Long Term Mortgage Rates Continue To Fall
September 5, 2007
“Interest rates on conforming long-term fixed-rate mortgages declined
slightly, while rates on one-year adjustable rate mortgages increased by
about a quarter of a percent,” said Frank Nothaft,
Freddie Mac vice president and chief economist. “The increase in ARM
rates is consistent with…
Mortgage Applications See Slight Gain
September 5, 2007
The Mortgage Bankers Association announced this morning that applications for mortgage loans increased 1.3 percent last week when compared to the week prior. Quicken Loans Chief Economist Bob Walters says although mortgage standards have tightened, positive financing opportunities are still available for those who qualify.
Tips to avoid foreclosure
September 5, 2007
homeowners who find themselves in a situation where they may eventually be facing foreclosure need to act fast. There are a few options that, if done soon enough in the process, can save a person money and most importantly their credit.
Bush Plan To Help The Ailing Housing Markets
September 5, 2007
Word came late last week from both the Federal Reserve and the White
House that the federal government does not intend to stand by and watch
the housing and credit crisis drive the country into recession.
Marlborough Stirling Canada introduces two-way lender link with AIG United Guaranty
September 5, 2007
TORONTO, Ontario, September 05, 2007 — Moving forward on its vision of connecting all players in the Canadian mortgage industry, leading technology services provider Marlborough Stirling Canada (MSC) announces the successful production launch of an electronic interface to AIG United Guaranty Mortgage Insurance Company Canada.
Bank of Canada keeps target for the overnight rate at 4 1/2 per cent
September 5, 2007
OTTAWA, Ontario, September 05, 2007 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 3/4 per cent.
60 Unit Housing Project Opens in Saint John
September 5, 2007
SAINT JOHN, New Brunswick, September 05, 2007 — Canada’s New Government and the Province of New Brunswick officially opened a new 60-unit housing project in Saint John today, of which 30 units are funded under the Canada – New Brunswick Affordable Housing Agreement. The project created housing units for non-elderly singles and …
Quitclaim Deed: Document transferring property-interest
September 5, 2007
Quitclaim deed is a legal document that helps to transfer your share of interest in the property (house, land, mobile home, etc) to another individual. The person giving away the interest is the grantor while the one who accepts it is the grantee. While the interest is transferred, no warranty is made on the rights which others may claim from the property.
Reverse Mortgage: The Financial Aid for Seniors
September 5, 2007
If you’re senior person looking to cash in your home equity and use it to your advantage, a reverse mortgage can help. With a reverse mortgage, you can convert your home equity into a steady flow of tax-free income thereby receiving a monthly paycheck at regular intervals. As such these loans are preferable choices of seniors in the US as well as in UK, Canada and even in India.
Should you go for a Second Mortgage loan?
September 5, 2007
You may need a lot of cash but cannot avail it through credit cards or any other means. Here’s where a second mortgage can help you. This article gives you an overview of second mortgage and covers the following aspects:What is second mortgage?When do you choose a second mortgage?How much can you borrow?What are the possible rates, terms and fees?How to get a second mortgage?What happens to the second loan if you refinance the first?
What is second mortgage?
It is a loan taken against your home on which there exists a primary mortgage. The second loan has less priority compared to the first on the same property. So, if you default, you need to clear your first loan prior to paying off the outstanding balance on the second loan.
How to Qualify for Mobile Home Mortgage Loan
September 5, 2007
Home buyers unable to afford a traditional site built home or unwilling to spend more on housing consider mobile home as a suitable housing alternative.
Is Mortgage Refinance a wise financial move?
September 5, 2007
Are you looking forward to get extra cash, save more and pay off all your debts? Or, do you wish to replace your current mortgage with a new loan having more favorable loan terms. There’s a way out by which you can fulfill all such needs - a process called refinance (or refinancing). It gives you the chance to pay down your current home loan from the funds offered in a new loan against the same property as the collateral.