Stopping foreclosure may be easier than you think if you hire an Attorney rather than go it alone or pay a stop foreclosure or Loan Modification Company. These companies can offer you no more than the lender has already, a forbearance agreement you can't afford. A stop foreclosure or loss mitigation company does not have the tools necessary to negotiate with your lender and facilitate a favorable solution. If a stop foreclosure Attorney uses TILA or RESPA violations to force the mortgage company to modify the terms of your existing mortgage and save your home from foreclosure you will get a much better result. If an Attorney audits your loan documents and finds TILA violations they can threaten a law suit and the lender may be forced to rescind the loan. This means you would be entitled to ALL your money back that you paid to originate the loan and ALL interest paid through the loan. This is not what the lender wants as it places you in the driver's seat leaving them no choice but to modify your loan and forgive a portion of the loan balance of face a federal law suit. TILA violations are taken seriously and the lender can be forced to unwind the loan!
A Law Office that specializes in stopping foreclosure with a loan modification is much different than an Attorney based or Attorney assisted Loan Modification Company. If you use loss mitigation company to stop foreclosure you will get nothing more than the bank has offered you already and you may lose your home before you know it. If a loan modification company tells you they can freeze your loan and to pay them and not your lender you should call an Attorney. There are several loan modification and stop foreclosure scams out there as ex loan officers are doing what ever they can to convince home owners they can modify their loan and stop foreclosure. If you are struggling with your mortgage payments and facing foreclosure get legal help and hire an Attorney that specializes in negotiating with lenders and loan servicers. A loan modification can save your home and get you payments you can afford long term by getting the lender to lower the interest rate, principal balance, or both. Most loan modifications directly from your lender are short term solutions to get the loan to perform so they can sell it and turn a profit. A Lawyer can negotiate a new 30 year fixed loan at a reduced interest rate with your lender and offer you a long term solution to save your home from foreclosure.
We have helped stop foreclosure simply by calling the lender and asking for an extension to negotiate a loan modification to stop the foreclosure process. If the lender sees you are represented by an Attorney they take you seriously. If you are in a bad mortgage or faced with a hardship, seek a qualified Attorney who can get you out of trouble. If you do not want the home any longer a loan modification may change your mind if an Attorney can get the lender to significantly reduce payments or principal balance making the mortgage payments affordable. If you have tried to sell your home but owe more than it's worth a short sale or deed in lieu may be the answer. An Attorney can make sure the lender does not come after you for a deficiency judgment down the road. In addition, all documents you receive from your lender advise you to consult an Attorney before signing.
Wednesday, July 1, 2009
Mobile Finance, Inc Offers Mobile Home Financing and Refinancing In Pennsylvania
Mobile Finance, Inc, a specialty financial services company focused on offering mobile home loan programs, is offering a mobile home refinancing program that includes debt consolidation for mobile home owners in Pennsylvania.
"We are excited about our mobile home refinancing program that offers debt consolidation for people who own a mobile home that is located in a park or other rented land." Stated Troy James, president and chief executive officer of Mobile Finance, Inc. "Our goal is to offer innovative mobile home loan programs to customers who would like to purchase or refinance a mobile home"
Several national mobile home lenders have mobile home financing programs available that offer mobile home loan products to qualified applicants to purchase a new or used mobile home, or, to refinance an existing mobile home loan. Mobile home loans that are offered for homes that are on rented land such as a park are called "chattel mortgages" and mobile homes that are situated on their own land and the lender is financing both the mobile home and the land together is a real estate mortgage. Interest rates are typically higher and loan terms shorter for chattel mortgages since the lender is not securing the real estate with the mobile home.
Typical Debt Consolidation Refinance Guidelines: *700 and above credit score *Consolidation of credit cards *1994 and newer mobile homes *Single wide and double wide homes *Home must be in a park or other rented land.
Mobile Finance, Inc is a financial services company that offers mobile home loan programs such as mobile home refinancing and mobile home financing for homes located on rented land such as parks. Mobile Finance, Inc offers mobile home loan programs from several national lenders.
"We are excited about our mobile home refinancing program that offers debt consolidation for people who own a mobile home that is located in a park or other rented land." Stated Troy James, president and chief executive officer of Mobile Finance, Inc. "Our goal is to offer innovative mobile home loan programs to customers who would like to purchase or refinance a mobile home"
Several national mobile home lenders have mobile home financing programs available that offer mobile home loan products to qualified applicants to purchase a new or used mobile home, or, to refinance an existing mobile home loan. Mobile home loans that are offered for homes that are on rented land such as a park are called "chattel mortgages" and mobile homes that are situated on their own land and the lender is financing both the mobile home and the land together is a real estate mortgage. Interest rates are typically higher and loan terms shorter for chattel mortgages since the lender is not securing the real estate with the mobile home.
Typical Debt Consolidation Refinance Guidelines: *700 and above credit score *Consolidation of credit cards *1994 and newer mobile homes *Single wide and double wide homes *Home must be in a park or other rented land.
Mobile Finance, Inc is a financial services company that offers mobile home loan programs such as mobile home refinancing and mobile home financing for homes located on rented land such as parks. Mobile Finance, Inc offers mobile home loan programs from several national lenders.
Altria Earnings Climb on Higher Marlboro Prices
Altria Group Inc., the largest U.S. cigarette maker, said fourth-quarter profit rose on higher prices for cigarettes including the top-selling Marlboro brand. Earnings per share from continuing operations increased to 37 cents from 35 cents a year earlier, the Richmond, Virginia-based maker of Parliament and Virginia Slims cigarettes said today in a statement. That matched the average estimate of 11 analysts surveyed by Bloomberg. Altria raised cigarette prices twice since May to counter falling demand by smokers. As shipments dropped 3.2 percent in 2008, Chief Executive Officer Michael Szymanczyk engineered last month's $10.4 billion acquisition of UST Inc. to add top-selling U.S. snuff brands Copenhagen and Skoal. "They've got good control of pricing," Thomas Russo, who oversees $3 billion in assets at Gardner Russo & Gardner, said yesterday in a telephone interview. The Lancaster, Pennsylvania-based firm owned 7.4 million Altria shares through September. With snuff, the company is "more hedged across the tobacco category." Sales rose 2.8 percent to $4.65 billion in the quarter. Altria said it expects to earn $1.70 to $1.75 a share in 2009, compared with $1.65 last year. Twelve analysts in the Bloomberg survey projected, on average, $1.73. The forecast is "prudent and appropriately cautious," reflecting falling consumer confidence and the possibility of higher U.S. and state tobacco excise taxes, Szymanczyk told analysts today on a conference call. Domestic Reliance Altria, which makes one of every two cigarettes sold in the U.S., now depends on the domestic market after last March's spinoff of its international division sent two- thirds of profit overseas. Marlboro increased its share of smokers to 41.6 percent in the quarter, rising 0.4 percentage point. Total market share slipped 0.3 point to 50.4 percent on declines by Parliament, Virginia Slims and Basic. Marlboro shipments dropped to 34.1 billion cigarettes from 34.3 billion. Operating profit for Philip Morris USA, Altria's cigarette unit, advanced 3.5 percent to $1.12 billion, helped by higher prices and lower selling, general and administrative expenses. Altria increased cigar shipments 3.4 percent to 311 million in the quarter. Its Middleton division, which makes Black & Mild cigars, generated profit of $36 million, up from $7 million in 2007. Altria acquired Middleton in December 2007. Altria plans to report UST's 2008 results tomorrow. Year-earlier results exclude the overseas unit, which was spun off in March. That unit, New York-based Philip Morris International Inc., is to report fourth-quarter results Feb. 4. Five-Cent Rise Altria raised Marlboro and other cigarette prices by 5 cents a pack on Dec. 15, after increasing them in May. Altria rose 4 cents to $16.84 at 4:06 p.m. in New York Stock Exchange composite trading. The shares have advanced 12 percent this year, after sinking 35 percent in 2008, their sharpest decline in nine years. The company said it was suspending its $4 billion share buyback plan through 2010 because of economic conditions. About $1.2 billion of repurchases were completed in 2008. "It is in the best interest of shareholders to preserve financial flexibility while it completes the financing of the UST transaction," Altria said in the statement. The company plans to sell debt this year to refinance the $4.3 billion bridge loan it took out to buy UST.
Wednesday, June 24, 2009
Stopping Foreclosure With A Loan Modification Attorney
Stopping foreclosure may be easier than you think if you hire an Attorney rather than go it alone or pay a stop foreclosure or Loan Modification Company. These companies can offer you no more than the lender has already, a forbearance agreement you can't afford. A stop foreclosure or loss mitigation company does not have the tools necessary to negotiate with your lender and facilitate a favorable solution. If a stop foreclosure Attorney uses TILA or RESPA violations to force the mortgage company to modify the terms of your existing mortgage and save your home from foreclosure you will get a much better result. If an Attorney audits your loan documents and finds TILA violations they can threaten a law suit and the lender may be forced to rescind the loan. This means you would be entitled to ALL your money back that you paid to originate the loan and ALL interest paid through the loan. This is not what the lender wants as it places you in the driver's seat leaving them no choice but to modify your loan and forgive a portion of the loan balance of face a federal law suit. TILA violations are taken seriously and the lender can be forced to unwind the loan!
A Law Office that specializes in stopping foreclosure with a loan modification is much different than an Attorney based or Attorney assisted Loan Modification Company. If you use loss mitigation company to stop foreclosure you will get nothing more than the bank has offered you already and you may lose your home before you know it. If a loan modification company tells you they can freeze your loan and to pay them and not your lender you should call an Attorney. There are several loan modification and stop foreclosure scams out there as ex loan officers are doing what ever they can to convince home owners they can modify their loan and stop foreclosure. If you are struggling with your mortgage payments and facing foreclosure get legal help and hire an Attorney that specializes in negotiating with lenders and loan servicers. A loan modification can save your home and get you payments you can afford long term by getting the lender to lower the interest rate, principal balance, or both. Most loan modifications directly from your lender are short term solutions to get the loan to perform so they can sell it and turn a profit. A Lawyer can negotiate a new 30 year fixed loan at a reduced interest rate with your lender and offer you a long term solution to save your home from foreclosure.
We have helped stop foreclosure simply by calling the lender and asking for an extension to negotiate a loan modification to stop the foreclosure process. If the lender sees you are represented by an Attorney they take you seriously. If you are in a bad mortgage or faced with a hardship, seek a qualified Attorney who can get you out of trouble. If you do not want the home any longer a loan modification may change your mind if an Attorney can get the lender to significantly reduce payments or principal balance making the mortgage payments affordable. If you have tried to sell your home but owe more than it's worth a short sale or deed in lieu may be the answer. An Attorney can make sure the lender does not come after you for a deficiency judgment down the road. In addition, all documents you receive from your lender advise you to consult an Attorney before signing.
Beware of Foreclosure Scams
There are many foreclosure scams these days offered by companies trying to take your home when you are facing foreclosure. Foreclosures are increasing nationwide, and so are scams that promise to "rescue" homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home.
Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications and often refer to themselves with titles that sound official, such as "Foreclosure Consultant", " Loss Mitigation Specialist", "Loan Modification Expert" or "Mortgage Consultant," and market themselves as a "foreclosure service" or "foreclosure rescue agency." In many cases they use terms such as "Attorney based", "Attorney assisted", "Attorney backed"; ask to speak to the Attorney and check him out with the State Bar Association.
Your mortgage lender - an Attorney or any legitimate financial counselor - can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.
WATCH OUT FOR FORECLOSURE RESCUE SCAMS
Lease-Back or Repurchase Scams - Be very suspicious if someone offers to pay your mortgage and rent your home back to you. This scheme often involves signing the deed to your home over to the con artist. The con artist may promise to sell your home back to you, but this may be very difficult, if not impossible, under the terms of the contract.
Signing over the deed gives the con artist the power to evict you, raise your rent, sell the house, or steal the equity you have in your home. You will still be responsible for your mortgage, so if the con artist stops paying it, your lender would have the right to foreclose on your home, and the foreclosure and any other problems would go on your credit record.
Refinance Fraud - Look out for people posing as mortgage brokers or lenders and offering to refinance your loan so you can afford the payments. Con artists may trick you into signing over the ownership of your home by saying that you are signing documents for a new loan.
Signing over the deed to your home exposes you to the dangers described above. Even if you are a victim of fraud, you could still lose your home.
Bankruptcy Schemes - Several scams attempt to abuse the bankruptcy laws. For example, a con artist may ask you to give a partial interest in your home to one or more persons. Each holder of a partial interest can then file bankruptcy, one after another. The bankruptcy court will issue a "stay" order each time to stop foreclosure temporarily. However, the stay does not excuse you from making payments or from repaying the full amount of your loan. In another kind of scam, a con artist may offer to obtain refinancing or negotiate a payment plan with your lender. If you may make payments to the con artist, he or she may keep the money rather than pay the lender on your behalf. The con artist may even file a bankruptcy case in your name, without your knowledge, as a part of the scam.
Bankruptcy laws provide important protections to consumers. Scams can only temporarily delay foreclosure, and they may keep you from using bankruptcy laws legitimately to address your financial problems. Signing over ownership of your home, or even partial ownership, can result in serious financial harm.
HOW TO PROTECT YOURSELF FROM SCAMS
Know what you are signing. Read and understand every document you sign. If a document is too complex, seek advice from a lawyer or an approved, trusted financial counselor. Never sign documents with blank spaces that can be filled in later. Never sign a document that contains errors or false statements, even if someone promises to correct them later. It's always a good idea to have a trusted Attorney review everything you sign. Just remember when you signed your confusing loan documents and the Loan Officer or Notary told you not to worry.
Get promises in writing. Oral promises and agreements relating to your home are usually not legally binding. Protect your rights with a written document or contract signed by the person making the promise. Keep copies of all contracts you sign is critical and having an Attorney review and make necessary changes before signing is even more important.
Make your mortgage payments directly to your lender or the mortgage servicer. Do not trust anyone else to make mortgage payments for you.
Be very careful about signing over your deed. Foreclosure scams often require you to sign over ownership of your home to a con artist or another third party. Never sign over your deed without getting the advice of your own lawyer, financial advisor, or other independent person that you know you can trust. Understand the terms of the deal you are making. By signing over your deed, you lose your rights to your home and any equity built up in the home.
Report suspicious activity to the Federal Trade Commission and to your State and local consumer protection agencies. Reporting con artists and suspicious schemes helps prevent others from becoming victims. The Feldman Law Center is a Real Estate Law Firm that helps home owners stop foreclosure with loan modifications that offer long term solutions. Mr. Feldman, ESQ. Please visit the Feldman Law Center at http://www.feldmanlawcenter.com.
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A Law Office that specializes in stopping foreclosure with a loan modification is much different than an Attorney based or Attorney assisted Loan Modification Company. If you use loss mitigation company to stop foreclosure you will get nothing more than the bank has offered you already and you may lose your home before you know it. If a loan modification company tells you they can freeze your loan and to pay them and not your lender you should call an Attorney. There are several loan modification and stop foreclosure scams out there as ex loan officers are doing what ever they can to convince home owners they can modify their loan and stop foreclosure. If you are struggling with your mortgage payments and facing foreclosure get legal help and hire an Attorney that specializes in negotiating with lenders and loan servicers. A loan modification can save your home and get you payments you can afford long term by getting the lender to lower the interest rate, principal balance, or both. Most loan modifications directly from your lender are short term solutions to get the loan to perform so they can sell it and turn a profit. A Lawyer can negotiate a new 30 year fixed loan at a reduced interest rate with your lender and offer you a long term solution to save your home from foreclosure.
We have helped stop foreclosure simply by calling the lender and asking for an extension to negotiate a loan modification to stop the foreclosure process. If the lender sees you are represented by an Attorney they take you seriously. If you are in a bad mortgage or faced with a hardship, seek a qualified Attorney who can get you out of trouble. If you do not want the home any longer a loan modification may change your mind if an Attorney can get the lender to significantly reduce payments or principal balance making the mortgage payments affordable. If you have tried to sell your home but owe more than it's worth a short sale or deed in lieu may be the answer. An Attorney can make sure the lender does not come after you for a deficiency judgment down the road. In addition, all documents you receive from your lender advise you to consult an Attorney before signing.
Beware of Foreclosure Scams
There are many foreclosure scams these days offered by companies trying to take your home when you are facing foreclosure. Foreclosures are increasing nationwide, and so are scams that promise to "rescue" homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home.
Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications and often refer to themselves with titles that sound official, such as "Foreclosure Consultant", " Loss Mitigation Specialist", "Loan Modification Expert" or "Mortgage Consultant," and market themselves as a "foreclosure service" or "foreclosure rescue agency." In many cases they use terms such as "Attorney based", "Attorney assisted", "Attorney backed"; ask to speak to the Attorney and check him out with the State Bar Association.
Your mortgage lender - an Attorney or any legitimate financial counselor - can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.
WATCH OUT FOR FORECLOSURE RESCUE SCAMS
Lease-Back or Repurchase Scams - Be very suspicious if someone offers to pay your mortgage and rent your home back to you. This scheme often involves signing the deed to your home over to the con artist. The con artist may promise to sell your home back to you, but this may be very difficult, if not impossible, under the terms of the contract.
Signing over the deed gives the con artist the power to evict you, raise your rent, sell the house, or steal the equity you have in your home. You will still be responsible for your mortgage, so if the con artist stops paying it, your lender would have the right to foreclose on your home, and the foreclosure and any other problems would go on your credit record.
Refinance Fraud - Look out for people posing as mortgage brokers or lenders and offering to refinance your loan so you can afford the payments. Con artists may trick you into signing over the ownership of your home by saying that you are signing documents for a new loan.
Signing over the deed to your home exposes you to the dangers described above. Even if you are a victim of fraud, you could still lose your home.
Bankruptcy Schemes - Several scams attempt to abuse the bankruptcy laws. For example, a con artist may ask you to give a partial interest in your home to one or more persons. Each holder of a partial interest can then file bankruptcy, one after another. The bankruptcy court will issue a "stay" order each time to stop foreclosure temporarily. However, the stay does not excuse you from making payments or from repaying the full amount of your loan. In another kind of scam, a con artist may offer to obtain refinancing or negotiate a payment plan with your lender. If you may make payments to the con artist, he or she may keep the money rather than pay the lender on your behalf. The con artist may even file a bankruptcy case in your name, without your knowledge, as a part of the scam.
Bankruptcy laws provide important protections to consumers. Scams can only temporarily delay foreclosure, and they may keep you from using bankruptcy laws legitimately to address your financial problems. Signing over ownership of your home, or even partial ownership, can result in serious financial harm.
HOW TO PROTECT YOURSELF FROM SCAMS
Know what you are signing. Read and understand every document you sign. If a document is too complex, seek advice from a lawyer or an approved, trusted financial counselor. Never sign documents with blank spaces that can be filled in later. Never sign a document that contains errors or false statements, even if someone promises to correct them later. It's always a good idea to have a trusted Attorney review everything you sign. Just remember when you signed your confusing loan documents and the Loan Officer or Notary told you not to worry.
Get promises in writing. Oral promises and agreements relating to your home are usually not legally binding. Protect your rights with a written document or contract signed by the person making the promise. Keep copies of all contracts you sign is critical and having an Attorney review and make necessary changes before signing is even more important.
Make your mortgage payments directly to your lender or the mortgage servicer. Do not trust anyone else to make mortgage payments for you.
Be very careful about signing over your deed. Foreclosure scams often require you to sign over ownership of your home to a con artist or another third party. Never sign over your deed without getting the advice of your own lawyer, financial advisor, or other independent person that you know you can trust. Understand the terms of the deal you are making. By signing over your deed, you lose your rights to your home and any equity built up in the home.
Report suspicious activity to the Federal Trade Commission and to your State and local consumer protection agencies. Reporting con artists and suspicious schemes helps prevent others from becoming victims. The Feldman Law Center is a Real Estate Law Firm that helps home owners stop foreclosure with loan modifications that offer long term solutions. Mr. Feldman, ESQ. Please visit the Feldman Law Center at http://www.feldmanlawcenter.com.
[tags]loan modification, loan modification attorney, loan modifications, loan modification orange county, loss mitigation, stop foreclosure, loan modification agreement, mortgage modification, loan modification help, foreclosure attorney, loan modification expert, fha refinance, housing rescue bill, countrywide, Freddie mac, fannie mae, Alabama loan modification, Arizona loan modification, Arkansas loan modification, California loan modification, Colorado loan modification, Connecticut loan modification, Delaware loan modification, District of Columbia loan modification, Florida loan modification, Georgia loan modification, Hawaii loan modification, Idaho loan modification, Illinois loan modification, Indiana loan modification, Iowa loan modification, Kansas loan modification, Kentucky loan modification, Louisiana loan modification, Maine loan modification, Maryland loan modification, Massachusetts loan modification, Michigan loan Modification, Minnesota loan modification, Mississippi loan modification, Missouri loan modification, Montana loan modification, Nebraska loan modification, Nevada loan modification, New Hampshire loan modification, New Jersey loan modification, New Mexico loan modification, New York loan modification, North Carolina loan modification, North Dakota loan modification, Ohio loan modification, Oklahoma loan modification, Oregon loan modification, Pennsylvania loan modification, Puerto Rico loan modification, Rhode Island loan modification, South Carolina loan modification, South Dakota loan modification, Tennessee loan modification, Texas loan modification, Utah loan modification, Vermont loan modification, Virginia loan modification, Virgin Islands loan modification, Washington loan modification, West Virginia loan modification, Wisconsin loan modification, Wyoming loan modification]
Altria Earnings Climb on Higher Marlboro Prices
Altria Group Inc., the largest U.S. cigarette maker, said fourth-quarter profit rose on higher prices for cigarettes including the top-selling Marlboro brand. Earnings per share from continuing operations increased to 37 cents from 35 cents a year earlier, the Richmond, Virginia-based maker of Parliament and Virginia Slims cigarettes said today in a statement. That matched the average estimate of 11 analysts surveyed by Bloomberg. Altria raised cigarette prices twice since May to counter falling demand by smokers. As shipments dropped 3.2 percent in 2008, Chief Executive Officer Michael Szymanczyk engineered last month's $10.4 billion acquisition of UST Inc. to add top-selling U.S. snuff brands Copenhagen and Skoal. "They've got good control of pricing," Thomas Russo, who oversees $3 billion in assets at Gardner Russo & Gardner, said yesterday in a telephone interview. The Lancaster, Pennsylvania-based firm owned 7.4 million Altria shares through September. With snuff, the company is "more hedged across the tobacco category." Sales rose 2.8 percent to $4.65 billion in the quarter. Altria said it expects to earn $1.70 to $1.75 a share in 2009, compared with $1.65 last year. Twelve analysts in the Bloomberg survey projected, on average, $1.73. The forecast is "prudent and appropriately cautious," reflecting falling consumer confidence and the possibility of higher U.S. and state tobacco excise taxes, Szymanczyk told analysts today on a conference call. Domestic Reliance Altria, which makes one of every two cigarettes sold in the U.S., now depends on the domestic market after last March's spinoff of its international division sent two- thirds of profit overseas. Marlboro increased its share of smokers to 41.6 percent in the quarter, rising 0.4 percentage point. Total market share slipped 0.3 point to 50.4 percent on declines by Parliament, Virginia Slims and Basic. Marlboro shipments dropped to 34.1 billion cigarettes from 34.3 billion. Operating profit for Philip Morris USA, Altria's cigarette unit, advanced 3.5 percent to $1.12 billion, helped by higher prices and lower selling, general and administrative expenses. Altria increased cigar shipments 3.4 percent to 311 million in the quarter. Its Middleton division, which makes Black & Mild cigars, generated profit of $36 million, up from $7 million in 2007. Altria acquired Middleton in December 2007. Altria plans to report UST's 2008 results tomorrow. Year-earlier results exclude the overseas unit, which was spun off in March. That unit, New York-based Philip Morris International Inc., is to report fourth-quarter results Feb. 4. Five-Cent Rise Altria raised Marlboro and other cigarette prices by 5 cents a pack on Dec. 15, after increasing them in May. Altria rose 4 cents to $16.84 at 4:06 p.m. in New York Stock Exchange composite trading. The shares have advanced 12 percent this year, after sinking 35 percent in 2008, their sharpest decline in nine years. The company said it was suspending its $4 billion share buyback plan through 2010 because of economic conditions. About $1.2 billion of repurchases were completed in 2008. "It is in the best interest of shareholders to preserve financial flexibility while it completes the financing of the UST transaction," Altria said in the statement. The company plans to sell debt this year to refinance the $4.3 billion bridge loan it took out to buy UST.
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