Mortgage and Financial News From 2008-6-4 Page 6

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• The Salvation Army Campaigns to Feed the Hungry of Southern California (Marketwire via Yahoo! Finance)

  The Salvation Army's Southern California Division today launched a campaign to keep its many Southland food pantries fully stocked. "Operation Feed Our Families" is a direct response to the ongoing food crisis gripping many Southland residents.
  2008-06-04 01:29:00

• Slump benefiting renters as market grows competitive (Houston Chronicle)

  Renters may be the biggest winners in the current housing slump, especially in places like Florida, Las Vegas and Southern California, that have thousands of vacant for-sale and foreclosed homes and condos on the market.
  2008-06-04 01:36:01

• Britain faces deepest slump since 1990s (Daily Telegraph)

  Britain is uniquely vulnerable to the deepest economic slump since the recession of the 1990s because the Government has left itself no room to cut taxes, a report warned yesterday.
  2008-06-04 01:53:40

• Mostly static on the home front (Barossa & Light Herald)

  THE State Government is expecting property prices to remain dormant until at least the middle of next year, accompanied by a 5 per cent fall in the number of properties changing hands.
  2008-06-04 02:20:56

• Asia Day Ahead: U.S. Stocks Fall; German Billionaire Herz Dies (Bloomberg.com)

  June 5 (Bloomberg) -- U.S. stocks fell, sending bank shares to their lowest level in eight years, as Federal Reserve Chairman Ben S. Bernanke's warning that inflation is too high spurred speculation policy makers will raise interest rates.
  2008-06-04 02:22:25

• 4 relatives charged with evading taxes on real estate profits (The Washington Examiner)

  Four members of an extended family in Virginia and Maryland were charged Tuesday with concealing from federal tax authorities $30 million netted from "flipping" hundreds of foreclosed homes.
  2008-06-04 02:35:14

• Home ownership at record levels; Cdn mortgage debt headed to $1 ... - 680 News

  TORONTO - Never before have so many Canadians owned homes. And never before have they owed so much for the privilege. Interest rates at or near historical lows combined with low unemployment and recent changes that allow people to buy houses with ...
  2008-06-04 11:30:00

• CML media note in advance of tomorrow’s MPC decision on interest ... - Politics.co.uk

  A notional quarter or half point cut, if implemented on mortgage rates, would affect various size mortgages based on a typical average variable rate in March 2008. But it should not be assumed a rate cut will automatically be forthcoming as the cost ...
  2008-06-04 12:55:00

• U.S. Outlook Brightens A Bit - Forbes

  Wednesday's data on the U.S. economy extended the trend of indications that America will be able to avoid an outright recession, although the weak housing market remains a drag on growth. The Institute for Supply Management said Wednesday its service ...
  2008-06-04 01:03:00

• MetLife ratings unaffected by purchase of First Tenn's mortgage unit ... - Forbes

  MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its ratings on MetLife Inc. will remain unaffected by subsidiary MetLife Bank NA's (NR) agreement to purchase the residential mortgage origination and servicing business of First ...
  2008-06-04 11:30:00

• HOUSING: National mortgage rates up over 6 percent (North County Times)

  Average mortgage rates nationally jumped last week, exceeding 6 percent for the first time in a month, according to an industry group's survey.
  2008-06-04 12:48:07

• Mayor: Town that almost disappeared has a future (St. Louis Post-Dispatch)

  KINLOCH — While the rest of Kinloch withers, one street — Schoolway Avenue — hums with activity. Workers are remodeling frame ranch houses on the street that two years ago was the rundown, vacant property of the Lambert Airport Commission.
  2008-06-04 12:56:46

• San Francisco (The San Francisco Examiner)

  Barack Obama named a three-person team including Caroline Kennedy to lead his search for a running mate Wednesday while expressing confidence that the Democratic Party would soon unify after a bruising battle for the presidential nomination.
  2008-06-04 12:59:35

• Edward Siegel is on a quest to either stop exorbitant lawyer payouts — or score some easy money (Cleveland Scene)

  Frankie Hamilton vs. The Ohio Savings Association was one of the longest-running cases in state history. In the early 1980s, Francine Hamilton discovered that the bank was overcalculating the interest on her mortgage — and was doing the same to hundreds of others.
  2008-06-04 01:05:48

• Market Manipulation--Or Just Business As Usual? (Forbes)

  The answer is far from obvious.
  2008-06-04 01:06:25

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