11/11/2008 News For:
Mortgage Rate Stated Income
Mortgage lenders' small print ruse to block rate cuts Banks may use the small print in mortgage contracts to prevent borrowers benefiting from future interest rate cuts by the Bank of England.
Perpetual reopens income/mortgage funds Fund manager Perpetual Ltd has re-opened applications for its income and mortgage funds at the request of a number of clients.
Thornburg Mortgage Reports 3Q Earnings SANTA FE, N.M.----Thornburg Mortgage, Inc. , today reported net income for the quarter ended September 30, 2008, of $140.0 million, or $1.23 diluted earnings per common share based on a weighted average of 110.1 million common shares and penny warrants outstanding.
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.
Credit card providers ignore base rate cut While mortgage borrowers will have to wait and see if they stand to benefit from today's 1.5% cut in interest rates, credit card customers have been told not to expect repayments to fall. Although the Bank of England has slashed the base rate to 3%, consumers look set to continue to pay an average APR of more than five times that figure, according to financial data firm Moneyfacts. It ...
Interest-free mortgage possible ? if rates continue sharp falls Some homeowners could be enjoying an interest-free mortgage next year if rates continue to fall steeply, it was disclosed yesterday. Cheltenham & Gloucester, which is part of Lloyds TSB, offered a two-year tracker mortgage of 1.01% below the Bank of England base rate in July and August 2007.
It's time to think about refinancing that high-rate mortgage Many Americans affected by the economic crisis want their unaffordable mortgages reworked through special programs for people facing foreclosure. But you don't have to be in financial trouble to benefit from mortgage refinance, real estate experts say.
Vestin Realty Mortgage II, Inc. Reports Third Quarter Financial Results LAS VEGAS----Vestin Realty Mortgage II, Inc. reported on November 10, 2008, a net loss for the third quarter ended September 30, 2008 of approximately $40.1 million, or per share, on revenues of $3.7 million, compared with net income of approximately $1.5 million or $0.10 per share on revenues of $6.9 million in the comparable period in 2007.
Vestin Realty Mortgage I, Inc. Reports Third Quarter Financial Results LAS VEGAS----Vestin Realty Mortgage I, Inc. reported on November 10, 2008 a net loss for the third quarter ended September 30, 2008 of approximately $6.4 million, or per share, on revenues of $0.4 million, compared with net income of $105,000 or $0.02 per share on revenues of $1.0 million in the comparable period in 2007.
Alistair Darling adds weight to call for banks to pass on rate cut Alistair Darling today insisted it was "essential" that banks pass on today's 1.5% interest rate cut to customers, but Downing Street declined to say if it could force banks to do so. Gordon Brown's official spokesman said the public would "expect" banks to take action. But he added: "We are not going to make specific comments about the specific pricing of individual mortgage products ...
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