Mortgage News Oct 2006

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Surging mortgage fraud raises concerns about defaults
LOS ANGELES - Mortgage fraud surged in Southern California as borrowers overstated income, exaggerated assets and hid debts to qualify for expensive mortgages, authorities and industry observers said. (Wed, 04 Oct 2006 21:29:04 GMT)

Refinancing 101
Whether you are looking to reduce your rate, shorten your loan term to 20, 15, or 10 years, or borrow extra money for home improvements, refinancing may be right for you. (Wed, 04 Oct 2006 21:30:11 GMT)

Six Situations When a Home Equity Loan is Prudent
Used sensibly, home equity loans let homeowners draw on their greatest asset to achieve greater financial stability. The key: Evaluate thoroughly the terms and risks of a second mortgage to decide if it is right for you. (Wed, 04 Oct 2006 21:34:17 GMT)

30-year mortgage rates fall to lowest level in more than 6 months
WASHINGTON - Rates on 30-year mortgages dipped this week to the lowest level in more than six months. Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.31 percent this week, down from 6.40 percent last week. (Wed, 04 Oct 2006 21:58:53 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Wed, 04 Oct 2006 23:26:03 GMT)

Building the American Dream One Home At A time
It's all part of the American dream, to own a home, and make it your own. In the Youngstown- area, one man is helping some unlikely residents live out that dream. (Thu, 05 Oct 2006 00:58:49 GMT)

Mortgage applications rise as rates soften
The Mortgage Bankers Association said Wednesday that loan application volume increased strongly in the week ending Sept. 29, as did refinancings, as interest rates eased. (Thu, 05 Oct 2006 01:09:49 GMT)

Falling Rates Lift Mortgage Applications
Mortgage applications in the United States rose by the most since June 2005 as borrowing costs near an eight-month low spurred home sales and refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan increased 11.9 percent to 633.9 last week. (Thu, 05 Oct 2006 01:30:51 GMT)

Benefits to you: Proceeds are tax-free No monthly mortgage payments required
Benefits to you: Proceeds are tax-free No monthly mortgage payments required Use the cash any way you choose Continue to own your home No income or credit qualifications Marc Pisa, CSA Reverse Mortgage Specialist Local resident Supplement retirement income with Tax-Free Cash Example: Age 70 Home Value: $300,000 Reverse Mortgage Proceeds: $1,071 PER MONTH FOR LIFE If you are a homeowner 62 years (Thu, 05 Oct 2006 01:32:18 GMT)

Mortgage Applications Up As Interest Rates Finally Come Down
As expected, cooled inflation and subsequent lower interest rates lifted mortgage applications from their summer slump last week. The Mortgage Bankers Association reported that loan application volume rose 11.9 percent last week from the previous week as rates neared their lowest level in almost a year. The refinance index rose 17.5 percent to 1970.8, while the purchase index rose 7.6 (Thu, 05 Oct 2006 01:36:01 GMT)

N Home Equity Loan 5.99 Our low fixed rate is a sensible way to borrow. % APR
N Home Equity Loan 5.99 Our low fixed rate is a sensible way to borrow. % APR LEVEL HEADED Introducing the Annual Percentage Rate as of September 1, 2006 for a 60-month term. Equity determined by taking 80% of property value and deducting balance of any mortgages. (Thu, 05 Oct 2006 02:47:18 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Thu, 05 Oct 2006 05:03:00 GMT)

HSBC home loan rates up 50 basis points
HSBC India has increased interest on its floating rate home loans by 50 basis points. This is the third time the foreign bank has raised its home loan rate in the last 6 months. (Thu, 05 Oct 2006 05:18:31 GMT)

Call toll-free at 877-355-4693 or apply online (Home Equity and Auto only).
Call toll-free at 877-355-4693 or apply online (Home Equity and Auto only). October2- 7,2006 Don’t miss out on this fantastic $6,000,000 loan sale extravaganza! (Thu, 05 Oct 2006 05:47:08 GMT)

HSBC raises retail lending rate; home loans to cost more
Mumbai, Oct 4: Foreign banking major HSBC has raised its retail lending rate by 0.5 per cent to 11 per cent, which will hike its floating rates in the home loan segment. (Thu, 05 Oct 2006 05:54:43 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Thu, 05 Oct 2006 09:16:15 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Thu, 05 Oct 2006 09:16:35 GMT)

What is a mortgage accelerator payment?
It's a biweekly mortgage, but I don't know why it ties to a home equity loan, says Dr. Don. (Thu, 05 Oct 2006 10:00:00 GMT)

CIMB Bank Aims To Acquire RM1 Bln In Loan Acceptances
KUALA LUMPUR, Oct 5 (Bernama) -- CIMB Bank expects to acquire RM1 billion in loan acceptances with its Dream Home loan campaign that enables a house buyer to switch to lower interest rates if the bank lowers the housing loan interest (for the same loan package) within 12 months of its offer letter. (Thu, 05 Oct 2006 10:12:38 GMT)

Silver Falls Mortgage hires two
Carmen and David Babb have been hired as residential loan officers at Silver Falls Mortgage. Carmen Babb began her career in 1996 and mostly has been a residential loan officer. She is a graduate of George Fox University. (Thu, 05 Oct 2006 10:20:43 GMT)

New refinancing facility to help CIMB achieve RM2.7b home loans
CIMB Group is targeting to achieve total home loan approvals of RM2.7 billion this year with the launch of a new home loan campaign that allows consumers the flexibility to switch to a lower interest rate refinancing in the first 12 months. (Thu, 05 Oct 2006 10:25:04 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Thu, 05 Oct 2006 10:45:34 GMT)

Bankrate: Mortgage Rates Mixed Ahead of Employment Report
Mortgage rates were mixed, with fixed rates rising while adjustable rates pulled back. The average 30-year fixed mortgage rate ticked higher to 6.31 percent, but remains at levels not seen since March. (Thu, 05 Oct 2006 11:30:00 GMT)

Surging SoCal mortgage fraud raises concerns about defaults
Mortgage fraud surged in Southern California as borrowers overstated income, exaggerated assets and hid debts to qualify for expensive mortgages, authorities and industry observers said. (Thu, 05 Oct 2006 11:31:01 GMT)

What is a mortgage accelerator payment?
Dear Dr. Don, What exactly is a mortgage accelerator payment, using a home equity loan or HELOC? We are three years into 30-year fixed rate loan at 5.125 percent. We pay an extra $250/month toward the principal. (Thu, 05 Oct 2006 11:42:25 GMT)

Why Mortgage Affordability Matters
Mortgage lenders are beginning to move away from income multiples when calculating how much you can borrow. It's still affordability that counts though. (Thu, 05 Oct 2006 11:50:56 GMT)

Don't let mortgage merry-go-round take you for ride
If you're in the market for a mortgage, now might be the time to lock in those rates. Mortgage rates are going up. They rose every day one week in mid-October. (Thu, 05 Oct 2006 12:22:19 GMT)

MAIL BAG: Quit-claim not enough to get name off mortgage
Q: My wife and I divorced last year. Her name is still on the mortgage. She wants her name taken off. She signed a quit-claim deed. I sent this to the mortgage company asking it to take her name off. (Thu, 05 Oct 2006 13:11:17 GMT)

Looking for loan help
ORIENT manager Martin Ling will be hoping to have the loan signings that he believes will lift his League One strugglers in place ahead of Saturday's home game with Chesterfield, writes Peter King. (Thu, 05 Oct 2006 14:20:48 GMT)

Scotiabank launches 100% mortgage program
Bank of Nova Scotia today introduced 100% first mortgage financing, designed to help potential homebuyers purchase their home sooner. The Scotia 100% Mortgage Program offers residential homebuyers 100% loan-to-value financing on any Scotiabank mortgage product. (Thu, 05 Oct 2006 15:07:38 GMT)

Mortgage rates decline for 10th time in 11 weeks
Mortgage rates fell for the 10th time in 11 weeks, though the drop was slight this week, according to a survey released Thursday. (Thu, 05 Oct 2006 15:46:53 GMT)

Falling Rates Lift Mortgage Applications
NEW YORK - The Mortgage Bankers Association said Wednesday that loan application volume increased strongly in the week ending Sept. (Thu, 05 Oct 2006 15:55:27 GMT)

U.S. mortgages hold at 7-month lows
CHICAGO (MarketWatch) -- Mortgage rates held at seven-month lows this week, propelling a round of refinancing, according to Freddie Mac's weekly survey released Thursday. (Thu, 05 Oct 2006 16:16:55 GMT)

U.S. mortgage rates in flux
NEW YORK, Oct. 5 (UPI) -- U.S. mortgage rates last week were mixed, with fixed rates rising while adjustable rates pulled back. The average 30-year fixed mortgage rate ticked higher to 6.31 percent, but remains at levels not seen since March, Bankrate.com said Thursday. (Thu, 05 Oct 2006 16:57:02 GMT)

U.S. mortgage rates in flux
U.S. mortgage rates last week were mixed, with fixed rates rising while adjustable rates pulled back. (Thu, 05 Oct 2006 17:36:57 GMT)

Mortgage Rates Drop to Lowest Level Since March
Mortgage rates dropped to their lowest point since early March this week. (Thu, 05 Oct 2006 18:19:18 GMT)

NorStar Mortgage
NorStar Mortgage is a very aggressive, dedicated team of mortgage professionals, directed with each client's goal in mind. We meet and exceed every expectation! We are affiliated with over 170 lenders and offer the lowest rates and closing costs available in the industry. (Thu, 05 Oct 2006 19:06:18 GMT)

BoI reduce five and 10 year mortgage rates
Bank of Ireland Mortgages today announced a 'special offer' on its home loan and investment 5-year and 10-year fixed rate mortgage products. The new reduced rates will take effect from start of business on Monday, October 9 for all new and existing customers. (Thu, 05 Oct 2006 19:20:34 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Thu, 05 Oct 2006 20:01:55 GMT)

Cornerstone lands construction loan for Solaris
The Cornerstone Group's town home division has secured a $2.87 million construction loan for Solaris at MetroWest, a community being developed near downtown Orlando. (Thu, 05 Oct 2006 20:11:38 GMT)

BoI reduce five and 10 year mortgage rates
Bank of Ireland Mortgages today announced a 'special offer' on its home loan and investment 5-year and 10-year fixed rate mortgage products. The new reduced rates will take effect from start of business on Monday, October 9 for all new and existing customers. (Thu, 05 Oct 2006 21:05:48 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Thu, 05 Oct 2006 22:00:30 GMT)

Cairns Lockie Mortgage Commentary 6 October 2006
Welcome to the eighteenth fortnightly Cairns Lockie Mortgage Commentary for 2006. We aim to keep you informed on developments at Cairns Lockie, Mortgage Bankers and the mortgage market in general. (Thu, 05 Oct 2006 23:47:39 GMT)

Realty Q&A: More tricky ways mortgage fraudsters seek to prosper
WASHINGTON (MarketWatch) -- Question: I have read your articles and enjoy them and learn from them. Now I have a question. A "friend" has $300,000 in equity in his house. A broker asks him to flip to another mortgage, guaranteeing him a $6,000 dollar profit every three months if every three months he agrees to do this. Also, the broker agrees to take care of all the cost; "friend" pays nothing, (Fri, 06 Oct 2006 00:02:04 GMT)

Housing Boom Helped Hatch Mortgage Frauds, Experts Say
As the appetite for home loans soared, the apparent inability of lenders to spot suspicious transactions is puzzling to some. (Fri, 06 Oct 2006 03:10:48 GMT)

New law may delay mortgage brokers' jobs
A backlog in criminal-background checks of mortgage brokers under a new state law could leave some unable to do business for weeks or months after the first of the year. (Fri, 06 Oct 2006 03:33:30 GMT)

Mortgage rates tick down slightly
WASHINGTON -- Rates on 30-year mortgages edged down this week to a seven-month low. Mortgage giant Freddie Mac reported yesterday that 30-year, fixed-rate mortgages fell to 6.30 percent, down slightly from 6.31 percent last week. (Fri, 06 Oct 2006 04:11:34 GMT)

Mortgage applications on the rise
Mortgage applications in the U.S. rose by the most since June of last year as borrowing costs close to an eight-month low spurred home sales and refinancing. (Fri, 06 Oct 2006 06:10:27 GMT)

Mortgage broker sentenced for fraud
The owner of an Indianapolis mortgage brokerage company was sentenced Thursday to 21 months in prison for a mortgage fraud scheme that also involved an Indianapolis Police Department officer. (Fri, 06 Oct 2006 06:53:07 GMT)

Suit claims mortgage fraud in KC
An Arizona mortgage company has sued six businesses and 28 individuals, alleging they conducted a multimillion-dollar mortgage fraud in the Kansas City area. (Fri, 06 Oct 2006 07:22:31 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 06 Oct 2006 09:30:53 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 06 Oct 2006 09:31:13 GMT)

BANK SUES WELD OVER $3M LOAN
LOUISVILLE, Ky. - A bank in central Kentucky has sued former Massachusetts Gov. William Weld and a former co-owner of Decker College, claiming they have failed to repay a $3 million loan secured in the troubled school's last weeks. Wilson and... (Fri, 06 Oct 2006 09:39:58 GMT)

FILAN MAKES DONNY LOAN MOVE
Wigan goalkeeper John Filan has joined Doncaster Rovers on a one-month loan deal. The Australian went straight into Rovers' squad for Friday night's game at home to Oldham after Belle Vue boss Sean O'Driscoll was forced to make a move because of injuries to Jan Budtz and Andy Warrington. (Fri, 06 Oct 2006 09:55:10 GMT)

30-year mortgage rates at lowest since March
Rates on 30-year mortgages edged down this week to a seven-month low. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.30 percent, down slightly from 6.31 percent last week. It put rates at the lowest level since they were at 6.24 percent the first week of March. (Fri, 06 Oct 2006 10:03:08 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Fri, 06 Oct 2006 10:45:45 GMT)

Mortgage rate dips to 6.30 percent
The nation's benchmark mortgage rate has drifted to a seven-month low. The average 30-year, fixed-rate home loan is 6.30 percent, down slightly from 6.31 percent last week, government-affiliated mortgage giant Freddie Mac reported Thursday after conducting its weekly nationwide survey. (Fri, 06 Oct 2006 11:32:10 GMT)

Zero-down-payment mortgage for first-time house buyers
ScotiaBank has become the first Canadian bank to offer a mortgage with no down payment. ScotiaBank says the zero-down-payment mortgage is aimed at first-time buyers with good jobs, but not much savings. (Fri, 06 Oct 2006 11:44:14 GMT)

Chase signs for Fidelity mortgage servicing software
JPMorgan's consumer and commercial banking unit Chase is implementing technology from Fidelity National Information Services to replace and upgrade its multiple legacy mortgage servicing ... (Fri, 06 Oct 2006 13:48:35 GMT)

Some mortgage lenders cut to 5.75%
Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week. (Fri, 06 Oct 2006 15:41:32 GMT)

Scotiabank first to offer no-money-down mortgage
It just got easier to buy a new home with Scotiabank's announcement that it will become the first of Canada's major players to offer a no-money-down mortgage. (Fri, 06 Oct 2006 16:04:21 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Fri, 06 Oct 2006 16:36:03 GMT)

NorStar Mortgage
NorStar Mortgage is a very aggressive, dedicated team of mortgage professionals, directed with each client's goal in mind. We meet and exceed every expectation! We are affiliated with over 170 lenders and offer the lowest rates and closing costs available in the industry. (Fri, 06 Oct 2006 16:51:23 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 06 Oct 2006 19:17:57 GMT)

With Subprime Loans, Proceed With Caution
Q: I am a first-time home buyer and thought that my credit was in good shape. However, when I applied for a loan, the lender told me that I could qualify only for a subprime loan, which would be at a higher interest rate -- and would require that I pay four or five points. (Fri, 06 Oct 2006 20:11:50 GMT)

Mortgage Industry Production Profits Fell in 2005, while Servicing Performance Improved
2005 demonstrated the challenges that mortgage companies are still facing in 2006 (Fri, 06 Oct 2006 20:50:20 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 06 Oct 2006 21:00:51 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Fri, 06 Oct 2006 21:01:11 GMT)

Pick-a-Default-or-a-Foreclosure Mortgage
Pick-a-pay mortgages, otherwise known as negative amortization loans, have surged in popularity in the last five years -- so much so that they've been highly featured, and in turn scrutinized, from USA Today to the cover of Business Week . The pick-a-pay mortgage is a complicated loan. Most consumers don't really know what they're getting aside from the super low minimum payment option, (Fri, 06 Oct 2006 21:38:17 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 06 Oct 2006 22:25:43 GMT)

New mortgage firm opens in Park City
Park City real estate community, please welcome Jeff Edwards and CS Financial to the fold. CSF-Park City, as the mortgage company is called is now (Fri, 06 Oct 2006 23:57:55 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Sat, 07 Oct 2006 00:34:07 GMT)

Getting a fix on home equity loans
Retired Madison La Follette teacher Martha Reinke and her husband, Richard, watched as the interest rate on their home equity line of credit with US Bank slowly escalated. (Sat, 07 Oct 2006 03:39:39 GMT)

Suit Says Neighborhood?s Boom Was Built on Mortgage Fraud
A housing boom in Indiana provided fertile ground for mortgage fraud, as rising home prices served as cover for quick-flip plans. (Sat, 07 Oct 2006 04:15:40 GMT)

Mortgage rates continue recent fall
Associated Press WASHINGTON -- Rates on 30-year mortgages edged down this week to a seven-month low. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.30 percent from 6.31 percent last week. It put rates at the lowest level since they were at 6.24 percent the first week of March. (Sat, 07 Oct 2006 06:56:29 GMT)

e4e Launches Services-On-Tap Mortgage Processing & Lead Generation Service
e4e proudly launches its new Services-On-Tap website which offers mortgage lead generating services, complete mortgage processing, and income/employment verification. (PRWeb Oct 7, 2006) Trackback URI: http://www.prweb.com/zingpr.php/U3F1YS1TcXVhLUhhbGYtRmFsdS1JbnNlLVplcm8= (Sat, 07 Oct 2006 07:16:38 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sat, 07 Oct 2006 09:31:35 GMT)

Consumer Loan And Savings Rates
A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. Qualifications for borrowing and finance charges vary among institutions. Rates may differ from branch to branch. Some institutions provide lower rates to existing customers. (Sat, 07 Oct 2006 10:05:22 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sat, 07 Oct 2006 10:14:20 GMT)

AG accuses pair of consumer fraud in Des Moines-area home sales
DES MOINES (AP) --- A pair of Des Moines-area real estate brokers preyed on mortgage companies and first-time home buyers with a scheme involving inflated home prices and forged documents, a lawsuit filed Thursday by the attorney general's office alleges. (Sat, 07 Oct 2006 10:23:24 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Sat, 07 Oct 2006 10:35:03 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Sat, 07 Oct 2006 11:20:54 GMT)

e4e Launches Services-On-Tap Mortgage Processing & Lead Generation Service
Santa Clara, CA (PRWEB) October 7, 2006 -- e4e has just announced the creation of its Services-On-Tap website for the mortgage next-generation lead generation and processing services on demand with no minimums, no waiting, no infrastructure requirement and total flexibility. (Sat, 07 Oct 2006 12:00:00 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sat, 07 Oct 2006 12:21:44 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sat, 07 Oct 2006 12:57:37 GMT)

Fifth Third Bank accuses dozens of mortgage fraud
An attorney and numerous other Oakland County business owners are named in a lawsuit that alleges massive mortgage fraud at Fifth Third Bank. The lawsuit could spur a federal criminal investigation. (Sat, 07 Oct 2006 15:39:41 GMT)

Financing a vacation home gets easier
New options bring second home within reach for more buyers. The American dream used to include owning a house. Now, it's owning two. Vacation homes, once the sole province of the upper classes, increasingly are becoming standard fare for mainstream Americans. (Sat, 07 Oct 2006 15:42:50 GMT)

Mortgage rates drop to lowest level since March
WASHINGTON (AP) - Rates on 30-year mortgages edged down this week to a seven-month low. Mortgage-giant Freddie Mac reported that 30-year, fixed-rate mortgages fell to 6.30 percent, down slightly from 6.31 percent last week. (Sat, 07 Oct 2006 18:17:23 GMT)

The fee-free loan: coming soon to a home near you
ING direct intends to shake up the home loan market with virtually fee-free mortgages. (Sat, 07 Oct 2006 23:58:35 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sun, 08 Oct 2006 01:23:43 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Sun, 08 Oct 2006 01:38:43 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Sun, 08 Oct 2006 01:38:53 GMT)

Suit Says Neighborhood?s Boom Was Built on Mortgage Fraud
A housing boom in Indiana provided fertile ground for mortgage fraud, as rising home prices served as cover for quick-flip plans. (Sun, 08 Oct 2006 04:18:05 GMT)

Homeowners should consider refinancing to escape adjustable rate mortgages
QUESTION: I bought a house a couple years ago with an adjustable rate mortgage, and my mortgage payments are getting too expensive. (Sun, 08 Oct 2006 06:05:56 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sun, 08 Oct 2006 06:27:03 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Sun, 08 Oct 2006 06:28:24 GMT)

Treat your mortgage like your stock portfolio: Review it
WASHINGTON — Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment. (Sun, 08 Oct 2006 07:01:45 GMT)

WASHINGTON REPORT/KENNETH HARNEY: Put an end to unsolicited loan offers
Picture this: You apply for a new home loan from a local mortgage company on a Monday afternoon. By Tuesday morning, you're suddenly getting unsolicited phone pitches from out-of-state lenders who seem to know a lot about your personal finances: (Sun, 08 Oct 2006 07:03:07 GMT)

Economists: Now's the time to refinance
A refinance window of opportunity has opened and it should be good news for anyone holding one of those adjustable time bombs of a mortgage. Some say that rate is going to adjust and the payment will explode. (Sun, 08 Oct 2006 07:15:12 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Sun, 08 Oct 2006 07:28:41 GMT)

Lynn Dorothy M. Wagner, 45, Towson mortgage banker
Lynn Dorothy McKenzie Wagner, a mortgage banker and mother of two young girls, died Thursday at her Towson area home after a seven-month battle with colon cancer. She was 45. (Sun, 08 Oct 2006 07:33:14 GMT)

Changing the face of the mortgage business
LORAIN -- Last month, First Federal Savings Loan of Lorain announced it would be purchasing the American Eagle Mortgage Corporation, the six-year-old lender that has become one of the biggest suppliers of first-buyer home loans in Lorain and Erie counties. (Sun, 08 Oct 2006 07:45:01 GMT)

Tips for purchasing your first home
The recent slowdown in home sales could provide new opportunities for individuals and families looking to purchase a first home. (Sun, 08 Oct 2006 08:08:57 GMT)

30-year mortgage rates hit 7-month low
WASHINGTON – Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March. (Sun, 08 Oct 2006 08:20:07 GMT)

Consider alternatives to skirt payday-loan trap
As firms offering these high-interest loans come under fire by lawmakers, financial counselors say there are better ways to borrow. When payday loan companies flooded into Virginia several years ago because of changes in state law, Langley Federal Credit Union employees began to notice longer lines on paydays. (Sun, 08 Oct 2006 08:23:22 GMT)

Home values stuck in a rut
For generations, Americans have been taught the virtues of home ownership. (Sun, 08 Oct 2006 09:05:43 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sun, 08 Oct 2006 10:34:05 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Sun, 08 Oct 2006 10:34:25 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Sun, 08 Oct 2006 11:06:14 GMT)

Mortgage applications up nationwide
Mortgage applications in the United States rose by the most since June of last year as borrowing costs close to an eight-month low spurred home sales and refinancing. (Sun, 08 Oct 2006 13:04:11 GMT)

Hunter got break on taxes for home
Oct. 8 (UNION-TRIBUNE): Back in the winter of 1994, after reapportionment reshaped California's congressional districts, Rep. Duncan Hunter went shopping for a new home. The seven-term Republican from Coronado headed east, to the foothills outside El Cajon, where he discovered what would become his quiet retreat from the vagaries of Beltway politics. (Sun, 08 Oct 2006 13:11:10 GMT)

Woodgate undergoing treatment again
Middlesbrough defender Jonathan Woodgate is undergoing treatment after picking up an injury in training. The 26-year-old, currently on loan to his home-town club from Real Madrid, is understood to have been under the care of the club's medics for the last couple of days. (Sun, 08 Oct 2006 17:39:18 GMT)

Australian August Home-Loan Approvals Probably Fell 1% on Rates
Oct. 9 (Bloomberg) -- Australian home-loan approvals probably dropped in August for only the second time this year after the central bank raised interest rates to a 5 1/2-year high. (Sun, 08 Oct 2006 18:29:31 GMT)

Australian August Home-Loan Approvals Probably Fell 1% on Rates
Oct. 9 (Bloomberg) -- Australian home-loan approvals probably dropped in August for only the second time this year after the central bank raised interest rates to a 5 1/2-year high. (Sun, 08 Oct 2006 20:24:20 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sun, 08 Oct 2006 23:21:26 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Sun, 08 Oct 2006 23:22:56 GMT)

What's a 'mortgage accelerator'?
With higher interest rates putting the squeeze on borrowers, a number of readers have heard from a new crop of companies offering a plan to  "accelerate" their mortgages and save them a bundle.  MSNBC.com's Answer Desk has the details -- including some important points the people selling this product won't tell you. (Mon, 09 Oct 2006 01:44:40 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Mon, 09 Oct 2006 05:19:51 GMT)

East Coast mortgage firm picks Phoenix for major hub, hiring 700
Mortgage Lenders Network USA Inc. plans to bring more than 700 jobs to north Phoenix during the next three years. (Mon, 09 Oct 2006 05:40:03 GMT)

Buying a Sunshine Property Abroad? Beacon Mortgage Solutions Expert Advice Helps Dispel The Clouds
Overseas mortgage specialist Beacon Mortgage Solutions(http://www.beaconmortgagesolutions.com) is urging would-be holiday home-owners to seek expert financial advice before investing in property abroad.Even though property prices can be substantially lower than in the UK, Beacon (http://www.beaconmortgagesolutions.com) warns that fees and taxes can add more than ten per cent to the purchase price (Mon, 09 Oct 2006 07:11:31 GMT)

Critics fear cure for FHL Banks' ills
A proposed cure for financial problems at some of the nation's Federal Home Loan Banks might be worse than the ailments it is designed to remedy, critics say. (Mon, 09 Oct 2006 07:25:29 GMT)

Harry Gross | Lender might be willing to ease mortgage burden
Dear Harry: I owe about $90,000 on my mortgage. The monthly payments are so hefty that I have to hold down a part-time job in addition to my regular job. I will inherit about $60,000 this fall, and I'd like to use it to reduce my mortgage. But that would only reduce the number, not the size, of my monthly payments. Unfortunately, a new loan would add 1.75 percent to my interest rate and cost a (Mon, 09 Oct 2006 07:28:45 GMT)

LoanPage.com Helps Homeowners Beat Rising Interesting Rates, Avoid Foreclosure
In a recent report published at LoanPage.com--a complete source of mortgage resources--market analysts identified trends in the subprime home financing market that indicate the potential for unprecedented numbers of foreclosures over the next few years. The article advises adjustable rate mortgage-holders to obtain refinancing before rising interest rates cause a surge of foreclosures. (PRWeb Oct (Mon, 09 Oct 2006 07:28:52 GMT)

Interest only home loan
HSBC Bank Malta plc has introduced the Interest Only Home Loan that allows customers to settle the interest element throughout the term of the loan with the capital being settled in full at the end of the term of the loan. (Mon, 09 Oct 2006 08:14:03 GMT)

Loans help Boiseans put homes in order
Boise's home improvement loan program is administered through Housing and Community Development. The program offers two types of loans: a full home improvement loan and an emergency short-term loan. (Mon, 09 Oct 2006 08:14:57 GMT)

Group helps woman battle back from illness, debt, bad refinancing
The day you move into a new house is always an exciting day. (Mon, 09 Oct 2006 09:29:51 GMT)

No Bubble Burst for PRIME L.A. as Great Financial Mortgage, Inc. Re-signs
Los Angeles based marketing and public relations firm PRIME L.A. has again been retained by home-lending specialists, Great Financial Mortgage Inc., to provide public relations and marketing communications services. (Mon, 09 Oct 2006 09:32:00 GMT)

Mortgage Buyers Finding More Bad Loans
Rob Zenilman submits: Excerpt from our One-Page Annotated News Summary: Bad Loans Draw Bad Blood Summary: Over $2 trillion worth of mortgage backed securities were issued by Wall Street last year. (Mon, 09 Oct 2006 09:34:27 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Mon, 09 Oct 2006 10:35:45 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Mon, 09 Oct 2006 10:36:35 GMT)

Mortgage of the Week
Halifax is offering a fixed rate deal until the 31 December 2008, at a rate of 4.79%, reverting to the standard variable rate for the remaining term of the mortgage, currently 6.75%. The overall cost for comparison is 6.7% APR. An Early Repayment Charge is payable if you repay all or part of the mortgage during the fixed rate period. (Mon, 09 Oct 2006 10:45:09 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Mon, 09 Oct 2006 10:50:33 GMT)

ING enters mortgage market with direct offering
ING Direct has entered the mortgage market this week with a fixed rate and a flexible rate offering. The products are not yet available through intermediaries but ING has begun consulting about how best to work with brokers in future. (Mon, 09 Oct 2006 10:58:04 GMT)

First-time home buyers get tips
MILLSBORO -- As a resort area lacking in affordable housing, Sussex County is not exactly a haven for first-time home buyers. But for those who live here and cannot imagine living anywhere else or are tired of renting or living with their parents, now may be as good a time as any to start thinking about buying -- as prices are starting to come down and the interest rates remain steady. And the (Mon, 09 Oct 2006 11:12:01 GMT)

Bank rates
Major Michigan financial institutions were surveyed last week to determine the interest rates they charge for loans, and APYs they pay for savings deposits. Rates were quoted as of Friday. APYs on deposit accounts are based on the minimum amount to open the account. CD yields are fixed-interest rate offers only. New car loan rates apply to a $20,000 loan for 5 years. Home equity line and loan (Mon, 09 Oct 2006 11:16:52 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Mon, 09 Oct 2006 13:20:13 GMT)

A home built with fizz
When I bought my house in 1989, I didn't have enough to put 20 percent down, but I still sold as much stock as possible to put 17.5 percent down. Unfortunately, I sold about $12,000 of Coca-Cola stock. Over the years that I've owned my home, the Coke stock would have increased in value by much more than my home's value did. I should have only sold enough to put 5 percent down, like the loan (Mon, 09 Oct 2006 13:50:38 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 09 Oct 2006 14:17:58 GMT)

Killed pupil might have run loan scheme
A 14-year-old schoolboy fatally stabbed a fellow pupil at Forest High School in Rosettenville, Johannesburg on Monday, the Gauteng education department said. It is alleged that Simon Mbhele, 19, a Grade 10 pupil at the school ran a loan scheme. (Mon, 09 Oct 2006 14:25:56 GMT)

Have wheels, will loan
GAYLORD - Five brand new wheel chairs have helped to stock the Otsego County United Way medical equipment loan closet. According to Ron Chavey, United Way board member and volunteer, he took his idea to restock the closet to Curt Reppuhn, past president of Rotary. (Mon, 09 Oct 2006 14:41:16 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Mon, 09 Oct 2006 15:25:03 GMT)

Investment banks/mortgage lenders
Getting the wrapping right can only get you so far. That, roughly, is the rationale for the continuing rush of investment banks to scoop up mortgage lenders. (Mon, 09 Oct 2006 15:34:34 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Mon, 09 Oct 2006 15:34:55 GMT)

Tick. Tick. Beware the mortgage time-bomb
Mortgage rates have been trending down, but that won't do much to benefit those who signed up for low-teaser-rate adjustable-rate mortgages in the past few years. (Mon, 09 Oct 2006 15:44:03 GMT)

Mortgage Builder LOS Completes Integration With Clayton Compliance Software
Mortgage Builder Software announced a strategic interface with Clayton Compliance Services. This integration provides a direct link between Mortgage Builder's loan origination system (LOS) and Clayton's Compliance Software Suite, allowing for seamless data flow between the two systems. (Mon, 09 Oct 2006 17:40:51 GMT)

Stabbed pupil was 'loan shark'
A pupil "loan shark" has been stabbed to death, apparently by a 14-year-old, after demanding money he had lent to the teenager. (Mon, 09 Oct 2006 17:57:03 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Mon, 09 Oct 2006 19:56:09 GMT)

Kara Homes in Bankruptcy After Mortgage Payment Offer (Update1)
Oct. 9 (Bloomberg) -- Kara Homes Inc., a luxury builder in New Jersey that sells homes triple the average U.S. house size, filed for bankruptcy after discounts of as much as $246,000 and a year of mortgage payments failed to lure buyers. (Mon, 09 Oct 2006 19:57:25 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Mon, 09 Oct 2006 19:57:30 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Mon, 09 Oct 2006 19:58:40 GMT)

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