Cincinnati Mortgage News

NY Fed begins purchasing mortgage securities (AP via Yahoo! News)
The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

NY begins purchasing mortgage securities (Sydney Morning Herald)
The Federal Reserve Bank of New York says it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Mortgage refinancing skyrockets (The Cincinnati Enquirer)
With U.S. mortgage rates the lowest in 30 years, local lenders say they've seen a strong surge in loan applications as homeowners seek to refinance their mortgages in Greater Cincinnati and Northern Kentucky.

Local credit scores dropping (The Cincinnati Enquirer)
Area consumers appear to be having a tougher time getting credit, an analysis conducted for The Enquirer has found. The shift is happening when some consumers are trying cash in on historically low mortgage rates while others are being forced to use credit cards to survive the recession. It's also occurring at the same that banks and other lenders are tightening lending standards.

Cleveland, Columbus lagging Cincinnati (The Cincinnati Enquirer)
Fears of recession have become reality. The housing market meltdown continues to be at the center of the economic and financial crisis.

Cuyahoga County braces for deluge of property value appeals (The Cleveland Plain Dealer)
Challenging property valuations: • Property owners have until March 31 to challenge 2008 valuations for tax bills. • Pick up the standard state form for appealing the value at the county Board of Revision or download it from the...

It's your money: 20 dos and don'ts for 2009 (FOX 19 Cincinnati)
During the worst economic crisis in a lifetime, the right financial decisions are crucial. 1. Don't try to predict the future.

AIG sells HSB to Munich Re for $742 million (Business Insurance)
NEW YORKóAmerican International Group Inc.'s recent decision to sell its HSB Group Inc. subsidiary to Munich Reinsurance Co. for $742 millionófar less than the $1.2 billion AIG paid for HSB in 2000óshows the difficulties the insurer faces in attempting to sell assets in the current market, analysts say.