FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

October 27, 2008

Economic data were sparse this week, with rare good news emerging from the housing market.  After hovering in a narrow range of 4.8 million to 5.0 million units over the past ten months, total existing home sales jumped in September by 5.5 percent -- the biggest increase in more than five years -- to 5.18 million units (seasonally adjusted annualized rate).  About 35 to 40 percent of sales were foreclosure or short sales, according to the National Association of Realtors.  Sales increased Read Full Article

October 15, 2008

"This economy is crazy. Are you with me on that one? This is what I saw today. I saw a Lehman Brothers executive walking around town wearing a sign that read, 'Will work for a seven-figure bonus.'" –David Letterman "According to a group of Nobel prize-winning scientists, because of the economic crisis, the planet might actually improve from the damage of global warming, because we're using less fossil fuel and we're saving energy. See, this shows the brilliance of President Bush's plan. Read Full Article

October 3, 2008

Transaction worth about $15.1 billion; talks with Citigroup end SAN FRANCISCO - In an abrupt change of course, Wachovia Corp. said Friday it will be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, wiping out Wachovia’s previous plan to sell its banking operations to rival suitor Citigroup Inc. A key difference is that the Wachovia deal will be done without government assistance, while the Citigroup deal would have been done with the help of the Federal Deposit Read Full Article