Mortgage and Financial News From 2008-1-17 Page 11

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  • GM to Cut Annual U.S. Labor Costs $5 Billion by 2011 (Update3)

    Bloomberg - GM also said that it expects GMAC LLC, the finance company in which it holds a 49 percent stake, will be profitable this year, with reduced losses at the Residential Capital home- mortgage unit. GMAC said in regulatory filing today that it probably ...
    2008-01-17 01:29:00

  • Banks buy crumbling CDOs to stem losses

    Reuters - Banks overall have announced about $90 billion in write-downs and losses due to defaults on U.S. home mortgage payments. More writedowns are expected, but banks' purchases of CDO assets also suggest they continue to see value in the downtrodden ...
    2008-01-17 09:25:00

  • Judge allows casino caucuses to proceed

    CNN - Get on your television station and say, 'I don't care about the home mortgage crisis, all I care about is making sure that some voters have it easier than others, and that when they do vote, when it's already easier for them, their vote should count ...
    2008-01-17 02:33:00

  • Median Home Price Tumbles in California

    Houston Chronicle - Meanwhile, home sales in the state, one of the hardest hit in the nation by the mortgage crisis, plummeted 41.4 percent to 25,585 compared to December 2006. It was the lowest sales total for any December in more than 20 years, the firm said. December ...
    2008-01-17 03:38:00

  • Texas Supreme Court justice indicted in fire at his home, allegedly ...

    International Herald Tribune - Investigators became suspicious after discovering that a mortgage company sued in June 2006 to foreclose on the home. The suit, filed after the family missed payments for five months, was settled in December. It was the second fire at the home in 10 ...
    2008-01-17 04:42:00

  • Bill Clinton Berates Reporter In Calif.

    Guardian Unlimited - Get on your television station and say, 'I don't care about the home mortgage crisis,''' he berated Mathews. On Thursday, a federal judge threw out the lawsuit. A union with ties to Hillary Clinton had tried to prevent casino workers from caucusing ...
    2008-01-17 06:29:00

  • Mortgage rates drop

    Reuters India - Jan. 17 - There may be some relief for home owners who can refinance, but the housing market remains weak. Mortgage rates dropped to their lowest rate in 2 years. While this may allow some borrowers to trade their adjustable rate mortgages for fixed ...
    2008-01-17 05:54:00

  • Mortgage crunch slashes San Francisco home sales

    Reuters - SAN FRANCISCO, Jan 17 (Reuters) - Home sales in and around San Francisco plunged in December to their lowest level on record for the month amid a steep drop in the number of "jumbo" mortgages issued to buyers, according to a report released on ...
    2008-01-17 03:52:00

  • Fearful investors sell off shares - Press-Enterprise

    Fearful investors sell off sharesPress-Enterprise, CA - 1 hour agoThe economic concerns come in a week in which some of Wall Street's biggest names have posted huge losses following bad bets on mortgage investments. ...
    2008-01-17 07:47:44

  • Weaker economy not hurting employers' graduate recruiting plans ... - Press-Enterprise

    Weaker economy not hurting employers' graduate recruiting plans ...Press-Enterprise, CA - 1 hour ago"We'll all be paying attention to the mortgage meltdown and what's happening to the stock market," Williams said. "There are a lot of weak economic signs ...
    2008-01-17 07:47:45

  • Martin Luther King Day Rally & Speakout Against Racism - Axis of Logic

    Martin Luther King Day Rally & Speakout Against RacismAxis of Logic, MA - 1 hour agoOn this King Holiday we must organize and march against the forces of racism, reaction and war, not just the war abroad but the war raging here at home. ...
    2008-01-17 07:48:20

  • Economist: No recession... probably - North County Times

    Economist: No recession... probablyNorth County Times, CA - 1 hour agoAnd while San Diego County's economy can no longer count on construction and soaring home equity as cushions against a national downturn, the region's ...
    2008-01-17 07:56:19

  • There Is No Credit Crisis, No Recession And That Is Why Gold Is ... - Gold Seek

    There Is No Credit Crisis, No Recession And That Is Why Gold Is ...Gold Seek - 1 hour agoThe sub prime mortgage melt down and future ramifications are very real and the major financial institutions associated with all the second and third level ...
    2008-01-17 07:56:57

  • Murmurings Of Despair... - Gold Seek

    Murmurings Of Despair...Gold Seek - 1 hour agoFor example, you could buy securitized mortgage bonds priced to yield 8 percent over the next three years -- even if every home in the bundle gets ...
    2008-01-17 07:57:02

  • Texas Supreme Court justice indicted - Austin American-Statesman

    Texas Supreme Court justice indictedAustin American-Statesman, TX - 1 hour agoThe fire was ruled suspicious by the Harris County Fire Marshal's Office because a fire investigation dog detected an accelerant and because a mortgage ...
    2008-01-17 07:57:40

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