Mortgage News Dec 2006
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Robert Bruss: Will 30-year home loan pay off in 15 years with extra monthly payment?
I was told a long time ago if you make one extra home mortgage payment each year on a 30-year fixed-interest-rate loan it will be paid off in 15 years. If that is not true, how many years will it take off the mortgage by making one extra payment every year? — Geri F. (Sun, 10 Dec 2006 05:12:54 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Sun, 10 Dec 2006 06:34:58 GMT)
Houston Mortgage Monitor
INDIVIDUAL LENDER RATES The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on Monday, are for 90 percent loans and do not include origination fees. The numbers in parentheses after the rates are discount points. A point is equal to 1 percent of the loan amount (Sun, 10 Dec 2006 06:44:46 GMT)
Natchez church free of mortgage
NATCHEZ — Songs, prayers and words of gratitude resounded through the sanctuary of Christian Hope Baptist Church Sunday afternoon at their mortgage burning ceremony. (Sun, 10 Dec 2006 06:58:15 GMT)
Refinancing may add sizable interest cost
Q We are in a situation where we owe $250,000 on our mortgage and $88,000 on our second mortgage. We also have $30,000 in credit cards and owe $37,000 on our car. Plus we are paying college bills. We bring home $7,500 per month but now are behind and can't seem to see light. Would it be in our best interest to refinance the whole amount into a mortgage? (Sun, 10 Dec 2006 07:08:08 GMT)
A rising mortgage balance may not harm your credit
Dear Liz: Are credit scores negatively affected by so-called negative amortization loans? I'm talking about the mortgages that allow you to pay less than the minimum interest due on your loan. Any unpaid interest is added to your principal so that your mortgage grows rather than shrinks. Would this rising balance hurt your scores? (Sun, 10 Dec 2006 08:02:30 GMT)
Bank kept owners on tenterhooks
George and Barbara Dawson purchased their home subject to a first mortgage with Great Western Bank, a predecessor of Washington Mutual Bank. The loan fell into default for nonpayment. (Sun, 10 Dec 2006 08:03:20 GMT)
Do the math before making extra loan payments
Q: I was told a long time ago if you make one extra home mortgage payment each year on a 30-year fixed-interest-rate loan it will be paid off in 15 years. If that is not true, how many years will it take off the mortgage by making one extra payment every year? (Sun, 10 Dec 2006 08:16:52 GMT)
Holiday Bills Piling Up? Refinancing Your Car Puts Extra Cash in Your Pocket
(ARA) - The holidays are a wonderful time of year. Co-workers are in a good mood, the family is happy, even cashiers in the stores are more friendly than usual. Unfortunately, the warm, fuzzy feelings seem to last only until the credit card bills from the holiday shopping sprees start to trickle in. (Sun, 10 Dec 2006 08:18:23 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, 10 Dec 2006 08:18:33 GMT)
Foreclosure 'rescue' scams are on the rise
Consumers aren't aware they are signing over their house. | Having tried for months to refinance their home and take it out of foreclosure, Alejandro and Martha Balderas thought they finally found their white knight: a mortgage and real-estate investment company that offers ''foreclosure rescue services.'' (Sun, 10 Dec 2006 08:21:05 GMT)
Foreclosure 'rescue' scams are on the rise
Consumers aren't aware they are signing over their house. | Having tried for months to refinance their home and take it out of foreclosure, Alejandro and Martha Balderas thought they finally found their white knight: a mortgage and real-estate investment company that offers ''foreclosure rescue services.'' (Sun, 10 Dec 2006 08:40:53 GMT)
Mortgage rates a worry to some
WASHINGTON - The future is gnawing at homeowner Scott Klimek. Will the interest rate on his adjustable-rate mortgage go up? Will he be able to afford the monthly payments if it does? (Sun, 10 Dec 2006 08:58:34 GMT)
Mortgage rates at 2nd-lowest level of the year
WASHINGTON - Mortgage rates around the country fell this week, with rates on 30-year mortgages dipping to the second lowest level of the year, pushed down by further signs of economic weakness. (Sun, 10 Dec 2006 08:58:44 GMT)
DUP in new O'Loan inquiry demand
The Police Ombudsman is facing demands from the DUP for an inquiry into her own office. Jeffrey Donaldson MP says revelations about staffing issues in Nuala O'Loan's office are so serious they require independent investigation. (Sun, 10 Dec 2006 09:35:38 GMT)
O.C. mortgage rates decline for third week in a row
Mortgage rates in Orange County fell for the third-straight week. The average rate on a 30-year fixed with a one-point fee dropped to 5.785 percent, said the National Financial News Services. And the introductory rate on a one-year adjustable dipped to 4.353 percent with a two-point fee. (Sun, 10 Dec 2006 11:03:56 GMT)
Mortgage rates spur hope locally for housing revival
EVEN THOUGH both house-for-sale signs and prime interest rates have been on the rise, mortgage rates are heading downward. (Sun, 10 Dec 2006 11:39:29 GMT)
Mortgage rates
Mortgage rates around the country fell last week, with rates on 30-year mortgages dipping to the second lowest level of the year, pushed down by further signs of economic weakness. (Sun, 10 Dec 2006 11:54:15 GMT)
On-line site helps find lowest-cost mortgage
Reed Hauge was more than a little shocked when the hard costs on the quoted loan were $5,200 less than those his mortgage-broker buddy had offered. He was rather peeved, too. (Sun, 10 Dec 2006 12:09:00 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, 10 Dec 2006 12:52:15 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, 10 Dec 2006 12:53:15 GMT)
Examining a vital but misunderstood part of buying a house
Of all the confusing and expensive things about buying a house or refinancing a mortgage -- and there are plenty -- title insurance just might take the prize. (Sun, 10 Dec 2006 13:02:07 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, 10 Dec 2006 13:16:42 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, 10 Dec 2006 13:17:53 GMT)
Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Sun, 10 Dec 2006 17:15:19 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Sun, 10 Dec 2006 17:15:29 GMT)
Take that home loan before the rate rises
The question home buyers are now asking is: With interest rates inching northward, do I wait a while before availing a loan? (Sun, 10 Dec 2006 18:54:41 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Sun, 10 Dec 2006 21:15:12 GMT)
Mortgage funds carrying too much risk
MORTGAGES are not only causing property buyers pain but investors in mortgage securities are also under the hammer. According to a new report by Managed Investment Assessments, most mortgage funds which are available to the public carry too much risk. (Sun, 10 Dec 2006 21:25:07 GMT)
Mortgage funds carrying too much risk
MORTGAGES are not only causing property buyers pain but investors in mortgage securities are also under the hammer. (Sun, 10 Dec 2006 21:44:44 GMT)
CRR heat on home loans
Mumbai, Dec. 10 : Blue-chip companies, home loan seekers and real estate developers may soon have to pay more for their borrowings. (Mon, 11 Dec 2006 00:38:20 GMT)
More households struggle to meet mortgage bills
The number of households struggling to meet mortgage payments has increased, according to Bank of England research. The rise is small but still likely to fuel concerns about households' ability to manage their growing debt burden. (Mon, 11 Dec 2006 02:28:11 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Mon, 11 Dec 2006 02:42:59 GMT)
S.Korea may lift household loan provision ratios
SEOUL, Dec 11 (Reuters) - South Korea's financial watchdog may raise the provisioning ratios on household lending from next year to brace for a possible downturn in home prices, a senior regulatory official said on Monday. (Mon, 11 Dec 2006 04:08:33 GMT)
Home loan rates set to rise
Banks are likely to take a final view on raising interest rates on loans as well as deposits by the end of this week or early next week. (Mon, 11 Dec 2006 05:03:43 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, 11 Dec 2006 05:59:17 GMT)
Holiday Bills Piling Up? Refinancing Your Car Puts Extra Cash in Your Pocket
(ARA) - The holidays are a wonderful time of year. Co-workers are in a good mood, the family is happy, even cashiers in the stores are more friendly than usual. Unfortunately, the warm, fuzzy feelings seem to last only until the credit card bills from the holiday shopping sprees start to trickle in. (Mon, 11 Dec 2006 06:00:07 GMT)
NetBank sues former chief of mortgage unit
NetBank Inc. is suing the former head of the Alpharetta-based bank's mortgage subsidiary for $1.1 million in disputed pay. (Mon, 11 Dec 2006 06:19:50 GMT)
HMDA: Banks score poorly in minority mortgage lending
Area banks don't score well on the number of mortgage loans made to minorities. The Home Mortgage Disclosure Act requires banks to disclose their mortgage loan activity, said Jean Ishmon, president of the Northwest Indiana Community Reinvestment Alliance. (Mon, 11 Dec 2006 07:00:46 GMT)
Mortgage Rates 2nd-Lowest Of Year
Mortgage rates around the country fell this week, with rates on 30-year mortgages dipping to the second-lowest level of the year, pushed down by further signs of economic weakness. (Mon, 11 Dec 2006 08:25:11 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, 11 Dec 2006 09:15:14 GMT)
Comparing a HELOC to a refinance
You're probably better off with the line of credit, says Dr. Don. (Mon, 11 Dec 2006 11:00:00 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. (Mon, 11 Dec 2006 11:24:36 GMT)
More households struggle with mortgage payments
The number of households struggling to repay their mortgage debt has risen, according to figures released today by the Bank of England. The Bank's quarterly bulletin revealed that 7.7% of homeowners reported problems paying for their accommodation. (Mon, 11 Dec 2006 11:39:36 GMT)
Conforming loans good for home buyers
PRESS DEMOCRAT: The conforming loan limit is set as the highest amount of loan Fannie Mae and Freddie Mac will buy. Why did Congress establish the limit in 1980? (Mon, 11 Dec 2006 11:44:08 GMT)
More households struggle with mortgage payments
The number of those struggling to repay their mortgage debt has risen, according to figures released today by the Bank of England. (Mon, 11 Dec 2006 11:56:01 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Mon, 11 Dec 2006 11:57:27 GMT)
Mortgage of the week
The Alliance & Leicester is offering a fixed rate deal until 31 December 2008, at a rate of 4.84 per cent, reverting to the standard variable rate for the remaining term of the mortgage, currently 7.09 per cent. (Mon, 11 Dec 2006 12:06:57 GMT)
Leeds first lender to join Society of Mortgage Professionals
Leeds Building Society has joined the Society of Mortgage Professionals. Leeds is the first mortgage lender to enrol 30 of its mortgage advisers and branch managers with the Society of Mortgage Professionals. (Mon, 11 Dec 2006 12:13:43 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Mon, 11 Dec 2006 12:15:14 GMT)
Comparing a HELOC to a refinance
Dear Dr. Don, I currently owe $137,000 on a first mortgage at 6 percent and am considering a HELOC for home improvements. Most banks are offering interest-only loans. I'm wondering if this is a good choice or should I refinance the current mortgage to get cash out at 25 years. (Mon, 11 Dec 2006 12:28:53 GMT)
Mortgage insurance premiums to be tax deductible
WASHINGTON - Premiums on private and government mortgage insurance will become tax-deductible next year for some borrowers for the first time under legislation passed by Congress. (Mon, 11 Dec 2006 13:54:52 GMT)
Allied Mortgage and Financial Corporation Completes Cash-out Refinance in Vegas
SUNRISE, Fla.----Allied Mortgage and Financial Corporation , a wholesale collateral-based lender specializing in hard equity, today announced it has completed the cash-out refinance of a 21,807-square foot office and manufacturing building in Las Vegas, Nevada. (Mon, 11 Dec 2006 14:00:00 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, 11 Dec 2006 16:13:37 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, 11 Dec 2006 16:42:55 GMT)
Natchez church free of mortgage
NATCHEZ — Songs, prayers and words of gratitude resounded through the sanctuary of Christian Hope Baptist Church Sunday afternoon at their mortgage burning ceremony. (Mon, 11 Dec 2006 16:43:59 GMT)
GERI: Expansion of Mortgage Services Within Financial Division
Global Energy Resources, Inc. (GERI) announced the expansion of mortgage services within its Financial Division as the result of the completion of GERI's acquisition of Saddleback Funding Corporation, a Laguna Hills, California-based Mortgage Bank. It is anticipated that Saddleback Funding's loan volume will approach $80 million for the year 2006. (Mon, 11 Dec 2006 18:07:46 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Mon, 11 Dec 2006 18:07:51 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Mon, 11 Dec 2006 18:08:01 GMT)
Fitch Rates Thornburg Mortgage's Unsec. Sub 'BB-'; Lowers Preferred Stock to 'B+'; Outlook Negative
NEW YORK----Fitch Ratings has affirmed the 'BB' ratings for Thornburg Mortgage, Inc.'s Issuer Default Rating and senior unsecured notes. Fitch has also assigned a 'BB-' rating to Thornburg's unsecured subordinate notes and downgraded the preferred stock to 'B+' from 'BB-'. (Mon, 11 Dec 2006 18:42:00 GMT)
Private Mortgage Banking Group appoints new vice president, jumbo loans expert
Metrocities Mortgage, LLChas appointed Ira Meltzer as a Vice President and Loan Officer in its Private Mortgage Banking Group’s (PMBG) Palm Desert Loan Center. (Mon, 11 Dec 2006 19:15:13 GMT)
Take that home loan before the rate rises
MUMBAI: The question home buyers are now asking is: With interest rates inching northward, do I wait a while before availing a loan? The consensus answer is: No. Interest rates are expected to move further up in the near future. (Mon, 11 Dec 2006 19:38:24 GMT)
U.S. Mortgage Rates Keep Sliding
U.S. mortgage rates remain in freefall with the average 30-year fixed rate mortgage tumbling to 6.08 percent, the lowest since October 2005. (Mon, 11 Dec 2006 19:42:59 GMT)
CIBC, TD Canada Trust and Desjardins Group lower residential mortgage rates
TORONTO (CP) - CIBC (TSX:CM), TD Canada Trust (TSX:TD) and Desjardins Group lowered their posted residential mortgage rates on Monday. (Mon, 11 Dec 2006 21:15:00 GMT)
Mortgage Delinquencies a Rising Threat
Rising Mortgage Delinquencies Could Especially Hurt Low-Income Families (Mon, 11 Dec 2006 21:57:29 GMT)
Mortgage delinquencies and foreclosures on the rise
Some experts are concerned that the increase in mortgage foreclosure rates could affect the banking system's financial health. (Mon, 11 Dec 2006 21:58:18 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. (Mon, 11 Dec 2006 22:11:40 GMT)
Rising mortgage delinquencies could especially hurt low-income families
WASHINGTON- Mortgage delinquency and foreclosure rates are on the rise, and the impact could be greatest on low-income families that took out higher-interest loans for risky borrowers, some experts said... (Mon, 11 Dec 2006 22:15:35 GMT)
Mortgage Rates Drop Nationally
Lower rates attract applications (Mon, 11 Dec 2006 22:31:20 GMT)
Canada a world leader in mortgage fraud, investigators warn
TORONTO (CP) - Canada is becoming a global trendsetter in the burgeoning business of mortgage fraud, say law-enforcement experts and investigators gathered this week at an international crime conference. (Mon, 11 Dec 2006 22:39:00 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, 11 Dec 2006 23:08:06 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Mon, 11 Dec 2006 23:09:25 GMT)
Several Canadian banks lowering their residential mortgage rates
TORONTO (CP) - Several of Canada's big banks are lowering their posted residential mortgage rates. (Mon, 11 Dec 2006 23:47:00 GMT)
Several Canadian banks lowering their residential mortgage rates
TORONTO (CP) - Several of Canada's big banks are lowering their posted residential mortgage rates. TD Canada Trust (TSX:TD) is lowering the rate on its five-year closed mortgages by 0.05 of a percentage point to 6.45 per cent effective Tuesday. (Tue, 12 Dec 2006 00:01:32 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. (Tue, 12 Dec 2006 00:08:51 GMT)
Mortgage Delinquencies a Rising Threat
Mortgage delinquency and foreclosure rates are on the rise, and the impact could be greatest on low-income families that took out higher-interest loans for risky borrowers, some experts said Monday. Treasury Secretary Henry Paulson said the government... (Tue, 12 Dec 2006 01:26:30 GMT)
Mortgage delinquencies a rising threat
Mortgage delinquency and foreclosure rates are on the rise, and the impact could be greatest on low-income families that took out higher-interest loans for risky borrowers, some experts said Monday. (Tue, 12 Dec 2006 02:26:26 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. (Tue, 12 Dec 2006 02:38:01 GMT)
Mortgage Defaults Threaten Dream
WASHINGTON - Mortgage delinquency and foreclosure rates are on the rise, and the effect could be greatest on low-income families that took out higher-interest loans for risky borrowers, some experts said Monday. (Tue, 12 Dec 2006 03:38:00 GMT)
Charter school system receives $500,000 loan
A free and popular alternative to public schools is stirring up controversy in Cape Coral. The Cape's charter schools are hundreds of thousands of dollars in debt. But the Cape Coral City Council has voted to loan the schools $500,000 after originally vowing not to give them a cent. (Tue, 12 Dec 2006 04:45:24 GMT)
Bridge Loan
You need to close on your new home, but your old home hasn't been sold yet. You don't have to walk away, but one solution can be expensive. Real Estate Attorney Neil Garfinkle explains, “A Bridge Loan is a concept. (Tue, 12 Dec 2006 08:01:01 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Tue, 12 Dec 2006 09:15:24 GMT)
New Century: This REIT Provides 20% Yield In a Cooling Housing Market
Carla Pasternak submits: When house prices were rising sharply New Century , a sub-prime lender, attracted home buyers with weak credit histories to take out loans. A booming housing market made these loans less risky, since the borrower could refinance an existing mortgage by using a rapidly appreciating house as collateral, if [... ] (Tue, 12 Dec 2006 09:50:26 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. (Tue, 12 Dec 2006 10:28:58 GMT)
Holiday Bills Piling Up? Refinancing Your Car Puts Extra Cash in Your Pocket
(ARA) - The holidays are a wonderful time of year. Co-workers are in a good mood, the family is happy, even cashiers in the stores are more friendly than usual. Unfortunately, the warm, fuzzy feelings seem to last only until the credit card bills from the holiday shopping sprees start to trickle in. (Tue, 12 Dec 2006 10:29:48 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. (Tue, 12 Dec 2006 10:29:58 GMT)
Orem to refinance some of the city bonds
Finance 101: Paying a lower interest rate is good. It's true for credit cards, car loans and mortgages. It's also true for a city that sold bonds to finance a street lights project and build a public safety building. So, when the chance came along for Orem to refinance some of its bonds, city leaders decided to go for it. (Tue, 12 Dec 2006 10:36:14 GMT)
Mortgage delinquencies may hurt poor families
WASHINGTON -- Mortgage delinquency and foreclosure rates are on the rise, and the impact could be greatest on low-income families that took out higher-interest loans for risky borrowers, some experts said Monday. Treasury Secretary Henry Paulson said the government wants to issue guidelines to banks and savings and loans that will allow people to get home loans "without taking unnecessary ... (Tue, 12 Dec 2006 10:38:49 GMT)
Mortgage chief shocked by Prime Time programme
The head of the Independent Mortgage Advisers Federation has described last night's RTÉ Prime Time Investigates programme, which exposed a number of dubious practices employed by estate agents, as shocking. (Tue, 12 Dec 2006 11:07:21 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Tue, 12 Dec 2006 11:09:38 GMT)
Tax bill passed by Congress helps 1st-time home buyers
Legislation that Congress passed over the weekend contains a provision that would result in tax savings for many first-time home buyers next year. (Tue, 12 Dec 2006 11:17:19 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Tue, 12 Dec 2006 11:20:53 GMT)
The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Tue, 12 Dec 2006 11:21:13 GMT)
Leeds joins Society of Mortgage Professionals
Leeds has enrolled 30 of its mortgage advisers and branch managers with the Society of Mortgage Professionals. Richard Fox, chief executive officer, Society of Mortgage Professionals, said: "Leeds is the first building society to make public its commitment to professionalism in this way. (Tue, 12 Dec 2006 11:26:54 GMT)
Services-On-Tap Announces Mortgage Lead Generation Tips
(PRWeb) December 12, 2006 -- Services-On-Tap offers tips for generating leads as the real estate market cools off and mortgage brokers are increasingly challenged to make their volume goals. (Tue, 12 Dec 2006 12:00:00 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. (Tue, 12 Dec 2006 12:02:19 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. (Tue, 12 Dec 2006 12:20:53 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. (Tue, 12 Dec 2006 12:34:39 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. (Tue, 12 Dec 2006 12:49:19 GMT)
Council Approves Loan, But Mayor Warns It Won't Be Enough
The Harrisburg city council approved a $7 million loan Monday night. Mayor Stephen Reed had requested a 10.5 million loan. (Tue, 12 Dec 2006 13:17:46 GMT)
Attorney Convicted In Alleged Mortgage Scheme
A federal jury in Chicago has convicted a 60-year-old attorney of bank fraud in what prosecutors say was a mortgage scheme. (Tue, 12 Dec 2006 14:24:06 GMT)
Hancock Bank to offer new loan
GULFPORT — Hancock Bank will offer a new type of disaster relief construction loan to assist area homeowners in rebuilding and repairing homes affected by Hurricanes Katrina and Rita. The Hancock Bank Home Recovery Construction Loan will allow homeowners to borrow yup to 103% of the appraised value of the home. (Tue, 12 Dec 2006 15:50:28 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Tue, 12 Dec 2006 16:31:27 GMT)
Mortgage Rates Drop Nationally
Dec. 8--A national association of mortgage professionals said lower rates are attracting applications, although in the Inland region, opinions on what that means are mixed. (Tue, 12 Dec 2006 16:54:23 GMT)
Countrywide's mortgage funding down 11% in November
Countrywide Financial Corp. reported $38 billion in mortgage loan fundings in November, down 11 percent from a year ago, the company said Tuesday. (Tue, 12 Dec 2006 17:38:02 GMT)
Services-On-Tap Announces Mortgage Lead Generation Tips
Services-On-Tap announces lead generation tips for how to determine and verify quality mortgage leads in a slow real estate market. (PRWeb Dec 12, 2006) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/VGhpci1DcmFzLVpldGEtTWFnbi1NYWduLVplcm8= (Tue, 12 Dec 2006 18:17:17 GMT)
Hancock Bank Offers New Mortgage Loan Product to Aid Rebuilding
GULFPORT, Miss., Dec. 12, 2006 (PRIME NEWSWIRE) -- Hancock Bank mortgage executives announced today that the 107-year-old company will offer an innovative new type of disaster relief construction loan to assist Gulf South homeowners repairing or rebuilding homes in areas affected by hurricanes Katrina and Rita. The Hancock Bank Home Recovery Construction Loan is a unique product that will allow ... (Tue, 12 Dec 2006 18:43:45 GMT)
Mortgage fraud an 'absolute epidemic,' conference told
Canada is becoming a global trendsetter in mortgage fraud, a crime and risk management expert told an anti-fraud conference that opened in Toronto on Tuesday. (Tue, 12 Dec 2006 18:49:57 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Tue, 12 Dec 2006 18:52:43 GMT)
Data watchdog investigates mortgage brokers
The Data Protection Commissioner has launched an investigation into the practices of some mortgage brokers which were uncovered in last night's Prime Time Investigates programme. (Tue, 12 Dec 2006 19:15:51 GMT)
Hancock Bank Offers New Mortgage Loan Product to Aid Rebuilding
GULFPORT, MS, Dec. 12, 2006 -- Hancock Bank mortgage executives announced today that the 107-year-old company will offer an innovative new type of disaster relief construction loan to assist Gulf South homeowners repairing or rebuilding homes in areas affected by hurricanes Katrina and Rita. (Tue, 12 Dec 2006 19:43:45 GMT)
Omega Bank Forms Joint Mortgage Venture
Omega Bank has formed a joint venture with American Home Bank, N.A. to expand the variety of mortgage products the bank can offer its marketplace, according to bank officials. (Tue, 12 Dec 2006 21:00:00 GMT)
Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Tue, 12 Dec 2006 21:05:10 GMT)
Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Tue, 12 Dec 2006 21:20:55 GMT)
Rams loan star want to return home
On loan star Arturo Lupoli has stunned Rams boss Billy Davies after admitting he wants to return home to Italy when the January transfer window opens. (Tue, 12 Dec 2006 22:30:58 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. (Tue, 12 Dec 2006 22:31:54 GMT)
Mortgage brokers face tougher rules
New legislation will protect borrowers who seek advice when looking for a home loan. (Tue, 12 Dec 2006 22:38:55 GMT)
Nothing like a mortgage for happiness
MELBOURNE, Dec. 12 (UPI) -- An Australian researcher finds that making payments on a mortgage is a good way to feel better. (Tue, 12 Dec 2006 23:13:42 GMT)
Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Tue, 12 Dec 2006 23:36:20 GMT)
Government Looks for Ways to Ease Mortgage Risks
Mortgage lenders often emphasize the low initial payments, but gloss over the possibility of higher payments later, according to John Dugan, U.S. Comptroller of the Currency. Dugan says the government is addressing problems that arise from non-traditional mortgages. (Wed, 13 Dec 2006 00:06:51 GMT)
Countrywide mortgage funding off 11%
Countrywide Financial Corp. reported $38 billion in mortgage loan fundings in November, down 11 percent from a year ago. (Wed, 13 Dec 2006 00:17:08 GMT)
Foreclosure May Loom for Families with Risky Loans
The slowdown in the housing market has made some people feel a little less rich -- but for others it could spell real trouble. Pam Weisel and her husband have a zero-down-payment, interest-only adjustable-rate home loan. And because of financial problems, they are unable to make their payments. They are now facing foreclosure. (Wed, 13 Dec 2006 00:53:56 GMT)
LA man to face charges in $50 million mortgage fraud scheme
A local real estate developer accused of running a $50 million mortgage fraud scheme arrived in the United States from Samoa on Tuesday to face federal criminal charges, authorities said. (Wed, 13 Dec 2006 01:55:01 GMT)
Holiday Bills Piling Up? Refinancing Your Car Puts Extra Cash in Your Pocket
(ARA) - The holidays are a wonderful time of year. Co-workers are in a good mood, the family is happy, even cashiers in the stores are more friendly than usual. Unfortunately, the warm, fuzzy feelings seem to last only until the credit card bills from the holiday shopping sprees start to trickle in. (Wed, 13 Dec 2006 02:18:26 GMT)
Allied Home Mortgage Capital opens 3rd Hawai'i office
Allied Home Mortgage Capital Corp. said it opened a new Honolulu branch office, its third in the state. Wayne Lee was named manager of the branch at 500 Ala Moana. Allied Home Mortgage has more than 650 offices offering a variety of mortgage products from more than 800 lenders. (Wed, 13 Dec 2006 02:21:20 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. (Wed, 13 Dec 2006 02:47:56 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. (Wed, 13 Dec 2006 05:00:51 GMT)
Natchez church free of mortgage
NATCHEZ — Songs, prayers and words of gratitude resounded through the sanctuary of Christian Hope Baptist Church Sunday afternoon at their mortgage burning ceremony. (Wed, 13 Dec 2006 06:46:03 GMT)
Ask the Biz Brain
I currently owe $137,000 on a first mortgage at 6 percent and am considering a home-equity line of credit for home improvements. Most banks are offering interest-only loans. I'm wondering if this is a good choice or should I refinance the current mortgage to get cash out at 25 years. (Wed, 13 Dec 2006 06:46:14 GMT)
Mortgage rates drop for first-time buyers
PIERRE (AP) - Mortgage rates have been lowered for first-time home buyers applying for a loan through the South Dakota Housing Development Authority. The interest rate on the standard 30-year fixed-rate loan is 5.125 percent. (Wed, 13 Dec 2006 06:47:29 GMT)
Interest Only Home Equity Loans Featuring a Fixed Second Mortgage Rate from BD Nationwide
BD Nationwide Mortgage introduces an affordable only home equity loan that features an interest only payment option with a fixed rate. This second mortgage allows borrowers to get a fixed mortgage rate while also benefitting from a reduced payment and increased cash flow. Homeowners have the luxury of converting their home equity line of credit into a fixed rate second mortgage while keeping the ... (Wed, 13 Dec 2006 08:39:24 GMT)
How Much We Make: Megan Kalny-Armstrong, 24, vice president and part owner of a mortgage company
In her third year in the mortgage business, at age 22, Kalny-Armstrong earned $178,000. It was 2004, a booming year for the biz. (Wed, 13 Dec 2006 10:11:12 GMT)
Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Wed, 13 Dec 2006 10:29:37 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Wed, 13 Dec 2006 10:30:08 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. (Wed, 13 Dec 2006 11:33:31 GMT)
Nothing like a mortgage for happiness
MELBOURNE, Australia, Dec. 13 -- An Australian researcher finds that making payments on a mortgage is a good way to feel better. (Wed, 13 Dec 2006 11:34:35 GMT)
Interest Only Home Equity Loans Featuring a Fixed Second Mortgage Rate from BD Nationwide
(PRWeb) December 13, 2006 -- BD Nationwide Mortgage introduces an affordable only home equity loan that features an interest only payment option with a fixed rate. (Wed, 13 Dec 2006 12:00:00 GMT)
Mortgage applications rise to 1-year high
WASHINGTON (MarketWatch) -- The volume of applications for mortgages from major U.S. banks climbed to the highest level in more than a year last week, the Mortgage Bankers Association reported Wednesday. (Wed, 13 Dec 2006 12:07:28 GMT)
Mortgage Loan Application Volume Climbs
(RTTNews) - The volume of mortgage applications jumped sharply higher in the most recent week, adding to an improvement shown in the previous period. The recent rise in mortgage volume was led by a significant pick up in refinancing activity. (Wed, 13 Dec 2006 12:38:12 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. (Wed, 13 Dec 2006 12:50:29 GMT)
U.S. MBA Mortgage Applications Index Rose 11.4% Last Week
Dec. 13 (Bloomberg) -- Mortgage applications in the U.S. jumped last week to the highest level in more than a year as lower mortgage rates spurred home purchases and refinancing. (Wed, 13 Dec 2006 12:50:34 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 13 Dec 2006 12:50:50 GMT)
Mortgage applications rise, rates back up
Mortgage applications rose as interest rates recovered slightly from last week's 14-month low, an industry trade group reported Wednesday. (Wed, 13 Dec 2006 13:22:03 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 13 Dec 2006 13:35:16 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 13 Dec 2006 14:17:14 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Wed, 13 Dec 2006 14:17:44 GMT)
Ricoh makes Currie feel at home
NEW Coventry City star Darren Currie is making the Ricoh Arena his home in more ways than one. The on-loan Ipswich Town player is living the Arena Hotel at the £113 million multi-purpose complex ahead of games. (Wed, 13 Dec 2006 14:49:41 GMT)
Currie's Home From Home
Darren Currie,currently enjoying his loan spell at Coventry City has admitted that he literally has made the Ricoh Arena his home. (Wed, 13 Dec 2006 15:50:43 GMT)
U.S. mortgage applications jump in latest week
Applications for U.S. home mortgages rose to their highest levels in over a year last week as home purchases and loan refinancings continued to rebound, an industry group said Wednesday. (Wed, 13 Dec 2006 16:27:05 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. (Wed, 13 Dec 2006 16:52:15 GMT)
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