Mortgage and Financial News From 2008-8-14 Page 01

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• Give us shelter - Los Angeles Times

  You have to say this for the mortgage-lending meltdown: It's impressive how relentless the bad news has been. Even as other parts of the financial industry show signs of bottoming out -- for example, Thursday's agreements by Citigroup and Merrill ...
  2008-08-10 05:55:00

• Housing Rebound in Cleveland Means Bad News for U.S. (Update2) - Bloomberg

  Aug. 14 (Bloomberg) -- The good news in the worst housing slump since the Great Depression is that the market in Cleveland is recovering. That's also the bad news. The Cleveland area led the nation for home price gains in April and May with an 18 ...
  2008-08-14 11:38:00

• Resale home prices slide as housing market weakens (CTV.ca)

  Resale home prices and sales slid in Canada's major markets last month, while listings roared ahead, more signs the market is weakening, according to a Canadian Real Estate Association report.
  2008-08-14 03:49:52

• Resale home prices slide as housing market weakens (CTV Toronto)

  Updated: Thu Aug. 14 2008 6:30:29 PM The Canadian Press
  2008-08-14 04:05:55

• Belated Withdrawal From Risk (New York Times)

  Sometimes what appears to be best for every individual is bad for the group. Now is such a time in the banking business.
  2008-08-14 04:59:17

• Mortgage companies reach out to flood victims (The Gazette)

  Three major mortgage companies extended an olive branch to Iowa flood victims Thursday.Wells Fargo Mortgage, Citi, and Bank of America, which recently bought Countrywide Home Loans, urged customers who are flood victims to contact their loan servicer and explain their situation. They are typically offering grace periods of one to three months with no payments, and in some cases are changing ...
  2008-08-14 05:06:31

• Wescom closing two O.C. branches (Orange County Register)

  Fullerton and Mission Viejo branch to be shut by Sept. 12.
  2008-08-14 05:44:32

• What if we all got money-smart? (MSN Money Canada)

  Imagine if everyone controlled spending, paid down debts and saved for retirement. The immediate effects would be ugly, but eventually the new habits could pay off.
  2008-08-14 09:13:49

• Feeling the economic pinch? Click here to find out what's costing you more (Island Packet)

  Inflation is running at the fastest pace in 17 years, the job market is under further strain and foreclosure filings are increasing.
  2008-08-14 10:05:55

• Foreclosures clogging metro housing market (Pioneer Press)

  One in four homes sold in the Twin Cities in March through June was in some stage of being repossessed, a foreclosure report out Thursday shows, up from fewer than one in 10 a year ago.
  2008-08-14 10:19:09

• Idaho foreclosures rise again (Idaho Press-Tribune)

  CANYON COUNTY -- A national firm reports that Idaho foreclosures rose nearly 41 percent from June to July and 121 percent from the same period last year.RealtyTrac's market report ranked Idaho at the 15th highest rate of filings among U.S. states for the month of July. But a local bank officials says the foreclosure trend isn't as bad in the Treasure Valley.The RealtyTrac report showed 513 Gem ...
  2008-08-14 10:51:21

• With advertising, banks encouraged Americans to go deeper into debt (International Herald Tribune)

  Home equity loans, once seen as the borrowing of last resort, have had thousandfold growth as banks have spent billions of dollars to advertise them.
  2008-08-14 08:53:36

• U.S. foreclosure filings surge 55 percent in July (Columbus Ledger-Enquirer)

  Associated Press
  2008-08-14 09:01:18

• Home Equity Frenzy Was a Bank Ad Come True (New York Times)

  Home equity loans, once seen as the borrowing of last resort, have grown a thousandfold since banks began spending billions of dollars to advertise them.
  2008-08-14 09:07:00

• Foreclosure picture looks gloomier (The Kansas City Star)

  The number of properties in foreclosure filings in July was up 55 percent from a year ago and up 8 percent from June, RealtyTrac reported Thursday.
  2008-08-14 09:07:07

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