Mortgage and Financial News From 2008-2-22 Page 8

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• ALL BUSINESS: Fed rate cut futility

  CNN Money - That makes it harder for homeowners to refinance those loans. Companies are also paying to borrow money from banks and for the yields they have to offer to woo investors to buy their corporate bonds, which means businesses will be more pressed to hire ...
  2008-02-22 09:18:00

• BAT Bids $1.72 Billion to Win Turkey's Tekel Auction (Update4)

  Bloomberg - BAT plans to seek loans or sell bonds in the next six to 18 months to refinance the purchase, Chief Financial Officer Paul Rayner said. BAT will maintain its current share buyback program, he added.
  2008-02-22 01:15:00

• OTP Bank provides 1 bln usd to refinance Russian growth, acquisitions ...

  Forbes - BUDAPEST (Thomson Financial) - Hungary's OTP Bank Nyrt says it will increase the registered capital of its Russian subsidiary Investberbank by around 170 mln usd while providing almost 1 bln usd to refinance the Russian banks market expansion ...
  2008-02-21 08:22:00

• Pa. Issues Foreclosure Warning

  Forbes - The state also has programs to help homeowners avoid foreclosure, including the Homeowners' Emergency Mortgage Assistance Program, Refinance to an Affordable Loan and the Homeowner Equity Recover Opportunity.
  2008-02-22 02:19:00

• 'Underwater' home owners

  Boston Globe - The borrowers can’t refinance because no new lender will write a loan for more than the home is worth. The industry has charged that some are simply refusing to make payments, and either abandoning their homes or waiting for lenders to kick them ...
  2008-02-22 01:43:00

• Maguire cancels conference due to strategic review

  Reuters - U.S. commercial real estate, weighed by a souring economic outlook and tight credit markets, has become a growing concern for investors -- particularly with news that other top landlords like Macklowe Properties have struggled to refinance buildings ...
  2008-02-22 02:26:00

• Duke Energy to refinance $883M in bonds

  Business Courier - Duke Energy Corp. has launched a plan to refinance an $883 million portfolio of tax-exempt, auction-rate bonds issued on behalf of its subsidiaries. The subsidiaries -- Duke Energy Carolinas, Duke Energy Ohio Inc., Duke Energy Indiana Inc. and Duke ...
  2008-02-22 10:23:00

• UPDATE 1-US Senate plans foreclosure bill debate next week

  Forbes - A plan to let local housing agencies refinance shaky loans by issuing tax-exempt bonds is broadly supported by the Bush administration and both parties of Congress, but the proposal to let bankruptcy judges tinker with home loans faces opposition ...
  2008-02-22 02:26:00

• Proposal to help home loan borrowers

  Financial Times - John Reich, director of the Office of Thrift Supervision, is pushing the idea of creating such certificates as a way to help borrowers with negative equity refinance into cheaper loans, while preserving lenders’ upside if house prices recover.
  2008-02-22 01:07:00

• Burley, Whisnant Buck Mortgage Reforms (The Source Weekly)

  A bill to make small reforms to the subprime mortgage lending industry narrowly passed the Oregon House yesterday, with no help from Central Oregon’s two Republican legislators.
  2008-02-22 12:38:32

• Rosneft borrows $3 bn from banks to repay debt (Express India)

  OAO Rosneft, Russia's biggest oil producer, borrowed $3 billion from a group of 16 banks to refinance loans used to buy assets of bankrupt OAO Yukos Oil Co.
  2008-02-22 01:05:50

• Senate plans foreclosure bill debate next week (Boston Globe)

  The Democratic-led U.S. Senate plans to begin debate next week on a home mortgage foreclosure-prevention bill that would let bankruptcy judges erase debt and that would provide billions of dollars to rehabilitate abandoned properties.
  2008-02-22 01:15:46

• BAT Bids $1.72 Billion to Win Turkey's Tekel Auction (Update4) (Bloomberg.com)

  Feb. 22 (Bloomberg) -- British American Tobacco Plc will buy cigarette maker Tekel from the Turkish government for $1.72 billion to eat into Philip Morris International's market lead in the nation.
  2008-02-22 01:28:34

• ALL BUSINESS: Fed Rate Cut Futility (Washington Post)

  NEW YORK -- So the Fed's interest rate cuts were supposed to make borrowing easier, right?
  2008-02-22 01:59:24

• Nonprofit news roundup for Feb. 22, 2008 (Philanthropy Journal)

  Universities and other nonprofits seeking to refinance debt are struggling with insurers' refusals, The Boston Globe reported Feb. 21. Until recently, hospital and university bonds were considered safe, conservative investments, but recent problems in auction-rate bond markets and soaring interest rates have would-be investors fleeing.
  2008-02-22 02:45:45

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