Mortgage News Jan 2008
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U.K. December Mortgage Approvals Fall to Decade-Low (Update3)
Jan. 24 (Bloomberg) -- U.K. mortgage approvals dropped an annual 38 percent to the lowest in at least a decade in December as banks curbed lending and higher interest rates discouraged buyers, the British Bankers' Association said. (Thu, 24 Jan 2008 13:18:24 GMT)
Mortgage rates fall to four-year low
Mortgage rates fell to a four-year low Wednesday, a day after the Federal Reserve cited a weakening economy in its emergency reduction of its benchmark interest rate. (Thu, 24 Jan 2008 13:46:24 GMT)
Contact us | Thinking of refinancing?
Attention homeowners: Mortgage rates have fallen this week. Are you refinancing or thinking about it? Staff writer Amy Baldwin wants to talk to you. Reach her at 704-358-5179 or abaldwin@charlotteobserver.com . Please leave your name and daytime phone number. (Thu, 24 Jan 2008 14:04:46 GMT)
Why Now is a Good Time to Refinance Your ARM Loan
(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. (Thu, 24 Jan 2008 14:20:07 GMT)
Wachovia Names Mortgage Credit President
Wachovia Corp. named David Pope president of mortgage and retail credit, the bank said Thursday. Pope, who has worked at Wachovia for 20 years, has been chief operating officer of the division for seven months. (Thu, 24 Jan 2008 14:32:59 GMT)
Pompey poised to seal Baros loan
Portsmouth boss Harry Redknapp has confirmed he is set to sign former Liverpool and Aston Villa striker Milan Baros on loan from Lyon.And although the Czech Republic ace, who cannot get into the Lyon team, is unlikely to be cleared in time for Saturday's fourth round FA Cup tie at home to Plymouth, he should be available for next Wednesday's trip to Premier League leaders Manchester United. (Thu, 24 Jan 2008 15:45:05 GMT)
Mortgage rates show decreases
Fixed-rate U.S. mortgages fell to a four-year low this week, the Freddie Mac Mortgage Market Survey said Thursday. (Thu, 24 Jan 2008 16:18:57 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? (Thu, 24 Jan 2008 16:32:27 GMT)
Fixed mortgage rates fall to lowest since '04
Mortgage rates continued to fall this week, with 30-year and 15-year fixed-rate mortgages hitting their lowest levels in nearly four years, Freddie Mac reported Thursday. (Thu, 24 Jan 2008 16:38:42 GMT)
Mortgage Rates Near Four-Year Low
The average rate on a 30-year fixed rate mortgage falls to 5.48%. (Thu, 24 Jan 2008 18:09:00 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Thu, 24 Jan 2008 20:41:31 GMT)
New Mortgage Refinancing Boom Under Way
This week's surprise rate cut by the Federal Reserve not only held Wall Street and investors in thrall, it's also kicked into high gear a rush by homeowners across the country to refinance their mortgages at today's lower rates. (Thu, 24 Jan 2008 21:54:04 GMT)
Home Mortgage Mayhem Seeps Into Office Sector
The mortgage meltdown is hitting both homes and workplaces now. (Thu, 24 Jan 2008 22:44:11 GMT)
Homeowners rushing to refinance mortgages
This week's surprise rate cut by the Federal Reserve kicked into high gear a rush by homeowners across the country to refinance their mortgages at today's lower rates. (Thu, 24 Jan 2008 22:47:34 GMT)
Mortgage industry cheers stimulus proposal
An increase in conforming loan limits could help liquidity in the mortgage markets and bring borrowers lower-cost loans. (Thu, 24 Jan 2008 23:43:39 GMT)
Home Depot drops effort to buy industrial loan company
Home Depot Inc. threw in the towel Thursday on its bid to enter the lending business by taking over an industrial loan company. The Atlanta-based retailer has been trying since May 2006 to get government approval to purchase EnerBank USA, a Salt Lake City company offering home improvement loans. But its application has been held up amid intense political wrangling over the question of whether a ... (Thu, 24 Jan 2008 23:57:56 GMT)
Low Interest Rates Spur Mortgage Refinancing
Homes sales may get a boost when the fed's recent interest rate drop translates into mortgage rates. The cut will make it easier for many people to get into a new home and will also enable people to refinance to avoid future hardship. Reporter Melissa Duran has mortgage tips. (Thu, 24 Jan 2008 23:59:47 GMT)
Analysts predict wave of home refinancing
The economic stimulus plan agreed on Thursday could unleash a wave of mortgage refinancing that would amplify the effect of the Federal Reserve's 75 basis-point interest rate cut this week, according to analysts. (Fri, 25 Jan 2008 00:55:14 GMT)
Banks See Spike In Refinancing Applications
Refinancing applications have surged 17 percent after interest rates dropped three-quarters of a point in the past week -- and they could go lower. (Fri, 25 Jan 2008 01:16:01 GMT)
When A Mortgage Turns Upside Down
What happens to the mortgage on your home when the housing market slumps and the interest rate fluctuates? It can go "upside-down." Cynthia Bowers explains in the latest in the series "Hitting Home." (Fri, 25 Jan 2008 02:00:01 GMT)
Home Depot Drops Plan to Buy Bank
The Home Depot Inc. has withdrawn an application to by a Utah bank, saying that the loan business no longer fits into its strategy of concentrating on its retail trade. (Fri, 25 Jan 2008 02:34:11 GMT)
Mortgage-limit proposal: an example for our readers
Stanley Tseng, president of the Silicon Valley chapter of the California Mortgage Brokers Association, said the savings for Bay Area home buyers is significant, almost $5,000 a year. (Fri, 25 Jan 2008 03:16:21 GMT)
Bank shuts mortgage lending unit
The housing slowdown has claimed another victim in Scottsdale's 1st National Bank of Arizona, which is closing its retail mortgage lending activities and laying off 35 people in Arizona. (Fri, 25 Jan 2008 03:39:18 GMT)
In Mortgage Equation, Tax Deductions Count for a Lot
Third in a series of columns "I'm living so far beyond my income that we may almost be said to be living apart." -- E.E. Cummings The tax-deductibility of mortgage interest is one of the big benefits of homeownership, and it can affect your financial decisions. Take, for example, your choice of a... (Fri, 25 Jan 2008 03:39:21 GMT)
Home Depot drops plan to buy EnerBank; cites retail focus
The Home Depot has withdrawn an application to by a Utah bank, saying that the loan business no longer fits into its strategy of concentrating on its retail trade. read more (Fri, 25 Jan 2008 04:20:50 GMT)
Lower interest rates tempt Dallas homeowners to refinance
The lower interest rates that have come in the wake of the subprime mortgage mess are creating a miniboom in mortgage refinancings. (Fri, 25 Jan 2008 04:42:34 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, 25 Jan 2008 05:10:54 GMT)
How low will N.J. mortgage rates go?
The phones in Autumn Urling's mortgage brokerage began ringing as soon as the Federal Reserve slashed its benchmark lending rate earlier this week. And they haven't stopped ringing as mortgage rates dipped yesterday to their lowest levels in four years. (Fri, 25 Jan 2008 06:01:59 GMT)
Accused in mortgage scam get another chance to plead case
Several people who were indicted in a recent mortgage fraud investigation will get a chance to persuade a different grand jury today to not indict them. (Fri, 25 Jan 2008 06:53:33 GMT)
Inland homeowners ponder refinance timing
Mortgage holders wanting to trade an unwieldy adjustable-rate mortgage for the certainty of a fixed rate are rushing to refinance in large numbers since the Federal Reserve's surprise rate cut earlier this week. (Fri, 25 Jan 2008 08:04:02 GMT)
Rush to refinance homes speeds up as Fed cuts rate, mortgages near record low
NEW YORK — This week's surprise rate cut by the Federal Reserve not only held Wall Street and investors in thrall, it has also sped up a rush by homeowners across the country to refinance their mortgages at today's lower rates. (Fri, 25 Jan 2008 08:20:06 GMT)
Heat stays on mortgage firms
The mortgage industry just experienced one of its most turbulent years and 2008 is shaping up to be another, despite efforts to staunch the flow of defaults and foreclosures. (Fri, 25 Jan 2008 08:29:02 GMT)
Stimulus plan also sparks housing market
The economic stimulus plan announced Thursday by Congress and the Bush administration includes provisions that specifically address the mortgage crisis. It aims to make getting a mortgage easier and cheaper in high-cost markets, to facilitate refinancing and to prevent foreclosures. (Fri, 25 Jan 2008 09:00:01 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, 25 Jan 2008 10:29:12 GMT)
Home Depot Drops Plan to Purchase CMS Energy-Owned Bank
The Home Depot Inc. has withdrawn an application to buy a Utah bank, saying the loan business no longer fits into its strategy of concentrating on its retail trade. (Fri, 25 Jan 2008 10:37:37 GMT)
Economic stimulus: Mortgage change could help Californians buy, sell, refinance
The economic stimulus package introduced Thursday included a provision long sought by California housing leaders that would benefit home buyers and homeowners across the state, but especially in the Bay Area, where residents must contend with some of the highest prices in the country. (Fri, 25 Jan 2008 11:20:37 GMT)
Economic stimulus: How mortgage change could help Bay Area buyers
How Bay Area home buyers could benefit Stanley Tseng, president of the Silicon Valley chapter of the California Mortgage Brokers Association, said the savings for Bay Area home buyers under proposed conforming-loan limit changes are significant, almost $5,000 a year. (Fri, 25 Jan 2008 11:21:07 GMT)
Anworth Mortgage Asset Corporation Announces Pricing of Public Offering of Common Stock
Anworth Mortgage Asset Corporation (NYSE:ANH) announced today that it has set the price for the underwritten public offering of 14,300,000 shares of its common stock at $8.75 per share for gross proceeds of $125.1 million. This amount represents an increase of 3,300,000 shares from the 11,000,000 shares previously announced. Anworth has granted the underwriters a 30-day option to purchase up to ... (Fri, 25 Jan 2008 12:27:46 GMT)
Home Depot drops plan to buy bank owned by Mich.-based CMS Energy
ATLANTA -- The Home Depot Inc. has withdrawn an application to buy a Utah bank, saying the loan business no longer fits into its strategy of concentrating on its retail trade. (Fri, 25 Jan 2008 13:15:09 GMT)
Report: Home Depot no longer pursuing EnerBank
The Home Depot Inc. has backed off plans to get an industrial loan charter so it can buy EnerBank USA, according to a report from the Associated Press late Thursday. (HD) (Fri, 25 Jan 2008 14:06:45 GMT)
Stimulus plan also sparks housing market
The economic stimulus plan announced Thursday by Congress and the Bush administration includes provisions that specifically address the mortgage crisis. It aims to make getting a mortgage easier and cheaper in high-cost markets, to facilitate refinancing and to prevent foreclosures. (Fri, 25 Jan 2008 15:30:01 GMT)
Federal Home Loan Bank contributing $17M to affordable housing
Federal Home Loan Bank of Cincinnati's latest round of affordable-housing project grants and awards includes nearly $1 million for Central Ohio initiatives. (Fri, 25 Jan 2008 15:45:22 GMT)
Bank helps Habitat home purchaser get grant
HAMLIN TOWNSHIP — Erin Whitaker is thankful for her home at 6516 W. Beech St. Mason County Habitat for Humanity made it possible, along with West Shore Bank and a $5,000 grant from Federal Home Loan Bank program. (Fri, 25 Jan 2008 17:16:04 GMT)
Now May be the Time to Refinance
CAMDEN, Del. - According to local mortgage consultants, mortgage interest rates have hit a five year low. And experts say now may be a good time to refinance. (Fri, 25 Jan 2008 18:19:23 GMT)
New Stimulus Plan Offers Jumbo Mortgage Help to Homeowners
New York--The proposed U.S. economic stimulus plan announced Thursday will prevent foreclosures and make refinancing easier for mortgage seekers in high-cost markets, CNNMoney.com reports. (Fri, 25 Jan 2008 19:20:18 GMT)
Federal Home Loan Bank of S.F. to hold foreclosure-prevention workshop
The Federal Home Loan Bank of San Francisco will host a Homeowner's Foreclosure Prevention Workshop in Las Vegas this weekend that will bring together several foreclosure-prevention counseling organizations. (Fri, 25 Jan 2008 19:21:50 GMT)
Lender Offers Tips for Those Looking to Refinance
The Federal Reserve's decision to cut a key interest rate this week prompted a burst of activity in the mortgage market, as homeowners tried to figure out whether to refinance. Russell Rothstein, the director of mortgage lending for Beacon Mortgage in Rockville, Md., offers advice. (Fri, 25 Jan 2008 21:47:03 GMT)
Correction: New Mortgage Story
In a Jan. 24 story about mortgage refinancings, The Associated Press erroneously reported that there are 7 million mortgages available for refinancing in the U.S. (Fri, 25 Jan 2008 22:00:50 GMT)
Homeowners scurrying to refinance
Paige O'Mahoney spent the past several months watching interest rates as she considered whether to refinance her mortgage to save money. (Fri, 25 Jan 2008 22:28:40 GMT)
NY Fed Issues Subprime Mortgage Figures
The subprime mortgage meltdown is taking a toll in New York, with New York City and Long Island feeling the brunt, according to data released Friday. (Fri, 25 Jan 2008 22:48:20 GMT)
Mortgage rates ease
Borrowing costs declined on Friday as major Canadian banks cut their mortgage rates on several longer-term loans. (Fri, 25 Jan 2008 23:00:51 GMT)
Rush to Refinance—Can You Beat the Game?
Rochester, N.Y. - Local mortgage brokers have been busy this week with homeowners rushing to refinance their mortgages at lower rates. (Fri, 25 Jan 2008 23:36:15 GMT)
House Of Cards: The Mortgage Mess
Correspondent Steve Kroft reports on how the U.S. subprime mortgage meltdown, in which risky loans drove a housing boom that went bust, is now roiling capital markets worldwide. (Sat, 26 Jan 2008 00:00:04 GMT)
Mortgage rates lowest since 2004
GRAND JUNCTION (KJCT)- Mortgage rates are at their lowest since 2004, making this week the fourth week of consistently lower mortgage rates. It's a good time for Grand Valley residents looking to buy a home or refinance their mortgage. (Sat, 26 Jan 2008 00:37:32 GMT)
Hawaii banks lower mortgage rates
Mortgage rates at Hawaii's three largest banks dipped below 5 percent this week to the lowest rates since mid 2003. (Sat, 26 Jan 2008 01:09:22 GMT)
Home loan component of stimulus plan could be shortlived
A provision in the new economic stimulus package that would make it cheaper and easier to buy or refinance a home - a boon in the pricey Bay Area - might be terminated almost as soon as it begins. (Sat, 26 Jan 2008 01:25:35 GMT)
Fed’s finger in the dike on mortgage rates
Some say the lowest mortgage rates in four years could help stabilize the housing market. But others aren't so sure. (Sat, 26 Jan 2008 02:54:47 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? (Sat, 26 Jan 2008 03:13:34 GMT)
Stimulus plan may lead to higher mortgage rates
NEW YORK (Reuters) - A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan. (Sat, 26 Jan 2008 03:35:11 GMT)
For Every Loan, a Proper Use
David Stevens has seen it countless times: Homeowners who want to finance a major renovation, pay down their credit card debt or take a once-in-a-lifetime vacation come into their mortgage lender's office and announce that they would like to apply for a home-equity loan. (Sat, 26 Jan 2008 04:30:56 GMT)
For Every Loan, a Proper Use
David Stevens has seen it countless times: Homeowners who want to finance a major renovation, pay down their credit card debt or take a once-in-a-lifetime vacation come into their mortgage lender's office and announce that they would like to apply for a home-equity loan. (Sat, 26 Jan 2008 04:32:16 GMT)
For Every Loan, a Proper Use
David Stevens has seen it countless times: Homeowners who want to finance a major renovation, pay down their credit card debt or take a once-in-a-lifetime vacation come into their mortgage lender's office and announce that they would like to apply for a home-equity loan. (Sat, 26 Jan 2008 05:05:31 GMT)
Verona man gets 37 months in prison for mortgage scheme
A Verona man was sentenced yesterday to 37 months in federal prison for defrauding several lenders in a mortgage scheme. ... (Sat, 26 Jan 2008 05:52:06 GMT)
Rate cuts spur refinancing rush
One of Matt DeFendi's relatives recently suggested he keep an eye on falling mortgage rates. (Sat, 26 Jan 2008 06:05:33 GMT)
Suit targets loan registry
You might expect national home-loan giants Wells Fargo or Countrywide to top the list. But it is a mysterious company called MERS that routinely pops up in county property records around the Twin Cities as the owner of failing mortgage loans. (Sat, 26 Jan 2008 06:17:38 GMT)
29 reindicted in mortgage probe
A Harris County grand jury on Friday reindicted 29 of 30 people who were improperly indicted in December in a recent mortgage fraud investigation, prosecutors said. (Sat, 26 Jan 2008 06:35:13 GMT)
Home Depot drops plan to buy Utah's EnerBank
The Home Depot Inc. has withdrawn an application to buy a Utah bank, saying that the loan business no longer fits into its strategy of concentrating on its retail trade. (Sat, 26 Jan 2008 07:41:07 GMT)
Will mortgage lender's earnings affect takeover?
Investor concerns that Bank of America Corp. might try to pull out or pay less for Countrywide Financial Corp. could intensify next week when the troubled mortgage lender reports 2007 year-end financial results. After posting a $1.2 billion loss in the third quarter ended Sept. 30 -- its first quarterly loss in 25 years -- Countrywide declared it would post a profit for 2007's final three months ... (Sat, 26 Jan 2008 08:15:43 GMT)
Mortgage giant's sale may collapse
A 4Q loss could doom Countrywide deal Investor concerns that Bank of America Corp. might try to pull out or pay less for Countrywide Financial Corp. could intensify next week when the troubled mortgage lender reports 2007 year-end financial results. (Sat, 26 Jan 2008 08:56:49 GMT)
Hard times for mortgage brokers
It's hard to pity mortgage brokers, a group that made buckets of money off the housing and refinancing booms earlier this decade. (Sat, 26 Jan 2008 09:46:13 GMT)
Interest-rate drop spurs frenzy of refinancing calls
Homeowners deluged mortgage brokers with calls this past week, hoping to take advantage of sharply lower interest rates. (Sat, 26 Jan 2008 10:09:10 GMT)
Refinancings surge as mortgage rates slide downward
In the wake of this week's sharp rate cut by the Federal Reserve Board, mortgage interest rates dipped to their lowest level in at least four years - perhaps presenting a strong opportunity for people who have been waiting to refinance adjustable-rate mortgages or those who have been waiting to buy. (Sat, 26 Jan 2008 10:31:55 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? (Sat, 26 Jan 2008 10:43:54 GMT)
Plan's on borrowed time Home loan piece of stimulus may be shortlived
A provision in the new economic stimulus package that would make it cheaper and easier to buy or refinance a home — a boon in the pricey Bay Area — might be terminated almost as soon as it begins. (Sat, 26 Jan 2008 11:00:56 GMT)
Lower Rates, Coming Resets: An Opening For Refinancing
Is it a refi renaissance? Or a fast-closing window of opportunity? (Sat, 26 Jan 2008 15:17:32 GMT)
City, State Expand Lawsuit Against Mortgage Firm
The city and state have expanded a lawsuit against mortgage firm Countrywide Financial Corporation. (Sat, 26 Jan 2008 15:33:04 GMT)
United Acquires Argentine Niell On a 1-Year Loan
D.C. United has acquired 5-foot-4, 145-pound forward Franco Niell, 24, on a one-year loan from Argentinos Juniors, a first-division club in Buenos Aires. (Sat, 26 Jan 2008 17:54:58 GMT)
New Stimulus Plan Offers Jumbo Mortgage Help
New York--The proposed U.S. economic stimulus plan announced Thursday will prevent foreclosures and make refinancing easier for mortgage seekers in high-cost markets, CNNMoney.com reports. (Sat, 26 Jan 2008 18:05:18 GMT)
W. Pa. mortgage broker sentenced in scam
PITTSBURGH (AP) - A suburban Pittsburgh mortgage broker who prosecutors say cost lenders between $400,000 and $1 million was sentenced to more than three years in federal prison. (Sat, 26 Jan 2008 18:24:35 GMT)
Mortgage repayments missed by 463,000
Almost half a million cash-strapped homeowners have missed a monthly repayment on their mortgage in the past six months, according to research from MoneyExpert.com. (Sun, 27 Jan 2008 01:01:12 GMT)
Mortgage Workshop
Valley homeowners in danger of foreclosure because of adjustable mortgage rates got a second chance to avoid losing their homes. (Sun, 27 Jan 2008 01:19:28 GMT)
Mortgage analysis firm to cooperate in NY subprime probe
Mortgage loan analysis company Clayton Holdings Inc. will detail how Wall Street firms sometimes shelved their damaging loan reports under an agreement reached with the New York State attorney general. (Sun, 27 Jan 2008 02:34:26 GMT)
Mortgage analysis firm to cooperate in NY probe
Mortgage loan analysis company Clayton Holdings Inc , in an agreement with New York's attorney general, said on Saturday it would detail how Wall Street firms disregarded its warnings about the quality of home loans later sold to investors. (Sun, 27 Jan 2008 03:43:14 GMT)
FOX 11 Investigates: Mortgage Scheme (2nd Update)
Just like the housing crisis, the case against a man accused in a real estate fraud keeps getting bigger. Now, we have an update to a FOX 11 Investigation on a mortgage scheme. John Schwada reports. (Sun, 27 Jan 2008 03:45:39 GMT)
Mortgage analysis firm to cooperate in NY subprime probe
By Patrick Rucker WASHINGTON (Reuters) - Mortgage loan analysis company Clayton Holdings Inc. (CLAY.O) will detail how Wall Street firms sometimes shelved their damaging loan reports... (Sun, 27 Jan 2008 04:13:31 GMT)
Mortgage analysis firm to cooperate in NY probe
By Patrick Rucker WASHINGTON (Reuters) - Mortgage loan analysis company Clayton Holdings Inc (CLAY.O), in an agreement with New York's attorney general, said on Saturday it would detail... (Sun, 27 Jan 2008 04:13:41 GMT)
Many Metro Homeowners Try to Cope Amid Mortgage Crisis
ATLANTA (FOX 5) – Thousands of homeowners in Metro Atlanta are trying to stay afloat amid a crippling mortgage crisis. Many homeowners are facing the imminent threat of foreclosure and housing analysts said Georgia rates of foreclosure are among the top five states in the nation. (Sun, 27 Jan 2008 04:22:11 GMT)
Is A Reverse Mortgage Right For You?
Reverse mortgage loans are not for everyone. Dale Buckner, a local certified financial planner at Asset Planning offers some additional information to help you decide if it's right for you. (Sun, 27 Jan 2008 05:05:04 GMT)
Lenders cold to the idea of forgiving mortgage debt
A mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn’t gained traction. Jeff Lazerson, founder and president of the online brokerage Mortgage Grader, believes that some foreclosures could be prevented if delinquent borrowers could refinance their loans, but with some of the debt forgiven. (Sun, 27 Jan 2008 05:48:07 GMT)
New tax breaks help homeowners struggling with mortgage payments
WASHINGTON - In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible. (Sun, 27 Jan 2008 06:03:19 GMT)
Housing woes send borrowers, lenders back to safety of mortgage insurance
Mortgage insurance, which fell out of favor during the days of 100 percent financing and combo loans, is making a comeback. (Sun, 27 Jan 2008 06:38:24 GMT)
Mortgage brokers get surge of calls
Three days after the Federal Reserve unveiled a surprise three-quarter-point rate cut aimed at jump-starting the economy, Lerone Joyner was sitting across from a loan officer at Synergy Direct Mortgage, reviewing the papers to refinance the mortgage... (Sun, 27 Jan 2008 08:59:07 GMT)
Fed's rate cuts ignite a rush to refinance
A positive note in the chorus of bad economic news sounds loudly, like a call to arms. Or, as happened after the Federal Reserve dropped short-term interest rates three-quarters of a percentage point Tuesday, a race to refinance. (Sun, 27 Jan 2008 09:03:00 GMT)
Home loan analyst to aid bank inquiry
A company that analyzed the quality of thousands of home loans for investment banks has agreed to provide evidence to New York state prosecutors that the banks had detailed information about the risks posed by subprime mortgages — information that prosecutors believe was not disclosed to investors. (Sun, 27 Jan 2008 09:55:05 GMT)
Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 27 Jan 2008 10:06:53 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, 27 Jan 2008 10:14:22 GMT)
Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Sun, 27 Jan 2008 10:29:12 GMT)
Fed's rate cuts ignite a rush to refinance
A positive note in the chorus of bad economic news sounds loudly, like a call to arms. Or, as happened after the Federal Reserve dropped short-term interest rates three-quarters of a percentage point Tuesday, a race to refinance. (Sun, 27 Jan 2008 10:42:35 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 27 Jan 2008 10:43:51 GMT)
Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Sun, 27 Jan 2008 10:44:11 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, 27 Jan 2008 11:28:41 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, 27 Jan 2008 11:41:25 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? (Sun, 27 Jan 2008 12:26:34 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? (Sun, 27 Jan 2008 14:10:55 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 27 Jan 2008 15:26:04 GMT)
Jumbo mortgage changes are coming
The economic stimulus plan worked out Thursday in Washington would provide nearly a year of cheaper loans for Californians buying or refinancing higher-cost homes, and the news elicited jubilation in the housing and mortgage industries. (Sun, 27 Jan 2008 15:37:23 GMT)
US mortgage crisis creates ghost town
The streets are empty. Trash rustles down the road past rusted barbecues, abandoned furniture, sagging homes and gardens turned to weed. (Sun, 27 Jan 2008 18:31:07 GMT)
Library group plans mortgage workshop
Friends of the Big Bear Library isn’t all about books. The group hosts a workshop on reverse mortgages on Saturday, Jan. 26. The workshop is free. Donna Ward presents the information that will help attendees understand the benefits available through a reverse mortgage. (Sun, 27 Jan 2008 18:38:28 GMT)
Why Now is a Good Time to Refinance Your ARM Loan
(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, 27 Jan 2008 18:43:31 GMT)
New Zealand Home Affordability Little Changed From Record Low
Jan. 26 (Bloomberg) -- New Zealand home affordability was little changed in December from a record low a month earlier as the cost of loans rose, adding to signs that borrowing rates are curbing economic growth. (Sun, 27 Jan 2008 19:01:38 GMT)
Reverse mortgage loan on joint family property
I had approached State Bank of India, Shoranur branch, Palghat District, Kerala, for a reverse mortgage loan on a property bequeathed on me by my late father now standing in my name on which I pay property tax. The property is in my possession. ... (Sun, 27 Jan 2008 19:21:20 GMT)
Even with tough mortgage laws, NC faces more foreclosures
RALEIGH, N.C. (AP) - North Carolina's tough mortgage laws have helped the state weather the foreclosure crisis better than most. But even with additional laws enacted to curb what critics call mortgage industry abuses, the state may see even more foreclosures. (Sun, 27 Jan 2008 19:58:24 GMT)
Subprime loan crisis sparking action from Olympia
Tony Brooks blames a mortgage broker for the loss of his home, and wanted state lawmakers to know his story. (Sun, 27 Jan 2008 20:07:53 GMT)
Despite Tough State Mortgage Laws, Foreclosures Loom
North Carolina's tough mortgage laws, enacted almost a decade ago, have helped the state weather the foreclosure crisis better than most. (Sun, 27 Jan 2008 20:08:59 GMT)
Price falls no help to home loan affordability
House prices may be falling and wages improving, but higher interest rates kept New Zealand home loan affordability near its worst levels ever in December, according to the monthly Fairfax Media Home Loan Affordability report. Affordability for first ... (Sun, 27 Jan 2008 20:24:39 GMT)
Even With Tough Mortgage Laws, NC Faces More Foreclosures
North Carolina 's tough mortgage laws have helped the state weather the foreclosure crisis better than most. But even with additional laws enacted to curb what critics call mortgage industry abuses, the state may see even more foreclosures. (Sun, 27 Jan 2008 20:53:47 GMT)
Mortgage group mulls federal loan program changes
A wave of foreclosures could be prevented if the largest federal home-ownership program were open to more delinquent borrowers, according to a study being mulled by the nation's largest mortgage investor group. (Sun, 27 Jan 2008 22:40:10 GMT)
African-Americans badly treated in mortgage crisis
African-Americans snared in the U.S mortgage crisis have seen the American dream turn into a nightmare. (Mon, 28 Jan 2008 00:36:06 GMT)
Even With Tough Mortgage Laws, NC Faces More Foreclosures
North Carolina's tough mortgage laws have helped the state weather the foreclosure crisis better than most. (Mon, 28 Jan 2008 00:58:32 GMT)
New Bill Would Protect Against Mortgage Fraud
HONOLULU (KHNL) -- Home mortgages are risky these days. Now, in addition to the public's concern for a deepening mortgage crisis, is a new problem: scam artists looking to prey on vulnerable homeowners. (Mon, 28 Jan 2008 00:59:56 GMT)
Loan Adviser to Assist Bank Probe
A company that advises Wall Street bankers who packaged and sold risky mortgages has agreed to cooperate with New York state investigators, advancing a months-long probe of the subprime home loan debacle. (Mon, 28 Jan 2008 02:50:10 GMT)
Renters get caught in mortgage crunch
Michelle Johnson never expected to lose her home in the subprime mortgage mess. After all, she rents. (Mon, 28 Jan 2008 04:39:06 GMT)
Taken a home loan? Must insure it
This will ensure that should a critical illness (such as stroke, organ failure, heart ailment, etc.) strike you affecting your earning capability than you at least dont have to bother about your home loan liability, says personal finance expert Harsh Roongta. (Mon, 28 Jan 2008 05:38:29 GMT)
Loan Adviser to Assist Bank Probe
A company that advises Wall Street bankers who packaged and sold risky mortgages has agreed to cooperate with New York state investigators, advancing a months-long probe of the subprime home loan debacle. (Mon, 28 Jan 2008 06:25:52 GMT)
Lower rates spur rush to refinance mortgages
Last week's surprise rate cut by the Federal Reserve kicked into high gear a rush by homeowners across the country to refinance their mortgages at today's lower rates. (Mon, 28 Jan 2008 06:52:53 GMT)
Experts: Dropping mortgage rates not always reason to refinance
With mortgage rates dropping lower than they have since 2004, home financing applications have increased by more than 16 percent in recent weeks, but lower rates shouldn't necessarily mean refinancing for everyone. (Mon, 28 Jan 2008 08:29:10 GMT)
Does it make sense to refi?
Refinancing a mortgage is currently the most pressing topic for many homeowners. Senior reporter Holden Lewis, who covers mortgages and writes the Mortgage Matters blog, answers the most common questions from readers. (Mon, 28 Jan 2008 11:00:00 GMT)
Nassau lawyers may offer free help in mortgage crisis
The Nassau County Bar Association is considering offering free legal advice to borrowers caught in the mortgage crisis. (Mon, 28 Jan 2008 11:37:08 GMT)
Mortgage woes fuel rising bankruptcies
MANCHESTER (AP) -- Experts say the mortgage crisis is driving much of the increase in personal bankruptcy filings in New Hampshire. ... (Mon, 28 Jan 2008 12:28:21 GMT)
'For Sale' signs a barrier to refinancing home
Homeowners who have tried and failed to sell properties, and are now looking to revise their often burdensome loans, face banks that are making them wait Cherya Jenkins says she has been snagged by a Catch-22 of the mortgage-market mess: She wants to refinance the loans on her West Side three-flat but hasn't been able to -- because she tried to sell the building last year. (Mon, 28 Jan 2008 14:24:02 GMT)
Even with tough mortgage laws, N.C. faces more foreclosures
RALEIGH (AP) — North Carolina's tough mortgage laws, enacted almost a decade ago, have helped the state weather the foreclosure crisis better than most. (Mon, 28 Jan 2008 14:29:00 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, 28 Jan 2008 14:34:12 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, 28 Jan 2008 14:35:02 GMT)
Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Mon, 28 Jan 2008 14:44:33 GMT)
Why Now is a Good Time to Refinance Your ARM Loan
(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, 28 Jan 2008 14:44:43 GMT)
Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Mon, 28 Jan 2008 14:44:53 GMT)
Missed mortgage payments highlight consumer strain
LONDON (Reuters) - Almost half a million cash-strapped homeowners have missed a mortgage repayment in the past six months, figures show. (Mon, 28 Jan 2008 15:23:24 GMT)
Refinancing Catch-22
Mortgage refinancing is available ... for those who need it least. (Mon, 28 Jan 2008 15:28:29 GMT)
Residential Mortgage Lending Down 60% From Peak Levels Home Purchase, Refinance Loan Numbers Weaken; Loan Originations ...
By Amy Wyeth The sky really is falling, at least on the local lending scene. Mortgage originations, once buoyed by a high-flying real estate market, slipped into a tailspin last year as the housing sector struggled and the subprime lending arena imploded. (Mon, 28 Jan 2008 16:16:22 GMT)
Ask the Expert? Mortgage Expert
It's something that can make your head and your bank account hurt. We're talking about your mortgage! And with all of the concerns going around about foreclosure, it's hard to know how to get the best deal. Wesley Burdette, from Access Capital Management, joins us now with some answers. (Mon, 28 Jan 2008 16:31:37 GMT)
Refinancing: Don't Waste Time Wondering, Just Do It
Even a small change in your mortgage rate might lead to big savings. (Mon, 28 Jan 2008 16:48:11 GMT)
Countrywide, Wells Fargo remain top two U.S. mortgage lenders
Despite increased subprime mortgage troubles last year, the nation’s top two home lenders hung onto their positions, according to preliminary numbers released Monday by MortgageDaily.com. (Mon, 28 Jan 2008 17:11:47 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? (Mon, 28 Jan 2008 17:13:33 GMT)
N.D. Set to Subsidize Mobile Home Loans
In an experiment to encourage housing development in western North Dakota's oil patch, a state agency is planning to subsidize loans for prospective residents of a Williston mobile home park. (Mon, 28 Jan 2008 17:39:15 GMT)
IMAGES: Drunken Driver Plows Into Restaurant, Police Say
Are you paying on a high-interest mortgage? Considering refinancing? Enter basic information about your home and your credit, and an email address, you'll get up to four lender quotes. (Mon, 28 Jan 2008 17:39:41 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, 28 Jan 2008 18:40:54 GMT)
Home loan rates to fall
Home loan rates are set to head south. The Reserve Bank of India’s (RBI’s) credit policy, to be declared on Tuesday, is expected to cut the rates at which it lends money to banks, who in turn will pass on the benefit to those who have taken home or personal loans from them. (Mon, 28 Jan 2008 19:14:16 GMT)
New home sales fall by record amount
New home sales plunged in 2007 by the largest amount on record while home prices tumbled sharply in December. Analysts forecast more trouble in 2008 as housing tries to emerge from its worst slump in more than two decades. (Mon, 28 Jan 2008 20:51:50 GMT)
California Mortgage Default Notices Surge
A new report about California home loans shows mortgage defaults rose to a 15-year high in the state during the fourth quarter of 2007. (Mon, 28 Jan 2008 21:06:22 GMT)
BJPs election cocktail: terror, Ram Sethu, home loan rates
Economic concerns of the middle class, old-school Hindutva laced with talk of increasing threats of Islamism, and farmers' distress... (Mon, 28 Jan 2008 21:22:27 GMT)
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