http://www.freerepublic.com/tag/loan/ en-us Thu, 2 Jul 2009 22:12:06 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2284439/posts Freddie Mac Gets Another $6.1B from Gov't BY STEPHEN BERNARD | AP Business Writer You have entered an invalid email address From (email):* Required NEW YORK (AP) - Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday. The company could also be close to naming a new, permanent CEO, according to a report in The Wall Street Journal. The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage... Memphis Daily News http://www.freerepublic.com/focus/f-news/2284439/posts#comment Thu, 2 Jul 2009 22:12:06 GMT http://www.freerepublic.com/focus/f-news/2253763/posts Rebuilding the banks May 14th 2009 From The Economist print edition A tamer banking industry is already emerging from the debris of the old, failed one, says Andrew Palmer (interviewed here) BANKING is the industry that failed. Banks are meant to allocate capital to businesses and consumers efficiently; instead, they ladled credit to anyone who wanted it. Banks are supposed to make money by skilfully managing the risk of transforming short-term debt into long-term loans; instead, they were undone by it. They are supposed to expedite the flow of credit through economies; instead, they ended up blocking it. The costs... Economist http://www.freerepublic.com/focus/f-news/2253763/posts#comment Tue, 19 May 2009 10:34:19 GMT http://www.freerepublic.com/focus/f-news/2220386/posts Thank you 0'great one for all the help you extended to small businesses! Teleprompter lambasted great days ahead for the small businesses, the backbone of US economy, blah, blah, blah... Finally it is starting to filter down to us in the trenches. The reality is like this: Just received a letter from JP Morgan CHASE himself that my home equity line of credit has been frozen, I can not draw any more funds from it. As of 3/27 (letter mailed on 3/27) no mo' money for the purpose of funding the expansion and employment of staff. Using my own private... http://www.freerepublic.com/focus/f-news/2220386/posts#comment Thu, 2 Apr 2009 02:19:56 GMT http://www.freerepublic.com/focus/f-news/2193786/posts First-time home buyers can take immediate advantage of an $8,000 tax credit for homes purchased this year before Dec. 1, the Internal Revenue Service said Wednesday. Buyers can take the credit on either their 2008 or 2009 taxes. Forms are available on the IRS website or through IRS offices. The tax credit is available to first-time buyers with incomes under $75,000 for singles or $150,000 for couples. It covers 10% of the purchase price, up to a maximum of $8,000. Unlike last year's tax break, it does not need to be repaid if the buyer remains in the home, "The... CBS Marketwatch http://www.freerepublic.com/focus/f-news/2193786/posts#comment Wed, 25 Feb 2009 17:10:28 GMT http://www.freerepublic.com/focus/f-news/2184934/posts China bank loans double in January By ELAINE KURTENBACH AP Business Writer (AP:SHANGHAI, China) Chinese banks extended a record 1.62 trillion yuan ($237 billion) in loans in January, more than double the year before, as lenders heeded government calls to loosen credit controls to help revive the economy. Total bank loans rose by 814.1 billion yuan ($119 billion), nearly 104 percent over lending in January 2008, when the government was still imposing stringent curbs on credit as it battled inflation, the People's Bank of China reported Thursday. Facing an abrupt slowdown due to plunging demand for China's exports, regulators have... INO http://www.freerepublic.com/focus/f-news/2184934/posts#comment Fri, 13 Feb 2009 17:05:14 GMT http://www.freerepublic.com/focus/f-news/2184297/posts The Obama administration is hammering out a program to subsidize mortgage payments for troubled homeowners who have gone through a standardized re-appraisal and affordability test, sources familiar with the plan said on Thursday. The program would be a major break from existing aid programs, which are triggered once homeowners fall into arrears. Under the plan being contemplated, mortgage companies would use a uniform eligibility test even before a borrower becomes delinquent, sources said. The administration hopes the mortgage industry will soon agree to a set of standards that will allow it to move quickly to modify many home loans. Sources... Reuters http://www.freerepublic.com/focus/f-news/2184297/posts#comment Thu, 12 Feb 2009 20:51:25 GMT http://www.freerepublic.com/focus/f-news/2176843/posts With pressure growing on him to act, U.S. Sen Christopher Dodd Monday morning allowed reporters to view all of the loan documents and communication he and his wife had when negotiating mortgages with Countrywide Financial Corp. ... "I regret I did not do this sooner and I apologize to the people of Connecticut for the delay,'' said Dodd, who was joined by his wife Jackie Clegg Dodd in a sometimes tense meeting with reporters at his Hartford offices. Hartford Courant http://www.freerepublic.com/focus/f-news/2176843/posts#comment Mon, 2 Feb 2009 19:31:43 GMT http://www.freerepublic.com/focus/f-chat/2168730/posts $1.1 T Potential Loan Losses Plus $700bn Securities Writedowns: How Sound Is the U.S. Banking Sector? Jan 20 Roubini/Parisi: Assuming a further 20% fall in house prices and unemployment peaking at 9%, we project total loan losses to amount to $1.6T out of $12.4T loans outstadning. Of these $1.6T loan losses, about $1.1T accrue to U.S. banks and brokers.Mark-to-market prices as of December imply around $2T in writedowns on 10.8T securities outstanding. Flow of funds data show that 40% of U.S. originated securities are held abroad. U.S. banks' share of writedowns is about 30-35%, or 600-700bn according to weights... RGE Monitor http://www.freerepublic.com/focus/f-chat/2168730/posts#comment Wed, 21 Jan 2009 14:05:45 GMT http://www.freerepublic.com/focus/f-news/2165990/posts The Treasury Department said today it was lending $1.5 billion to Chrysler Financial, the company responsible for making loans to buy Chrysler vehicles, as part of the government's continuing effort to jump-start the troubled auto loan market. The Treasury agreed to provide the five-year loans in exchange for a modest interest rate (currently 1.36 percent) and restrictions on executive compensation. The deal is backed by loans Chrysler Financial makes and requires the firm to slash its bonus pool for senior executives by 40 percent. The loans, which will come out of the Treasury Department's Troubled Asset Relief Program, follow $17... The Washington Post http://www.freerepublic.com/focus/f-news/2165990/posts#comment Fri, 16 Jan 2009 21:31:57 GMT http://www.freerepublic.com/focus/f-chat/2150390/posts I have a home with a 30 year loan, I owe about 93k on it. At the current rate I'm paying it, I'll have it paid off in slightly over 12 years. My current rate is 5.75. I called about a refinance. 4.875 with $2300 in closing costs. This would drop my payment about $150/month. So, if I kept paying at the same payment I pay now, I'd pay the new loan off in slightly less than 12 years and save about $8k in interest payments over the life of the loan. I don't plan on moving. I'm 51. I... None http://www.freerepublic.com/focus/f-chat/2150390/posts#comment Wed, 17 Dec 2008 20:05:24 GMT http://www.freerepublic.com/focus/f-news/2145566/posts Antoin "Tony" Rezko leaves federal court in Chicago in this Oct. 19, 2006, file photo. Mr. Rezko spent years pouring thousands of dollars in campaign contributions into Barack Obama's climb from the Illinois legislature to Capitol Hill, and helped him raise tens of thousands more. A former Illinois bank official, now claiming whistleblower status, says bank officials replaced a loan reappraisal that he prepared for a Chicago property that was purchased by the wife of now-convicted felon Tony Rezko, part of which was later sold to next-door neighbor Barack Obama. In a complaint filed Thursday in the Circuit Court of... WashingtonTimes http://www.freerepublic.com/focus/f-news/2145566/posts#comment Tue, 9 Dec 2008 17:07:13 GMT http://www.freerepublic.com/focus/f-news/2138845/posts Dear Mr. Paulson: This will acknowledge receipt of your application on behalf of your firm, “United States Treasury,” for credit in the amount of $24,000 from me, and another $24,000 from my wife, and another $24,000 from each of our five children. That comes to $168,000, which is a considerable amount of money for a family to lend. So please forgive me if I ask that you provide some supporting information and documentation. 1. Does “United States Treasury” owe any previously-incurred debts? If so, in what amount(s)? If the total amount exceeds $10,000,000,000,000.00, please attach detailed, written explanation. . .... American Sentinel http://www.freerepublic.com/focus/f-news/2138845/posts#comment Wed, 26 Nov 2008 21:08:02 GMT http://www.freerepublic.com/focus/f-news/2133127/posts Should you keep paying your mortgage? If you have significant equity in your home, absolutely. If you don't, it's getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay. Last week, the government announced a program that will substantially lower payments for many homeowners who have little or no equity, but only if they are at least 90 days delinquent. Critics say the plan, which applies to loans owned or guaranteed by government wards Fannie Mae and Freddie Mac among others, could encourage... SF Gate http://www.freerepublic.com/focus/f-news/2133127/posts#comment Sun, 16 Nov 2008 19:11:44 GMT http://www.freerepublic.com/focus/f-news/2132140/posts WASHINGTON, Nov 14 (Reuters)...Asked at a briefing why automakers were not being considered for aid under the $700 billion bailout program for the financial industry, Perino said the White House was working to accelerate funding via a program approved specifically for the auto industry... Reuters and Yahoo Finance http://www.freerepublic.com/focus/f-news/2132140/posts#comment Fri, 14 Nov 2008 17:40:24 GMT http://www.freerepublic.com/focus/f-news/2127869/posts Payday lender and pawn shop operator Cash America International Inc. said Wednesday it will to close about one-third of its Ohio lending locations in the next few months, after voters in the state chose to maintain new payday loan restrictions. Voters Tuesday approved a new payday lending law that cuts the annual percentage rate that lenders can charge to 28 percent and limits the number of loans customers can take out to four per year. It is among the strictest laws in the country. Its backers say cash advances are defective products that trap borrowers into a cycle of debt.... Business Week http://www.freerepublic.com/focus/f-news/2127869/posts#comment Fri, 7 Nov 2008 15:44:48 GMT http://www.freerepublic.com/focus/f-news/2127848/posts Detroit’s Big Three were on Capitol Hill yesterday looking for a bigger bailout. They knew the results numbers coming out this morning would be grim and would offer little cheer for the future. The $700 billion in financial industry aid that motored through Congress last month must have flashed a big green light for the auto industry. Originally, $25 billion in loan guarantees were offered to help U.S. cars get greener. But the car companies say the restrictions on how they can use that money make it less than helpful. In fact, GM and Chrysler might not even pass a... Reuters http://www.freerepublic.com/focus/f-news/2127848/posts#comment Fri, 7 Nov 2008 15:20:56 GMT http://www.freerepublic.com/focus/f-chat/2099543/posts Does anyone know of any links to reputable micro-loan websites? I am biting the business bullet and determined to raise funds to begin my foray into the world of creating and owning my own small business. http://www.freerepublic.com/focus/f-chat/2099543/posts#comment Tue, 7 Oct 2008 13:43:23 GMT http://www.freerepublic.com/focus/f-news/2098528/posts The only people who pay taxes in this country are consumers who make purchases or pay rent from their own income. Those taxes are paid at the point of purchase and at the time of purchase. Since the middle class comprises the largest group of consumers, they pay the greatest share of taxes regardless of the illusion created by a progressive tax scheme. The wealthy pay more taxes only to the extent that they may consume more. The truth of these statements will become self-evident with a few simple illustrations. That box of corn flakes on your kitchen tables contains... The New Media Journal http://www.freerepublic.com/focus/f-news/2098528/posts#comment Mon, 6 Oct 2008 11:01:31 GMT http://www.freerepublic.com/focus/f-news/2095982/posts Not that long ago, a dollar was worth a half-gallon of gasoline. Just a few days ago, a dollar was worth a little less than one-quarter-gallon of gasoline. When the value of the dollar is expressed this way, the question is did the gasoline become more expensive or did the dollar become worth less? The dollar is a commodity that is bought and sold, borrowed and loaned and not exempt from economic laws. When the government tampers with the value of the money supply and the value of gasoline, we end up with high energy costs that send a shock... The New Media Journal http://www.freerepublic.com/focus/f-news/2095982/posts#comment Thu, 2 Oct 2008 18:49:00 GMT http://www.freerepublic.com/focus/f-news/2090030/posts Countrywide Financial Corp., the biggest U.S. mortgage lender, made large, previously undisclosed home loans to two additional executives of Fannie Mae, the government-chartered firm at the center of the U.S. credit crisis. One of Countrywide's previously undisclosed customers at Fannie was Jamie Gorelick, an influential Democratic Party figure whose $960,000 mortgage refinancing in 2003 was handled through a program reserved for influential figures and friends of Countrywide's chief executive at the time, Angelo Mozilo. Ms. Gorelick was Fannie Mae's vice chairman at the time. [Former Deputy Attorney General Jamie Gorelick, listening to testimony on Capitol Hill in April, got a... The Wall Street Journal http://www.freerepublic.com/focus/f-news/2090030/posts#comment Thu, 25 Sep 2008 10:41:49 GMT http://www.freerepublic.com/focus/f-news/2083966/posts Fed to give AIG $85 billion loan and take 80% stake By Michael J. De La Merced and Eric Dash Wednesday, September 17, 2008 In an extraordinary turn, the Federal Reserve agreed Tuesday night to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan. The Federal Reserve and Goldman Sachs and JPMorgan Chase had been trying to arrange a $75 billion loan for the company to stave off the financial crisis caused by complex debt securities and credit default swaps. The Federal Reserve stepped in after... International Herald Tribune http://www.freerepublic.com/focus/f-news/2083966/posts#comment Wed, 17 Sep 2008 01:50:59 GMT http://www.freerepublic.com/focus/f-news/2083890/posts In an extraordinary turn, the Federal Reserve agreed Tuesday night to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan. The Federal Reserve and Goldman Sachs and JPMorgan Chase had been trying to arrange a $75 billion loan for the company to stave off the financial crisis caused by complex debt securities and credit default swaps. The Federal Reserve stepped in after it became clear Tuesday afternoon that the banking consortium would not be able to complete the deal. Without the help, AIG was expected to... IHT http://www.freerepublic.com/focus/f-news/2083890/posts#comment Tue, 16 Sep 2008 23:49:39 GMT http://www.freerepublic.com/focus/f-news/2063633/posts Cuba Says Can't Pay For Japan Imports On Time : Nikkei V. Phani Kumar HONG KONG -- The Central Bank of Cuba informed Japan's Nippon Export and Investment Insurance that it couldn't pay for Japanese imports by the agreed upon dates, the Nikkei business daily reported Monday. "This isn't a problem specific to this bank. Foreign exchange reserves for settling trade accounts are in short supply in Cuba," said an offical at the Cuban central bank, according to the report. Fox Business http://www.freerepublic.com/focus/f-news/2063633/posts#comment Mon, 18 Aug 2008 11:16:23 GMT http://www.freerepublic.com/focus/f-news/2059423/posts Richard Dreyfuss sues father, uncle over loan 1 day ago LOS ANGELES (AP) — Richard Dreyfuss is suing his father and uncle over an $870,000 loan he claims was never repaid. The lawsuit centers around a loan Dreyfuss claims he made to his relatives in 1984, who owned an interest in a downtown Los Angeles office building. Roughly 24 years later, Dreyfuss says that loan — and interest — remains unpaid. The Associated Press http://www.freerepublic.com/focus/f-news/2059423/posts#comment Sun, 10 Aug 2008 14:56:16 GMT http://www.freerepublic.com/focus/f-news/2041192/posts How did the U.S. financial crisis happen? A review of the road to ruin reveals a course littered with more villains than heroes. No, it’s not the Great Depression, but the United States is facing a nasty economy-wide retrenchment following the excesses of the 2000s, with no easy way to dance through it. Think 1979 to 1982, when then U.S. Federal Reserve Chairman Paul Volcker exorcised consumer price inflation from the economy. The difference today is that the inflationary explosion has been absorbed by prices of assets—houses, stocks and bonds, office buildings—rather than by the prices of things you buy... Foreign Policy http://www.freerepublic.com/focus/f-news/2041192/posts#comment Sat, 5 Jul 2008 19:29:15 GMT