Mortgage and Financial News From 2008-7-25 Page 01

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• Managing Your Money - Sun-Journal

  People in retirement or approaching retirement are quite naturally concerned with making sure they never outlive their money. Our current era of interest rates and a volatile and unpredictable stock market and world situation makes this dilemma even ...
  2008-07-25 09:49:00

• New homeowners caught in negative-equity loan trap - Independent

  THOUSANDS of first-time buyers are being forced to pay out sky-high mortgage rates because negative equity has trapped them with their current lender. The new buyers, who purchased their houses with 100pc mortgages, are now unable to switch to a ...
  2008-07-22 05:56:00

• How much more foreclosure pain? - Los Angeles Times

  Today's questions: There's evidence that a large percentage of modified mortgages with lower interest rates and loans with new repayment plans are going bad again. What does this say about the housing crisis? Previously, Landsburg and Henwood ...
  2008-07-22 05:56:00

• The Fan/Fred Bailout Is a Scandal - Wall Street Journal

  Americans who work hard, pay taxes and play by the rules can't seem to get fair representation in Washington, D.C., these days. In the current debate over a government bailout of speculators, irresponsible banks, Fannie Mae and Freddie Mac, the ...
  2008-07-25 05:46:00

• Prineville Bancorp Second Quarter Earnings Report (Centre Daily Times)

  Prineville Bancorporation (OTCBB:PNVL), parent company for Community First Bank, today reported its results for the quarter ended June 30, 2008.
  2008-07-25 03:10:27

• San Diego, state monthly home resales up in June (San Diego Daily Transcript via Yahoo! News)

  Home resales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the California Association of Realtors (C.A.R.) reported Friday.
  2008-07-25 06:07:32

• CCH Says Some Taxpayers Will Benefit, Some Will Pay for Housing Bailout Bill (PR Newswire via Yahoo! Finance)

  The Housing and Economic Recovery Act of 2008, designed to reduce foreclosures, strengthen the housing market and shore up lending institutions will also change the amounts many taxpayers owe to the IRS, according to CCH .
  2008-07-25 06:17:00

• Behind a G.O.P. Revolt, Ideology and Politics (New York Times)

  On the housing bill, most House Republicans decided in the end to align with their conservative base.
  2008-07-25 07:27:07

• ElectriCities approves 14 percent rate hike (Rocky Mount Telegram)

  RALEIGH – The ElectriCities board of directors approved a 14 percent wholesale rate increase Friday for municipalities throughout Eastern North Carolina.
  2008-07-25 07:56:21

• National And International Report / General Electric reorganizes into 4 major business units (Pioneer Press)

  General Electric Co., which owns businesses ranging from light bulbs to NBC television, on Friday said it will restructure into four businesses from six, a move Chief Executive Jeff Immelt said will focus the company on growth. Immelt has been under pressure to shake up GE since it shocked investors with disappointing first-quarter earnings. GE's share price has since dropped nearly 22 percent. ...
  2008-07-25 10:24:33

• Running on empty? (The Indianapolis Star)

  Economy, costly gas pose challenges for NASCAR's operations.
  2008-07-25 11:03:54

• Foreclosures Double in Second Quarter as U.S. Home Prices Fall - Bloomberg

  July 25 (Bloomberg) -- U.S. foreclosure filings more than doubled in the second quarter from a year earlier as falling home prices left borrowers owing more on mortgages than their properties were worth. One in every 171 U.S. homeowners lost their ...
  2008-07-25 02:15:00

• ‘We tell them they have to cut down’ (Pawtucket Times)

  PAWTUCKET — The old expression “Don’t put off until tomorrow what you can do today” applies to many things, but it is advice that should definitely be taken to heart by anyone facing foreclosure.
  2008-07-25 09:53:51

• Senate could pass housing rescue today (The Standard-Times)

  Senate could pass housing rescue today
  2008-07-25 10:08:36

• Boscov's boss says chain is ailing, not failing (Reading Eagle)

  With the retail industry facing a perfect storm of economic ills, the chairman and chief executive of Exeter Township-based Boscov's Inc. acknowledged Friday that the firm is struggling, but denied a published report that it is close to collapse.
  2008-07-25 10:11:29

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