FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

October 27, 2008

The still-tight credit markets are anticipating a half-point interest rate cut from the Federal Reserve this week, but investors are worried it won't be enough to quickly revive the economy.   The Fed has been slashing rates and taking unprecedented action to get market participants back in the lending mood, including launching a facility Monday to buy the short-term corporate debt known as commercial paper. But the central bank has already reduced its key rate—the Read Full Article

October 9, 2008

If you did not see the 60 minutes show on Sunday October 5th then you missed a great opportunity to understand the underlying issues that are plaguing our financial markets today. Understanding how all the pieces fit will help you as a consumer and a mortgage professional better understand why and how credit works for and against us. This explains the bigger picture of why our economy can be so affected by 6% of mortgages going bad. Most consumers are saying I am paying my mortgage Read Full Article

October 8, 2008

Move is to handle the worst financial crisis since 1929 stock market crash WASHINGTON - The Federal Reserve, acting in coordination with other global central banking authorities, cut a key U.S. interest rate by half a percentage point Wednesday to steady an economy teetering on a collapse reminiscent of the 1929 stock market crash. Fed Chairman Ben Bernanke and his colleagues ratcheted down their key rate by 0.5 percentage point to 1.5 percent. The action revives the central bank’s Read Full Article

October 5, 2008

Litigation pits two of largest financial institutions against one another NEW YORK - The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank by Wells Fargo, Citigroup announced in a news release. State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had agreed to purchase in a $14.8 billion deal. Citigroup Inc. accused Wells Fargo of trying to cut off its Read Full Article

October 3, 2008

White House promises quick enactment for massive Wall Street rescue The House passed a $700 billion bailout of the financial services industry Friday, reversing itself after members who voted to kill the measure earlier in the week came around to a Senate version that offered more protection for individual investors and small businesses. Stocks were up sharply in anticipation that the measure could help thaw frozen credit markets. After a week of reversals and intense lobbying, the Read Full Article