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11/11/2008 News For:

Debt Relief Consolidation Mortgage

Demand For Debt Consolidation Expected To Rise Despite Rate Cut   Borrowers across the UK are still likely to face big debt repayment burdens despite the Bank of England's shock 1.5 per cent cut in interest rates, warns Credit Problems No Problem www.creditproblemsnoproblem.co.uk. Demand for unsecured loans for debt consolidation will continue to rise despite the Bank slashing the base rate to 3.0 per cent, it is predicted.

Bank of America takes on $16.6B debt  The bank has assumed debt from the previously acquired mortgage lender Countrywide as part of the integration process, according to a SEC filing.

BofA assumes Countrywide debt  By Rick Rothacker, Brrothacker@charlotteobserver.com Bank of America Corp. today said it was assuming $16 billion in Countrywide Financial Corp. debt obligations as part of its July 1 acquisition of the mortgage lender. In a securities filing today, the Charlotte bank said it ?transferred substantially all of Countrywide's assets and operations? to Bank of America last week, including ...

Md. Seeks More Mortgage Companies in Relief Effort  ANNAPOLIS , Md. - Gov. Martin O'Malley said Friday he's hoping an agreement with six mortgage servicing companies to help struggling homeowners avoid foreclosure will pressure other companies to join the effort.

BofA assumes Countrywide debt   Bank of America Corp. today said it was assuming $16 billion in Countrywide Financial Corp. debt obligations as part of its July 1 acquisition of the mortgage lender. In a securities filing today, the Charlotte bank said it ?transferred substantially all of Countrywide's assets and operations? to Bank of America last week, including debt securities and related guarantees. ?We have assumed ...

Bank of America to Assume $16.6 Billion of Countrywide Financial Debt  Bank of America BAC: sentiment, chart, options said today that it agreed to assume %2416.6 billion of debt and guarantees from Countrywide Financial, the mortgage lender BAC acquired earlier this year... Read More

GM says GMAC mortgage unit may not survive  DETROIT -- Bad news kept piling up for General Motors Corp. on Monday as its shares plunged to their lowest point in 60 years and the company said in a government filing that the mortgage unit of its finance arm may not survive.

TODAYS DEALS: NorthMarq Capital Arranges $21.5M Mortgage Refinance for Mixed-Use Condo Project  Philadelphia--NorthMarq Capital Inc.?s New York City regional office recently arranged a $21.5 million mortgage refinance of existing debt for a 180,000 sq. ft. mixed-use condominium project located in The Packard Building pictured on the southeast corner of 15th and Chestnut Streets in Philadelphia.

US mortgage finance giant Fannie Mae posts 29 bln dlr loss   Fannie Mae, the US mortgage finance giant bailed out by the government, reported Monday a third-quarter loss of 28.99 billion dollars due to the slump in the real estate sector.

Citigroup Plans to Ease Mortgage Terms for At-Risk Borrowers  Citigroup plans to announce today that it is launching a mortgage-modification program for 500,000 at-risk borrowers in regions facing rising unemployment rates and steep declines in home values.