Mortgage News Jan 2007

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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, 01 Jan 2007 00:16:38 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, 01 Jan 2007 01:44:04 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, 01 Jan 2007 01:44:54 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. (Mon, 01 Jan 2007 01:45:25 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, 01 Jan 2007 02:57:19 GMT)

Henger put mortgage banking firm on fast track
In January 2005 Rob Henger bought a stake in a small brokerage, Rast Mortgage, and took the helm as its managing partner. (Mon, 01 Jan 2007 05:02:40 GMT)

Low interest rates boost refinancings to record levels
With refinancing hitting its highest level across the nation in more than two years, mortgage brokerages are cutting fees and closing costs to attract new business. (Mon, 01 Jan 2007 05:02:50 GMT)

In need of a loan? Beware of car equity
Strapped for cash, James Haga of Marion, Va., took out a $1,600 loan last year, using his truck as collateral. In August, when he couldn't keep up with the escalating balance, Haga's Ford was repossessed. (Mon, 01 Jan 2007 07:55:09 GMT)

FEMA loan not enough to save endangered Castle Rock home
Dave and Judi Foskette, the Castle Rock couple whose mobile home is at risk of sliding down an eroding hill, have received about 3,200 in federal disaster assistance from the Federal Emergency Management Agency. (Mon, 01 Jan 2007 08:31:01 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. (Mon, 01 Jan 2007 09:20:19 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, 01 Jan 2007 10:29:19 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, 01 Jan 2007 10:29:49 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Mon, 01 Jan 2007 11:33:10 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, 01 Jan 2007 12:16:48 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. (Mon, 01 Jan 2007 12:17:39 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. (Mon, 01 Jan 2007 12:35:00 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, 01 Jan 2007 12:57:05 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. (Mon, 01 Jan 2007 13:20:11 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, 01 Jan 2007 13:45:06 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, 01 Jan 2007 14:17:03 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. (Mon, 01 Jan 2007 17:22:17 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, 01 Jan 2007 17:23:17 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. (Mon, 01 Jan 2007 17:23:27 GMT)

The dooms day for mortgage bankers and mortgage brokers as long bonds get ready to send chill in the Wall Street
The analytics and quantitative models were manifesting trouble for a long time. The bond market was supported by immense buying power of the Chinese and the Japanese central banks. Now the moment of truth has come. (Mon, 01 Jan 2007 19:49:21 GMT)

FHL San Francisco Awards $2.9M in Affordable Housing Grants
DECEMBER 21, 2006 -- Phoenix -- The Federal Home Loan Bank of San Francisco (FHL San Francisco) has awarded about $2.9 million in grants to five development projects that will create 777 new affordable housing units in the Phoenix area. (Mon, 01 Jan 2007 20:04:55 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, 01 Jan 2007 21:05:31 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, 01 Jan 2007 23:36:30 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Mon, 01 Jan 2007 23:38:14 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, 02 Jan 2007 00:01:21 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? (Tue, 02 Jan 2007 00:02:41 GMT)

States Swift to Warn Mortgage Lenders
Nineteen states and the District of Columbia have moved quickly to warn state-regulated lenders about the hazards to consumers from nontraditional mortgages. (Tue, 02 Jan 2007 01:54:37 GMT)

Are You in the Right Mortgage?
(ARA) - Most people who buy a home put their mortgage in a drawer -- they close on the loan and make their payments every month and don't think about it beyond that. But what they may not realize is that being in the wrong mortgage for your current situation can hurt you by costing you money. (Tue, 02 Jan 2007 02:14:47 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. (Tue, 02 Jan 2007 02:15:07 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. (Tue, 02 Jan 2007 02:15:58 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. (Tue, 02 Jan 2007 04:48:08 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. (Tue, 02 Jan 2007 05:00:06 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, 02 Jan 2007 05:47:30 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. (Tue, 02 Jan 2007 06:47:11 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 02 Jan 2007 07:19:37 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. (Tue, 02 Jan 2007 07:19:47 GMT)

Mortgage equity withdrawal rises
LONDON (Reuters) - Rising house prices encouraged Britons to take more cash out of their homes in the third quarter than the second, Bank of England data showed on Friday. (Tue, 02 Jan 2007 07:52:43 GMT)

Harry Gross | Home seller gets a tempting offer from a friend
Dear Harry: I bought my home for $20,000 in 1997. I put it on the market last week because I'm getting married and moving to Chicago. My price is $50,000. I was approached by a friend who offered me a deal for $75,000 so he can get a 100 percent mortgage and have me return the excess to him to help him pay off some of his debts. How much of the extra money should I withhold from my payment to him ... (Tue, 02 Jan 2007 08:08:40 GMT)

Telecomworx Announced a New Partnership with First Guardian Mortgage Corporation and Dexter Manley
Telecomworx a telecommunications interconnect services firm offering traditional and IP-PBX systems and network services since 1979, announced a new partnership with First Guardian Mortgage Corporation and Dexter Manley. (PRWeb Jan 2, 2007) (Tue, 02 Jan 2007 08:13:25 GMT)

FEMA loan not enough to save endangered Castle Rock home
Dave and Judi Foskette, the Castle Rock couple whose mobile home is at risk of sliding down an eroding hill, have received about 3,200 in federal disaster assistance from the Federal Emergency Management Agency. (Tue, 02 Jan 2007 08:31:09 GMT)

Don't Forget to Tap Your Mortgage for Valuable Tax Deductions
(ARA) - If you're a homeowner, it's always a good idea to make sure you haven't missed any tax deductions. You may not be able to take all of these deductions, so please check with your tax advisor. (Tue, 02 Jan 2007 10:29:18 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, 02 Jan 2007 10:29:59 GMT)

Woolwich launches new mortgage range
Woolwich, is starting 2007 with a new mortgage range that includes its best ever life time tracker deal as well as two best buy fixed rates. ... (Tue, 02 Jan 2007 10:52:45 GMT)

Don't refinance into negative amortization loan
You won't make enough in a money market account to compensate, says Dr. Don. (Tue, 02 Jan 2007 11:00:00 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. (Tue, 02 Jan 2007 11:28:57 GMT)

The Leeds launches a New Year mortgage sale
LEEDS Building Society is launching the New Year with a mortgage sale. (02/01/2007 11:29:24) (Tue, 02 Jan 2007 11:37:49 GMT)

Mortgage Industry Insider - Weekly Insight from MortgageDaily.com
A Calif.-based company is "aggressively seeking new acquisition candidates in the mortgage services sector," according the latest headlines from MortgageDaily.com -- the dominant source of online news for the mortgage industry. (Tue, 02 Jan 2007 12:00:00 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. (Tue, 02 Jan 2007 12:15:58 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. (Tue, 02 Jan 2007 12:17:19 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? (Tue, 02 Jan 2007 12:17:29 GMT)

Don't refinance into negative amortization loan
Dear Dr. Don, My friend's mortgage broker is talking him into refinancing his current 5 percent ARM into a negative amortization mortgage. (Tue, 02 Jan 2007 12:34:52 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, 02 Jan 2007 13:02:16 GMT)

Mortgage Lender Stops Funding New Loans
Mortgage Lenders Network USA, a major issuer of loans to people with blemished credit histories, says it has stopped funding loans and accepting applications for new loans. (Tue, 02 Jan 2007 15:45:23 GMT)

New Ohio Insurance Law Likely To Add To Home Purchase Costs
The cost of buying a home in Ohio is likely to go up a few dollars this year. (Tue, 02 Jan 2007 15:45:23 GMT)

Understanding Mortgage Brokers
Do you need a mortgage broker? (Tue, 02 Jan 2007 16:28:08 GMT)

Mortgage Industry Insider - Weekly Insight from MortgageDaily.com
the dominant source of online news for the mortgage industry. (Tue, 02 Jan 2007 16:43:02 GMT)

Ownit Mortgage Files for Bankruptcy
Ownit Mortgage Solutions Inc., a subprime mortgage lender, filed for bankruptcy last Thursday, just a few weeks after it stopped making new loans. (Tue, 02 Jan 2007 17:25:00 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. (Tue, 02 Jan 2007 17:36:41 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. (Tue, 02 Jan 2007 17:39:07 GMT)

Are You in the Right Mortgage?
(ARA) - Most people who buy a home put their mortgage in a drawer -- they close on the loan and make their payments every month and don't think about it beyond that. But what they may not realize is that being in the wrong mortgage for your current situation can hurt you by costing you money. (Tue, 02 Jan 2007 18:13:45 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. (Tue, 02 Jan 2007 18:14:05 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. (Tue, 02 Jan 2007 18:14:14 GMT)

Mortgage Lenders Network stops issuing new loans
WALLINGFORD - Mortgage Lenders Network, USA, which is building a new corporate headquarters at the intersection of Leigus Road and Route 68, has stopped funding loans and accepting applications for new loans, according to a notice on the company's Web site. (Tue, 02 Jan 2007 18:14:14 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, 02 Jan 2007 18:15:06 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 02 Jan 2007 18:17:20 GMT)

January 2007
Paperless Mortgages: The Broker Pens Her Own Program Hawaiian mortgage broker Donna Iwane was frustrated by cumbersome processing, so she developed a Web application that creates loan proposals in less than a minute. (Tue, 02 Jan 2007 19:03:48 GMT)

How to Finance a Fixer-Upper Home
(ARA) - A home that needs a lot of repair is what's known as a "fixer-upper" because it needs to be "fixed up." There are several reasons you might buy a fixer-upper. (Tue, 02 Jan 2007 19:09:53 GMT)

National City Closes Mortgage Unit Sale
National City Corp. said Tuesday it has completed its $1.3 billion sale of mortgage lender First Franklin and affiliates to Merrill Lynch & Co. (Tue, 02 Jan 2007 19:23:54 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? (Tue, 02 Jan 2007 20:01:26 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, 02 Jan 2007 20:18:51 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. (Tue, 02 Jan 2007 20:19:01 GMT)

Mortgage Lenders Network Halts Loans as Housing Slows (Update1)
Jan. 2 (Bloomberg) -- Mortgage Lenders Network USA Inc. became the third company in a month to stop issuing loans as U.S. housing sales slowed and defaults by borrowers rose. (Tue, 02 Jan 2007 20:39:38 GMT)

From Mobile Home Owners To Millionaires
Joke all you want about living in a mobile home, but a group of Floridians doing just that may soon be having the last laugh -- all the way to the bank. (Tue, 02 Jan 2007 20:41:32 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. (Tue, 02 Jan 2007 20:42:50 GMT)

From Mobile Home Owners To Millionaires
Joke all you want about living in a mobile home, but a group of Floridians doing just that may soon be having the last laugh -- all the way to the bank. (Tue, 02 Jan 2007 22:03:43 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 02 Jan 2007 22:30:34 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. (Tue, 02 Jan 2007 22:30:44 GMT)

FHLBank of Cincinnati Promotes New CFO, Other Executives
WASHINGTON -(Dow Jones)- The Federal Home Loan Bank of Cincinnati announced the promotions of a new chief financial officer and other top executives Tuesday as part of a strategy it said was aimed to consolidate management and strengthen risk management. (Tue, 02 Jan 2007 22:52:56 GMT)

Mortgage Lenders Network Halts Loans as Housing Slows (Update3)
Jan. 2 (Bloomberg) -- Mortgage Lenders Network USA Inc. became the third company in a month to stop issuing some loans as U.S. housing sales slowed and defaults by borrowers rose. (Tue, 02 Jan 2007 23:10:27 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Tue, 02 Jan 2007 23:35:50 GMT)

UPDATE: How To Protect Yourself From Shady Mortgage Pitches
CHICAGO (Dow Jones) -- Brian Diez, a former military man, entered the mortgage business after a career as a stockbroker, figuring the field would offer him an altruistic benefit -- helping families buy their first homes. (Wed, 03 Jan 2007 02:08:39 GMT)

Mortgage insurance becomes tax deductible next year
Mortgage insurance will be tax-deductible in 2007. For some homeowners, the new law means it will cheaper to get mortgage insurance instead of getting piggyback loans. The 109th Congress passed the tax law in its final hours. Hundreds of thousands of homeowners will save a total of $91 million when they file their tax returns in 2008, according to estimates by the mortgage insurance industry. (Wed, 03 Jan 2007 02:35:45 GMT)

Here are seven mortgage tips for 2007
Whether you already have a mortgage or you plan to buy a house in the next year, here are seven mortgage tips for 2007. (Wed, 03 Jan 2007 02:36:12 GMT)

Robert Bruss: Mortgage broker reveals shocking insider facts
The only people who should read “Mortgage Confidential” by mortgage broker David Reed are home buyers who want to avoid unnecessary mortgage fees, homeowners who want to refinance and save money, and real estate agents looking out for the best interests of their buyers. All others should avoid reading this superb new book because you will be shocked by what goes on in the home-loan industry. (Wed, 03 Jan 2007 02:51:14 GMT)

Robert Bruss: What to do when foreclosure threatens
DEAR BOB: Due to illness and unemployment, we have fallen two months behind on our mortgage payments. My husband is now back at work and I’ve taken a part-time job to help with the bills. After receiving several threatening letters and even a phone call, the mortgage company filed foreclosure about three weeks ago. They say we are three months behind in payments. (Wed, 03 Jan 2007 02:51:25 GMT)

Private Mortgage Insurance now Tax Deductible
If the cost of private mortgage insurance has kept you out of buying a new home, now might be the time to rethink it. T he feds passed a law late 2006 that makes private mortgage insurance tax deductible. (Wed, 03 Jan 2007 03:51:53 GMT)

30-year mortgage rates increase for third week in row
Rates on 30-year mortgages rose for a third straight week as investors viewed improving economic reports as a sign that the Federal Reserve would not quickly cut interest rates. (Wed, 03 Jan 2007 04:20:00 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. (Wed, 03 Jan 2007 05:32:39 GMT)

Refinance an option for sites in foreclosure
A Wichita developer is closing in on a plan to refinance 19 local properties named in a foreclosure lawsuit. Joe Cassell, the attorney for developer Mark Nordyke, said he expects his client to refinance the properties named in a $2 million lawsuit filed in mid-November by Sunflower Bank. (Wed, 03 Jan 2007 07:03:24 GMT)

Mortgage insurance is deductible this year
More South Dakotans might move into homes starting this year as changes to the mortgage insurance industry could make mortgage loans more attractive to first-time home buyers, some mortgage industry experts said. (Wed, 03 Jan 2007 08:05:55 GMT)

Demise of Ownit Mortgage hits home
The sub-prime lender relied on Wall Street for loans. After assets were seized to cover losses, it couldn't pay its workers. Tamika Williams worked in Phoenix for a mortgage company based in Agoura Hills. But her fate was tied to Wall Street, as she found out when she lost her job a few weeks before Christmas. (Wed, 03 Jan 2007 08:18:47 GMT)

Mortgage options abound in '07
It was the year of interest-only mortgages, 40-year amortizations, and a host of other options for Calgary homebuyers. 2006 presented a smorgasbord of ways to finance a home, says Andrew Moor, president and CEO of Invis, a mortgage brokerage firm. (Wed, 03 Jan 2007 08:47:33 GMT)

U.S. Steel, Lorain National Bank hit a home run for stadium
Congratulations to U.S. Steel and Lorain National Bank for hitting a $250,000 home run for Lorain. The money will help Lorain build a first-class baseball stadium for its youngsters and, we hope, attract a minor league baseball team. (Wed, 03 Jan 2007 08:55:59 GMT)

Live Chat: Home loan expert Harsh Roongta
You've decided it's time to buy a home. Even as you zero in on likely prospects, there is another front on which you need to be fully prepared. That's right, you need to decide how you will finance your dream home. (Wed, 03 Jan 2007 08:58:22 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, 03 Jan 2007 09:00:23 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. (Wed, 03 Jan 2007 09:05:20 GMT)

BEAU NAILED IN DUAL SLAY
A two-time convicted murderer - allegedly angry over an unpaid loan - was arrested yesterday for the coldblooded execution slayings of his girlfriend and her son in their Long Island home, police said. Fernando De Campoamor, 59, allegedly became... (Wed, 03 Jan 2007 10:37:42 GMT)

Mortgage lender stops funding loans
Mortgage Lenders Network USA, a major issuer of loans to people with blemished credit histories, says it has stopped funding loans and accepting applications for new loans. (Wed, 03 Jan 2007 11:05:56 GMT)

Mortgage of the week
The Alliance & Leicester is offering a fixed rate deal until 31 January 2009, 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. (Wed, 03 Jan 2007 11:11:24 GMT)

Community Reinvestment Fund, USA Receives $5 Million Social Investment Loan from MetLife
MINNEAPOLIS----Community Reinvestment Fund, USA , a nonprofit organization that connects community development lenders with the capital resources of Wall Street, today announced MetLife provided the organization with a $5 million social investment loan. (Wed, 03 Jan 2007 12:00:00 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. (Wed, 03 Jan 2007 12:15:58 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Wed, 03 Jan 2007 12:17:09 GMT)

Mortgage Loan Application Volume Rises
(RTTNews) - The volume of mortgage loan applications rose last week, according to industry data released Wednesday. The mild advance was led by an improvement in purchase activity, though refinancing also saw an increase. (Wed, 03 Jan 2007 12:23:12 GMT)

Mortgage applications up 3.6% week to week, MBA data show
WASHINGTON (MarketWatch) -- The volume of mortgage applications at major U.S. banks rose 3.6% on a seasonally adjusted basis last week compared to the week before Christmas, the Mortgage Bankers Association reported Wednesday. (Wed, 03 Jan 2007 12:23:46 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, 03 Jan 2007 12:35:42 GMT)

Mortgage applications increase, MBA says
Despite higher interest rates, activity increases 3.6 percent after falling the previous week to lowest level since August, trade group reports. (Wed, 03 Jan 2007 12:39:45 GMT)

Dena Bank in home loan insurance pact with LIC
MUMBAI, Jan 3 (Reuters) - State-run Dena Bank on Wednesday tied up with Life Insurance Corp. of India (LIC) to launch a group mortgage insurance product for the bank's home loan borrowers, officials of the two firms said. (Wed, 03 Jan 2007 12:40:12 GMT)

National City completes sale of home-loan unit
National City Corp. said yesterday that it has completed its $1.3 billion sale of mortgage lender First Franklin and affiliates to Merrill Lynch & Co. (Wed, 03 Jan 2007 12:48:46 GMT)

U.S. home loan demand rises despite higher rates
U.S. mortgage applications rose last week, led by increased demand for home purchase loans even as interest rates climbed for a fourth consecutive week, an industry trade group said on Wednesday. (Wed, 03 Jan 2007 12:55:23 GMT)

U.S. home loan demand rises despite higher rates
NEW YORK (Reuters) - U.S. mortgage applications rose last week, led by increased demand for home purchase loans even as interest rates climbed for a fourth consecutive week, an industry trade group said on Wednesday. (Wed, 03 Jan 2007 13:11:48 GMT)

Mortgage Applications Rise, Even as Interest Rates Climb
Mortgage applications rose last week, in spite of climbing interest rates. (Wed, 03 Jan 2007 13:27:16 GMT)

Mortgage scams send home foreclosures skyrocketing
Home ownership, so often held up as a shining symbol of the American dream, is becoming a personal nightmare for the growing number of Twin-Cities families who fall victim to predatory mortgage lenders. (Wed, 03 Jan 2007 15:51:33 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, 03 Jan 2007 16:30:07 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. (Wed, 03 Jan 2007 16:30:47 GMT)

Home loan demand rises despite higher rates
U.S. mortgage applications rose last week, led by increased demand for home purchase loans even as interest rates climbed for a fourth consecutive week, an industry trade group said on Wednesday. (Wed, 03 Jan 2007 16:31:04 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, 03 Jan 2007 16:50:21 GMT)

Ohio launches mortgage broker database
Ohio home buyers can check the enforcement records of mortgage lenders in a newly launched state database. (Wed, 03 Jan 2007 17:03:06 GMT)

Buck joins regional home loan council
The chief executive of St. Patrick Center, Dan Buck, began a three-year term Jan. 1 on the Federal Home Loan Bank of Des Moines, Iowa's Affordable Housing Advisory Council (AHAC), the bank said Wednesday. (Wed, 03 Jan 2007 17:59:58 GMT)

Municipal Credit Union Employees Financial Plan Partners with Citizens Home Loan to Help Customers Find Their Way Home
CHARLOTTE, N.C.----National mortgage lender Citizens Home Loan today announced a new marketing agreement with Municipal Credit Union Employees Financial Plan . The agreement will give MCUEFP customers access to Citizens Home Loan's diverse line of mortgage solutions products. (Wed, 03 Jan 2007 18:06:00 GMT)

Is Now the Time to Refinance?
With a barrage of conflicting reports on the housing market and mortgage rates, here are some tips you can use to weigh the pros and cons of refinancing. (Wed, 03 Jan 2007 19:54:20 GMT)

Danger! Real Estate Fraud Rises in U. S.
Should I Refinance My Home To Pay Credit Card Debt? A mortgage refinance can be a good way to pay off your credit cards and lower the interest rate on your debts. But weight the pros and cons before making a decision. (Wed, 03 Jan 2007 19:55:46 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. (Wed, 03 Jan 2007 20:07:47 GMT)

Ohio launches mortgage broker database
Ohio home buyers can now check the enforcement records of mortgage lenders in a database the state launched this year. (Wed, 03 Jan 2007 20:08:27 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. (Wed, 03 Jan 2007 20:08:38 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, 03 Jan 2007 20:08:57 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Wed, 03 Jan 2007 20:43:04 GMT)

Conn Bank Regulator Looking Into Mortgage Lenders Network
NEW YORK -(Dow Jones)- The Connecticut Department of Banking has opened an inquiry into Mortgage Lenders Network USA, a sizable subprime mortgage lender that just suspended its wholesale lending business. (Wed, 03 Jan 2007 21:07:52 GMT)

BofA testing no-fee mortgage in Washington state
Bank of America Corp. is testing a no-fee mortgage in Washington state to see whether it's effective in bringing more customers to the bank. (Wed, 03 Jan 2007 21:08:25 GMT)

Blake moves to helm of Home Depot
NEW YORK (MarketWatch) -- Home Depot Inc. on Wednesday tapped Vice Chairman Frank Blake to replace Chairman and Chief Executive Robert Nardelli, but industry watchers don't expect major operations changes at the world's largest home-improvement retailer. (Wed, 03 Jan 2007 21:08:46 GMT)

KC councilwoman indicted for mortgage fraud
Kansas City Councilwoman Saundra McFadden-Weaver was indicted on seven counts of conspiracy and wire fraud for her alleged role in a mortgage fraud scheme. (Wed, 03 Jan 2007 21:11:47 GMT)

State banking officials investigate mortgage lender
State banking regulators are investigating the viability of a mortgage lender that has brokered billions of dollars in mortgages to people with poor credit histories, after it stopped funding loans and accepting new applications. (Wed, 03 Jan 2007 22:03:09 GMT)

Moody's May Cut Mortgage Lenders Network's Servicer Rating
NEW YORK -(Dow Jones)- Moody's Investors Service said Wednesday it may cut the servicer rating of Mortgage Lenders Network USA, raising concerns among mortgage-bond investors about the company's ability to recover losses on defaulted loans. (Wed, 03 Jan 2007 23:53:02 GMT)

Homeowners refinancing to fixed-rate loans
Lawrence Jones knew he was taking a chance on interest rates when he agreed to an adjustable-rate mortgage in 2002. (Thu, 04 Jan 2007 00:12:03 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. (Thu, 04 Jan 2007 00:17:41 GMT)

Conn. Mortgage Lender Investigated
State banking regulators said Wednesday they are investigating the viability of a subprime mortgage lender after it stopped funding loans and accepting new applications. (Thu, 04 Jan 2007 00:19:10 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." (Thu, 04 Jan 2007 00:19:32 GMT)

State investigating Mortgage Lenders Network
WALLINGFORD - State banking regulators stepped up an investigation into the viability of a mortgage lender that has brokered billions of dollars in mortgages to people with poor credit histories. (Thu, 04 Jan 2007 00:44:07 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, 04 Jan 2007 03:00:28 GMT)

Rate fears drive down mortgage sales, values
Australian Financial Group's (AFG) Mortgage Index for December shows new mortgages falling during the month by 30 per cent, to 5783, from 8201 in November, the second biggest month for mortgages since the index was introduced in January, 2004. (Thu, 04 Jan 2007 03:11:30 GMT)

Dena Bank, LIC to offer home loan borrowers insurance cover
Mumbai, Jan 3: Dena Bank today announced a tie-up with LIC to offer insurance cover to the bank's housing loan borrowers under the Group Mortgage Redemption Assurance (GMRA) Scheme. (Thu, 04 Jan 2007 04:07:58 GMT)

Home loans take dive: Activity drops 41 percent
Massachusetts banks have seen a 41 percent drop in home loan activity due to the recent slump in the local housing market, according to industry estimates. Kevin Cuff, executive director of the Massachusetts... (Thu, 04 Jan 2007 05:02:12 GMT)

Councilwoman charged with mortgage fraud VIDEO
A Kansas City councilwoman said Wednesday she had no plans to resign despite federal mortgage-fraud charges filed against her earlier in the day. Post a Comment (Thu, 04 Jan 2007 08:10:42 GMT)

COUNCILWOMAN CHARGED WITH MORTGAGE FRAUD
A Kansas City councilwoman said Wednesday she had no plans to resign despite federal mortgage-fraud charges filed against her earlier in the day. (Thu, 04 Jan 2007 08:10:56 GMT)

Scores of mortgage borrowers left in lurch
Potentially hundreds of Massachusetts home buyers and other mortgage borrowers are being left in the lurch after Mortgage Lenders Network USA Inc. of Connecticut reneged on funding loans it promised to make, banking and government officials said yesterday. (Thu, 04 Jan 2007 09:08:36 GMT)

Mortgage lending rise strongest in 3 years
Mortgage lending rose by its biggest amount in more than three years in November, official data showed on Thursday, and there are signs that the housing market will remain strong in the months ahead. (Thu, 04 Jan 2007 09:35:47 GMT)

Dozens facing loan charges %%head%%Home loan fraud is target Case focuses on loan fraud
Dozens of companies and individuals were indicted Wednesday in a scheme that prosecutors say used false information to get $2.85 million in home loans. (Thu, 04 Jan 2007 09:49:43 GMT)

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