Mortgage News Mar 2007

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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? (Thu, 08 Mar 2007 17:17:55 GMT)

Mortgage Rates Drop
McLEAN, Va. - Long-term mortgage rates have fallen to the lowest level so far this year. Freddie Mac says the 30-year fixed-rate mortgage is averaging 6.14 percent this week, compared with 6.18 percent last week. A year ago, the rate was 6.37 percent. (Thu, 08 Mar 2007 17:30:34 GMT)

30-Year Mortgage Fall to New 2007 Low
Rates on 30-year mortgages fell to the lowest level since mid-December as investors scrambled to the safety of bonds following last week's stock market turmoil. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged... (Thu, 08 Mar 2007 19:14:47 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? (Thu, 08 Mar 2007 19:44:37 GMT)

Bradford Mortgage expands into coastal Georgia
Bradford Mortgage Co., an independent mortgage firm based in Winston-Salem, has expanded into the coastal region of Georgia and South Carolina. (Thu, 08 Mar 2007 19:47:18 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, 08 Mar 2007 20:08:57 GMT)

Fed Warned on Foreclosures as Mortgage Growth Cools (Update2)
March 8 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke and other policy markers were warned about rising mortgage foreclosures today as the central bank reported the slowest pace of loan growth in four years. (Thu, 08 Mar 2007 21:04:32 GMT)

Fed Warned on Foreclosures as Mortgage Growth Cools (Update3)
March 8 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke and other policy markers were warned that rising mortgage foreclosures are likely to get worse, as the central bank reported the slowest pace of loan growth in four years. (Thu, 08 Mar 2007 21:21:26 GMT)

Fed Warned on Foreclosures as Mortgage Growth Cools (Correct)
(Corrects typographical error in first paragraph.) March 8 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke and other policy makers were warned that rising mortgage foreclosures are likely to get worse, as the central bank reported the slowest pace of loan growth in four years. (Thu, 08 Mar 2007 22:49:18 GMT)

New Century stops accepting loan applications
SAN FRANCISCO (MarketWatch) -- New Century Financial Corp. said late Thursday that it has stopped accepting loan applications because some of the subprime-mortgage specialist's financial backers are refusing to provide access to financing. (Thu, 08 Mar 2007 22:54:36 GMT)

Online Extra: Video: Mortgage Worries
Feb. 17 - HSBC and other financial institutions say a rise in some mortgage defaults will hurt their earnings. They blamed this in part on resetting adjustable rate loans. We look at how this could affect prospective homebuyers trying to obtain a loan, as lenders are expected to tighten up loan policies in a number of areas including requiring higher credit scores and down payments. (Fri, 09 Mar 2007 00:16:34 GMT)

Realty Q&A: No-cost refinancing will cost you somehow
WASHINGTON (MarketWatch) -- Question: I wish to refinance a property in which I have a large amount of equity. Getting refinanced is not a problem. I have a mortgage broker with whom I have worked for years. I know what my closing costs and APR will be. Completely safe, lots of trust there. (Fri, 09 Mar 2007 00:53:56 GMT)

New Century stops taking loan applications
New Century Financial Corp., whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines. (Fri, 09 Mar 2007 01:37:21 GMT)

Mortgage brokers criticize disclosure law
PROVIDENCE — Saying that most consumers do not read their mortgage documents before they sign them, mortgage brokers and others in the industry yesterday argued against new state regulations that require consumers to sign disclosure statements on “high-cost” home loans. (Fri, 09 Mar 2007 01:43:01 GMT)

FBI to warn borrowers, lenders on mortgage fraud
The Federal Bureau of Investigation, seeking to stem a rising tide of crime in home financing, said on Thursday it will warn borrowers and lenders that mortgage fraud can result in stiff fines and prison time. (Fri, 09 Mar 2007 02:16:12 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. (Fri, 09 Mar 2007 02:37:48 GMT)

Wall Street jitters send mortgage rates down
A volatile stock market is spilling into the mortgage market. In a good way. Nervous investors seeking a stable place to park their money are looking to the mortgage market, where the fresh supply of capital helped push down mortgage interest rates this week to their lowest level since December. The declines, which defied forecasts, are a bonus for spring buyers and sellers and are providing a ... (Fri, 09 Mar 2007 03:01:17 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, 09 Mar 2007 03:14:05 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." (Fri, 09 Mar 2007 03:29:29 GMT)

Fed warned of foreclosure crisis as loan growth slows
Federal Reserve Chairman Ben Bernanke and other policymakers were warned that rising mortgage foreclosures are likely to get worse, as the central bank on Thursday reported the slowest pace of loan growth in four years. (Fri, 09 Mar 2007 08:11:04 GMT)

Subprime mortgage meltdown
At its peak Maribella Mortgage had 125 employees, operations in Chicago and Milwaukee and investors eager for the subprime mortgages it bundled together at $20 million to $50 million a pop. (Fri, 09 Mar 2007 09:20:31 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, 09 Mar 2007 10:34:50 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. (Fri, 09 Mar 2007 12:01:22 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." (Fri, 09 Mar 2007 12:01:43 GMT)

Rising Subprime Mortgage Defaults Add to Unsold Homes Inventory
March 9 (Bloomberg) -- Rising mortgage defaults by subprime borrowers may add more than 500,000 homes to a residential real estate market already beset by slumping prices, according to CreditSights Inc. (Fri, 09 Mar 2007 12:35:55 GMT)

Mortgage prepayment penalty snarls refi
Dear Dr. Don, I applied and was approved for a cash-out mortgage refinancing. The loan amount was for $260,000, which I expected to be enough to pay off the balance on my existing first mortgage, a home equity line of credit, a credit card balance and the loan's closing costs. (Fri, 09 Mar 2007 12:37:58 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? (Fri, 09 Mar 2007 13:06:28 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? (Fri, 09 Mar 2007 13:51:38 GMT)

Embattled Lender New Century Stops Taking Loan Applications
New Century, which capitalized on the housing boom by offering loans to consumers with poor credit histories, has stopped taking loan applications amid rumors it may declare bankruptcy. (Fri, 09 Mar 2007 13:57:29 GMT)

General Electric's WMC Mortgage Cuts Subprime Jobs (Update1)
March 9 (Bloomberg) -- General Electric Co.'s U.S. mortgage unit will eliminate 460 jobs, or 20 percent of staff, as it curtails lending amid a rise in defaults by people with poor credit. (Fri, 09 Mar 2007 15:04:48 GMT)

New Century stops accepting loan applications
SAN FRANCISCO (MarketWatch) -- Shares of New Century Financial Corp. plunged anew Friday, pressured as the subprime-mortgage specialist's disclosed that it's stopped accepting loan applications. (Fri, 09 Mar 2007 15:09:24 GMT)

Program aims to aid families buried by their mortgages
A new state program should help low- and moderate-income homeowners who find themselves over their heads in a mortgage. Starting April 2, the Ohio Housing Finance Agency will have fixed-rate refinancing for homeowners who have mortgages they can’t afford. (Fri, 09 Mar 2007 16:06:05 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. (Fri, 09 Mar 2007 17:16:48 GMT)

New Century Stock Resumes Slide; GE Mortgage Unit Curbs Loans
March 9 (Bloomberg) -- New Century Financial Corp.'s stock, already down about 90 percent this year, fell to its lowest level since 1998 as Merrill Lynch & Co. analyst Kenneth Bruce predicted the mortgage company will go bankrupt. (Fri, 09 Mar 2007 17:49:21 GMT)

General Electric's WMC Mortgage Cuts Subprime Jobs (Update3)
March 9 (Bloomberg) -- General Electric Co.'s U.S. mortgage unit will curtail lending and fire 460 workers, or 20 percent of staff, amid a rise in defaults by people with poor credit. (Fri, 09 Mar 2007 18:34:28 GMT)

Rising Subprime Mortgage Defaults Add to Unsold Homes Inventory
Rising mortgage defaults by subprime borrowers may add more than 500,000 homes to a residential real estate market already beset by slumping prices, according to CreditSights Inc. (Fri, 09 Mar 2007 18:51:25 GMT)

Stocks rise as jobs offset mortgage woes
Stocks rose slightly on Friday after an economic report showed a resilient job market, but investors remained cautious amid growing concerns about the subprime mortgage market. (Fri, 09 Mar 2007 19:01:56 GMT)

U.S. Stocks Slip on Mortgage Concern; New Century Extends Drop
March 9 (Bloomberg) -- U.S. stocks fell after New Century Financial Corp.'s announcement that it will stop making home loans deepened concern that mortgage defaults will hurt the financial industry, overshadowing an unexpected drop in the jobless rate. (Fri, 09 Mar 2007 19:34:18 GMT)

GE's WMC Mortgage unit lays off 460: spokeswoman
General Electric Co.'s WMC Mortgage unit is laying off 460 staffers across the United States, representing about 20 percent of its work force, spokeswoman Brandie Young said on Friday. (Fri, 09 Mar 2007 20:35:33 GMT)

When Cosigning a Mortgage Goes Wrong
Q: DEAR BOB: About two years ago, I helped my daughter buy a one-bedroom condo by cosigning her mortgage. She was just out of college with a good job at an accounting firm. About 18 months ago, she quit that job because she didn't like her boss. (Fri, 09 Mar 2007 21:05:08 GMT)

Minorities paying more for home loans: study
WASHINGTON (MarketWatch) -- African-American and Latino borrowers are paying more than whites for home loans in six areas around the country, a study released Thursday showed. (Fri, 09 Mar 2007 21:09:06 GMT)

Subprime mortgage problems may spread to 'Alt-A' loans
SAN FRANCISCO (MarketWatch) - Problems in the subprime mortgage business may be spreading to other parts of the home loan market. (Fri, 09 Mar 2007 21:54:30 GMT)

Mortgage rates hold at 5.75%
Most Hawaii mortgage lenders held at 5.75 percent this week, while three of them quoted 5.625 percent. (Fri, 09 Mar 2007 22:13:47 GMT)

GE's mortgage unit slashes 20% of work force
The mortgage lender is laying off 460 staffers at its WMC Mortgage unit, a spokeswoman says. (Fri, 09 Mar 2007 22:48:59 GMT)

Subprime loan hangover
Investors are waiting to find out how just how bad their hangover will be as thousands of loans made to home buyers with spotty credit histories have begun to look dubious in the sobriety that followed the housing bubble. (Fri, 09 Mar 2007 23:04:55 GMT)

Stocks to track mortgage woes and CPI
Troubles in the subprime mortgage sector could put Wall Street on edge next week just as investors look for key economic data, including the Consumer Price Index, to shore up the market's nascent recovery after its recent plunge. (Fri, 09 Mar 2007 23:40:13 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, 10 Mar 2007 01:36:50 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. (Sat, 10 Mar 2007 02:06:28 GMT)

Do The Math When Considering A Refi
Mortgage rates just hit their lowest point of the year and a lot of people may be thinking about refinancing. The rate on a 30-year mortgage is close to 6-percent, and adjustables are even lower. (Sat, 10 Mar 2007 02:14:00 GMT)

An End to Easy Money
Even before Goodman Griffin and his girlfriend began house-hunting a month ago, they sat down with a mortgage broker and were pre-qualified for the nontraditional loan they needed to purchase the kind of home they wanted. (Sat, 10 Mar 2007 03:39:23 GMT)

Do You Have Credit Problems? 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. (Sat, 10 Mar 2007 04:31:13 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? (Sat, 10 Mar 2007 04:31:43 GMT)

Do You Have Credit Problems? 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. (Sat, 10 Mar 2007 05:23:57 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? (Sat, 10 Mar 2007 05:24:28 GMT)

Losses force lenders to tighten up on home loans
The easy flow of home loans to borrowers with spotty credit is becoming a memory, as these mortgages become far harder to come by. Growing losses on risky home mortgages have forced an abrupt about-face for lenders that make what are commonly known as subprime loans. (Sat, 10 Mar 2007 06:38:25 GMT)

Mortgages: Banks vs. Brokers - Are you Better off with a Bank or a Mortgage Broker?
Thinking of purchasing or refinancing a home? Need a second mortgage? CEO/president Salvatore Petrozzino of Worldwide Capital Mortgage Corp. offers expert home financing information and important facts about securing the most cost effective loans available. (Sat, 10 Mar 2007 07:01:00 GMT)

30-year mortgage rates fall to 6.14%
Rates on 30-year mortgages fell to the lowest level since mid-December as investors scrambled to the safety of bonds following last week's stock market turmoil. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week, down from 6.18 percent last week. The decline pushed 30-year rates down to the lowest point since they averaged 6.13 ... (Sat, 10 Mar 2007 07:12:27 GMT)

Mortgages: Banks vs. Brokers - Are you Better off with a Bank or a Mortgage Broker?
Thinking of purchasing or refinancing a home? Need a second mortgage? CEO/president Salvatore Petrozzino of Worldwide Capital Mortgage Corp. offers expert home financing information and important facts about securing the most cost effective loans available. (PRWeb Mar 10, 2007) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/UHJvZi1Mb3ZlLUxvdmUtU3VtbS1NYWduLVplcm8= (Sat, 10 Mar 2007 08:08:03 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. (Sat, 10 Mar 2007 10:34:06 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. (Sat, 10 Mar 2007 11:19:37 GMT)

Mortgage company shuts down area office
WMC Mortgage Corp., a unit of General Electric Co., is shutting down its Jacksonville office and laying off 68 employees. (Sat, 10 Mar 2007 11:31:42 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, 10 Mar 2007 11:46:13 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, 10 Mar 2007 12:50:58 GMT)

Prices drive up interest in loan program
With home prices falling and loan limits rising, a state program that finances purchases for first-time home buyers is again in favor. (Sat, 10 Mar 2007 13:54:19 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, 10 Mar 2007 16:48:35 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. (Sat, 10 Mar 2007 16:58:11 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. (Sat, 10 Mar 2007 16:58:13 GMT)

Subprime mortgage problems may spread to 'Alt-A' loans
SAN FRANCISCO (MarketWatch) - Problems in the subprime mortgage business may be spreading to other parts of the home loan market. (Sat, 10 Mar 2007 17:08:56 GMT)

Bob Bruss: Co-signing a mortgage can hamstring your borrowing power
Dear Bob: My parents, in their 60s, plan to buy a house in Arizona. It will be their principal residence. They want me to co-sign on their mortgage so if anything happens to them, I will be the heir. (Sat, 10 Mar 2007 17:32:50 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. (Sat, 10 Mar 2007 19:53:08 GMT)

Subprime mortgage problems may spread to 'Alt-A' loans
SAN FRANCISCO (MarketWatch) - Problems in the subprime mortgage business may be spreading to other parts of the home loan market. (Sat, 10 Mar 2007 22:08:56 GMT)

Which mortgage fees are proper?
DEAR BOB: Which home mortgage fees are proper for a lender to charge borrowers? I recall you said some fees are unnecessary junk or garbage fees to avoid -- Stephen O. (Sat, 10 Mar 2007 23:44:46 GMT)

'Real Housewives of Orange County' eye greener pastures
Cast members parlay their fame via a variety of new ventures. LIKE his neighbors in Coto de Caza, Slade Smiley is used to making things happen. He co-founded a title insurance company, bought a home in the planned, gated community, invited his girlfriend, Jo De La Rosa, a student and loan officer, to move in and proposed they sign up for Bravo's docu-soap "The Real Housewives of Orange County" ... (Sun, 11 Mar 2007 00:28:38 GMT)

MAIL BAG: Co-signing on parents' mortgage a bad move
Q: My parents, in their 60s, plan to buy a house in Arizona. It will be their principal residence. They want me to co-sign on their mortgage so if anything happens to them, I will be the heir. (Sun, 11 Mar 2007 00:32:46 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. (Sun, 11 Mar 2007 01:35:07 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, 11 Mar 2007 04:40:31 GMT)

Good Reasons to Refinance Now
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sun, 11 Mar 2007 04:40:41 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, 11 Mar 2007 04:42:05 GMT)

Mortgage lenders tighten standards on some loans
Mortgage lenders are tightening standards for loans to the 15 percent of potential borrowers who have the worst credit. Even with the more rigorous standards, many credit-impaired borrowers can find willing lenders — albeit at higher rates than were being quoted a month ago. (Sun, 11 Mar 2007 05:10:37 GMT)

Mortgage fraud investigations almost double
Washington- The number of mortgage fraud cases investigated by the FBI almost doubled in the past three years, reflecting a problem that is "pervasive and growing," the bureau said in its annual report on financial crimes. (Sun, 11 Mar 2007 05:17:11 GMT)

MAIL BAG: Co-signing on parents' mortgage a bad move
Q: My parents, in their 60s, plan to buy a house in Arizona. It will be their principal residence. They want me to co-sign on their mortgage so if anything happens to them, I will be the heir. (Sun, 11 Mar 2007 05:43:35 GMT)

MORTGAGES AND MORE: Subprime mortgage lenders paying dearly for relaxing underwriting standards
One thing you can say about the mortgage industry -- things change! Lenders in the "subprime" arena of mortgages have reported losses totaling in the billions because of early payment defaults and foreclosures. (Sun, 11 Mar 2007 06:09:31 GMT)

Trying to save home proves costly
Amy Birge is losing her home. It's the place she brought her babies, swaddled in blankets. It's where her three boys, now ages 4, 5 and 6, play games and paint pictures and jump on the bed and spill food on the carpet. It's where their grandpa built a big wooden fort. (Sun, 11 Mar 2007 06:41:57 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, 11 Mar 2007 07:00:58 GMT)

Report says minorities pay more for home loans
Black and Latino borrowers are paying more than whites for home loans in six areas around the country, a study released late last week showed. (Sun, 11 Mar 2007 07:01:38 GMT)

City, state programs reach out to new home buyers
West El Pasoan Veronica Silva has been saving, waiting patiently for the day she can put a down payment on a property and finally have a place she can call her own home. (Sun, 11 Mar 2007 07:23:19 GMT)

Value fund hurt by mortgage-market shakeout
Ronald H. Muhlenkamp's $2.4 billion Muhlenkamp Fund, which lost value just once in the last 12 years, is getting hurt by the shakeout in the U.S. mortgage market. (Sun, 11 Mar 2007 07:24:59 GMT)

Cry not for mortgage lenders
Glenn Puller and Cindy Ingram are on their way to federal prisons for mortgage fraud. (Sun, 11 Mar 2007 08:09:33 GMT)

Home calendar
Home and Garden Show: Stroll through 15 gardens and landscapes and discover the best ideas and trends to make your home more beautiful. 10 a.m.-6 p.m. today at Ford Field, 2000 Brush, Detroit. Adults $8; 6-14 years old $4; 5 and younger are free. Call 800-328-6550 or visit www.fordfieldhomeshow.com. (Sun, 11 Mar 2007 08:11:06 GMT)

Mortgage defaults are climbing
Kenneth Heebner, the manager of the top-performing real-estate mutual fund over the past 10 years, said the economic damage from high-risk mortgage defaults is going to get worse. (Sun, 11 Mar 2007 08:31:34 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. (Sun, 11 Mar 2007 10:19:27 GMT)

Home buyers, particularly those with limited English skills, vulnerable to deals that end in foreclosure or ruined ...
Two years ago, Luis Mapula was living in a converted garage with his wife and two daughters, earning $54,000 a year as a fence company construction worker. Then, almost like magic, he became the owner of a $543,000 home with no down payment. (Sun, 11 Mar 2007 10:26:44 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, 11 Mar 2007 11:20:48 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. (Sun, 11 Mar 2007 12:03:58 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? (Sun, 11 Mar 2007 12:04:11 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Sun, 11 Mar 2007 12:15:05 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? (Sun, 11 Mar 2007 12:33:34 GMT)

U.S. housing sales slow as mortgage debt grows
WASHINGTON-Americans continued to load up on mortgage debt last year, even though the housing market was stalling, according to Federal Reserve data released last week. (Sun, 11 Mar 2007 13:08:13 GMT)

Subprime mortgage problems may spread to 'Alt-A' loans
SAN FRANCISCO (MarketWatch) - Problems in the subprime mortgage business may be spreading to other parts of the home loan market. (Sun, 11 Mar 2007 13:08:56 GMT)

Stocks Preview: Stocks to Track Mortgage Woes and CPI
Troubles in the subprime mortgage sector could put Wall Street on edge next week just as investors look for key economic data, including the Consumer Price Index, to shore up the market's nascent recovery after its recent plunge. (Sun, 11 Mar 2007 13:27:25 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. (Sun, 11 Mar 2007 14:01:02 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, 11 Mar 2007 14:47:36 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. (Sun, 11 Mar 2007 16:10:21 GMT)

Stocks to watch bad home loans, CPI
Troubles in the subprime mortgage sector could put Wall Street on edge this week just as investors look for key economic data, including the Consumer Price Index, to shore up the market's nascent recovery after its recent plunge. (Sun, 11 Mar 2007 16:46:24 GMT)

15th Habitat for Humanity home to be built in county
Gold-painted shovels stood by an empty stretch of land where Habitat for Humanity and Grayson County’s Great Days of Service held a groundbreaking ceremony for a low-income house in Sherman on Saturday. The ceremony marked the 15th Habitat home built in Grayson County. (Sun, 11 Mar 2007 17:32:53 GMT)

AL LEWIS: Mortgage fraud sends several people to prison
AURORA - A major mortgage fraud scheme has several people going to prison. (Sun, 11 Mar 2007 18:55:32 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." (Sun, 11 Mar 2007 19:07:50 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, 11 Mar 2007 20:23:19 GMT)

Subprime's regional share of home-buying mortgages
Here's a look at estimates of subprime's clout in the home-purchase funding business in 331 major U.S. markets – including Orange County. Subprime lenders service borrowers with less-than-ideal financial profiles. (Sun, 11 Mar 2007 20:31:09 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, 11 Mar 2007 23:25:59 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? (Sun, 11 Mar 2007 23:26:18 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. (Sun, 11 Mar 2007 23:26:38 GMT)

Do You Have Credit Problems? 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, 11 Mar 2007 23:26:59 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, 11 Mar 2007 23:27:20 GMT)

Rising subprime mortgage defaults add to unsold homes inventory
Rising mortgage defaults by subprime borrowers may add more than 500,000 homes to a residential real estate market already beset by slumping prices, according to CreditSights Inc. (Mon, 12 Mar 2007 00:01:21 GMT)

Stocks to watch bad home loans, CPI
NEW YORK (Reuters) - Troubles in the subprime mortgage sector could put Wall Street on edge this week just as investors look for key economic data, including the Consumer Price Index, to shore up the market's nascent recovery after its recent plunge. (Mon, 12 Mar 2007 01:23:53 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 12 Mar 2007 02:38:48 GMT)

Take a class to help you buy a home
It's part of the American Dream - having a family and owning your own home. The harsh reality, experts say, is homeownership is remaining only a dream for many "average" Americans because of increasing housing costs. (Mon, 12 Mar 2007 03:00:12 GMT)

Australia's January Home-Loan Approvals Gain 0.3% (Update3)
March 12 (Bloomberg) -- Australia's home-loan approvals rose in January for a second month as surging employment stoked home-buyers' confidence. (Mon, 12 Mar 2007 03:53:16 GMT)

Australia's January Home-Loan Approvals Gain 0.3% (Update4)
March 12 (Bloomberg) -- Australia's home-loan approvals rose in January for a second month as surging employment stoked home-buyers' confidence. (Mon, 12 Mar 2007 05:53:16 GMT)

The return of the neglected loan
Dear Bruce: I started college 15 years ago. I graduated, found a good job and now, all these years later, it has been brought to my attention when I applied for a loan for my house that my parents... (Mon, 12 Mar 2007 06:12:35 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, 12 Mar 2007 07:06:18 GMT)

SAVE THE DATE: Reverse mortgage seminar scheduled
South Jersey Federal Credit Union will hold a free reverse mortgage seminar April 21, from 9 to 10:30 a.m., at its Deptford branch, 1615 Hurffville Road, also called Route 41. (Mon, 12 Mar 2007 07:14:59 GMT)

Sneaky Real Estate Market Trend Illustrates Need for Mortgage Resources
Homebuyers seeking clarification on how to approach days on market as a negotiating tool turn to LoanPage.com, a top online resource for homeowners offering mortgage advice, mortgage calculators and other tools, as well as state by state mortgage company listings. LoanPage.com provides solutions to homebuyers and offers advice to help better understand the real estate market and get the home they ... (Mon, 12 Mar 2007 07:15:04 GMT)

Australia's January Home-Loan Approvals Gain 0.3% (Update5)
March 12 (Bloomberg) -- Australia's home-loan approvals rose in January for a second month as surging employment stoked home- buyers' confidence. (Mon, 12 Mar 2007 07:23:16 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 12 Mar 2007 07:35:38 GMT)

Beware the mortgage trap
Steve Moore, 34, of Delaware City, doesn't know when he'll find a suitable two-bedroom house to buy south of the canal. The appliance installer has been struggling for more than a year to find a home his family can afford. (Mon, 12 Mar 2007 07:56:37 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. (Mon, 12 Mar 2007 09:33:46 GMT)

Europe stocks slip as U.S. mortgage fears outweigh M&A news
LONDON (MarketWatch) -- European stocks turned lower Monday as rising worries over the U.S. mortgage market outweighed a slew of merger and acquisition deals from the likes of Holland's Akzo Nobel and U.K. pharmacy chain Alliance Boots. (Mon, 12 Mar 2007 10:08:56 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, 12 Mar 2007 10:15:36 GMT)

LOAN RANGERS
The mayhem in the mortgage market could spell trouble for the Internet ad space, where players big and small have profited from the once booming business. As more customers shop online for home loans, direct lenders, conventional banks and lead... (Mon, 12 Mar 2007 10:32:00 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. (Mon, 12 Mar 2007 10:39:14 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? (Mon, 12 Mar 2007 10:54:55 GMT)

2nd Time Around for New Century - Mortgage Industry Insider from MortgageDaily.com
New Century Financial Corp. survived the subprime crisis of 1998 even as companies like Conti Mortgage, Industry Mortgage Co. and FirstPlus Financial collapsed, according to http://www.MortgageDaily.com -- the dominant source of online news for the mortgage industry. (Mon, 12 Mar 2007 11:00:00 GMT)

Sponsored Links
Find the Right Loan for Your Needs. No Lender Fees. Bad Credit OK. Free Pre-Qual for Mortgage Loans & Refinance. Every city in the USA! Homeowner In Debt? Need Cash Now? Call Full Spectrum®. (Mon, 12 Mar 2007 11:30:52 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, 12 Mar 2007 11:50:38 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, 12 Mar 2007 11:51:48 GMT)

Creative Mortgage Lending One of Few Lenders to Offer Stated Income Loan Product
SOUTHFIELD, Mich.----Creative Mortgage Lending , a wholesale lender specializing in Alt-A and nonprime lending, announced that they are one of the few wholesale lenders that currently offers stated fixed income loans up to 100 percent to borrowers with credit scores of 660. (Mon, 12 Mar 2007 12:00:00 GMT)

New Century Gets Default Claims, Says It Lacks Cash (Update1)
March 12 (Bloomberg) -- New Century Financial Corp., the U.S. mortgage company whose stock plunged 90 percent this year, said lenders claim it's in default and are demanding accelerated payments. The company said it lacks cash to meet those demands. (Mon, 12 Mar 2007 12:06:05 GMT)

What home equity debt is
A home equity loan or line of credit allows you to borrow money, using your home's equity as collateral. (Mon, 12 Mar 2007 12:39:21 GMT)

Ace Mortgage Funding Selects Lender Support Systems, Inc.'s Servicer3D
POWAY, Calif.----Lender Support Systems, Inc. , a global provider of eMortgage enabled lending and loan servicing technology solutions, announced that Ace Mortgage Funding, LLC, an Indianapolis, Ind.-based independent mortgage banker that provides wholesale and retail lending, has selected LSSI's recently released Servicer3D software for servicing their mortgage loans. (Mon, 12 Mar 2007 13:00:00 GMT)

Golden Eagle's CEO Discusses Company's $1 Million Gold Production Loan Commitment on Conference Call and Webcast
SALT LAKE CITY----Golden Eagle International, Inc. announced today that a recording of its Conference Call and simultaneous Webcast from Thursday, March 8, 2007, discussing the Company's future plans and announcing a $1 million gold production loan commitment are now available on Golden Eagle's home page at www.geii.com . (Mon, 12 Mar 2007 13:00:00 GMT)

Cash Flow Campus and Loan opens in Ada
ADA — Cash Flow Campus & Loan is a “term” loan company whose motto is “We offer you more than just money,” according to Lynn Williams, IT director of the company. (Mon, 12 Mar 2007 13:47:23 GMT)

U.S. Stocks Drop as New Century Spurs Subprime-Mortgage Concern
March 12 (Bloomberg) -- U.S. stocks dropped on concern rising mortgage delinquencies among the riskiest borrowers foreshadow lower profits for financial companies. (Mon, 12 Mar 2007 14:04:38 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 12 Mar 2007 15:04:26 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, 12 Mar 2007 15:12:56 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. (Mon, 12 Mar 2007 15:13:15 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, 12 Mar 2007 15:44:03 GMT)

Sector Snap: Subprime Mortgage
Shares of mortgage lenders that loan money to people with bad credit dropped sharply Monday as New Century Financial Corp. said its creditors have cut off funding, leaving the embattled bank appearing poised on the brink of bankruptcy. (Mon, 12 Mar 2007 16:39:28 GMT)

Good Reasons to Refinance Now
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Mon, 12 Mar 2007 16:43:03 GMT)

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