Is a Short Sale Right for You? (BusinessWeek)
BusinessWeek - Home prices have dropped as much as 50% in some parts of the country, and many readers in those areas keep asking what they can do to stop the bleeding? In my last article, I described various strategies available to lower your monthly mortgage payments. But what options do you have if you are so far underwater that refinancing is not feasible and you are desperate to get out from under? The short answer is the short sale. What is a short sale? It is when you sell your home (including sales commissions and other closing costs) for less than you owe on the mortgage. ... (29-03-2010 07:08 PM)
Comeback of the Year: Behind Genworth's 700% Rebound (BusinessWeek)
BusinessWeek - A year ago, few companies were having as tough a time as Genworth Financial . Like other life insurers, it had seen its investments decimated by market turmoil. There "was a fear that a lot of these companies weren't solvent," says Standard & Poor's equity analyst Bret Howlett. "Genworth was at the top of that list." But Genworth had another problem, as one of the only providers of both life and mortgage insurance. Its U.S. mortgage business was seeing big losses as homeowners defaulted on their loans amid the worst housing market. ... (29-03-2010 07:08 PM)
FTSE 100 boosted by miners (AFP)
AFP - Leading shares gained on Monday as rising metals prices boosted the share prices of major mining companies. (29-03-2010 06:50 PM)
Japan auto production surges in February (AP)
AP - Japanese automakers said their global production surged in February, as Toyota boosted output 83 percent from a year earlier despite an ongoing recall of several key models. (29-03-2010 05:33 PM)
World stocks, euro rise as debt worries ease (AP)
AP - World markets rose and the euro strengthened Monday in the wake of the announcement of a eurozone aid plan for Greece, which the debt-ridden country followed up by planning a new bond issue. (29-03-2010 05:01 PM)
Falkland explorer's shares fall on drilling update (AP)
AP - The energy exploration company probing for oil north of the disputed Falkland Islands said Monday that the reservoir it was trying to exploit was of low quality — an announcement that quickly led to a drop in the company's share price. (29-03-2010 05:01 PM)
End of Home-Buyer Programs May Delay Housing Recovery (Time.com)
Time.com - Big federal programs to help the housing market are soon to end, and a rush of foreclosures may be about to begin. The bottom line, analysts say, is a sideways movement for sales and prices, with a risk that things could get worse (29-03-2010 12:05 PM)
Asian stock markets mixed in early trading (AP)
AP - Asian markets were mixed early Monday after shares in New York on Friday gave back most of their gains on concerns over whether a recent rally could be sustained. (29-03-2010 09:51 AM)
JP Morgan payoff in WaMu case faces FDIC hurdle: report (Reuters)
Reuters - The Federal Deposit Insurance Corp is not yet on board with Washington Mutual Inc's bankruptcy reorganization plan, including a massive tax refund to JPMorgan Chase & Co , according to the company and a Wall Street Journal report. (29-03-2010 09:47 AM)