Bank of America will Pay $425 Million to End Program on Bad Assets
Bank of America will pay $425 million to end a program to share assets of bad assets and derivatives with the United States. This is Bank of America’s latest effort to remove itself from the current relationship with the U.S. government. The government agreed to share losses up to $118 billion when Bank of America [...]
$80 Ponzi Scheme in Raleigh, NC – Vance Moore II Arrested
Vance Moore II, a Raleigh, NC resident, has been arrested for allegedly participating in an $80 Ponzi scheme. A 10 page indictment charges Moore and Walter Netschi with creating a fraudulent scheme involving ATMS. The indictment claims that from 2005 through 2008 the men collected $80 million in investments for thousands of ATMS located across [...]
Citigroup to Sell Stake in Smith Barney to Morgan Stanley
Citigroup CEO Vikram Pandit says that the major financial firm plans to “eventually” sell its stake in Smith Barney to Morgan Stanley. Morgan Stanley currently owns the other 50% of Smith Barney. Currently Smith Barney is a division of Citigroup Capital Markets and its one of the largest brokerages in the United States. Smith Barney [...]
Government Mortgage Refinance Plan – Can You Save You Home?
The government mortgage refinance plan can greatly help you to save your help. It is up to you to do the research and find the needed information to make sure you do not lose your home to a short sale or foreclosure. Going through a foreclosure can ruin your financial career for up to a [...]
Lennar Posts Quarterly Loss Shares Fall Over 3%, Housing Market Improving
Lennar Corporation, one of the largest home builders in America based out of Miami, posted a quarterly loss of $172 million. Even with the loss Lennar feels that the housing market is improving. The losses were extended due to the write down on the value or its land and unsold homes. Customer orders were down [...]
30 Year Fixed Mortgage Rates – Interest Rates Up Early
The average 30 year fixed mortgage rates are up early Monday morning. Mortgage interest rates have been around the 5% level for quite some time and it seems this level is going to continue to be a return point for average mortgage rates. Until we see a move above or below this level with conviction [...]
Mortgage Interest Rates September 21 – Important Week Ahead
Mortgage interest rates for September 21st, 2009 are little changed early on Monday. The 30 year fixed rate mortgage is at 4.98% while the 15 year fixed rate is at 4.34%. The 5/1 ARM is down early on to 3.87%. This is a very important week for mortgage interest rates because it could decide if [...]
Bank of America Refinance Mortgage Rates – All Time Lows Coming?
Bank of America refinance mortgage rates could be heading to an all time low very soon. The Federal Reserve Bank has worked very hard to keep interest rates near an all time low and now we are seeing a down trend in the 10 year treasury yield. The 10 year treasury yield was in a [...]
Mortgage Assistance – Can the Obama Refinance Plan Help Me?
Mortgage assistance is something that many home owners need in the current economic environment. A question that many of us are asking is “can the Obama Refinance Plan help me?” Well, the only way that you will truly know that is to do your research and find out if your situation allows the Making Home [...]
Wells Fargo Mortgage Refinance Rates – Interest Rates Stable at 5%
Wells Fargo mortgage refinance rates have been around or at 5% for the entire month of September. For most of last week we saw mortgage interest rates fall to as low as 4.91% but we have seen a bounce back to the 5% level. With the psychological 5% floor being broken last week, it is [...]
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