KnowledgePlex News
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Home Buyers Can Easily Find Money for Mortgages or Refinancing 
Credit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been - with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan with less than a 20 percent or 30 percent down payment? Or with a credit score below 720?KnowledgePlex News, 2008-10-27 04:41:43
Credit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been - with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan with less than a 20 percent or 30 percent down payment? Or with a credit score below 720?KnowledgePlex News, 2008-10-27 04:41:43
Mortgage Crisis Rescue 'Schemes' Prompting Lawsuits
It was supposed to be their dream home, but corporate downsizing and other unforeseen circumstances made it clear to the Ocean County couple they could no longer afford their $409,000 mortgage.KnowledgePlex News, 2008-10-27 04:41:43
It was supposed to be their dream home, but corporate downsizing and other unforeseen circumstances made it clear to the Ocean County couple they could no longer afford their $409,000 mortgage.KnowledgePlex News, 2008-10-27 04:41:43
Freeze Lifted on Grant Money
The federal Department of Housing and Urban Development has lifted a spending freeze placed on the Community Development Department in May. The freeze was a direct result of two scathing audits of the Community Development Department by the U.S. Inspector General's Office last year. The freeze was placed on Community Development Block Grant spending, which stalled the second phase of improvements to the closed Aldenville Fire Station, along with street, park and other projects. "It means we'll now be able to go forward on projects," Mayor Michael D. Bissonnette said on Friday ...KnowledgePlex News, 2008-10-27 04:41:43
The federal Department of Housing and Urban Development has lifted a spending freeze placed on the Community Development Department in May. The freeze was a direct result of two scathing audits of the Community Development Department by the U.S. Inspector General's Office last year. The freeze was placed on Community Development Block Grant spending, which stalled the second phase of improvements to the closed Aldenville Fire Station, along with street, park and other projects. "It means we'll now be able to go forward on projects," Mayor Michael D. Bissonnette said on Friday ...KnowledgePlex News, 2008-10-27 04:41:43
O.C. Housing Sales Jump 62% Compared with a Year Ago as Prices Continue to Decline
Orange County homebuying rebounded last month at the fastest pace in about 20 years. Homebuyers grabbed 2,667 houses, condos and new residences, up 62 percent from a year ago, reports MDA DataQuick. That's the biggest year-over-year gain in DataQuick's 20-year history. Local homebuying exceeded year-ago levels for the third straight month in September, a noteworthy switch after a 33-month streak of slumping sales. A year ago, a then-mortgage-only credit crunch prevented some buyers from qualifying for a loan.KnowledgePlex News, 2008-10-27 04:41:43
Orange County homebuying rebounded last month at the fastest pace in about 20 years. Homebuyers grabbed 2,667 houses, condos and new residences, up 62 percent from a year ago, reports MDA DataQuick. That's the biggest year-over-year gain in DataQuick's 20-year history. Local homebuying exceeded year-ago levels for the third straight month in September, a noteworthy switch after a 33-month streak of slumping sales. A year ago, a then-mortgage-only credit crunch prevented some buyers from qualifying for a loan.KnowledgePlex News, 2008-10-27 04:41:43
Officials Eye Vacant Buildings
The town's code enforcement officer is facing a growing issue with multifamily buildings that have been foreclosed and abandoned, which now stand as vacant, potential trouble spots for vandalism or mischief by adventurous youngsters. "We have a number of vacant and abandoned properties that are popping up," said Scott F. Koczela, Adams code enforcement officer. "Some of them we know about and some of them we don't. Overnight, they're being foreclosed and people are just moving out and leaving them." Most of the foreclosures were on subprime predatory loans gone ...KnowledgePlex News, 2008-10-27 04:41:43
The town's code enforcement officer is facing a growing issue with multifamily buildings that have been foreclosed and abandoned, which now stand as vacant, potential trouble spots for vandalism or mischief by adventurous youngsters. "We have a number of vacant and abandoned properties that are popping up," said Scott F. Koczela, Adams code enforcement officer. "Some of them we know about and some of them we don't. Overnight, they're being foreclosed and people are just moving out and leaving them." Most of the foreclosures were on subprime predatory loans gone ...KnowledgePlex News, 2008-10-27 04:41:43
Countywide Symposium to Focus on Foreclosure Crisis
On October 30, 2008, the City Heights Foundation in collaboration with the FDIC, the Federal Reserve Bank of San Francisco, the Office of the Comptroller of the Currency, and a local agency task force will be hosting a symposium titled, "Developing a Regional Plan for Neighborhood Stabilization: Focus on San DiegoCounty" that will be addressing the foreclosure crisis in San Diego County. The invitation only event will take place from 7 a.m. to 4 p.m. at the Joan B. Kroc Institute for Peace & Justice at the University of San Diego. The symposium will bring together over 100 local representatives ...KnowledgePlex News, 2008-10-27 04:41:43
On October 30, 2008, the City Heights Foundation in collaboration with the FDIC, the Federal Reserve Bank of San Francisco, the Office of the Comptroller of the Currency, and a local agency task force will be hosting a symposium titled, "Developing a Regional Plan for Neighborhood Stabilization: Focus on San DiegoCounty" that will be addressing the foreclosure crisis in San Diego County. The invitation only event will take place from 7 a.m. to 4 p.m. at the Joan B. Kroc Institute for Peace & Justice at the University of San Diego. The symposium will bring together over 100 local representatives ...KnowledgePlex News, 2008-10-27 04:41:43
Blaming the Victims: The Mortgage Crisis has Little to do with Helping the Poor
The current mortgage crisis does not lack for finger pointing. The most troubling accusations come from those who have confused irresponsible lending with efforts to provide equal access to credit. A recent example can be found in an Oct. 6 Post-Gazette column by Ruth Ann Dailey: "The subprime mortgage mess is primarily the result of left-wing wishes becoming political practice." Subprime loans are designed to provide credit to borrowers with a flawed or limited credit history. They have a higher interest rate than a prime loan in order to compensate for the increased risk of default ...KnowledgePlex News, 2008-10-27 04:41:43
The current mortgage crisis does not lack for finger pointing. The most troubling accusations come from those who have confused irresponsible lending with efforts to provide equal access to credit. A recent example can be found in an Oct. 6 Post-Gazette column by Ruth Ann Dailey: "The subprime mortgage mess is primarily the result of left-wing wishes becoming political practice." Subprime loans are designed to provide credit to borrowers with a flawed or limited credit history. They have a higher interest rate than a prime loan in order to compensate for the increased risk of default ...KnowledgePlex News, 2008-10-27 04:41:43
Treasury Secretary Paulson Responds to the Economic Crisis
CHARLIE ROSE: Welcome to the broadcast. Tonight, Henry Paulson, the U.S. secretary of the treasury, a man at the center of the decision-making about the U.S. and global economic crisis. HENRY PAULSON, SECRETARY OF THE TREASURY: I think we need a global financial infrastructure to deal with these imbalances, deal with currency issues and other related issues, because if the world looks back on this and said, oh, this was about the U.S. and sub prime, they will have missed the point and well be dealing with this problem again. ROSE: Hank Paulson for the hour, next.KnowledgePlex News, 2008-10-27 04:41:43
CHARLIE ROSE: Welcome to the broadcast. Tonight, Henry Paulson, the U.S. secretary of the treasury, a man at the center of the decision-making about the U.S. and global economic crisis. HENRY PAULSON, SECRETARY OF THE TREASURY: I think we need a global financial infrastructure to deal with these imbalances, deal with currency issues and other related issues, because if the world looks back on this and said, oh, this was about the U.S. and sub prime, they will have missed the point and well be dealing with this problem again. ROSE: Hank Paulson for the hour, next.KnowledgePlex News, 2008-10-27 04:41:43
Beaverton Low-Income Housing OK'd
Advocates for low-income housing have persuaded the City Council ?including at least one skeptic ?to let a nonprofit agency build apartments on a city-owned downtown lot. At Monday night's public hearing, the council heard that the city's total investment in what is being called Old Town Crossing could reach $3 million.KnowledgePlex News, 2008-10-27 04:41:43
Advocates for low-income housing have persuaded the City Council ?including at least one skeptic ?to let a nonprofit agency build apartments on a city-owned downtown lot. At Monday night's public hearing, the council heard that the city's total investment in what is being called Old Town Crossing could reach $3 million.KnowledgePlex News, 2008-10-27 04:41:43
Putting the Brakes on Foreclosures
A week into the big bailout, banks are beginning to charge each other less for loans and companies are finding it easier to borrow short term. The Dow has been up and down, but so far this week, it is back above 9,000. So has the worst passed? Probably not.KnowledgePlex News, 2008-10-27 04:41:43
A week into the big bailout, banks are beginning to charge each other less for loans and companies are finding it easier to borrow short term. The Dow has been up and down, but so far this week, it is back above 9,000. So has the worst passed? Probably not.KnowledgePlex News, 2008-10-27 04:41:43