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Mortgage News Jan 2010

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Modified loan on home can hurt
Know the impact before modifying your home loan The last thing many troubled homeowners want to hear is that they could be denied a car loan after they get a chance to modify their home loan.But credit scores can get dinged after a home loan modification, making it more costly or tougher to get a loan or credit card. (Fri, 01 Jan 2010 00:19:05 GMT)

Pesce leaves Catania for Ascoli loan
Catania midfielder Simone Pesce has signed on-loan with Ascoli. “Calcio Catania announce a deal with Ascoli Calcio for a temporary transfer of Simone Pesce when the transfer market opens,” read a statement. It is a return ‘home’ for Pesce, who has already played at the Stadio Del Duca from 2006 to July 2009. (Fri, 01 Jan 2010 01:04:13 GMT)

Mortgage rates keep rising; 30-year ends year at 5.14%
Mortgage rates rose for the fourth straight week, ending the year above 5%. (Fri, 01 Jan 2010 01:19:14 GMT)

Mortgage interest rates rise, set to climb higher in 2010
Mortgage interest rates rose for the fourth consecutive week. If they continue to rise – as some experts expect – they could impact America's economic recovery. (Fri, 01 Jan 2010 04:00:28 GMT)

Rising mortgage rates will test housing market
The interest rate for a 30-year loan ticks up to 5.14%, the fourth consecutive weekly increase. Mortgage rates are continuing their creep upward in a trend that well may choke off a recent refinancing boom and provide a test of the strength of the housing market in 2010. (Fri, 01 Jan 2010 04:12:22 GMT)

Benny L. Kass Mailbag
Consider refinancing to pay credit debt Q:We will soon have our mortgage paid off. Our home is valued at $120,000. Unfortunately, we owe about $50,000 in credit-card debt. I took early Social Security and work part time. My husband will take full Social Security next March and continue to work full time. So we had planned to pay extra on the debt with his Social Security check and the fact that ... (Fri, 01 Jan 2010 05:17:43 GMT)

SBoP extends 8 per cent home loan bonanza upto Jan 31
Patiala, Jan 1 : In tandem with the government policy to provide affordable housing for all, State Bank of Patiala (SBoP) has extended its existing 8 per cent home loan bonanza which expired on December 31 upto January 31. (Fri, 01 Jan 2010 05:57:20 GMT)

Mortgage rates end the year above 5 percent
McLEAN, Va. (AP) — Mortgage rates rose for the fourth straight week, ending the year above 5 percent.The average fixed rate on a 30-year mortgage was 5.14 percent this week, up from 5.05 percent last week, Freddie Mac said Thursday.Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4 ... (Fri, 01 Jan 2010 08:00:00 GMT)

British homeowners continue to trim mortgage debt
• Survey finds mortgage debt fell by £4.9bn in third quarter • Britons increasingly shun personal loans and credit cards Britons reduced their outstanding mortgage debt by £4.9bn during the third quarter of the year, figures from the Bank of England showed today. The amount of money people unlocked from their homes was negative for the sixth quarter in a row, as the economic downturn, combined ... (Fri, 01 Jan 2010 10:47:24 GMT)

Work history key to refinance approval
Lenders scrutinize work history before deciding whether to approve applications for new loans. (Fri, 01 Jan 2010 11:00:00 GMT)

How do I ... Decide to remodel or buy a new home?
Here's a guide to help you decide if you should remodel or buy a new home. (Fri, 01 Jan 2010 11:00:00 GMT)

Consider an adjustable-rate mortgage.
In late 2009, one in 20 borrowers was obtaining adjustable-rate mortgages . As mortgage rates rise in 2010, the proportion of ARM borrowers is expected to grow. (Fri, 01 Jan 2010 11:43:27 GMT)

Home-loan modifications disappoint
This was the year, finally, that promised relief, opening with foreclosure moratoriums and a highly touted Obama administration initiative to keep millions of desperate borrowers in their homes. (Fri, 01 Jan 2010 13:04:02 GMT)

Liverpool want Madrid striker Rodriguez on loan
Liverpool want to take Maxi Rodriguez on loan from Atletico Madrid as manager Rafa Benitez looks to reinforce his squad, reports the Daily Mail.