Items Tagged with 'LA Times'


  • LA Times Alternatives Offer Limited Options

    A Los Angeles Times article suggested that there are several other alternatives that a older homeowner should consider before turning to a reverse mortgage.  Although it is true that a prudent consumer should evaluate all available options prior to making a decision to proceed with a reverse mortgage, the options presented are limited in scope, not widely available and are usually in small amounts designed for very specific uses.   The article portrays local or regional government assistance programs that may offer deferred payments loans (DPL) or property tax deferral programs (PTD) as the public sector's version of reverse
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  • BofA's Lewis: We're Going to Repay TARP Funds, ASAP

    The growing public outrage towards bankers, evident in the AIG bonus debacle, clearly has banking executives anxious to get out of the government's back pocket as soon as possible, with Bank of America Corp. [stock BAC][/stock] CEO Ken Lewis telling the Los Angeles Times earlier this week that he intends BofA to begin repayment of government funds as soon as a "stress test" of the bank is complete at the end of next month.
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  • As REO Inventory Grows, Vendors Jockey For Position

    REO is hot. Make that super hot. As foreclosures have soared, so have the number of properties owned by banks and now on the market to be resold; and that means the companies looking to help lenders sell their REO are facing astronomical growth rates, too, to say nothing of the local listing agents and brokers in the REO space. But that growth has also made the market to help sell institutionally-owned homes ripe for entry -- and two such new entrants underscore the big draw that selling REOs now has.
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  • States, Cities Facing Mortgage-Led Tax Crunch

    Last week, I'd written about the potential problems that states and cities across the U.S. are likely to face as the mortgage-industry led housing slump persists -- namely, that state legislators are likely to pump out more and more complex legislation governing mortgage banking activity, right at the precise moment property tax revenue takes a nose dive.
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  • New Century: Thank Goodness the Execs Are Still Being Paid

    In a decision I still can't quite wrap my little pea brain around, apparently the bankruptcy court presiding over New Century's collapse decided yesterday that it would allow the company to pay out $3.2 million in bonuses to 116 key executives at the defunct company. That's according to this story from the LA Times.
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