Emerging Markets Report: Russia’s Mechel refinances $2.6 billion in credit (Market Watch)
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NEW YORK (MarketWatch) — Mining and steel company Mechel said Monday it has agreed to refinance $2.6 billion in short-term credit facilities, as many other Russian firms struggle to restructure their exorbitant debts.
Balloon Mortgages: A Relic of the Boom Survives? (Washington Post)
Honestly, I thought balloon mortgages–loans that come due after a short period, forcing a refinance–were killed off by the real estate crash. But I learned that online lender ING Direct is still offering these risky loans. Only now they’re taking steps to limit their own risk by requiring at least a 25 percent down payment (or equity, if it’s a refinance). The payoff for borrowers: A 4.25 …
Ridgewood Savings Bank Holds Mortgage Awareness Sessions (Times Newsweekly)
At these events, which are free and open to the public, a mortgage consultant will be available to provide valuable information on the various types of mortgages and the borrower’s requirements for each. Visitors will also learn how to handle the mortgage application process and can receive expert advice on how and when to refinance.
