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So the news on the street today is that the “Hope Now” alliance, headed by Treasury Secretary Henry Paulson , is playing with the idea of freezing interest rates on some of the sub-prime loans in the market. In a sense this would preserve the teaser rates for a longer period of time allowing owners […]
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Filed under: Mortgage Industry, Market Watch
As if we all didn’t see this coming. Discount brokers are hitting hard times in the market and Foxtons out of New Jersey has stated that it might be headed for bankruptcy. Foxton’s announced that they will be laying off approximately ALL of their staff. I wonder if I can buy one of those cool […]
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Filed under: Mortgage Industry
Major mortgage companies are beginning to falter and effect people on the retail level. CNBC reports that borrowers who have already moved into new homes are finding out that their loans will never close. Since these major mortgage companies are already scrambling to save whats left of their loan portfolio the loans in the […]
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Filed under: Mortgage Industry, Market Watch
