgage loans have ignited another wave of refinancing by consumers in recent weeks, including a lot more folks opting for 15-year fixed loans for the first time. Read more on The Tennessean
Business Highlights
Business Highlights Argentina – Spain – Website – Lionel Messi – Health care Read more on ABC News
Business Highlights
No, the economy isn’t roaring ahead. And no, companies aren’t making lots of job offers. But a fresh batch of economic data Thursday at least eased summertime fears that the economy might be on the brink of another recession. Read more on AP via Yahoo! Finance
Big Step Seen for Bronx Tower Tied to Early Hip-Hop
The apartment building at 1520 Sedgwick Avenue fell into disrepair, but now the mortgage has been sold, a move toward selling the building. Read more on New York Times
Goldman Sachs hit by £17.5m FSA fine
A British watchdog hit the iconic but controversial Wall Street bank Goldman Sachs with a huge fine of 17.5 million pounds in a statement on Thursday for information failures tied to US fraud charges. Read more on AFP via Yahoo! UK & Ireland News
British watchdog hits Goldman Sachs with huge fine
A British watchdog hit the iconic but controversial Wall Street bank Goldman Sachs with a huge fine of 17.5 million pounds in a statement on Thursday, for information failures tied to US fraud charges. Read more on AFP via Yahoo! UK & Ireland Finance
Down economy means business programs boom at area colleges
Despite recession, area colleges diversify business education offerings Despite the recession — or perhaps because of it — local universities have detected steady interest among potential students in business education programs, and have moved quickly in the past couple of years to tailor new offerings. Read more on Baltimore Sun
Rise of a ‘ganjapreneur’
Young Oakland businessman trying to take medical pot mainstream Read more on Contra Costa Times
Property transactions published Sept. 6, 2010
These property transactions were filed with the Saratoga County Clerk’s Office from Aug. 19 to Aug. 31. Property transactions list seller, buyer and transfer tax. Specific addresses are supplied when available. The following are listed by town in the form of seller, buyer and purchase price. Read more on The Saratogian
Lender could end up paying if all fees were not revealed at buyer’s closing
Q: My wife and I purchased a house in Florida last April. This past weekend we received a letter and an invoice from the law office that acted as the parties’ closing agent, informing us that we owed fees for “additional endorsements requested by the lender after the closing.” Real estate – Business – Loan – United States – Mortgage Read more on Washington Post
Fitch Rates Citigroup Mortgage Loan Trust 2010-8, Resecuritization Trust Certificates, Series 2010-8
NEW YORK—-Fitch Ratings has assigned a rating of ‘Asf’ with a Stable Outlook to all Fitch-rated classes of Citigroup Mortgage Loan Trust 2010-8, resecuritization trust certificates, series 2010-8. Read more on Business Wire via Yahoo! Finance
Job agency to meet Penn Lyon workers
Let’s say you are a carpenter working for a modular home company, married and a father of two, living in the Selinsgrove area. Read more on The Daily Item
Mutuals mortgage books grow 10%
Credit unions and building societies’ efforts to grow their home loan books paid off handsomely in 2010, but their growth rates still trail those of the banks. Read more on The Age
Skipton launches new mortgage range
Skipton Building Society has launched a suite of 2 and 5-year fixed rate mortgages. Read more on Mortgage Introducer
Low rates fuel York-area frenzy to refinance mortgages
Bankers are seeing an influx of applications for mortgage refinancing as area homeowners jump to take advantage of record-low interest rates. Read more on The York Dispatch
Bernero says no to banks that won’t lend in Mich.
Democrat Virg Bernero said Thursday he’ll stop the state from doing business with banks that won’t lend in Michigan if he’s elected governor. Read more on AP via Yahoo! News
Three strikes law in play in fraud case
LOS ANGELES, Sept. 2 (UPI) — Prosecutors in Los Angeles say they hope to use California’s three-strikes law against a man who already has two convictions for mortgage fraud. Read more on Utica Daily News
Can mom afford to work only part-time?
Shawn and Mary Kate DeRose live comfortably on a combined $ 133,000 income. They pay their debts, save for retirement, even have room to splurge on dinners out and high-end gym memberships. Read more on CNN Money
TMZ Live: You Got Questions, We Got Answers
We’ll be taking your questions today on everything — including the hostage situation at the Discovery Channel headquarters, Tiger Woods ‘ $ 54 million mortgage, and Rachel Uchitel mourning for the cameras. Submit your questions below — they’ll answer… Read more Read more on TMZ
Forest Grove man gets 5 years probation for elder fraud
Shawn Michael Vilhauer, 45, of Forest Grove, was accused of spending about $ 50,000 of the victim’s money on vacations, mortgage payments, bathroom remodeling and online adult entertainment. Read more on The Oregonian
Shareholder battles over Kingston Flyer
The Kingston Flyer’s biggest shareholder is trying to wrest control off financier Prudential Mortgage, as the dormant heritage train continues to rust on the rails. Read more on Stuff
