| GM's split from GMAC not painless
GMAC reported earnings Tuesday for the first time since GM sold a majority stake in the finance company. How GMAC did in 2006:
Net income: $2.1 billion
Automotive finance unit
Operating profit: $791 million
Real estate finance
Operating profit: $182 million
Other
Operating loss: $71 million
Source: GMAC Related Articles and Links GM to press health cutsGM spring deals seek to sustain sales gainUAW strike, failed Delphi talks among top threats to GM in 2007GM gains, faces painsGeneral Motors posts first quarterly profit in two yearsSuccess may trip up GM in talksGM may owe $1B on mortgage loansGM sales buck Big 3 trendHealth tab to soar at GMGM pushes new plant work rulesGM turns up $200M in earningsReports: GM in talks to buy ChryslerGM adds deals after weak Jan.End of GM talks brings relief AUTOS-GM-FINANCES Printer friendly version Comment on this story Send this story to a friend Get Home Delivery .
When Should You Refinance A Second Mortgage?
A second mortgage allowed you to get the house that you wanted or to have extra cash for some project - but that was a few years ago. You have built up some equity in the house and are now wondering if it would be a good time to refinance your second mortgage. Here are some things you need to know in order to help you make that decision intelligently. .
Subprime mortgage sector rattles markets, triggers probes
NEW YORK (Reuters) - U.S. financial markets were rattled by news on Tuesday that late payments on U.S. mortgages had reached their highest level in 3-1/2 years, while regulators began a probe of subprime mortgage lending and called for legislation. U.S. lenders specializing in making loans to high-risk borrowers have been struggling with rising defaults and foreclosures on home mortgages as home prices began to fall in the past year after interest rates rose in 2005. .
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