Mortgage and Financial News From 2008-5-20 Page 2
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small TOUGH TIMES FOR STARTUPS (The Tampa Tribune)
Launching a small business is never easy, but a combination of a weak economy, a depressed housing market and a drop in home equity may be preventing many small businesses from even opening.
2008-05-20 09:15:32 -
Fayette County (Lexington Herald-Leader)
Fayette Lawsuits Kentucky Employers' Mutual Insurance Co. vs. Roger D. Everman for $9,502, etc., claimed due on an insurance policy. Nuvell Credit Co. vs. Arelle Johnson for $14,237, etc., claimed due on a contract.
2008-05-20 09:21:18 -
Strand not hot spot for mergers (The Myrtle Beach Sun News)
JESSICA FOSTER Bank mergers across the nation are ramping up because of the economic downturn, but population growth - especially among the wealthy retiree community - could help buffer the Grand Strand from consolidations, experts say. The head of Bank of America Corp. - the nation's largest consumer bank - told a group of New York University students this month that tough economic times ...
2008-05-20 09:25:36 -
Impac Mortgage posts $2 bln loss in 2007 on credit woes (Reuters)
(Reuters) - Impac Mortgage Holdings Inc , a struggling mortgage lender, said it lost $2.05 billion in 2007, largely because of mounting credit losses tied to higher delinquencies and defaults as the housing market slumped.
2008-05-20 09:35:05 -
Troubles for a Thrift Institution, Despite Warnings of Its Founder (NYTimes.com via Yahoo! Finance)
The Franklin Bank Corporation appears to have ignored the admonitions of its founder, who had warned for the last few years that the housing market was about to collapse.
2008-05-20 09:38:16 -
The Risks of Rescuing Borrowers (NYTimes.com via Yahoo! Finance)
Senators say the legislation approved on Tuesday to help suffering homeowners refinance costly loans could rescue the housing market, but others say the plan is riskier than it seems.
2008-05-20 09:38:17 -
Reducing dreams: Many Generation Xers unable to save for retirement, purchase houses (Carroll County Online)
At age 30, Bryan Short has, by any standard, achieved professional success since graduating from Boston College and law school at the College of William and Mary. Yet despite his job as a Washington mergers-and-acquisitions lawyer, he's nowhere near as financially secure as he expected to be by now.
2008-05-20 09:39:58 -
Financial Lesson (The Brownsville Herald)
EDINBURG - Oscar Garza is one thesis project and $2,200 away from a master's degree. He's started the thesis, but the 26-year-old Edinburg resident still needs a student loan to pay for supplies and his final class at the University of Texas-Pan American.
2008-05-20 09:48:53 -
Garden State Briefs (The Star-Ledger)
Shares of Sealed Air, the maker of Bubble Wrap packaging, fell after a Merrill Lynch analyst recommended selling the stock because slowing demand and rising costs will squeeze profit.
2008-05-20 09:52:39 -
Economy depresses consumers - News.com.au
The Westpac-Melbourne Institute index of consumer sentiment, released today, rose by 2.7 per cent in May to 89.8 index points, from 87.4 points the previous month. It was the first monthly increase in the index since December last year. But Westpac ...
2008-05-20 07:04:00 -
Fed's Kohn Says Rates Set to Curb Prices, Spur Jobs (Update4) - Bloomberg
May 20 (Bloomberg) -- Federal Reserve Vice Chairman Donald Kohn said the economy should gradually strengthen as the central bank's interest-rate reductions take effect, reinforcing speculation policy makers will refrain from a cut next month ...
2008-05-20 02:53:00 -
U.S. Two-Year Note Yields Stay Near Lowest in Week; IMF `Risks' - Bloomberg
May 20 (Bloomberg) -- Treasury two-year note yields stayed near the lowest in a week after the International Monetary Fund said the U.S. housing slump still poses ``serious risks'' to global financial stability. Yields have fallen from a four-month ...
2008-05-20 05:06:00 -
Dallas County looking for cuts to avoid tax hike this fall 12:38 PM CT (Dallas Morning News)
Dallas County’s budget is $17 million in the red and commissioners are asking all departments to cut as much as they can to try to close the gap and avoid another tax rate increase this fall.
2008-05-20 10:27:41 -
Stocks Drop as Oil Tops $129 a Barrel (NYTimes.com via Yahoo! Finance)
Investors reacted to record oil prices and a report that raised concerns about inflation’s impact on consumer spending.
2008-05-20 10:36:48 -
George Soros: Credit crisis is the worst since the Great Depression (Daily Telegraph)
One of the world's most powerful financial traders has warned that the world is enduring its "worst financial crisis" since the Great Depression and that Britain is heading for a recession.
2008-05-20 04:27:27