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Fannie, Freddie to Step Up Purchases of Troubled Mortgage Bonds - Bloomberg
Oct. 13 (Bloomberg) -- Fannie Mae and Freddie Mac are ready to start purchasing $40 billion a month of underperforming mortgage bonds as the U.S. government expands its options to remove troubled assets from the slumping financial markets, according ...

McCain to outline tax relief for seniors - Reuters
WASHINGTON, Oct 14 (Reuters) - Republican presidential nominee John McCain will unveil proposals on Tuesday aimed at helping Americans cope with a steep plunge in the stock market, including tax relief for senior investors. McCain economic adviser ...

UPDATE 1-McCain to outline tax relief for seniors - Reuters
WASHINGTON, Oct 14 (Reuters) - Republican presidential nominee John McCain will unveil proposals on Tuesday aimed at helping Americans cope with a sharp plunge in the stock market, including tax relief for senior investors. The proposals, to be ...

Mortgage relief deal - Chicago Sun-Times
Nearly 11,000 Illinoisans with Countrywide mortgages -- most of them in the Chicago area -- are expected to get help to avoid foreclosure after Countrywide's new owner, Bank of America, agreed to an $8.7 billion settlement with Illinois and 10 other ...

Roseville to hold transportation forum tonight - Minneapolis Star Tribune
Porter had chance to save self, woman says at sentencing New twist on mortgage fraud: Did rent money 'prop it all up'? Car, with body, pulled from river in St. Paul Candidates at odds over transit taxes in Washington County Burglary loot on display ...

Obama presses support for ailing Big Three - Detroit News
Obama presses support for ailing Big Three In Toledo, he pushes quick $25B loan to carmakers Gordon Trowbridge and David Shepardson / Detroit News Washington Bureau TOLEDO -- Barack Obama's top economic adviser said Monday an Obama administration ...

Bed-Stuy neighbors are there for each other - New York Daily News
With Wall Street in turmoil and many Brooklyn homeowners worried about escalating mortgage payments, can anyone even think about buying a house? The Brownstoners of Bedford-Stuyvesant say the answer is yes. The group is sponsoring a home ownership ...

President Bush poised to follow UK with $250bn seizure of bank stakes - Times Online
President Bush is today expected to unveil firm plans to use $250 billion worth of US taxpayer funds to seize stakes in nine of America’s biggest banks as part of a move to stabilize the US banking system. The proposal to use part of Washington’s ...

Treasury's $250 Billion Bank Buy-In - BusinessWeek
There was only one way to get around that problem, which could have caused the plan to stall out before it began. Treasury had little choice but to "jawbone them into taking the money in a coordinated fashion all at the same time," Clifton says ...

Officials: Financial crisis can lead to violence - International Herald Tribune
An out-of-work money manager in California loses a fortune and wipes out his family in a murder-suicide. A 90-year-old Ohio widow shoots herself in the chest as authorities arrive to evict her from the modest house she called home for 38 years. In ...

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Today's Mortgage Terms starting with V

  • VA Loans: Fixed-rate loans guaranteed by the U.S. Department of Veterans Affairs for the purpose of making housing affordable to eligible U.S. veterans.
  • Variable Rate: Interest rate that changes periodically in relation to a specific index such as treasury bills and the prime rate.
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