Mortgages approvals plunge 71% to record low (Times Online)
The malaise in the housing market worsened in July as the number of mortgages approved for house purchase fell by 71 per cent to a record low of 33,000 home loans.

Debt Rattle, September 3 2008: Unproven Reserves
Detroit Publishing Co. Old Man River 1900 Mississippi River Landing. Sternwheeler “Belle of Calhoun” and sidewheeler “Belle of the Bends” taking on cargo. Ilargi: Wall Street stock exchange regulator SEC has been under pressure for years to allow oil companies to put unproven reserves in their books as proven. To make its case, the energy sector points to historical “recovery” levels, where a percentage of unproven reserves actually turned out to exist. Now the SEC is about to give in to

Differences between a HECM and Proprietary Reverse Mortgages Posted By : allreverse
Differences between a HECM and Proprietary Reverse Mortgages Posted By : allreverse Youve made the decision to get a reverse mortgage and now you talk to a bank or mortgage broker and the representative is telling you that you have a choice of the Government Home Equity Conversion Mortgage (HECM or Heck-um) or a Jumbo or Proprietary Program. Is one better than the other? Is one more expensive? Is one more risky? Lets see if we cant cut through some of the fat and get to the meat of the issues.

Banks continue to profit despite credit crisis
Some of Britain’s biggest banks have increased their profits from customers by 12% to £3.75 billion despite the financial crisis, their latest results reveal. Big losses arising from the credit crunch made the headlines last month, but the small print of the banks half-year reports shows they are clawing back profits from British consumers by charging the highest margins on mortgages in years. Mortgage borrowers are now paying thousands of pounds more for loans from HSBC, HBOS, Lloyds TSB,

Free money
Why didn’t someone think of it before? It is so obvious. The logic is so simple. If the housing market is collapsing from a lack of credit, then why doesn’t the government step in and offer free loans to first time buyers. Problem solved. As soon as the money comes on line, house prices will stabilize. First time buyers will come flooding back into the housing market, waving their free loans at risk-averse banks. How did Brown and Darling justify this extraordinary generosity? In announcing th

Getting On The Property Ladder
Getting On The Property Ladder As most people know the mortgage market is in something of a mess at present, and funding has all but dried up for lenders, who have found it more expensive and difficult to secure funding for their mortgage lending operations ¶ Posted 03 September 2008 † Peter Kenny § Finance ‡ Comments (0) ° Tagged: adverse, compare, Credit, Debt Consolidation, home loan, loan, Loans, Mortgage, mortgages, UK

Think Money Warns Boom In Rental Market Indicates Ongoing Trouble For Mortgages
The recent boom in the rental market reflects the continuing difficulty for homeowners trying to sell, and may even prolong the problems in the housing market, says Think Money London, England (PRunderground) September 2, 2008 - Financial solutions company Think Money (thinkmoney.com) have warned that a recent boom in properties put up for rent may indicate further trouble in the housing market towards the end of 2008 and going into 2009. Recent findings by RICS (the Royal Institution of

UK Building Societies Suffering From A Fall In Home Loan Len
Building societies in the UK saw a fall of more than £1 billion in their mortgage lending during March 2008 according to published home loans data. They also observed a drop in advanced net loans from £1.8 billion to £580 million compared to the same moth of 2007.