Toll Brothers shares are headed for a higher open this morning after it gave guidance last night that fourth quarter revenue will top analyst expectations. The luxury homebuilder said it is planning on total consolidated homebuilding revenue of $486.6 million in the fourth quarter, better than anticipated but still down nearly a third from $691.1 million in the same quarter last year. [www.clipsyndicate.com | Market News Video]
Stories making financial headlines today: We find out more about the government's so-called "stress tests" on the nation's banks today; A report on new home sales out at 10 a.m. and U.S. Airways is charging passengers an extra $5 per bag. Watch the video for the full report by NY Money Authority Lisa Murphy. [www.clipsyndicate.com | FOX WNYW New York, NY]
Pulte Homes (PHM) posted a narrower fourth quarter loss today, of $116.9 million, or 31 cents per share, as compared to a loss of $338.2 million, or $1.33 per share, in the same quarter last year. Revenue for largest homebuilder in the US rose 5 percent, to $1.7 billion. [www.clipsyndicate.com | Market News Video]
Phil Umansky gives us some tips for gaining the extended first-time home buyer credit. [www.clipsyndicate.com | WTVR CBS 6 Richmond, VA]
Citigroup (C) upgraded shares of National Retail Properties (NNN) to Hold from a Sell rating, after the company announced results for the year ended December 31, 2009 on Friday. Additionally Citigroup increased their target price to $21 per share. [www.clipsyndicate.com | Market News Video]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KTVI FOX 2 St. Louis, MO]
[www.clipsyndicate.com | KSTU FOX13 Salt Lake City]
Freddie Mac and 13 national and local non-profit organizations announced a pilot effort to convince discouraged delinquent borrowers to pursue mortgage workouts that can save their homes and steer clear of foreclosure. Freddie Mac's new Borrower Help Centers in Chicago, Phoenix, San Bernardino and Washington, DC are designed to provide free, confidential one-on-one "holistic" mortgage counseling to delinquent Freddie Mac borrowers. The company is also launching a separate Borrower Help Network offering similar counseling over the phone to targeted Freddie Mac borrowers across the nation. Both efforts rely on non-profit organizations with strong reputations to contact and work with Freddie Mac borrowers who may be eligible for a modification but never called their lender or became frustrated or uncertain of the process and gave up trying. "We know that fear and frustration are keeping thousands of borrowers from getting the help they're eligible to receive," says Ed Haldeman, Chief Executive Officer, Freddie Mac. "So we're going to address the problem head-on by working together with nonprofit partners. These organizations are trusted and valued sources in their communities, and we believe they can make the difference in keeping families in their homes and out of foreclosure." Holistic financial counseling goes beyond mortgage issues and also includes an assessment of borrower debt and credit issues that could affect a borrower's ability to stay current on a mortgage after a modification. Borrowers in some stage of foreclosure are 60 percent more likely to keep their homes than other borrowers, according to a recent study from NeighborWorks America. Groups participating in the Borrower Help Center and Borrower Help Network include the National Urban League, National Council of La Raza (NCLR), HomeFree-USA, local Neighborhood Housing Services in Chicago, Phoenix, and Ontario, California, and other local community organizations. In 2009 Freddie Mac helped nearly 250,000 borrowers avoid foreclosure through loan modi
Thousands of valley residents are doing anything they can to save their homes from being foreclosed on. But experts say that fight is coming to an end, as more and more homeowners are simply walking away from the house and letting the banks have it. [www.clipsyndicate.com | KSAZ FOX 10 Phoenix, AZ]
Last month, the Talley family of St. Michael lost their father to throat cancer. Days later, they worried about losing their home, too. With some help from Fox 9, the Talleys should get the mortgage relief they wanted. [www.clipsyndicate.com | KMSP FOX 9 Minneapolis]
GDNM: February 5, 2010 [www.clipsyndicate.com | KOB Albuquerque]
The folks who live in the Horizon Ridge Subdivision in Richfield Township only had 45 days to get flood insurance upon getting a letter from their mortgage holders. [www.clipsyndicate.com | WNEM Flint, MI]
[www.clipsyndicate.com | WDAF FOX 4 Kansas City]
Good Day NY's Christal Young goes inside a duplex apartment in West Chelsea: 456 West 19th Street. Each of its 22 duplex apartments features dramatic, multi-paned steel windows, double-height ceilings and open floor plans. [www.clipsyndicate.com | WNYW FOX 5 New York, NY]
A unique estate sale in Mukwonago features hundreds of thousands of toys and trinkets. [www.clipsyndicate.com | WISN ABC 12 Milwaukee WI]
Mortgage interest is not the only tax deduction you can take as a homeowner. Bill Elliott and Todd Cartwright of Rocky Mountain Mortgage point out other deductions and tax credits you may be eligible for. [www.clipsyndicate.com | KOB Albuquerque]
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