Monthly Archives: May 2008

Subprime Mortgages

The American home ownership rate jumped from 45% to 65% in the decade after WWII. Mortgage credit possibilities were opened up to the middle class. Poor people were rarely able to participate in this boom. In 1994, America’s home ownership … Continue reading

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Relying On The Inheritance To Pay Off The Mortgage

From the Guardian: Nearly one in four homeowners are relying on inheritance to pay off their mortgage, figures out today revealed. The survey of more than 2,000 people, carried out by Engage mutual assurance, showed 23% of people with a … Continue reading

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Making Money From Bad Loans

Tom Wolfe writes in A Man in Full: The Male Battle was about to begin! But even that much explanation would have been beyond him. There were a dozen men at the PlannersBanc end of the table. But the show … Continue reading

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Mortgage Payments Highest In More Than Decade

From the Telegraph of London: The interest rates charged on fixed rate loans are rising again after steep increases in mortgage-lenders’ own borrowing costs. The average interest rate on a two-year fixed rate mortgage will soon rise above 7 per … Continue reading

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Mortgage Fears UK-Style

From the Times of London: Northern Rock is planning to more than double the number of people working in its debt management business in a move that will spark fresh fears of widespread repossessions over the coming year. An internal … Continue reading

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Mortgage Rates Rise

From the San Jose Mercury News: Interest rates for long-term mortgages rose this week to their highest levels since March, pushed up by the threat of inflation. The national average interest rate for 30-year, fixed-rate mortgages increased to 6.08 percent … Continue reading

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Refinance Now

From winknews: David Wright of Prime Residential has been lending for more than 20 years and says, "I really sincerely believe it’s going to cost you more in 2009 than 2008." He tells us there are two types of refinance … Continue reading

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Refinancing Jumbo Loans

From the Washington Times: Last week I reported that the rates on the so-called "agency jumbo" loans were dropping. Congress recently passed legislation allowing Fannie Mae and the Federal Home Loan Mortgage Corp. (Freddie Mac), the two government-chartered entities that … Continue reading

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Mortgage Default Jump

CHICAGO -(Dow Jones) – Home loans reported as delinquent to a mortgage insurer trade group surged in April, when a major home lender tightened up its policy for reporting past-due mortgages. The Mortgage Insurance Companies of America said Friday that … Continue reading

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The UK Mortgage Squeeze

From London: THE mortgage business is in crisis, with the number of products on the market slashed by 50 per cent, making borrowing both difficult and more expensive for both existing and would-be home owners, it has been claimed. Kidderminster-based … Continue reading

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