Mortgage News Mar 2009

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Local attorney accused in mortgage scam
A couple from Monmouth County allegedly conspired with a Teaneck real estate attorney to pocket nearly $400,000 after selling their house rather than use the money to pay off their mortgage, authorities said today. (Sat, 21 Mar 2009 11:07:59 GMT)

Aerial Services gets loan
DES MOINES --- A Cedar Falls business is closer to recovering from the 2008 floods thanks to a $125,000 forgivable loan from the Iowa Economic Development Board, Gov. Chet Culver announced Thursday. (Sat, 21 Mar 2009 11:36:19 GMT)

British loan shark who raped customer jailed indefinitely
LONDON, March 21 — A loan shark who raped an impoverished customer has been jailed indefinitely. Paul Nicholson, 39, used threats and weapons to force hundreds of thousands of pounds from vulnerable people, charging them interest of up to 150 per cent on loans. When one woman could not pay he threatened to petrol-bomb her home and another distraught debtor was told: "Your priority is to pay me, ... (Sat, 21 Mar 2009 13:29:57 GMT)

Many Valley homeowners lowering mortgage payments
Record foreclosures and the President's plan to encourage lenders to work with homeowners are driving a new wave of loan modification requests. Long-time mortgage banker Jay Luber explained, "People are having difficulty making their mortgage payments." (Sat, 21 Mar 2009 16:16:20 GMT)

Felon-turned-mortgage broker in more hot water
Billy Joe Cannon, a convicted felon turned mortgage broker, is in trouble with the law again. (Sat, 21 Mar 2009 17:20:30 GMT)

US Bank Home Mortgage to expand, add 300 jobs
OWENSBORO, Ky. (AP) - U.S. Bank Home Mortgage announced plans Friday to add 300 jobs to its Owensboro operations and build a 50,000-square-foot single-story office building. (Sat, 21 Mar 2009 17:46:28 GMT)

Locked Out of Refinancing
As mortgage rates dip, some owners lacking equity in their homes are still not able to get a break. (Sat, 21 Mar 2009 18:40:24 GMT)

Opting for a home loan? Check this first!
Decided to buy your own house? There are many pitfalls that can turn this process into a bumpy one. Here are some of those pitfalls that you should be aware of and avoid. (Sat, 21 Mar 2009 19:27:02 GMT)

No ‘doom and gloom’ for home sales here
BERLIN — Though news of home sales continues, for the most part, to be gloomy, local Realtors say they are beginning to see some light. And, it’s not even the end of the tunnel. (Sat, 21 Mar 2009 19:52:43 GMT)

Pay your mortgage? Ask for a better rate
You've managed to keep up with your mortgage payments, but do you qualify for a lower interest rate? (Sat, 21 Mar 2009 20:03:32 GMT)

Weighing up the cost of mortgage break fees
Breaking your fixed mortgage term and moving to a lower interest rate may seem like an easy way to improve your cashflow. But in reality it could be a very expensive trip to the bank. (Sat, 21 Mar 2009 21:08:09 GMT)

Minister's £60,000 expenses for parents' home: 'Rumbled' Tony McNulty drops claim... then calls for it to be curtailed
Another Labour Minister has been caught out in an expenses scandal after effectively admitting he had been wrong to claim £60,000 of taxpayers’ money for a property which is his parents’ main home – not his. (Sat, 21 Mar 2009 23:06:37 GMT)

Credit union victim of soured mortgage market
Regulators worked on Saturday to assess troubles at the largest U.S. corporate credit union with the aim of keeping liquidity flowing through the nation's 7,800 credit unions. (Sat, 21 Mar 2009 23:41:06 GMT)

Rare EDC restaurant loan ends in default
Grand Traverse County's first -- and last -- economic development loan to a restaurant in more than two decades ended in default. (Sun, 22 Mar 2009 00:29:58 GMT)

Low Prices, Rates Attracting First-Time Home Buyers
Some first-time home buyers are taking advantage of deals that would have seemed impossible just months ago. (Sun, 22 Mar 2009 02:17:35 GMT)

No ‘doom and gloom’ for home sales here
BERLIN — Though news of home sales continues, for the most part, to be gloomy, local Realtors say they are beginning to see some light. And, it’s not even the end of the tunnel. (Sun, 22 Mar 2009 02:52:38 GMT)

Lawmaker plans measure to block felons from getting mortgage broker licenses
Felony drug dealers, embezzlers and thieves would be banned for life from receiving a mortgage broker's license under legislation to be introduced by state Rep. Jon Richards. (Sun, 22 Mar 2009 03:10:06 GMT)

Want to refinance
Want to refinance or modify your mortgage. A Consumers Guide to Mortgage Refinancing www.federalreserve.gov/pubs/ refinancings/default.... (Sun, 22 Mar 2009 04:07:33 GMT)

West Virginians refinance as rates drop
CHARLESTON, W.Va. -- As mortgage interest rates drop below 5 percent, thousands of West Virginians have already jumped at the chance to refinance into more affordable rates, state mortgage lenders say. "Our refinancing and loan guarantee business is g... (Sun, 22 Mar 2009 04:09:06 GMT)

Modifying A Mortgage Can Be Tricky
Rafael and Tina Castillo thought their mortgage lender must have made a mistake when it sent them their loan modification paperwork this month. (Sun, 22 Mar 2009 04:13:38 GMT)

Mortgage brokers in a rate crunch
Local mortgage brokers, already busy because of low interest rates, are bracing to get even busier after Wednesday's announcement that the Federal Reserve is taking steps that will push rates even lower."It's really done what they intended it to do," Jill Carson, president of Lancaster-based Fulton ... (Sun, 22 Mar 2009 04:20:14 GMT)

Mortgage rates near low point
Some homeowners with adjustable rate mortgages are getting at least a sliver of relief thanks to the weak economy - lower mortgage payments. (Sun, 22 Mar 2009 05:17:32 GMT)

Some help if you want to refinance
If you're looking for a way to refinance your mortgage, you might want to consider a loan that's backed by the Federal Housing Administration or, if you're a U.S. military veteran, the U.S. Department of Veterans Affairs. (Sun, 22 Mar 2009 05:22:40 GMT)

Should I refinance my house?
“Is this a good time to refinance my house?” As you know, today’s mortgage crisis affects not just homeowners losing their homes, but lending institutions going out of business as a result. (Sun, 22 Mar 2009 07:03:19 GMT)

Propping up construction - Mortgage bank offers subsidised loans to stimulate housing boom
IN AN attempt to free the housing industry from the clutch of a stifling global economic crunch, the Jamaica Mortgage Bank (JMB) has moved to subsidise housing developments that are priced at below $15 million. (Sun, 22 Mar 2009 07:07:19 GMT)

Fixed-rate home loan isn't always best option
Seek a fixed-rate loan? It depends . . . Adjustable-rate loans, especially those with an interest-only component, recently have been shunned and criticized, hammered and nailed. (Sun, 22 Mar 2009 07:11:55 GMT)

Family gets loan for their cave
ST. LOUIS -- An eastern Missouri family expects they'll be able to stay in their home built inside a cave after accepting an offer of a private mortgage contract. (Sun, 22 Mar 2009 07:12:04 GMT)

Tips for avoiding mortgage fraud
Tips to avoid mortgage fraud (Sun, 22 Mar 2009 07:14:44 GMT)

Consumer Loan Rates
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat. (Sun, 22 Mar 2009 08:04:28 GMT)

Loan-modification business booming
With thousands of homeowners struggling to avoid foreclosure, the loan-modification business has exploded in California, triggering a spike in complaints from borrowers who say they paid for services they never received. Until recently, nonprofit agencies that charge nothing for loan counseling dominated the field. (Sun, 22 Mar 2009 09:11:54 GMT)

Home buying: All about down payment
'Down payment', simply put, is the difference between the purchase price of a property and the mortgage loan amount. It underlines the buyer's commitment to complete the deal and indicates the buyer's fidelity in making the loan payments. (Sun, 22 Mar 2009 09:55:51 GMT)

Follow The Mortgage
How the American taxpayer and a swanky Manhattan hedge fund ended up with a Liberian immigrant's busted mortgage. (Sun, 22 Mar 2009 10:10:17 GMT)

MORTGAGE INVESTORS SLAM OBAMA MOD PLAN
As the Obama administration gets barraged with criticism over the effectiveness of its multi-front fight to jumpstart the economy, another battle line has been drawn: investors in mortgage securities are threatening legal action that would derail... (Sun, 22 Mar 2009 10:12:09 GMT)

Maine gets first mobile home park cooperative
A mobile home park along Maine's midcoast has changed hands, and this time the new owners are the residents. (Sun, 22 Mar 2009 14:01:56 GMT)

Housing Opportunities Collaborative Sponsors Mortgage Clinic
More than 150 San Diego County homeowners turned out for free mortgage counseling Saturday. (Sun, 22 Mar 2009 17:34:53 GMT)

Mortgage holiday no holiday in long run
23 March 2009 A Wellington mortgage broker says people need to be aware that a mortgage holiday is not a waiver of interest and that the loan will keep growing. (Sun, 22 Mar 2009 19:07:59 GMT)

When your mortgage application is rejected
Your mortgage application has been rejected, but fear not: Here are some tips on how to deal with it. (Sun, 22 Mar 2009 19:34:10 GMT)

Mortgage interest rates continue to inch downward
Mortgage rates both in Rome and nationally have tumbled to historic lows after the Federal Reserve’s sudden decision last week to print $1.2 trillion and pump it into the economy.The national average rate on a 30-year, fixed-rate mortgage fell to 4.94 percent, down nearly a quarter of a percentage point from a day earlier, according to financial publisher HSH Associates.Rome lenders are offering ... (Mon, 23 Mar 2009 00:29:17 GMT)

Mortgage Rates Continue To Fall - 3/22/2009
If you are looking to buy a new home or refinance your current dwelling, now may be the time to do it. Rates on 30 year mortgages continue to fall to their lowest level in months. Mortgage giant Freddie Mac says the average rate on a 30 year fixed rate mortgage is 4.98 percent. (Mon, 23 Mar 2009 00:48:54 GMT)

Student loan repayment bonus policy extended
Student loan borrowers will qualify for a voluntary repayment bonus whether they are based in New Zealand or overseas, Tertiary Education Minister Anne Tolley announced today. (Mon, 23 Mar 2009 00:52:41 GMT)

State mortgage delinquencies rise with recession
CHARLESTON, W.Va. - At the end of 2007, 4,002 West Virginia home mortgages were seriously delinquent in payments, according to the Mortgage Bankers Association.A year later, at the end of 2008, 5,802 were seriously delinquent as the recession deepened, acc... (Mon, 23 Mar 2009 01:06:53 GMT)

Student loan repayment bonus policy extended
Student loan borrowers will qualify for a voluntary repayment bonus whether they are based in New Zealand or overseas, Tertiary Education Minister Anne Tolley announced today. Before the election, National said that borrowers making... (Mon, 23 Mar 2009 02:13:59 GMT)

Inside the fiasco that led to the mortgage mess
By the end of 2008, a record 5.4 million homeowners were delinquent on their mortgages or in foreclosure. Over the course of six months, Dateline NBC spoke to Countrywide insiders about the unethical practices that led to their institution's collapse, and whistleblowers who explained how the U.S. got into the mortgage mess. (Mon, 23 Mar 2009 02:19:32 GMT)

Luster of refinancing tarnished by home values
Homeowners wanting to take advantage of historically low interest rates and refinance their mortgage are often colliding with the reality that their home just isn’t worth what they paid for it. (Mon, 23 Mar 2009 04:06:05 GMT)

Take Two on Geithner's Toxic-Mortgage Plan
Taking no chances this time, Treasury Secretary Timothy Geithner and other Obama Administration officials worked late Sunday to line up support from private equity and hedge fund executives for their plan to rid the nation's banks of toxic mortgage assets. (Mon, 23 Mar 2009 04:51:15 GMT)

TODAY’S DEALS: NorthMarq Capital Arranged $8.7 Million Mortgage for 184-Unit Rental Community
Las Vegas--NorthMarq Capital has arranged first mortgage financing of $8.7 million for the Indian Ridge Apartments ( pictured ), a 184-unit multifamily property, located in Las Vegas. (Mon, 23 Mar 2009 05:13:59 GMT)

Americans cut back to pay the rent, mortgage
Roughly four in 10 Americans have made big cuts in spending on clothing, personal care or entertainment in order to pay their rent or mortgage payment, according to a survey. (Mon, 23 Mar 2009 06:04:00 GMT)

Posen fear: Lose home to I-294, never get another
Stacie Schmuckal always pays her mortgage on time and has a 748 credit score. But she's worried that she'll lose her home, and won't be able to get another one. Schmuckal's house is one of about 50 homes and businesses in south suburban Posen that may be demolished to make way for a link between I-294 and I-57, and for a widening of 147th Street to accommodate entrance to the Tollway. The ... (Mon, 23 Mar 2009 09:05:13 GMT)

Obama To Tap Mortgage Exec Stevens To Head FHA: Reports
Obama To Tap Mortgage Exec Stevens To Head FHA: Reports (Mon, 23 Mar 2009 09:18:23 GMT)

Couple with 1p a month mortgage
A COUPLE'S monthly mortgage repayments have fallen £1,500 a month to just 1p after the Bank of England slashed interest rates. (Mon, 23 Mar 2009 10:00:39 GMT)

How Low Can Mortgage Rates Go?
The Federal Reserve's move to buy up to $1.25 trillion in mortgage-backed securities helped lower interest rates last week to below the 5 percent level for conventional prime 30-year fixed loans. But how low will mortgage rates go? (Mon, 23 Mar 2009 10:34:26 GMT)

Americans cutting costs to pay mortgage
A new survey found more people are having to cut expenses to pay their monthly mortgage payment or rent. (Mon, 23 Mar 2009 10:52:11 GMT)

Take advantage -- carefully-- of low mortgage rates
Terry Savage: In the midst of all the bad news about mortgages and home foreclosures, there is really some very good news for qualified borrowers. If you're purchasing a new home, or if you've decided to refinance, you can now lock in some enticing low rates, thanks to the Federal Reserve's determination to bring mortgage rates down and get the economy growing. (Mon, 23 Mar 2009 10:55:39 GMT)

Federal mortgage relief plan will help millions keep homes
The president's "Making Home Affordable" plan aims to help people keep their homes in two parts, loan refinance and loan modification. (Mon, 23 Mar 2009 11:48:05 GMT)

The couple's mortgage which went from £1,500 a month to ONE PENCE
A couple have seen their mortgage payments plunge £1,500 a month to just 1p thanks to the huge cuts in interest rates, it emerged today. (Mon, 23 Mar 2009 12:03:45 GMT)

Low rates spur loan refinance interest
STATE COLLEGE With interest rates for home mortgages continuing to fall, many homeowners are asking themselves if they should refinance their home mortgages. (Mon, 23 Mar 2009 13:16:22 GMT)

Stocks Surge on Bank Plan, Rise in Home Sales
Stocks extend rally on gov't plan to soak up bad bank assets; home sales show surprise gain (Mon, 23 Mar 2009 13:58:30 GMT)

Fixed-interest loan rates up - and further rises predicted
Major banks have raised some fixed-interest loan rates, and one finance commentator is warning of more increases to come. The public have become more used to seeing mortgage and loan rates tumbling in recent months as the Official... (Mon, 23 Mar 2009 16:14:30 GMT)

Harewood joins Wolves on loan
Wolves have completed the signing of Marlon Harewood on loan from Villa until the end of the season. The striker, who has been out in the cold at Villa Park all season, will boost Mick McCarthy’s options for the final six games of the Championship campaign. (Mon, 23 Mar 2009 16:47:05 GMT)

Mortgage rates at 5% or lower, but be careful refinancing
In the midst of all the bad news about mortgages and home foreclosures, there is really some very good news for qualified borrowers. (Mon, 23 Mar 2009 16:55:39 GMT)

Harewood joins Wolves on loan
Wolves have completed the signing of Marlon Harewood on loan from Villa until the end of the season. The striker, who has been out in the cold at Villa Park all season, will boost Mick McCarthy’s options for the final six games of the Championship campaign. Villa have a 24-hour recall option on the 29-year-old once he [...] (Mon, 23 Mar 2009 17:15:24 GMT)

How to break down refinance roadblocks
Got a home but you’re barely able to make the payments each month? Many viewers tell us they can’t get their lenders to re-finance or modify their loans. The Fed just sent mortgage rates below 5%, which could mean savings for you ... if you can get it. (Mon, 23 Mar 2009 18:29:57 GMT)

KC Man Gets Prison Time for Mortgage Fraud
A Kansas City man was sentenced to federal prison for a mortgage fraud scheme. (Mon, 23 Mar 2009 19:17:44 GMT)

Should I refinance my house?
“Is this a good time to refinance my house?” As you know, today’s mortgage crisis affects not just homeowners losing their homes, but lending institutions going out of business as a result. (Mon, 23 Mar 2009 19:18:19 GMT)

KC man sentenced for mortgage fraud
A 51-year-old Kansas City man has been sentenced to 15 months in federal prison for mortgage fraud, acting U.S. Attorney Marietta Parker announced this afternoon. (Mon, 23 Mar 2009 19:23:36 GMT)

Stocks surge on bank plan, rise in home sales
NEW YORK -- Wall Street is getting the good news it wants on the economy's biggest problems: banks and housing. Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. Major stock indicators jumped more than 5 percent including the Dow Jones industrial average, ... (Mon, 23 Mar 2009 19:36:01 GMT)

Stocks surge on bank plan, rise in home sales
Wall Street is getting the good news it wants on the economy's biggest problems: banks and housing. Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. Major stock indicators jumped as much as 6 percent, including the Dow Jones industrial average, which soared ... (Mon, 23 Mar 2009 19:36:31 GMT)

US stocks surge on bank plan, rise in home sales
Wall Street is getting the good news it wants on the U.S. economy's biggest problems: banks and housing. Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. (Mon, 23 Mar 2009 19:39:22 GMT)

NRM MPs support Mortgage Bill
The National Resistance Movement caucus yesterday unanimously agreed to support the controversial clauses in the Mortgage Bill 2007. During a closed meeting held at Parliament, the MPs agreed to support clause 7 of the Bill that recommends the mortgaging of customary land. (Mon, 23 Mar 2009 19:59:44 GMT)

Stocks surge on bank plan, rise in home sales
Wall Street is getting the good news it wants on the economy's biggest problems: banks and housing. Investors reignited a two-week rally Monday, cheering the government's plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. (Mon, 23 Mar 2009 20:08:21 GMT)

Mountain of troubled mortgage securities targeted by Treasury
SAN FRANCISCO (MarketWatch) - The Treasury Department's latest plan to stabilize the financial system is partly targeting a formidable mountain of troubled mortgage-securities from the real-estate boom earlier this decade. (Mon, 23 Mar 2009 20:11:15 GMT)

KC man gets 15 months in mortgage fraud scheme
Joseph Balano, a Kansas City man accused of participating in a $12 million mortgage fraud conspiracy, was sentenced to 15 months in federal prison and ordered to pay nearly $500,000 in restitution. (Mon, 23 Mar 2009 20:11:48 GMT)

How to Break Down Refinance Roadblocks
Got a home but you’re barely able to make the payments each month? Many viewers tell us they can’t get their lenders to re-finance or modify their loans. The Fed just sent mortgage rates below 5%, which could mean savings for you ... if you can get it. (Mon, 23 Mar 2009 21:15:03 GMT)

Mortgage-backed Securities Index Surges On Toxic-asset Plan
Mortgage-backed Securities Index Surges On Toxic-asset Plan (Mon, 23 Mar 2009 21:48:43 GMT)

Special Chase Loan Offices Amplify Foreclosure Prevention Efforts in South Florida
----Chase : WHAT: Chase officially opens its new face-to-face homeownership centers in South Florida to help families struggling with their mortgage payments. Chase will have loan counselors in five centers in Florida to help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC - all now part of JPMorgan Chase. (Mon, 23 Mar 2009 22:08:00 GMT)

LIers find federal mortgage plan help comes slowly
A month after the Treasury Department rolled out its mortgage plan to help struggling homeowners, none of the $75 billion has reached many mortgage holders, and local lenders are still waiting for more information about how the program will work. (Mon, 23 Mar 2009 22:10:52 GMT)

Men to forfeit millions in Provo mortgage scam
Five defendants in a multimillion-dollar mortgage scam in a ritzy Provo neighborhood will forfeit millions of dollars in order to re-pay victims of the scheme. (Mon, 23 Mar 2009 22:17:31 GMT)

Low Mortgage Rates Have More Homeowners Talking Refinance
Many homeowners consider refinancing as mortgage rates drop below 5 percent. (Mon, 23 Mar 2009 23:20:32 GMT)

Credit Markets: Subprime mortgage MBS index rallies on Treasury plan
An index that tracks subprime mortgage-backed securities makes its biggest one-day jump since early February, rallying after the Treasury Department releases details of a plan to encourage investors to buy banks’ illiquid assets. (Tue, 24 Mar 2009 00:02:49 GMT)

30-Year Mortgage Rates at Record Low
According to financial publisher HSH Associates, rates on 30-year mortgages are the lowest ever on record at 4.75 percent, making it a good time to buy a home or refinance. (Tue, 24 Mar 2009 00:07:35 GMT)

Mortgage fraud case defendants to forfeit millions
Defendants accused of mortgage fraud involving the sale of homes in an upscale Provo neighborhood agreed on Monday to forfeit about $5.5 million earned in the scheme. (Tue, 24 Mar 2009 00:18:22 GMT)

Lehman loan jams up Big Island project
A $105 million loan by Lehman Brothers to pay for development of 5,700 acres of former sugar plantation land on the Big Island is the latest financial deal ensnarled by the Lehman bankruptcy. (Tue, 24 Mar 2009 00:22:25 GMT)

Subprime Mortgage MBS Index Rallies On Treasury Plan
An index that tracks subprime mortgage-backed securities on Monday made its biggest one-day jump since early February, rallying after the Treasury Department released details of a plan to encourage investors to buy banks' illiquid assets. (Tue, 24 Mar 2009 00:28:04 GMT)

Texas woman gets 99 years in mortgage-fraud scheme
A 52-year-old woman from Gun Barrel City in East Texas was sentenced Monday to 99 years in prison for her involvement in a mortgage-fraud scheme, officials said Monday. (Tue, 24 Mar 2009 03:03:51 GMT)

Dow takes heart from home sales, bank plan
Wall Street got the news it wanted on the economy's biggest problems - banks and housing - and responded with a rally that hurtled the Dow Jones industrials up nearly 500 points. Investors added rocket fuel Monday to a two-week-old advance, cheering the government's plan to help banks remove bad assets from their books and also welcoming a report showing a surprising increase in home sales. ... (Tue, 24 Mar 2009 03:27:11 GMT)

Be wary of home modification offers
Refinancing used to be your only option for easing your mortgage loan, but now, thanks to federal programs like the 2009 New Recovery Act, "loan modification" is a catch phrase. (Tue, 24 Mar 2009 03:43:51 GMT)

BY THE NUMBERS: Mortgage complaints
7,305 Complaints about mortgage fraud and questionable foreclosure rescue services filed with state regulators in 2008, according to the Florida Attorney General's Office. (Tue, 24 Mar 2009 04:55:00 GMT)

Asking for Student Loan Forgiveness
In just two short months, Robert Applebaum has become something of a spokesman for a generation of people burdened with student loan debt. (Tue, 24 Mar 2009 05:21:45 GMT)

Home prices fall by third in Summit
Home prices fall by third in Summit (Tue, 24 Mar 2009 05:49:18 GMT)

Loan modification firm targeted Hispanic residents, state lawsuit claims
Attorney general sues loan modification firm Florida Attorney General Bill McCollum on Monday sued a Miami company, alleging the company targets Hispanics facing foreclosure and charges them upfront fees to modify their mortgages. (Tue, 24 Mar 2009 07:15:21 GMT)

Couple pay 1p a month for mortgage after rates slashed
A couple are paying just 1p a month on their mortgage after the Bank of England slashed interest rates. (Tue, 24 Mar 2009 07:18:57 GMT)

SUSAN TOMPOR: Home buyer tax deals may baffle
First-time home buyers could save good money on their 2008 income taxes, maybe enough to buy furniture, but they must wade through confusing tax breaks. (Tue, 24 Mar 2009 07:21:04 GMT)

The penny a month mortgage
LUCKY Ben and Nicola Cameron pay just 1p a month mortgage on their £400k home (Tue, 24 Mar 2009 08:02:32 GMT)

The One-Cent Mortgage
Don't hate Ben and Nicola Cameron because their mortgage went from $2200 to a penny overnight. (Tue, 24 Mar 2009 08:35:00 GMT)

Council asked to transfer money for student-built home loan in Near East Neighborhood
The buyers of a home being constructed by high school students on Oxford Avenue could receive a $25,000 deferred payment loan if the Oshkosh Common Council approves the transfer of money from the state tonight. (Tue, 24 Mar 2009 09:22:43 GMT)

UK Feb. RPI excld. Mortgage interest payments up 2.5% vs. 2.4% in January
(RTTNews) - UK Feb. RPI excld. Mortgage interest payments up 2.5% vs. 2.4% in January (Tue, 24 Mar 2009 09:41:56 GMT)

Bank's mortgage numbers look funny
An online mortgage calculator shows a homeowner's loan balance may be lower than the lender claims. (Tue, 24 Mar 2009 10:00:00 GMT)

Mortgage approvals signal change
A rise in mortgage approvals by the major banks for the third month in a row brings some cheer to the housing market. (Tue, 24 Mar 2009 10:33:52 GMT)

AIG suing Wachovia over home loan agreement
An American International Group Inc. banking unit sued a Wachovia Corp. subsidiary claiming it reneged on a 2005 agreement to repurchase defective home-equity loans. (Tue, 24 Mar 2009 11:16:06 GMT)

Mortgage approvals up for third month
LONDON (SHARECAST) - Mortgage approvals increased for the third month in a row in February, providing a ray of sunshine for the beleaguered property market. (Tue, 24 Mar 2009 11:24:39 GMT)

Lenders rarely refi during bankruptcy until the case is closed.
Dear Bankruptcy Adviser, I filed for bankruptcy and want to refinance my mortgage from an (adjustable rate mortgage) to a 30-year fixed. I want to lower my interest rate and lower my payment. My mortgage company says they can't do anything while I'm in bankruptcy. (Tue, 24 Mar 2009 11:36:05 GMT)

Asking for Student Loan Forgiveness
In just two short months, Robert Applebaum has become something of a spokesman for a generation of people burdened with student loan debt. Applebaum, a 35-year-old attorney in New York, started a Facebook group in January called "Cancel Student Loan Debt to Stimulate the Economy," fed up with news reports about bank executives spending millions to redecorate their offices and receiving hefty ... (Tue, 24 Mar 2009 12:08:42 GMT)

Zillow: Pennsylvania mortgage rates among lowest in nation
The average rate for a 30-year fixed-rate mortgage continued to drop last week, with Pennsylvania among the lowest rates in the country, according to Web site Zillow.com. (Tue, 24 Mar 2009 12:33:14 GMT)

Ford City to refinance mortgage loans from two banks
Ford City council plans to refinance loans with two banks holding mortgages on its riverside industrial buildings. (Tue, 24 Mar 2009 14:01:03 GMT)

Mortgage Lending to Jump to $2.78 Trillion in 2009 (Update1)
March 24 (Bloomberg) -- The Mortgage Bankers Association boosted its forecast for 2009 home-loan originations by $800 billion to $2.78 trillion as a wave of refinancing and low interest rates spur homeowners to seek out new loans. (Tue, 24 Mar 2009 14:13:29 GMT)

Mortgage Fees Highest Since 2000 Will Buoy U.S. Banks (Update1)
March 24 (Bloomberg) -- David Rapaport, a professor at the University of California San Diego Medical School, is paying an upfront fee of $3,500 to refinance his mortgage at 5.13 percent. A year ago, his rate was 6.25 percent and there were no fees. (Tue, 24 Mar 2009 14:28:29 GMT)

Attorney-Based Loan Modifications Helping Struggling Southern Californians Save Their Homes
The Lawyer in Blue Jeans Group's Attorney-Driven Loan Modification Approach Proving Effective With Lenders, Helping at-Risk SoCal Homeowners Stay Put by Achieving Their Home Mortgage Mitigation Goals (Tue, 24 Mar 2009 14:33:18 GMT)

'Jumbo' Mortgages Still Costly - And Harder to Get
While most mortgage rates head lower, buying or refinancing a more expensive house is getting harder. "I don't see the situation for jumbo rates improving for more than a year or two," says one economist. (Tue, 24 Mar 2009 15:01:18 GMT)

Home Prices Had Smallest Drop in 5 Months in January (Update1)
March 24 (Bloomberg) -- U.S. home prices fell 6.3 percent in January from a year earlier, the smallest decline in five months, as lower mortgage rates began to spur demand. (Tue, 24 Mar 2009 16:23:28 GMT)

FTC: US Court Halts Sham Mortgage Loan Modification Operations
The Federal Trade Commission convinced a U.S. district court to order two companies to stop advertising that they are part of a government-endorsed mortgage-assistance network. (Tue, 24 Mar 2009 16:28:16 GMT)

HDFC cuts home loan rates for existing customers
HDFC is the country's biggest mortgage lender. (Tue, 24 Mar 2009 16:38:03 GMT)

Report: Home prices up in Rocky Mountains for 1st time since June
Home purchase prices in Colorado and neighboring mountain states rose 0.8 percent in January from the previous month, the first month-to-month price increase in the region in seven months, the Federal Housing Finance Agency reported Tuesday. (Tue, 24 Mar 2009 16:39:04 GMT)

UK mortgage lending at £1200bn 'unmanageable' claims Cap Gemini banking report
Mortgage lending in the UK has reached "unmanageable" levels and must shrink as a proportion of national economic output claims Cap Gemini banking report. (Tue, 24 Mar 2009 16:53:17 GMT)

Loan Modification and Repayment Plan Services Now Available on Real Estate Marketing Website YourKasa.com
ATLANTA, GA – March 24, 2009 – Online real estate marketing company YourKasa.com, which specializes in a number of informational and financial services for buyers and sellers, announces that it will begin offering loan modification and repayment plan services to homeowners who are at risk of losing their homes due to foreclosures. (Tue, 24 Mar 2009 16:54:58 GMT)

Fed moves spur mortgage demand
In another small sign of life for the US housing market, the Mortgage Bankers Association said on Tuesday that mortgage demand will swell this year bringing the number of new home loans to the fourth highest total on record. (Tue, 24 Mar 2009 16:55:02 GMT)

SUSAN TOMPOR: Mortgage company is scam
UPDATED AT 3:30 P.M. — A Southfield-based mortgage company called Capita Management Group has been ordered to stop doing business by state regulators. (Tue, 24 Mar 2009 18:49:19 GMT)

MBA Increases Forecast of Mortgage Originations in 2009 by Over $800 Billion
(RTTNews) - The Mortgage Bankers Association announced Tuesday that it has increased its forecast of mortgage originations in 2009 by over $800 billion. (Tue, 24 Mar 2009 19:12:23 GMT)

Mortgage Bankers Association revises originations estimate
The Mortgage Bankers Association has raised its 2009 estimate of mortgage originations by $800 billion to a new total of $2.78 trillion. (Tue, 24 Mar 2009 20:08:06 GMT)

Mortgage Bankers Association revises originations estimate
The Mortgage Bankers Association has raised its expectations for 2009 mortgage originations, saying that low interest rates and new federal programs will spur large numbers of people to refinance. (Tue, 24 Mar 2009 20:32:00 GMT)

HDFC rate cut to benefit 9 lakh home loan borrowers
Mumbai, March 24: HDFC — the country’s largest housing finance company — has cut its retail prime lending rate (RPLR) by 50 basis points. The rate cut will benefit its nine lakh home loan borrowers across the country. (Tue, 24 Mar 2009 21:02:19 GMT)

Mortgage Refinancing May Hit $2 Trillion in 2009
Lower mortgage rates are expected to drive the trend. (Tue, 24 Mar 2009 22:02:23 GMT)

US banks see surge in home loans in '09
The Mortgage Bankers Association boosted its forecast for 2009 home-loan originations by $800 billion to $2.78 trillion. (Tue, 24 Mar 2009 22:10:52 GMT)

Lawyer on trial for mortgage fraud
CHARLOTTE, N.C., March 24 (UPI) -- A real estate lawyer went on trial in North Carolina this week on charges of helping in a multimillion-dollar mortgage fraud scheme. (Tue, 24 Mar 2009 22:18:03 GMT)

Is Refinancing Right for You?
Mortgage rates have dropped to historically low levels. Lenders report booming business for refinancing, but how do you know if it's right for you? (Tue, 24 Mar 2009 22:25:58 GMT)

MLS boss says Toronto fans wrote the book on making home games an occasion
Soccer supporters in Seattle may give the fervent Toronto FC fans a run for their money this season in the MLS when it comes to home atmosphere, says league commissioner Don Garber. (Tue, 24 Mar 2009 22:27:00 GMT)

Mortgage fees hit new highs for banks
Spike in refinancing because of low rates helps lenders widen their profit (Tue, 24 Mar 2009 22:27:42 GMT)

Mortgage Fees Highest Since 2000 Will Buoy U.S. Banks (Update2)
March 24 (Bloomberg) -- David Rapaport, a professor at the University of California San Diego Medical School, is paying an upfront fee of $3,500 to refinance his mortgage at 5.13 percent. A year ago, his rate was 6.25 percent and there were no fees. (Tue, 24 Mar 2009 22:44:56 GMT)

Mortgage Lending to Jump to $2.78 Trillion in 2009 (Update2)
March 24 (Bloomberg) -- The Mortgage Bankers Association boosted its forecast for 2009 home-loan originations by $800 billion to $2.78 trillion as a wave of refinancing and low interest rates spur homeowners to seek out new loans. (Tue, 24 Mar 2009 23:12:15 GMT)

Unitrin to exit auto-loan business
Chicago insurance and financial-services provider Unitrin Inc. said Tuesday that it intends to conduct an "orderly wind-down" of its loss-plagued auto-loan subsidiary, Fireside Bank. (Tue, 24 Mar 2009 23:40:52 GMT)

Mortgage vs pay TV bill: which would you pay?
Mortgage, pay TV on a par if money's tight, report finds. (Tue, 24 Mar 2009 23:45:45 GMT)

New mortgage lending hits 10-month high
New mortgage lending jumped to its highest level in 10 months in February, the British Bankers’ Association reported on Tuesday, in the latest sign that the housing market may be stabilising. (Wed, 25 Mar 2009 00:08:25 GMT)

Mortgage Bankers Association revises originations estimate
The Mortgage Bankers Association has raised its 2009 estimate of mortgage originations by $800 billion to a new total of $2.78 trillion. (Wed, 25 Mar 2009 02:56:03 GMT)

Plan to support cross-city home buying
Potential home buyers might be able to utilize the loans released by the Housing Provident Fund in any of the eight designated cities in Guangdong province, without having to restrict themselves to the city where the loan application was filed and the money deposited. A scheme aimed at sharing the fund among the eight cities will be announced within a month, the Guangzhou housing fund authority ... (Wed, 25 Mar 2009 03:04:20 GMT)

GOP Housing Plan Would Expand Tax Credits, Tackle Mortgage Fraud
House Republican leaders plan to unveil a housing package today that would increase the tax credits available for home buyers and would direct law enforcement to crack down on mortgage fraud. (Wed, 25 Mar 2009 03:30:39 GMT)

Standard Bank home loan applications end in dustbin
Standard Bank is declining all new applications for home loans received from mortgage originators. (Wed, 25 Mar 2009 04:31:43 GMT)

HDFC Cuts RPLR For Existing Home Loan Customers
(RTTNews) - HDFC cut its retail prime lending rates for existing home loan customers by 50 basis points with effect from March 25. This is the second time in three months that the HDFC cut the RPLR, thus reducing the rate by 100 bps since December 2008. (Wed, 25 Mar 2009 06:13:02 GMT)

Refinance mortgage at lower rates
With lower interest rates on home mortgages, it's possible that refinancing your loan could save you money each month. (Wed, 25 Mar 2009 06:26:11 GMT)

NEW: OâFallon offers seminar on home improvement loans
O’Fallon is offering a free seminar to help residents apply for the city’s Home Improvement Loan Program. The seminar is scheduled for 3 p.m. April 14 in the multipurpose room at City Hall. (Wed, 25 Mar 2009 07:32:52 GMT)

Citi, BofA Said to Buy Mortgage Securities in Bulk
The Treasury Department recently unveiled its plan to lift mortgage-linked securities off banks’ balance sheets. But Citigroup and Bank of America have been buying those assets in a hurry from the secondary market, The New York Post reported. (Wed, 25 Mar 2009 11:04:12 GMT)

Refinance applications up 41.5% last week: MBA
Applications filed to refinance an existing mortgage rose an unadjusted 41.5% last week, compared with the week before, after an announcement by the Federal Reserve caused fixed-rate mortgage rates to fall, according to the latest Mortgage Bankers Association survey results, released on Wednesday. (Wed, 25 Mar 2009 11:17:49 GMT)

New mortgage lending hits 10-month high
New mortgage lending jumped to its highest level in 10 months in February, the British Bankers’ Association reported on Tuesday, in the latest sign that the housing market may be stabilising. (Wed, 25 Mar 2009 11:26:28 GMT)

Mortgage applications surge 30%
Report says refinancing applications made up the bulk of last week's gain. Interest rates fall to historic lows. (Wed, 25 Mar 2009 11:29:24 GMT)

Refinance boom sends mortgage applications higher
Mortgage applications in the U.S. rose for a third consecutive week as a drop in borrowing costs helped spur a wave of refinancing and encouraged purchases. (Wed, 25 Mar 2009 11:34:05 GMT)

4 steps to refinance your mortgage
With mortgage rates heading to all-time lows , many homeowners may be considering refinancing their homes. Refinancing can be a great option for many homeowners, and the numbers certainly can be appealing. (Wed, 25 Mar 2009 11:36:12 GMT)

U.S. MBA’s Mortgage Applications Index Jumped 32% Last Week
March 25 (Bloomberg) -- Mortgage applications in the U.S. rose for a third consecutive week as a drop in borrowing costs helped spur a wave of refinancing and encouraged purchases. (Wed, 25 Mar 2009 11:43:10 GMT)

Mortgage applications jump; rates at record low
U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday. (Wed, 25 Mar 2009 12:06:42 GMT)

Hong Kong Feb. New Residential Mortgage Loans Drawn Down Increase
(RTTNews) - Wednesday, a report by the Hong Kong Monetary Authority said the value of new residential mortgage loans drawn down increased 15.7% month-on-month in February, reversing the 15% drop in January. (Wed, 25 Mar 2009 12:13:28 GMT)

U.S. MBA’s Mortgage Applications Index Jumped 32% Last Week
March 25 (Bloomberg) -- Mortgage applications in the U.S. rose for a third consecutive week as a drop in borrowing costs helped spur a wave of refinancing and encouraged purchases. (Wed, 25 Mar 2009 12:38:29 GMT)

Mortgage Applications Jump Over 32 Percent On Heels Of Fed Announcement
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume rose over 32 percent last week, as low mortgage rates on the heels of the Fed's decision to buy Treasury securities encouraged both the purchase and refinancing of mortgages. (Wed, 25 Mar 2009 12:43:09 GMT)

Home loan queries?
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it. Got a question for Harsh Roongta? (Wed, 25 Mar 2009 12:55:56 GMT)

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