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Home Equity Line of Credit Loan - News Articles

ConsumerReports.org - How to finance a new business
Oct 17, 2008
Consumer reports -
In early March 2008, a $50000 home-equity line of credit had an average variable interest rate of 5.18 percent. Interest costs might be tax deductible within certain ...
Foreclosure, lender-mediated sales up in Q3 - Minneapolis / St. Paul Business Journal:
Oct 17, 2008
Bizjournals.com, NC -
More than one-third of all Twin Cities home sales closing in the third quarter involved lender-mediated or foreclosed properties, up from only 9 percent during the same period a year ago, according to a survey released Thursday by the Minneapolis Area Association ...
When a house is just a home
Saturday, October 18, 2008
San Francisco Chronicle,  USA -
The outlook for housing prices is bleak indeed. A 2009 forecast by the California Association of Realtors predicted that home prices statewide would fall 6 percent to $358,000. And that's the optimistic scenario. One analyst was quoted in our Thursday news story suggesting the ...
Millions owe more on their homes than homes are worth
Saturday, October 18, 2008
Minneapolis Star Tribune, MN -
Refinancing will become harder, as will getting a home equity line of credit. Already, sellers are taking much less than the listed price. By REX W. HUPPKE, Chicago Tribune ...
How GMAC's Woes Foretell Consumer Pain - FlowChart (usnews.com)
Oct 15, 2008
U.S. News & World Report, DC -
A lot of people who have been hearing about the ubiquitous credit freeze are probably wondering where the heck it is, since their credit card bills and mortgage statements seem to keep coming, unabated. It's even harder to understand how this unseen credit crunch is supposed ...
The Associated Press: GM campaign tells buyers they can still get loans
Wednesday, October 15, 2008
The Associated Press -
DETROIT (AP) — With October auto sales expected to fall short of September's 15-year low, General Motors Corp. is launching a campaign this week to reach people who have stopped looking for cars out of fear that they can't get a loan. Many banks ...
GMAC has limited funding, may trim lending -report | ETFs | News | Reuters
Wednesday, October 15, 2008
Reuters -
NEW YORK (Reuters) - GMAC LLC has "limited if any access to funding" for its mortgage and auto lending units, Chief Executive Alvaro de Molina told the finance company's employees in an e-mail, according to a Bloomberg News report on Wednesday. ...
Tighter Rules on Car Loans Could Slam GM's Sales - WSJ.com
Thursday, October 16, 2008
Wall Street Journal -
By JOHN D. STOLL and NEAL E. BOUDETTE GMAC LLC, the big home and auto financing company, this week began restricting new loans to the most credit-worthy buyers after an attempt to raise new funds failed. The move threatens to crimp General Motors Corp.'s U.S. sales, ...
reportonbusiness.com: Finance arms add to auto makers' woes
Thursday, October 16, 2008
Globe and Mail, Canada -
Problems at the Detroit auto makers' financial subsidiaries could deepen the slump in sales vehicle manufacturers are undergoing, Standard & Poor's warned ...
GM and Chrysler | Follow the money | The Economist
Thursday, October 16, 2008
Economist, UK -
OBJECTIONABLE, but necessary. The description by Hank Paulson, America’s treasury secretary, of the federal rescue package for America’s banks, ...
Work With Competitors to Survive: A Lesson From GM - TheStreet.com
Thursday, October 16, 2008
TheStreet.com -
Want to guess what the stock market will do next week? Good luck. With turbulence the new status quo, there's only one economic prediction I'm willing to ...
Bloomberg.com: Worldwide
Thursday, October 16, 2008
Bloomberg -
By Jeff Green and Greg Bensinger Oct. 16 (Bloomberg) -- General Motors Corp., facing a drop- off in loans from former lending unit GMAC LLC, ...
The Associated Press: Wells Fargo 3Q profit falls 25 percent
Oct 15, 2008
The Associated Press -
NEW YORK (AP) — Wells Fargo said Wednesday its third-quarter profit fell 25 percent as it took hits on investments in troubled finance companies and increased its credit reserves, but results were better than analysts had expected. For the July-to-September period, the San ...
AFP: Wells Fargo profit drops 24%
Oct 15, 2008
AFP -
NEW YORK (AFP) — Wells Fargo reported Wednesday third-quarter profit fell 24 percent from a year ago to 1.64 billion dollars, but managed to beat ...
Chase, Wells Fargo profits drop - The Business Journal of Milwaukee:
Oct 15, 2008
Bizjournals.com, NC -
Two large national banks with significant presence in Milwaukee -- JPMorgan Chase & Co. and Wells Fargo & Co. -- reported sharp declines in third-quarter earnings Wednesday driven in part by rising provisions for credit losses. Earnings for both banks, however, exceeded ...
Wells Fargo, JPMorgan Chase see Q3 profit drop, but beat expectations - South Florida Business Journal:
Oct 15, 2008
Bizjournals.com, NC -
Wells Fargo said third quarter net income fell about 25 percent to $1.64 billion, or 49 cents a share, compared to the year-ago quarter's $2.17 billion, or 64 cents a share. San Francisco-based Wells Fargo (NYSE: WFC) reported revenue of $10.38 billion, up ...
Wells Fargo sees higher losses ahead from home equity - MarketWatch
Oct 15, 2008
MarketWatch -
By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) -- Wells Fargo & Co. said Wednesday that until house prices stop falling, the bank will suffer higher losses on its $84 billion home equity portfolio. ...
The New York Times > Log In
Oct 15, 2008
New York Times, United States -
By ERIC DASH JPMorgan Chase, the investment bank, reported third-quarter profit of $527 million on Wednesday, suffering a steep decline amid the turbulent ...
Sector Snap: National Banks slide - Forbes.com
Oct 15, 2008
Forbes, NY -
AP 10.15.08, 12:59 PM ET Shares of national banks mostly fell Wednesday afternoon amid a broader market decline, but Wells Fargo & Co. and JPMorgan Chase & Co. were bright spots in the sector after both reported smaller-than-expected declines in profit. Earlier Wednesday, ...
Wells Fargo-Wachovia deal could help other banks - Forbes.com
Oct 15, 2008
Forbes, NY -
AP 10.15.08, 1:57 PM ET An analyst on Wednesday said Wells Fargo & Co.'s acquisition of Wachovia Corp. should open the door for regional banking competitors in certain parts of the country to benefit from the deal. Sandler O'Neill & Partners LP analyst ...

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