Report finds U.S. mortgage problems increasing Apr 3, 2009
7 percent of people whose loan payment were reduced by more than 10 percent had fallen behind by 60 days or more ... 8 percent of people whose loan payments had increased were 60 days or more delinquent. (San Francisco Chronicle -- Business)
MGM Looking for Partners for CityCenter Apr 3, 2009
Just last week, the current partner, Dubai World, did not come up with $100 million to cover their half of a loan payment on the project ... Just last week, the current partner, Dubai World, did not come up with $100 million to cover their half of a loan payment on the project. (KLAS-TV.com, NV)
Oakland As, S.F. Giants vs. slump Apr 3, 2009
Their money helps the team pay its roughly $18 million annual loan payment for the privately financed AT&T Park. Unlike many teams in baseball, the Giants only sell season tickets for all the team s 81 home games. (East Bay Business Times, CA)
Your views: Economic unrest Apr 2, 2009
The Federal Reserve was persuaded to reduce interest rates to bank and lending institutions to make more expensive housing available at near-existing loan payment levels. When responsible borrowers fulfilled their upgraded housing needs and the market slowed, the Fed was persuaded to continue to lower interest rates. (Florida Today)
Estate Planning - Budget as Part of an Estate Plan Apr 1, 2009
I know "budget" is a nasty word in the minds of a lot of people, but without a budget you just don't have a plan. You simply have money and you spend it with perhaps nothing to show for it. (Missourian Publishing, MO)
MGM Mirage Makes Required Payment For CityCenter Mar 28, 2009
MGM Mirage averted disaster Friday when it made a $200 million loan payment on Project CityCenter. MGM's partner in the project, a subsidiary of Dubai World, did not come up with its half of the payment so MGM paid it for them. (KLAS-TV)
Bi-Lo chain files for bankruptcy Mar 24, 2009
com Grocery chain Bi-Lo Monday filed for Chapter 11 bankruptcy protection to avoid closing as it faces a loan payment ... Grocery chain Bi-Lo Monday filed for Chapter 11 bankruptcy protection to avoid closing as it faces a loan payment. (Athens Banner-Herald)
Mokulele now 50%-owned by Republic Mar 21, 2009
In February, Mokulele had trouble making a $300,000 loan payment to Republic as part of a service agreement in October 2008 to add four 70-seat Embraer 170 jets for interisland service between Honolulu, Lihue on Kauai, and Kona on the Big Island. Republic also supplied an $8 million line of credit to Mokulele as part of the agreement. (Pacific Business News, HI)
Court order aids 13 Valley apartment complexes Mar 20, 2009
It's a move that could force foreclosures for investors who bought at the market's peak, even if they never missed a loan payment. The practice is unheard of in the single-family housing market, and Congress needs to stop it, Simplot said. (AZCentral -- News)
NUGS Press release Mar 20, 2009
The secretariats have had all the patience in demanding for the loan payment and now WOULD WANT TO RESORT TO A MORE STRINGENT APPROACH IN ORDER TO HAVE OUR LOANS. Information reaching us from our research team indicates that FUNDS ARE UNAVAILABLE TO THE SLTF FOR DISBURSEMENT. REASON: GETFUND HAS NOT RELEASED FUNDS TO THE LOAN TRUST FUND GETFUND BOARD WAS DISSOLVED AND RECONSTITUTED FUNDS HAVE NOT BEING RELEASED BY GOVERNMENT.. ROOT CAUSE IS THE DELAY BY GOVERNMENT WE ARE CALLING ON ALL... (Ghana Web, Ghana)
Financial management service now being offered Mar 12, 2009
If necessary, counselors can contact creditors to work out loan payment agreements, at no cost to the member. We strive to provide our members with services to meet all aspects of their financial needs, said Grinde. (Forest Republican, WI)
New house in Candler Park going geothermal Mar 10, 2009
The installer in Candler Park, GeoThermal Energy Systems of Norcross, says the couple s monthly energy savings will be about $60 greater than their loan payment on the system and that, over 20 years, they could save $26,000 in energy costs. Another big plus of geothermal is the tax savings. (Atlanta Journal-Constitution -- Metro)
185th lands first internal medicine doctor Mar 10, 2009
According to 1st Lt. Zac Johannsen, a medical administrative officer with the 185th, Copple is eligible for a 50,000 student loan payment and a 75,000 cash bonus. "Those are nice incentives," Johannsen said. (Sioux City Journal)
Creditor seeks to seize Gottschalks' aircraft Mar 3, 2009
Gottschalks "is now two months delinquent in its loan payments and ... cannot cure this default," the creditor contended in court documents, adding that the company failed to pay up before filing its bankruptcy petition. The monthly loan payment is about $40,000. (Fresno Bee)
W.P. Considers Action Against Golf Course Feb 27, 2009
The Whispering Pines Village Council voted Wednesday night to initiate foreclosure action against Whispering Woods Golf Course unless it receives a loan payment by 4 p.m. next Thursday. The council had originally intended to initiate foreclosure immediately but decided to allow more time after learning that Whispering Woods had received the council's ultimatum only four days prior. (The Pilot Newspaper)
Dollar Thrifty Automotive Group Successfully Completes Lender Discussions Feb 26, 2009
The Company used approximately $24 million of unrestricted cash for the term loan payment, fees and expenses associated with the amendments. "The Company's aggressive actions over the past several months to reduce costs, improve revenue and right-size operations were fundamental to achieving the resolution reflected in these amendments. Those actions, taken together with the amendments to our financing arrangements and our recently announced $490 million prepayment of our liquidity and conduit... (PR Newswire)
Hawaiis Mokulele Airlines makes payroll Feb 21, 2009
Mokulele faced the possibility of shutting down earlier this week when it reportedly almost defaulted on an $8 million loan payment. On Wednesday, however, the Big Island-based carrier paid Mainland partner Republic Airways $300,000 to avoid defaulting and a possible takeover. (Pacific Business News, HI)
News highlights Feb 21, 2009
27 million loan payment. The 2007 loan from a Seattle Savings Bank financed development of a subdivision on South Pease Road in Oregon City. (OregonLive, OR -- Business)
Borse Dubai finds new loans to refinance debt Feb 20, 2009
3 billion loan payment and the $1 billion equity injection, two of the bankers said. As the financial center for the Gulf, Dubai faced its first major test of the economic crisis as Borse Dubai, one of its most high-profile companies, struggled to secure enough market financing to avoid defaulting on the debt. (International Herald Tribune -- Business)
Oregon bill encourages energy efficiency upgrades Feb 20, 2009
Sponsors said property owners would see an almost immediate decrease in their utility bill, even with the loan payment tacked on. "We know that energy efficiency and renewable energy projects are good investments in the future," said state Rep. (KGW Northwest NewsChannel 8, OR -- Business)
FORECLOSURE PLAN: 'Chance to rebuild,' Obama says Feb 19, 2009
The government would then help pay for the costs of reducing a borrower's loan payment so it becomes 31% of income. Republicans blasted the plan for leaving taxpayers on the hook. (USA Today -- Money)
Mokulele makes loan payment, staves off creditor Feb 19, 2009
Mokulele Airlines says it has made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc. ... Mokulele Airlines says it has made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc.. (Honolulu Star-Bulletin)
Mokulele Airlines makes $300K loan payment Feb 19, 2009
for free extra services. Subscribe to Pacific Business News. (Pacific Business News, HI)
Investec to get loan payment Feb 11, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
Deflated Expectations Feb 10, 2009
That s true enough for bad deflation, when earnings are shrinking all around: with fixed loans to pay, something has to give, usually the loan payment. But the same isn t true for good deflation. (The American Conservative)
It Holding's Ittierre Unit to File for Bankruptcy as Funding Falls Short Feb 8, 2009
IT Holding, controlled by Chairman , missed a loan payment in October and an extension two months later. The company said last week it was in arrears in paying royalties to the designers Ittierre makes and sells luxury goods for. (Bloomberg -- Europe)
The bogus nature of bonus culture Feb 7, 2009
So there it is, if you're late with a $50 credit card payment, miss a $500 auto loan payment, or a $1,000 mortgage payment, you're thrown headlong into the land of the forever lost, where those poor souls without credit live out there tortured, forsaken lives. What if you lose one trillion dollars, which is only expected to be but a down payment on the more than two trillion more you are expected to lose in the next few years. (Asia Times Online)
I want to know: Can I use a P.O. box number to get a driver's license? Mar 30, 2008
Other acceptable documents include utility hookup orders, loan payment booklets, voter registration cards, or documents from credit card companies, the U.S. Treasury, the Social Security Administration, state and federal agencies, educational institutions and insurance companies. A recently issued mortgage document or a statement from the applicant s spouse or domestic partner if they have the same address also is admissible. (Coos Bay-North Bend The World, OR)
Resort working on finances Mar 28, 2008
Oak Valley Community Bank DATE: Jan. 24 BILL: $898,684, defaulting on a loan payment ... Oak Valley Community Bank DATE: Jan. 24 BILL: $898,684, defaulting on a loan payment. (Modesto Bee, CA)
Taking From 401(k) For Mortgage: Bad Idea Mar 15, 2008
Ray Martin Advises Strongly Against It. NEW YORK, March 13, 2008. (CBS News -- Early Show)
Feb. 29: Our Readers Write Mar 4, 2008
Heart Patient wrote on Mar 1, 2008 9:15 AM:" Well sick and tired, I don't smoke, don't drink, eat right, and up until I had the first heart attack lived a very healthy and active lifestyle. The two factors which lead to my heart attacks, were ACS which is passed on from one generation to the next and the stress of being a full time single parent working two jobs to support my family. So I guess that was my fault having been born into a family where heart problems run on one side of the family... (News Enterprise Online)
Child passes through homeless shelter Feb 23, 2008
There are monthly bills, electric, heating, loan payment, insurance. Sometimes people need medicine or other personal items. (Park Hills Daily Journal, MO)
CCFPD board approves loan payment at special meeting Feb 21, 2008
Boonville Daily News - News. Thursday, February 21, 2008. (Boonville Daily News, MO)
KKR unit again delays billion-dollar loan payment Feb 21, 2008
Local Search Site Search. THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING. (Boston Globe)
City planning pond update, one new pond Feb 19, 2008
The estimated loan payment will cost 127,600 annually, but the final amount depends on construction bids and the loan interest rate. "It's expensive, but we have to increase the size of the holding ponds out there," said Mayor Cliff Barth. (Wahpeton Daily News, ND)
Rector heads to jail for role in largest area mortgage fraud case Feb 16, 2008
The victim-lenders granted the loans based upon numerous false representations and documents regarding the credit qualifications of the straw purchaser, as well as false representations that the straw purchaser had paid a down payment, would reside in the home, and would be responsible for the loan payment. The lenders were induced to make the loans based on fraudulently inflated appraisals. (Atlanta Business Chronicle, GA)
College students deal with lifetime of debt Feb 12, 2008
"Two-hundred seventy-three dollars and sixty-one cents a month for 30 years," she said, describing her student loan payment ... She knows that she's one of the lucky ones: She and her husband bought a house in Plum this year, have secure jobs and can at least afford their loan payments ... The income-based repayment option will limit monthly loan payments to a fixed percentage of a student's income and will forgive loans after 10 years for students working in certain public service jobs. (Pittsburgh Post-Gazette, PA)
Treasure Coast foreclosures triple again Jan 16, 2008
Treasure Coast homeowners with such loans got stuck between their unaffordable loan payment and a hard place. That hard place, of course, was foreclosure. (The Palm Beach Post)
Bail for lawyer who took child sex as loan payment Jan 4, 2008
January 04, 2008 06:32pm. AN Australian lawyer has been granted bail after appearing in a Brisbane court on child sex charges. (NEWS.com.au)
Car loans stretching Jan 2, 2008
"Buyers can lose their jobs, get sick, get divorced or experience another life event that prevents them from making the loan payment," Jackson said. "My advice? If you have to extend your car loan beyond five years and can't afford to put at least 20 percent down, scale back your car desires to something you can afford.". (The Clarion-Ledger)
Mortgage mess tops 2007 housing topics Dec 27, 2007
That was the term used when consumers received their new loan payment coupons after their adjustable rate mortgage underwent its first adjustment period. The difference for people who purchased less than two years ago. (Yahoo News -- Real Estate)
Web networks let more people bypass banks in getting a loan Dec 26, 2007
Her loan payment on the three-year loan, at 9 ... 19 off her monthly loan payments. (USA Today -- Money)
Questions and answers on foreclosures Dec 20, 2007
Q: When a borrower is late making a home loan payment, how quickly does the lender act, and when does the foreclosure occur. A: Technically, a lender could demand that a borrower cure an event of default such as a missed payment as soon as the payment is late, but most home lenders are hopeful that the borrower will quickly catch up their loan. (Atlanta Journal-Constitution)
Local Industry News & Notes for Sunday, December 16, 2007 Dec 16, 2007
The meeting at the Kauai Veteran Center, 3215 Kapule Highway, Room 3, Lihue is designed for individuals who are looking for funds to start a small business, ready to expand or renovate an existing business, or veterans who may qualify for a three-month deferment on a loan payment. Community Express Loans are available in amounts of 5,000 to 50,000 with seven-year terms. (Lihue Garden Island, HA)
Foreclosures: How to avoid losing your home Dec 13, 2007
The foreclosure process starts when the owner/borrower defaults on a loan payment (mortgage payment) and the lender files a default notice. Foreclosure allows the lender to recover an amount owed on a defaulted loan by repossessing the property secured by the loan. (Daily Triplicate)
Help on mortgages: the fine print Dec 7, 2007
Loan payments are current and the borrower probably could refinance into other kinds of mortgages, including FHA, FHA Secure, or readily available mortgage industry products ... Loan payments are current, but the borrower is unlikely to be able to refinance ... The loan payment would rise more than 10 percent when the rate resets. (Boston Globe)
1,600 turn to Bank Negaras AKPK unit every month Dec 2, 2007
In the end, Dr Azam was able to save 45% of his monthly loan payment. BEFORE the economic crisis of 1997, Allen was a sales manager earning a five-figure monthly salary, living a comfortable life. (The Star Online, Malaysia)
Ashford Park's lien released by city Nov 30, 2007
Also at its meeting Wednesday, the city council agreed to take part in a loan payment structure for the Henry County Industrial Develop-ment Commission's new speculative building. The plan, which would commit the city to begin contributing towards repayment on the costs of the building's construction if it does not sell within four years of construction, has already been endorsed by the Henry County supervisors, Access Energy and Northeast Missouri Power. (Mt. Pleasant News, IA)
Mortgage crisis hits ATL hard Nov 30, 2007
Using the basic formulas, the average home purchaser could not qualify for a loan payment at the highest point of the arm; therefore, the mortgage industry should not have used that particular product if the homeowner could not qualify for the payment when it doubled. Lastly, our society has suffered because of the greed of an industry that has now backfired. (Atlanta Journal-Constitution)
Hallie sees 5.5% tax levy increase Nov 30, 2007
This year, the village received a 61,311 loan payment from the fire district and 29,000 for contract services from the sanitary district and fire district. Those revenues will disappear in the 2008 budget. (Chippewa Falls Chippewa Herald, WI)
Struggling TSO's deficit drops below $9-million Nov 29, 2007
The foundation transfer includes a "special grant" of $848,3000, including a forgiven loan payment of $500,000. (In 2006, the TSO got a special grant of $500,000, which TSO president Andrew Shaw said at the time was not a bailout, but an investment in a more aggressive fundraising strategy. (Globe and Mail -- Entertainment)
County considering spec building effort Nov 28, 2007
02 annually toward the loan payments, beginning in the fifth year of the loan's 10-year term. The city of Mt. Pleasant, Access Energy Cooperative and Northeast Missouri Power, would also make contributions in the same amount. (Mt. Pleasant News, IA)
Paying off a car| Nov 21, 2007
I could then use the money Im paying on my car to increase my home loan payment. Will this work out to one and the same. (iAfrica.com)
Mortgage mess steadily spreading Nov 13, 2007
One homeowners monthly loan payment jumped from $295 to $436. It showed again that a subprime mortgage, based on adjustable interest rates, will in all likelihood adjust upward rather than downward in due course. (Charleston Gazette, WV -- Business)
Sub-Prime Crisis Is Far From Over Oct 26, 2007
And the loan payment defaults keep rising. With more than $250bn of US mortgages resetting to sharply higher interest rates in 2008 and 2009, and another $700bn so doing in 2010 and beyond, according to a study from First American, the pain is likely to go on and on. (Sky News)
Businesses Make Donations To Benefit Wildfire Victims Oct 25, 2007
Union Bank of California announced a disaster relief program that include loan payment deferrals, reduced rates on short-term equity loans and help recovering financial records. The bank also donated $200,000 to local relief agencies. (TheSanDiegoChannel.com, CA)
401(k) loans: Use sparingly Oct 13, 2007
Then you'll pay tax again once you retire and withdraw the loan payment money. Unlike with a mortgage or a home-equity loan, if you use a 401(k) loan to buy or improve your home, you won't get a tax deduction on the interest you pay. (USA Today -- Money)
Foreclosures continue to climb upward due to catastrophic illness, job losses Oct 7, 2007
The Countrywide loan payment was about 1,000 a month and a second equity loan payment was about 250. After Schuster helped them straighten out the tangled paperwork, the Copelands refinanced with Household Finance Corp.. (La Crosse Tribune, WI)
Superferry can't wait for report, says CEO Oct 6, 2007
Garibaldi said the weekly operational loss is $500,000, with another $125,000 a week to cover a loan payment and $20,000 in other costs, not including legal fees ... Garibaldi broke down the losses the company has incurred: The weekly operational loss is $500,000, the weekly loan payment is $125,000 and there is an additional $20,000 in other costs, without including the legal and consulting fees in legal battles. (Honolulu Star-Bulletin)
On the Record: John Stumpf, president and CEO, Wells Fargo & Co. Sep 30, 2007
A: I think it's reasonable to expect that if someone cannot make their home loan payment and they're delinquent there, they're probably going to be delinquent in some other things. For the most part, we have seen not a significant increase in delinquency, but an increase in the severity of the loss. (San Francisco Chronicle -- Business)
Commission OKs $15 million budget Sep 29, 2007
"Currently I have budgeted a short-term loan payment of 780,000, which is to be paid in November. I don't think it will be that high, but I budgeted conservatively," he said. "...if that amount is less then I will look at the difference to see if we use those funds to provide raises.". (Alexander City Outlook, AL)
Hill heads to federal prison in Atl.'s big mortgage fraud case Sep 23, 2007
The victim-lenders granted the loans based upon numerous false representations and documents regarding the credit qualifications of the straw purchaser, as well as false representations that the straw purchaser had paid a down payment, would reside in the home, and would be responsible for the loan payment. In addition, the lenders were induced to make the loans based on fraudulently inflated appraisals. (Atlanta Business Chronicle, GA)
Organizer of Massive Mortgage Fraud Scheme Sentenced to 28 Years in Federal Prison Sep 22, 2007
" The straw purchasers who participated in these mortgage flips were paid a kick-back out of the excess loan proceeds for the use of their name and credit. The victim-lenders granted the loans based upon numerous false representations and documents regarding the credit qualifications of the straw purchaser, as well as false representations that the straw purchaser had paid a down payment, would reside in the home, and would be responsible for the loan payment. In addition, the lenders were... (PR Newswire)
High-tech gadget disables car if customers miss loan payment Sep 21, 2007
VWH Campbell/Pittsburgh Post-Gazette "On Time" device being held by Sean W. Ratigan, finance manager, Courtesy. The device lights up and starts beeping when car payments are due. (Pittsburgh Post-Gazette, PA)
Car dealers are using new technology which can disable the vehicle if customers do not make payments. Sep 21, 2007
High-tech gadget disables car if customers miss loan payment. High-tech gadget disables car if customers miss loan payment Friday, September 21, 2007 By Tim Grant, Pittsburgh Post-Gazette. (Pittsburgh Post-Gazette, PA)
