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Michigan Mortgage


AIG fixed; is Michigan next?  News of an estimated $800 billion distressed mortgage buyout plan and an $85 billion takeover of New York-based American International Group Inc.

Economic shifts affect mortgage terms  U.S. mortgage rates are dropping. Good luck getting a loan.

Mortgage lender retools his approach  While others in the industry are shutting down or scaling back operations, the former CEO of Wilmington Finance has started a mortgage company.

Declines in mortgage rates frustrating locked-in borrowers, bankers  A drop in mortgage rates after the rescue of Fannie Mae and Freddie Mac is making buying a house cheaper for many, but also is causing headaches for bankers.

Mortgage firm plans to add staff, new office in Alamo City  Earlier this month, the San Antonio mortgage company that Patrick Gillock co-founded ��� Sonterra Mortgage Capital SMC ��� forged an alliance with Houston-based Republic State Mortgage Co.

Loomis mortgage lender files Chapter 11, moves to San Diego  EquiPoint Financial Network Inc., which got its start in 2004 in Placer County as a vehicle to roll up mortgage companies during the housing boom, is reorganizing itself in bankruptcy court and has moved its headquarters to San Diego.

Is mortgage life insurance smart?  DEAR DAVE ��� My husband and I just bought a great house for $150,000. He makes $50,000 a year, and I make about $30,000. We've been getting lots of different mortgage life insurance offers in the mail. They say they will pay off the house if one of us dies. Do you think we should take advantage of this? Blasha DEAR BLASHA ��� No! These kinds of offers are terrible, unless you're uninsurable. ...

Local mortgage outlook   Sunday marked the last day for the 2008 Parade of Homes here in Central New York. Our Giselle Phelps was at the show over the weekend where she spoke with experts about the shaky mortgage market. She tells us what potential buyers should expect from an economy in transition.

Companies step in after foreclosures put families elsewhere  Michigan's glut of foreclosed homes means green for the companies that maintain these properties. Five Brothers Mortgage Co. in Warren, which offers banks upkeep services on foreclosed homes, has seen its business triple in the last five years.

Treasury Seeks Authority to Buy $700 Billon in Mortgage Assets   Sept. 20 -- The Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments from U.S. financial companies in what would be an unprecedented government intrusion into the markets.

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