Mortgage and Financial News From 2007-12-18 Page 30
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CENTRO PROPERTIES Shopping mall owner stock falls
Chicago Tribune - Centro Properties Group, the owner of 700 U.S. shopping malls, fell a second day in Sydney trading after saying it's struggling to refinance debt because of the collapse in the subprime mortgage market. Centro stock fell 65 percent in early trading ...
2007-12-18 01:40:00 -
Drax scraps £450m refinancing (Financial Times)
Drax Group , the UK’s largest coal-fired electricity generator, on Tuesday abandoned plans to refinance up to £450m of debt because of the deteriorating conditions in the credit market, putting the payment of a planned special dividened in jeopardy.
2007-12-18 01:47:58 -
Drax Has Record Drop After Scrapping Debt-Refinancing Plans (Bloomberg.com)
Dec. 18 (Bloomberg) -- Drax Group Plc, the owner of western Europe's biggest coal-fired power plant, had a record drop in London trading after scrapping plans to refinance its debt and predicting lower earnings.
2007-12-18 01:14:03 -
Centro shares plummet as it struggles to refinance debt in subprime morass (International Herald Tribune)
The company, which owns 700 U.S. shopping malls, said it might have to sell assets.
2007-12-18 01:59:53 -
Centro, Struggling to Refinance Debt, Extends Decline (Update1) (Bloomberg.com)
Dec. 18 (Bloomberg) -- Centro Properties Group, the owner of 700 U.S. shopping malls, fell a second day in Sydney trading after saying it's struggling to refinance debt because of the collapse in the subprime mortgage market.
2007-12-17 03:45:03 -
Homeowners using super to fund failing mortgages: report
Big Pond News - It also found that in Canberra those who refinance to escape a mortgage crisis lose their homes more quickly than those who do not. ... isn't data that breaks it down to the individual elements of the application and there certainly isn't information ...
2007-12-17 03:53:00 -
US Treasury's Paulson again rejects idea of housing bailout
Forbes - ... and continues to prefer the idea of finding ways for homeowners to refinance their ... to work, which involves allowing borrowers who can continue to make their mortgage ... The content on this site, including news, quotes, data and other information, is ...
2007-12-17 11:35:00 -
Fed Board to propose new home lending rules (The Forex Market)
WASHINGTON (Thomson Financial) - The Federal Reserve Board will take up the problem of protecting mortgage borrowers from abusive lending at an unusual open board meeting Tuesday morning.
2007-12-17 09:13:46 -
US Treasury's Paulson again rejects idea of housing bailout (The Forex Market)
WASHINGTON (Thomson Financial) - The Bush administration is still against the idea of bailing out individual US homeowners with direct payments, and continues to prefer the idea of finding ways for homeowners to refinance their mortgages under an industry-led plan, US Treasury Secretary Henry Paulson said today.
2007-12-17 11:43:56 -
Homeowners using super to fund failing mortgages: report (ABC via Yahoo!7 News)
A new report has found Canberrans who are struggling to meet their mortgage repayments are turning to superannuation for help - a trend which is being replicated nationally.
2007-12-17 03:49:00 -
On a Palmdale street, foreclosure is in the air (Los Angeles Times)
Though the city in theory stands to benefit from Bush's mortgage relief plan, agents and homeowners say it may be too little too late. The Bush administration's plan to slow the mortgage meltdown gave a lift to Wall Street. But on Hoss Ghitkammanee's street, the signs of hope are harder to find.
2007-12-17 11:55:50 -
Central banks start bids for liquidity fund
International Herald Tribune - Yet most experts say the scheme -- whereby the Fed, SNB, ECB, Bank of England, Bank of Canada and others set up a new short-term lending facility at favourable rates -- is unlikely to solve the crisis alone. INSURERS' MOODY BLUES: U.S. mortgage loans ...
2007-12-17 11:17:00 -
100,000 lose out to migrants in hunt for work
Daily Telegraph - The typical British family has saved thousands of pounds a year in mortgage repayments as interest rates are calculated to be up to 1.5 percentage points lower than they would have been without immigration. New immigrants have pushed down inflation ...
2007-12-17 11:45:00 -
Japan money rates stay high year-end, BOJ vigilant
Guardian Unlimited - ... contrast to surging overseas funding rates, Japanese money markets have generally stayed calm as banks' exposure to the U.S. subprime mortgage defaults was very limited. But severe funding shortages by foreign banks have kept upward pressure on rates ...
2007-12-17 05:19:00 -
Fed to Unveil Home Mortgage Plan
Forbes - It will consider ways to crack down on misleading mortgage advertising. The Fed's response has taken on heightened importance ... They also were clobbered when their loans reset with much higher interest rates. Copyright 2007 Associated Press. All ...
2007-12-18 12:28:00