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Use of home equity hits a four-year low (MSNBC)
The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values and stricter standards among lenders, Freddie Mac said Thursday.
Carteret couple may see relief over nursing home debt (Asbury Park Press)
An 89-year-old borough woman who is deeply in debt has been inundated with support and offers of assistance since her story ran in the Home News Tribune on Wednesday. Catherine Stonuski, who owes $200,000 in back payments to the nursing facility where her 92-year-old husband lives, received offers of personal loans from strangers, a visit from a county social worker, even a visit from Mayor ...
Home sales drop; stock prices follow (The Philadelphia Inquirer)
NEW YORK - Wall Street abruptly ended an earnings-driven rally and closed sharply lower yesterday after a steeper-than-expected decline in existing-home sales and worries about the financial sector chilled the market's recent optimism.
Dive in Home Sales Cuts Short An Earnings-Driven Rally (Washington Post)
NEW YORK, July 24 -- Wall Street abruptly ended an earnings-driven rally and closed sharply lower Thursday after a steeper-than-expected decline in existing-home sales and worries about the financial sector chilled the market's recent optimism. The major indicators fell about 2 percent, including the Dow Jones industrial average, which lost more than 280 points.
Wachovia faces soaring loan-to-value ratios on its Pick-A-Pay home loans in California (Los Angeles Times)
Blog: The combination of minimal loan payments and falling home prices has jacked up LTV ratios. In the Central Valley, for instance, the average is 109%, the bank says.
Low-income Dallas residents can get home-improvement loans (Dallas Morning News)
Low-income Dallas residents can request applications for forgivable home-improvement loans from the city this week. The city has $1.2 million available to repairs roofs, plumbing, electrical wiring and heating and air-conditioning systems among other things.
Two workshops to address foreclosure, home loans (Modesto Bee)
Homeowners concerned about their loans can get free advice at foreclosure prevention workshops today in Stockton and Saturday in Patterson.
Home sales decline in S.C. (The State)
A weakening economy, skyrocketing gas prices and a tightening credit market continue to drag down home sales statewide and in Columbia, local industry professionals said Thursday. Home sales slipped nearly 17 percent in the Columbia area for the first six months of the year, compared with the same period in 2007, according to data released Thursday by the S.C. Realtors trade group. Statewide, ...
Home loans double for entry buyers (Busselton-Dunsborough Mail)
THE mortgage debt of first-home buyers has more than doubled in the past decade. The snapshot of social trends paints a stark picture of the growing pressures facing hundreds of thousands of people who have recently taken out their first home loan.
Fixed loans get the cold shoulder (Perth Now)
THE demand for fixed rate home loans fell sharply in June as borrowers resisted being locked into high interest rates that may begin to ease again, a new study finds.
