Mortgage and Financial News From 2008-3-10 Page 9

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• Bear Stearns Shares Fall on Liquidity Speculation (Update6) (Bloomberg.com)

  March 10 (Bloomberg) -- Bear Stearns Cos. denied that the firm lacked sufficient access to capital, after speculation about a liquidity crisis pushed the stock down 11 percent in New York trading, the most since the 1987 stock market crash.
  2008-03-10 02:55:14

• Source: Lehman to Trim Work Force (AP via Yahoo! Finance)

  Lehman Brothers Holdings is laying off 1,425 employees -- about 5 percent of its global work force -- as the deepening crisis in financing takes its toll, a person familiar with the plan said Monday.
  2008-03-10 02:57:30

• CAB warns: Don't sell your home cheaply

  Chichester Observer - He said free and independent advice about mortgage arrears was available from the CAB next to the town hall in Clarence Road between 10am and 4pm Monday to Friday.
  2008-03-09 01:48:00

• It's debt freedom day (but don't get too excited)

  International Herald Tribune - ... advice, said: "This year's 'debt freedom day' is a real warning for UK consumers. "Compared to last year we have spent almost two months longer this year to pay off the interest on our borrowings and this doesn't even take into account mortgage costs.
  2008-03-09 05:16:00

• Commercial Bank of Dubai challenges UAE home loan rates

  AME Info - The 23 mortgage lenders in the UAE have been slow to adjust to falling central bank discount rates, and profit margins on home ... The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Communications ...
  2008-03-09 10:02:00

• RE/MAX CEO blames Wall Street for mortgage crisis

  KUSA-TV - DENVER - The CEO of RE/MAX International says Wall Street is the primary culprit behind the country's mortgage crisis because ... His advice to those currently facing foreclosure is to do what three-quarters of Americans in that position do not: contact ...
  2008-03-09 03:43:00

• Charles Schwab to Host Full-Day Trading Forum in Dallas, TX

  Forbes - ... investment services and products including an extensive selection of mutual funds; financial planning and investment advice ... The Charles Schwab Bank, (member FDIC) provides banking and mortgage services and products.
  2008-03-10 05:33:00

• Rocky times bracket top man

  Baltimore Sun - ... later, as he prepares to retire, the economy is in a mess again. This time, it's for different reasons - subprime mortgage ... And he has this advice for his successor Wynaendts. "I told him, 'Don't ask me for advice.
  2008-03-10 04:07:00

• No mercy shown to struggling homeowners

  News.com.au - HOMEOWNERS who fall behind in mortgage payments and face repossession are being charged up to $244 a day interest by lenders. ... Advice given on this site is general advice and does not take into account your objectives, financial situation or needs.
  2008-03-09 03:26:00

• Countrywide slump amid reports of Federal probe; BofA says deal still ...

  CNBC - ... suspected securities fraud, inquiring as to whether CFC misrepresented its financial condition and the quality of its mortgage ... the company quantified the legal liabilities Countrywide faces, the CEO said, "well, all I can say is we had a lot of advice ...
  2008-03-10 08:18:00

• Educate yourself: An Obama-Rezko primer

  CNBC - ... Rezko's advice as a real estate developer and even toured the property with him but got no financial assistance from Rezko. Instead, Obama paid $1.65 million for the house in June 2005 by using money from a book contract and taking out a mortgage.
  2008-03-10 09:37:00

• Taxman bankrupted me over 88p debt

  This is Money - In the weeks that followed the couple's joint bank account was frozen, their mortgage company took out a possession order on ... Read our advice on responsible borrowing
  2008-03-10 09:08:00

• Recap of Saturday, March 8

  FOX News - ... STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE ... Fed head Ben Bernanke says: banks should help out homeowners who can't afford their mortgages... by reducing their mortgage ...
  2008-03-10 10:05:00

• Some house hunters may need incentive

  Chicago Tribune - No, we're not dispensing decorating advice. This spring, anxious home sellers may want to consider offering financing incentives, such as cash to cover closing costs or to buy down the mortgage rate.
  2008-03-10 12:21:00

• Freedom from debt is best stimulus plan (SaukValley.com)

  I'm curious as to how you feel about the government's stimulus tax rebate plan. Our household income is over the maximum income amount to receive the rebate, so we'll be getting nothing but the bill - again. It seems that those who will receive this money are encouraged to do nothing but spend it.
  2008-03-10 09:02:59

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