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FDIC Adds 54 More Banks To 'Problem List' - KDKA
NEW YORK (AP) ― The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter -- yet another sign of escalating troubles among the institutions controlling ...

Feds consider changes to mortgage program - Salem News
WASHINGTON (AP) _ The government may let more borrowers qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more affordable ones, a top Bush administration official said Wednesday. The program, included in a ...

COMMON PLEAS - Salem News Online
New Cases Citimortgage v. Joseph and Misty McCoy, etc; foreclosure sought against property on Burford Street, East Liverpool. Palisades Collection v. Donald E. Huston, etc; collection sought of $3,900 alleged debt. Countrywide Home Loans v. Justin ...

Mortgage-market revival: Try, try again - CNN Money
NEW YORK (Fortune) -- The feds are trying once more to resuscitate the mortgage market. But history shows reviving this patient won't be easy. The Federal Reserve said Tuesday morning it would spend $600 billion in coming quarters to buy the bonds ...

A variety of news around Oregon and the Northwest - Ashland Daily Tidings
SALEM — Oregon’s discretionary budget pie for the next biennium is worth about $16.1 billion, and on Monday Oregonians will get a better idea of who gets a slice and who gets sliced. Gov. Ted Kulongoski will announce his proposed state budget for ...

N.J. to spread $60M in foreclosure prevention funds - Philadelphia Business Journal
New Jersey Gov. Jon S. Corzine signed legislation on Monday that allocates $12.5 million in state funds and about $51.4 million in federal funds for foreclosure prevention assistance. Under the legislation, the Department of Community Affairs will ...

GMAC Puts Individuals After Institutions in Bond Plan (Update2) - Bloomberg
Dec. 1 (Bloomberg) -- GMAC LLC , the financing unit of General Motors Corp., is placing individual investors who loaned the company $14.6 billion behind institutions should the company file for bankruptcy. Holders of so-called SmartNotes, which GMAC ...

'Go slow' approach needed in next round of bailouts - Newburyport Daily News
It was a good week for Congressman John Tierney, D-Salem, who helped colleague Henry Waxman wrest the chairmanship of the House Energy and Commerce Committee from veteran John Dingell of Michigan. Tierney's remarks to the Democrats on the committee ...

This Home Project Will Be 'EXTREME' - New London Day
Conrad Rickets, above right, executive producer of the TV show “Extreme Makeover: Home Edition,” greets prospective volunteers at a gathering last month. The show, with Colchester builder Bruce P. “Bruno” Hayn, below, as lead builder, will ...

GMAC Puts Individuals After Institutions in Bond Exchange Plan - Bloomberg
Dec. 1 (Bloomberg) -- GMAC LLC , the financing unit of General Motors Corp., is placing individual investors who loaned the company $14.6 billion behind institutions should the company be forced to file for bankruptcy. Holders of so-called SmartNotes ...

Today's Mortgage Terms starting with E

Equity: The difference between the current market value of a property and the total debt outstanding against the property.

Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

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