Mortgage and Financial News From 2007-9-7 Page 17

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  • National Australia rescues unit caught in credit rout

    Turkish Daily News - National Australia Bank Ltd., the nation's largest, moved funding for A$6 billion ($4.9 billion) of loans onto its balance sheet, rescuing a unit that was unable to refinance amid the shakeout in the short-term debt market. The move will reduce ...
    2007-09-07 12:52:00

  • Aussie health company in $475m UK deal

    News.com.au - It says ANZ and NAB have underwritten a fully committed debt package of around $2 billion, which will be used in part to refinance existing facilities and fund brownfields capital spending. The acquisition is expected to close in the second quarter ...
    2007-09-06 08:55:00

  • Asian Stocks Decline, Led by Mizuho, on U.S. Housing Concern

    Bloomberg - National Australia Bank said yesterday it was forced to rescue several investment vehicles unable to refinance short-term debt. Australia's Basis Capital Fund Management Ltd. last month sought bankruptcy protection for its second-biggest hedge fund ...
    2007-09-06 11:47:00

  • Florida foreclosures grow

    Miami Herald - Along with flagging real estate values, those tighter standards have made it harder for distressed homeowners to refinance. Prospective buyers, too, are having a tougher time finding loans. Some lenders have established premium pricing on loans made ...
    2007-09-07 12:02:00

  • Network Rail, Austria Plan Sales of Debt: European Bond Alert

    Bloomberg - ENEL SPA, Italy's largest utility, plans to sell as much 10 billion euros of bonds to refinance debt, the company said in a statement. Enel, based in Rome, will issue the debt itself or through its Luxembourg-based Enel Finance International SA ...
    2007-09-07 12:09:00

  • Credit squeeze puts brakes on rates

    MSNBC - This means banks are continuing to hoard money in case they need to lend to companies and financial vehicles that might have to draw on emergency credit lines if they cannot refinance their debts. Banks and other financial institutions will attempt to ...
    2007-09-07 12:37:00

  • Howard art dealer gets 6 1/2 -year term

    Baltimore Sun - He lost the principal and had to refinance again, "and now has to sell the home in which he has lived for 19 years because Mr. Akins stole his money," the court documents say. Prosecutors also said Akins persuaded people to tell their friends that ...
    2007-09-07 01:06:00

  • Foreclosure rates climb

    Baltimore Sun - Duncan, of the MBA, said turmoil that has emerged in the credit markets since the end of the second quarter has further limited borrowing options for homeowners wanting to refinance high-cost loans. And that means, he said, more increases in ...
    2007-09-07 01:20:00

  • Ramsay Health Care Announces Ramsay Health Care Acquires Capio UK (RHC.AX, 00757138, 20070907) (Aspect Huntley via Yahoo!7 Finance)

    Ramsay Health Care announced it has agreed to acquire Capio AB's market-leading United Kingdom operations ("Capio UK") for 193m pounds ($474m), providing a solid platform for expansion in the UK and Europe. The acquisition will be funded by debt. ANZ and NAB have underwritten a fully committed debt package of around $2bn which will be used to refinance existing facilities and fund brownfields ...
    2007-09-06 03:37:00

  • Be wary of using your home equity to pay off your consumer debt (Asheville Citizen-Times)

    You can't turn on your television or radio without being bombarded with ads from financial institutions urging you to refinance your home. You've heard them: Cut your interest rate, lower your payments, no closing costs.
    2007-09-06 10:07:26

  • TANKING LOANS HIT RECORD (New York Post)

    The rate of U.S. home loans in foreclosure rose to a record high in the second quarter of 2007 as more homeowners in California, Florida and other states could not refinance their adjustable-rate mortgages, a trade group said yesterday. The...
    2007-09-07 03:06:29

  • Central banks act to bolster credit markets (FT.com via Yahoo! News)

    European central banks held interest rates steady on Thursday as fears mounted that banks and other financial institutions would struggle to refinance loans that fall due next week.
    2007-09-06 11:35:31

  • Rate of Home Foreclosures Hits Record (New York Times)

    The rate of home loans in foreclosure rose to a record level in the second quarter of 2007 as more homeowners in California, Florida and other states could not refinance their adjustable-rate mortgages.
    2007-09-06 09:05:09

  • RECENT COMMENTS

    Outside Beltway - On the flat tax: it isn't the marginal tax rate that counts, it's how you calculate income. There is simply no way to get ... The Home Mortgage tax deduction - no more deduction your mortgage interest - no incentive to buy a house. 2. The Per-Child ...
    2007-09-06 04:45:00

  • ECB provides emergency funds to money markets

    International Herald Tribune - Banks have shied away from lending over the past month as they scrambled to calculate exposure to mass defaults on the U.S ... Countrywide Financial Corp, the largest U.S. mortgage lender, said on Wednesday it would cut 900 jobs across the country ...
    2007-09-06 09:43:00

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