Consumer News: Homeowners Affected by Sandy May Get Some Mortgage Relief

By Anthony Shields  NOV 05, 2012 11:00 AM

Plus, workers protest at grand re-opening of a remolded superstore.


This column highlights the most interesting and useful business and financial commentary on consumer companies from around the Web.

The Consumerist
Link: Homeowners Impacted by Hurricane Sandy Could Get Some Mortgage Relief Soon
“While one major problem facing many homeowners is dealing with insurance claims in the aftermath of Superstorm/Hurricane Sandy, there’s another long-term issue causing trouble for people whose homes have been damaged by the natural disaster — simply paying the mortgage. Relief is in sight for some borrowers as government agencies and other major lenders begin implementing programs to offer breaks on mortgage payments, among other forms of assistance.
Freddie Mac (OTC:FMCC) and Fannie Mae (OTC:FNMAS) told companies that service their loans that they can offer assistance to borrowers with damaged homes, or those who may have suffered a loss of income because of the damage done by the storm, reports CNNMoney. For example, a Freddie Mac spokeswoman said some borrowers will be able to delay mortgage payments for up to a year.”
Bloomberg BusinessWeek
Link: GM, Ford China Sales Rise as Consumers Shun Japanese Cars
General Motors Co. (NYSE:GM) and Ford Motor Co. (NYSE:F) reported gains in sales in the world’s largest auto market last month as Chinese consumers shunned Japanese brands amid a territorial dispute between the two countries.
“Deliveries of GM’s cars and minivans in China climbed 14% to 251,812 units in October, the Detroit-based automaker said in a statement on its website today. Ford sold 60,518 vehicles last month in the country, or 48% more than a year earlier, according to an e-mailed statement.”
Potential Traders
Link: Wal-Mart Stores, Inc. Workers Protested at Grand Re-opening of Remodeled Richmond Superstore
“A group of local Wal-Mart Stores, Inc. (NYSE:WMT) workers protested claims of favoritism and harassment not in favor of workers at the reopening of the retailer’s modified Richmond superstore Friday soon after Walmart employee strikes all over the country.”
The Dividend Daily
Link: JPMorgan Analysts Upgrades Target; Expects Growth Over the Next Two Years
Target Corporation (NYSE:TGT) received an upgraded from analysts at JPMorgan on Monday. The analysts boosted its rating on Target from ‘Neutral’ to ‘Overweight’ with a price target of $76. That price target is a 21.2% upside from its Friday closing price of $62.71.”
No positions in stocks mentioned.