Mortgage and Financial News From 2007-10-12 Page 7

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  • As safe as houses? (Bangkok Post)

    The English phrase ''as safe as houses'' seems ironic in the United States today. American house prices are falling _ the S&P Case Shiller index showed a 3.9% fall in July. The house is the most important asset that a typical US family will ever own _ and its value is sinking.
    2007-10-12 12:09:38

  • Peter G.Miller: Find one good service contractor, and pay for work promptly (San Antonio Express-News)

    Q: My husband and I are interested in buying investment properties and fixing them up for resale. What's the best way to find contractors? Is trial-by-fire the only option, or are there classes focused on this kind of project management?
    2007-10-12 04:13:31

  • Darling makes his mark with debut (The Scotsman: Business)

    THE surprise announcement on Tuesday that the Labour government has abandoned its flagship policies on capital gains tax (CGT) in favour of a simplified regime which taxes gains at a flat rate of 18 per cent took everybody aback.
    2007-10-12 04:25:55

  • Business briefs: Alcoa wins contract for stealth-jet parts

    Herald Tribune - ... securities by $74 billion each, or 10 percent above current limits of $735 billion -- for six months. Of the total $147 billion increase, 85 percent, or $125 billion, would be targeted at helping borrowers with weak, or subprime, credit refinance ...
    2007-10-12 12:06:00

  • Wall St Week Ahead: Stocks eye earnings, 'Black Monday' memories

    Stockhouse Canada - He sees declines in the value of homes making it difficult for borrowers to refinance. Some may even owe more than their house is worth. 'It's not a question of liquidity, it's a question of credibility,' he said. Vallar, nevertheless, expects the ...
    2007-10-12 03:05:00

  • Handicapping the Mortgage-Cap Bills

    Barron's Online - The bills mandate that 85% of the portfolio increase -- an estimated $125 billion -- would be devoted to help refinance subprime loans. We believe this approach has a 50% chance of being enacted and will likely be passed only if it is paired with a ...
    2007-10-12 01:25:00

  • Kazakhs may buy back foreign listings

    MSN MoneyCentral - The authorities have intervened by making more than $10bn available since July in emergency finance to banks struggling to refinance debt. Rating agencies warn that there will be an impact on economic growth, especially in the booming credit-financed ...
    2007-10-12 09:36:00

  • Virgin Group and partners ready to bid on Northern Rock bank

    International Herald Tribune - The Virgin-led group would refinance Northern Rock's mortgage book. Northern Rock, whose origins date to 1850, began seeking a buyer after the bank ran into trouble following the turmoil in global credit markets this summer. The bank relies on capital ...
    2007-10-12 09:57:00

  • Lending is in limbo as Northern Rock’s shadow reaches Spain

    Times Online - Last week Llanera, a high-profile Valencia property developer, became the first big victim of a stalling property market and tighter credit conditions when it was unable to refinance its growing debt. The developer has defaulted on obligations ...
    2007-10-12 01:03:00

  • Branson unveils team to buy Rock

    Financial Times - The consortium is also talking to a group of UK and international banks about lining up a financing package that would allow Northern Rock to refinance its debts, including £13bn borrowed from the Bank of England. Sir Richard said: “I and my team ...
    2007-10-12 02:08:00

  • Sir Richard Branson lines up powerful partnership in bid for Rock

    Times Online - Banks including Citigroup are expected to provide the remaining £20 billion to £30 billion required to pay off Northern Rock’s £13 billion borrowing from the Bank of England, an estimated £14 billion needed to refinance wholesale borrowings ...
    2007-10-12 02:51:00

  • Fitch: Jabil Circuit's IDR Lowered to 'BB+'; Outlook Stable

    Forbes - The downgrade follows Jabil's decision to refinance the remaining $400 million of its senior unsecured bridge loan with long-term debt. Fitch originally placed Jabil on Rating Watch Negative in November 2006 following the company's announced tender ...
    2007-10-12 02:08:00

  • Fitch Rates Soundview Home Loan Trust $66.5MM Series 2007-2

    Forbes - Cash-out refinance loans represent 37.46% of the mortgage pool and second homes represent 5.22%. The state that represents the largest portion of mortgage loans is Florida (11.41%). Financial Asset Securities Corp., a Delaware corporation and an ...
    2007-10-12 02:29:00

  • Fitch cut ratings on Jabil to junk

    CNBC - NEW YORK (AP) - Fitch Ratings said Friday it downgraded three credit ratings for Jabil Circuit Inc. to non-investment grade status, citing the company's decision to refinance the remaining $400 million of its senior unsecured bridge loan with long ...
    2007-10-12 02:51:00

  • U.S. Company Bond Sales Close in on $1 Trillion Mark (Update3)

    Bloomberg - Among the flurry of deals this week were Arlington, Virginia-based AES's $2 billion offering to refinance debt, and Enterprise's $2.75 billion bond transaction, the biggest offering for the largest car-rental company in North America. ...
    2007-10-12 02:51:00

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