FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

November 10, 2008

"And according to a federal report, unemployment claims went up by 300,000. And that's just Republicans in Washington." --Jay Leno "Some of the smaller elections across the country on Tuesday were very close. The election for mayor in a small town in Minnesota was a tie, so they decided to choose a winner with a coin toss. Unfortunately, the economy is so bad, no one had a coin." --Conan O'Brien "Barack Obama promised a new America in which the powerless will have a voice. So, he's 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 3, 2008

WASHINGTON, D.C. (October 1, 2008) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 26, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 455.4, a decrease of 23.0 percent on a seasonally adjusted basis from 591.4 one week earlier. On an unadjusted basis, the Index decreased 23.4 percent compared with the previous week and was down 28.4 percent compared with the same week one 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

October 1, 2008

WASHINGTON (Oct. 1) - After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, speeding toward passage in the Senate and gaining ground in the House where conservative opposition seemed to soften. Senators loaded the economic rescue bill with tax breaks and other sweeteners for the right and left, hoping to secure approval in the House by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plunging Read Full Article

October 1, 2008

Congress voted against the bailout. They were told to vote their conscience. That totally confused them . . . they said, “What?!?” - Jay Leno The House killed the bailout plan. So Washington failed to act? I didn’t see that coming. - David Letterman Yesterday, the Dow Jones dropped 777 points, which wiped out $1.2 trillion dollars in the stock market. Financial experts say the last time so much money disappeared in one day was when Oprah left her purse in a cab. - Conan O'Brien Read Full Article