Mortgage and Financial News From 2008-7-17 Page 3
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Merrill Lynch gets dunked again by mortgage write-offs - Los Angeles Times Blogs
Merrill Lynch & Co. just threw cold water on the idea that the housing crisis was letting up on Wall Street. Better-than-expected second-quarter earnings from Wells Fargo & Co. on Wednesday and JPMorgan Chase & Co. this morning had boosted hopes that ...
2008-07-17 04:36:00 -
It costs what?! Calculating the CPI requires a lot of shopping around (Los Angeles Times)
The consumer price index, used to gauge inflation, has jumped 5% since June 2007. Figuring it out means the Bureau of Labor Statistics staff must collect prices for items such as pizza, laptops and cars. Kim Gomory treks more than 850 miles each month, stopping by more than 120 grocers, gas stations, restaurants, stores, health clubs and other businesses.
2008-07-16 02:06:23 -
Are You Living Beyond Your Means? [Reader Poll] (Lifehacker)
Claiming personal savings rates are the lowest they've been since the Great Depression, Yahoo Finance sets out to identify five signs that you're living beyond your means. For example: More Than 28%...
2008-07-16 04:18:31 -
More Raiding Retirement Funds Amid Economic Woes (WBZ Boston)
As the economy heads south, and our expenses head north, financial investors report more people are dipping into their retirement savings.
2008-07-16 08:24:01 -
Despite failures, banks offer safeguards for depositors (Courier-Post)
The federal takeover of IndyMac, a California-based mortgage lender that had $32 billion in assets, has led a lot of folks to wonder whether their own bank will be the next victim of the credit crunch.
2008-07-17 12:24:38 -
Builder Confidence Declines Further In July (BuildingOnline)
Builder confidence in the market for newly built single-family homes fell for a third consecutive month in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released this week.
2008-07-17 08:22:03 -
Citizens Republic Bancorp Announces Second Quarter 2008 Results in Line With Revised Expectations and Expects ... (PR Newswire via Yahoo! Finance)
Citizens Republic Bancorp reported today results in line with revised guidance from June 2008, when Citizens announced a non-cash goodwill impairment charge and a credit writedown that together totaled $220.5 million .
2008-07-17 01:07:00 -
Burns: Buying back Social Security benefits can pay (Houston Chronicle)
Q: I am 73 and have investigated buying back the Social Security benefits I took at age 62.
2008-07-17 10:52:12 -
Federal Home Loan Bank of New York Declares a Second Quarter Dividend ... - Extra Bilingual Community Newspaper
NEW YORK, July 17 /PRNewswire-HISPANIC PR WIRE/ -- The following dividend and unaudited results statement is being issued by the Federal Home Loan Bank of New York: I am pleased to report that our Board of Directors has approved the dividend rate for ...
2008-07-17 04:44:00 -
California's median home price plummets in June - Forbes
Housing data show the median price of a home in California plummeted 31.5 percent in June compared with the same month last year as languishing properties began settling for less, a real estate tracking firm said Thursday. DataQuick Information ...
2008-07-17 04:29:00 -
California officials expand Countrywide lawsuit - Los Angeles Times
Countrywide Financial Corp., which faltered earlier this year under the weight of soured mortgages, made a practice of doling out bonuses to employees who sold risky loans, California officials alleged in an amended lawsuit Thursday. The allegations ...
2008-07-17 06:38:00 -
Trying to Track Mortgage Mess - Wall Street Journal
Which states have been hardest hit by the mortgage crisis? It depends on who is doing the counting, and how. Colorado and Georgia continually rank in the top 10 nationwide, according to a well-publicized monthly ranking of the number of foreclosure ...
2008-07-17 06:52:00 -
Morgan Reports a Drop of 53% in Quarterly Net - New York Times
The bank set aside an additional $1.3 billion to cover future loan losses as the housing market and the economy worsen. JPMorgan marked down the value of unsold buyout loans and complex mortgage investments by about $1.1 billion.
2008-07-17 08:26:00 -
County foreclosures jumped by almost half for filing deadline (McKinney Courier-Gazette)
The percentage of Collin County home foreclosures rose this month compared to last year.
2008-07-17 08:01:52 -
Mortgage troubles? Phone counseling available - Everett Herald
The Neighborhood Assistance Corporation of America is doing something that should have been done a long time ago. Beginning Saturday, the nonprofit housing advocacy organization begins a free five-day "Save the Dream of Homeownership" event in ...
2008-07-16 11:54:00