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UPDATE 1-Spanish house sales drop 28 pct in October - Reuters
MADRID, Jan 7 (Reuters) - Spanish house sales plummeted 28 percent year on year in October, marking the eighth straight month of decline, and mortgage lending plunged 41 percent as banks lent less and house prices dropped. The sales slump was sharper ...
Read more...Jumbo mortgage loan rates put damper on refinancing - Boston Globe
While plunging mortgage rates have spawned a frenzy of refinancing, borrowers with larger, so-called jumbo loans are still seeing interest rates in the 7 percent range, prompting many to abandon refinancing plans altogether or resort to creative ...
Read more...previous 1 2 - Baltimore Sun
And refinancing probably won't make sense for borrowers who already have a fixed rate of 5 percent or below. "You have to have some sense of what you're trying to accomplish," said Keith Gumbinger, a vice president at HSH Associates. "For many ...
Read more...Morningstar's picks: Mutual fund managers of the year - Los Angeles Times Blogs
You know it’s an ugly market when the U.S. Stock Fund Manager of the Year loses "only" 19.5%. Investment research firm Morningstar Inc. on Tuesday announced its annual best-of-breed awards for the mutual fund industry. Here they are: --- Domestic ...
Read more...Cash back mortgage fraud fleeces lenders - San Francisco Examiner
Sacramento resident Derek Davis, aka Terry McCullough, pled guilty in a federal court to mail fraud and fraudulently structuring currency transactions in conjunction with a "cash back" real estate loan fraud operation in 2005 and 2006. Davis was ...
Read more...Businesses lobby for forgiven-debt tax break - Daily Business Review
ommercial real estate companies, the U.S. Chamber of Commerce and companies partly owned by private-equity firms are pushing Congress for a temporary tax break on forgiven debt similar to relief given in 2007 to homeowners facing foreclosure. The ...
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