DETROIT MORTGAGE News, Sports, Shopping, Travel information

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Gm May Mortgage Detroit Headquarters To Raise Cash - San Francisco Examiner
detroit ( map , news ) - general motors corp. says it is looking to take out a mortgage on its towering headquarters complex as it continues efforts to raise cash to operate in an era of tight credit. the automaker's top real estate executive said ...
www.examiner.com

Peer-to-peer Lending: Weighing Benefits, Risks
when todd taylor wanted to borrow $10,000 to pay off his credit card debt, the 32-year-old detroit resident went to his bank and was told he qualified for a 12.9 percent interest rate.
biz.yahoo.com

Motor City Fearing Recession
detroit used to be synonymous with motors and motown - now it's become more a symbol of america's economic woes.
news.bbc.co.uk

Gmac Struggles With Financing - International Herald Tribune
gmac, the financing arm of general motors, has "limited if any access to funding" for its mortgage and auto lending units, its chief executive, al de molina, has told employees. gmac may trim auto lending in some international markets, de molina said ...
www.iht.com

Markets Plummet On Economic Angst - Detroit News
markets plummet on economic angst market slides 733 points, nearly wiping out record gains from monday. detroit news and wire reports the economy lurched deeper into the doldrums wednesday and took the stock market down with it, sending the dow jones ...
www.detnews.com

Motown Blues
why car-making city detroit now fears recession
news.bbc.co.uk

Gmac Has Limited Funding, May Scale Back Outside U.s. (update1)
oct. 15 (bloomberg) -- gmac llc , the financing arm of general motors corp. , has ``limited if any access to funding'' for its mortgage and auto-lending units, chief executive officer al de molina said in an e-mail to employees.
www.bloomberg.com

Gm And Ford Burning Furniture To Keep Warm - Businessweek
ford , general motors and chrysler are pretty much burning the furniture to stay warm. and that’s now. never mind that the economic upturn these companies have been banking on happening in 2010 isn’t likely to see daylight until 2011 at the ...
www.businessweek.com

The Slow, Sad Descent Of General Motors - Detroit Free Press
shares of general motors stock closed at a stunningly low $4.89 on friday. this represents an almost 60-year low for a corporation that was once synonymous with industrial prowess and prosperity. the once mighty company is even trying to mortgage or ...
www.freep.com

Peer-to-peer Lending: Weighing Benefits, Risks
when todd taylor wanted to borrow $10,000 to pay off his credit card debt, the 32-year-old detroit resident went to his bank and was told he qualified for a 12.9 percent interest rate. but that didn"t sound like a good deal. instead taylor turned to one of the growing number of so-called peer-to-peer lending sites to secure his loan. on prosper.com, he was able to obtain the funds for 8.3 percent.
www.mercurynews.com

Business Briefs: 30-year Mortgage Stays At 6.6 Percent
southwest florida -- the average rate for a conventional 30-year fixed mortgage on a owner-occupied, single-family home with 20 percent down on monday afternoon was 6.625 percent, the same as friday's rate but up a half-point from last week's low of 6.125, sarasota's sentinel mortgage reported.
www.heraldtribune.com

Fitch Rates Detroit Edison Co.'s $250mm Senior Notes Issuance 'a ... - Forbes
fitch ratings has assigned a rating of 'a-' to detroit edison company's (deco) $250 million issuance of 6.40% senior notes, series j, due oct. 1, 2013. proceeds from the sale will be used to repay short-term debt and for general corporate purposes ...
www.forbes.com

Gm Plans Ad Campaign To Assure Buyers On Loans As Gmac Retreats - Bloomberg
oct. 16 (bloomberg) -- general motors corp. , facing a drop- off in loans from former lending unit gmac llc , will begin advertising tomorrow to reassure buyers they can still borrow from hundreds of banks. the push by the largest u.s. automaker ...
www.bloomberg.com

Peer-to-peer Lending: Weighing Benefits, Risks
new york (ap) -- when todd taylor wanted to borrow $10,000 to pay off his credit card debt, the 32-year-old detroit resident went to his bank and was told he qualified for a 12.9 percent interest rate. but that didn't sound like a good deal.
www.kypost.com

Gmac Struggles With Financing
faced with a credit crunch, the financing arm of general motors is restricting auto lending in the u.s and may trim it in some international markets, the company said.
www.nytimes.com

'senator Government' - Wall Street Journal
whether or not last night's much-improved debate performance helps john mccain rally in the polls, at least voters finally got a clearer sense of the policy differences. for our money, the best line of the night was mr. mccain's freudian slip of ...
online.wsj.com

Peer-to-peer Lending: Weighing Benefits, Risks - Silicon Valley
new york — when todd taylor wanted to borrow $10,000 to pay off his credit card debt, the 32-year-old detroit resident went to his bank and was told he qualified for a 12.9 percent interest rate. but that didn't sound like a good deal. instead ...
www.siliconvalley.com

Gmac Has Limited Funding, May Scale Back Outside U.s. (update2)
oct. 14 (bloomberg) -- gmac llc , the financing arm of general motors corp. , has ``limited if any access to funding'' for its mortgage and auto-lending units, chief executive officer al de molina said in an e-mail today to employees.
www.bloomberg.com

Gmac Fund-access Woes May Force Cuts
gmac, the financing arm of general motors, has "limited if any access to funding" for its mortgage and auto-lending units, chief executive officer al de molina said in an e-mail tuesday to employees.
www.detnews.com

Can Gm Make It? - Businessweek
gm lost a stunning $15.5 billion in the second quarter, and its cash stood at $24 billion. at that time, it was burning $1 billion a month of its reserves, but the rate of burn is thought to have increased in the recent wall street meltdown. the next ...
www.businessweek.com