The saga of sub-prime mortgage muddle
Assessing the impact of this worldwide financial contagion will take months, if not years
The main reasons for the financial mess seem to be the accretion of large funds with U.S. banks and the structured products developed to pass on the risk to investors.
A home is advertised for sale at a foreclosure auction in Pasadena, California, U.S., last month. The number of homeowners receiving foreclosure notices hit a record high during spring, driven up by problems with sub-prime mortgages.
“Derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal,” so said Warren Buffett, reportedly the third richest person in the world, in 2002. His prophetic words are becoming true with the unravelling of the financial mess created by the sub-prime lending spree in the U.S. The developments will also affect emerging market countries such as India. The developments that led to the explosive situation are traced here.
Sub-prime loans are those given to borrowers whose creditworthiness is below prime and hence are of low quality. In India, sub-prime lending refers to loans carrying rates below the prime lending rate normally offered to high quality borrowers.
Sub-prime or low quality loans are mainly of three kinds: car loans, credit card loans and house mortgage loans. Of these, the biggest and the ones that can endanger the entire financial system are the house mortgage loans. These formed nearly one fifth of all U.S. mortgage loans in 2006, going up from 9 per cent till 2004.Risky home loans
The sub-prime loans were given to borrowers who did not have the capacity to service them (pay interest and repay principal). At the height of such lending, it was said, the borrowers were in the NINJA (no income, no jobs also) category. To lure such borrowers, some lenders adopted ‘predatory’ practices. They lent deliberately knowing that there will be default and, when it occurred, seized the houses mortgaged and sold them off to make a profit.
The basic question is why would any lender (apart from the predatory ones) give loans that carried the highest risk. One reason is that these carried higher interest rates. But, the main reasons seem to be two: large surplus funds with banks and the introduction of esoteric financial instruments that passed on the risk to unsuspecting investors.
Soon after the dotcom bubble burst in 2002, the Federal Reserve (central bank) of the U.S. pumped in money into the system. Too much money in the system led inevitably to lower quality of lending. The availability of credit derivative instruments, which basically transferred the risk to another party, accelerated the pace of sub-prime lending.
Typically, a bank or mortgage finance company (many of them owned by banks) lent to a sub-prime borrower to finance purchase of a house. Since the borrower did not have the means to even pay interest in the beginning, the lender sugar-coated the loan through an adjusted rate mortgage (ARM). One type of such a loan was called 2-28. During the first two years of a 30-year mortgage loan, interest was pegged at a low fixed rate of 4 per cent. In the subsequent 28 years, the rate was floating (variable) at around 5 per cent over a benchmark rate such as LIBOR (London Inter-Bank Offered Rate). Flawed assumption
The lender hoped that even if the borrower could not service the loan after two years, he/she could always take refinance (raise a fresh loan against the same house) for a larger amount. Implicit in this was the assumption that house prices will go on increasing. This premise got a jolt when house prices started climbing down after peaking in 2005-06. When the first two years expired, the interest rate also moved up to very high levels. With LIBOR ruling at over 5 per cent, the mortgage rate shot up to 10 per cent. Suddenly, the EMI (equated monthly installment) of such a loan nearly doubled: for a Rs. 5 lakh loan, it is Rs. 4,470 a month for a 28-year, 10 per cent loan, against Rs. 2,400 for a 30- year 4 per cent loan.
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Monday, September 10, 2007
Saturday, September 1, 2007
Roanoke Virginia Destiny Christian Center International Pentecostal Holiness Church
It is our hope and desire that you find not only information about the ministry of Destiny Christian but that you will also find encouragement and hope for your journey through life.
As a multi-cultural church Destiny Christian Center is a beautiful tapestry of people uniting together in powerful Christ centered worship and Biblical teaching. The true heart of our ministry is reaching out in life changing love and liberating power, bringing the word of God to all people, of all ages and all socio-economic backgrounds. It is our passion to reach our city and ultimately the world with the uncompromising good news of Jesus Christ.
Located right in the Heart of the Roanoke Valley, Virginia:
Destiny Christian Center
612 Bullitt Ave. S.E.
Roanoke, VA 24013
Phone # 540-344-1991
E-Mail : info@destiny-center.com
Browse and Be Blessed,
Pastors Brian & Kay Kingrea
Saturday, August 25, 2007
Thursday, August 16, 2007
College Financial Aid Information, Mortgage Refinance
New Tuition Without Tears Program Shows Parents How to Make ...American Digital Networks (press release) - Annapolis,MD,USAThe Tuition Without Tears program was created by Dr. Michael Franzblau , a former educator and college financial consultant with more than 20 years of ...
Going to College Part Time Has Perks and PerilsU.S. News & World Report - Washington,DC,USAAnd while students sometimes interrupt their enrollment for financial reasons, when they return they often receive less financial aid because their ...
In Study Abroad, Gifts and Money for UniversitiesNew York Times - United StatesThe similarities raise questions about how many aspects of higher education involve such little-known incentives that may have large impacts on the college ...
Most aid officers can be relied on to serveThe Tennessean - Nashville,TN,USATherefore, many rely implicitly on college-aid professionals to guide them through the financial-aid application process which, though mysterious to most, ...
FAP604: Interview with Financial Aid Consultant Reecy ArestyBostonNOW - Boston,MA,USAAnother great, long interview with Reecy Aresty, a fee-based financial aid consultant whose book, How to Pay For College Without Going Broke, ...
The Best Way to Save for CollegeKiplinger.com - Washington,DC,USAParents don't have to worry that a 529 will seriously affect their financial-aid potentia
Going to College Part Time Has Perks and PerilsU.S. News & World Report - Washington,DC,USAAnd while students sometimes interrupt their enrollment for financial reasons, when they return they often receive less financial aid because their ...
In Study Abroad, Gifts and Money for UniversitiesNew York Times - United StatesThe similarities raise questions about how many aspects of higher education involve such little-known incentives that may have large impacts on the college ...
Most aid officers can be relied on to serveThe Tennessean - Nashville,TN,USATherefore, many rely implicitly on college-aid professionals to guide them through the financial-aid application process which, though mysterious to most, ...
FAP604: Interview with Financial Aid Consultant Reecy ArestyBostonNOW - Boston,MA,USAAnother great, long interview with Reecy Aresty, a fee-based financial aid consultant whose book, How to Pay For College Without Going Broke, ...
The Best Way to Save for CollegeKiplinger.com - Washington,DC,USAParents don't have to worry that a 529 will seriously affect their financial-aid potentia
Tuesday, August 14, 2007
Pay off Debt and improve your website ranking!
If you have a website . . .
Most website owners do not realize that the number of incoming links pointing to a website determines its importance on the search engines. If a website has hundreds or thousands of incoming links from other websites pointing to it, the search engines determine it to be very popular and rank it accordingly. The more incoming links that a website has pointing to it, the higher it will rank on the search engines. On the other hand, websites that have no little or no incoming links are deemed unimportant by the search engines and get lost in the millions of search results.
To increase the number of incoming links to your website, you have two options. You can take the slow route of exchanging links one by one with other websites, or you can join an automated link exchange program like LinksMaster. Manually exchanging links with other websites is a slow and tedious process that will take many months of hard work to increase your search engine ranking - not to mention robbing you from focusing on your other important duties. Joining LinksMaster will not only save you the time and hassle of manually exchanging links, but will also instantly provide you with hundreds of quality incoming links to your website. Within a short time, these new incoming links will drive your website to the top of the search engines under your preferred keyword phrases.
In addition to saving you endless hours of tedious link exchange duties each week, LinksMaster can also help you increase your income. Once you become a member of LinksMaster you will automatically receive $10.00 per month for every visitor to your website that subscribes to the service by clicking the referral link located on your links page. You will receive $10.00 per month for each referral for as long as they remain a member of the service. Simply referring three visitors a day for one year will result in over $10,000.00 a month in referral payments.
Most website owners do not realize that the number of incoming links pointing to a website determines its importance on the search engines. If a website has hundreds or thousands of incoming links from other websites pointing to it, the search engines determine it to be very popular and rank it accordingly. The more incoming links that a website has pointing to it, the higher it will rank on the search engines. On the other hand, websites that have no little or no incoming links are deemed unimportant by the search engines and get lost in the millions of search results.
To increase the number of incoming links to your website, you have two options. You can take the slow route of exchanging links one by one with other websites, or you can join an automated link exchange program like LinksMaster. Manually exchanging links with other websites is a slow and tedious process that will take many months of hard work to increase your search engine ranking - not to mention robbing you from focusing on your other important duties. Joining LinksMaster will not only save you the time and hassle of manually exchanging links, but will also instantly provide you with hundreds of quality incoming links to your website. Within a short time, these new incoming links will drive your website to the top of the search engines under your preferred keyword phrases.
In addition to saving you endless hours of tedious link exchange duties each week, LinksMaster can also help you increase your income. Once you become a member of LinksMaster you will automatically receive $10.00 per month for every visitor to your website that subscribes to the service by clicking the referral link located on your links page. You will receive $10.00 per month for each referral for as long as they remain a member of the service. Simply referring three visitors a day for one year will result in over $10,000.00 a month in referral payments.
Monday, August 6, 2007
Tuesday, July 31, 2007
Consumer Debt, Mortgage Refinance, Home Loans
UK Consumers Cut Back on Beer, Shoes as Mortgage Crunch LoomsBloomberg - USAThe ratio of consumer debt to income in the UK is 1.62, the highest in the G-7, according to the National Institute for Economic and Social Research in ...
American Capital Closes Commercial Real Estate CDOCNNMoney.com - USAThis is a testament to the quality and reputation of our real estate team and the quality of our commercial real estate assets," said John Hooker, ...
Brewery Blocks sale leads real estate news for weekBizjournals.com - Charlotte,NC,USAThe sale of the Brewery Blocks for $291.6 million led real estate news for the week. Institutional investors advised by JPMorgan Asset Management submitted ...
Jelmoli sells real estate portfolio for 3.4 bln sfr, turns into ...Forbes - NY,USAZURICH (Thomson Financial) - Jelmoli Holding AG said it has sold its real estate portfolio to a consortium comprising Blenheim Properties, Delek Global Real ...
Spanish real estate concern buys former Tower Records locationBizjournals.com - Charlotte,NC,USABoston Residential Group LLC announced Tuesday it has sold the 46000 square feet of retail space at 360 Newbury St. to Ponte Gadea SL, a Spanish real estate ...
BRE Properties Reports Second Quarter 2007 ResultsCNNMoney.com - USAFunds from operations (FFO), the generally accepted measure of operating performance for real estate investment trusts, totaled $35.6 million, ...
Make profitable investments in foreclosure real estatePR-GB.com (press release) - Sofia,BulgariaThose interested in investing in foreclosure real estate often look for attractive offers of foreclosure homes on online foreclosure listings. ...
Condo.com Announces Joint Venture with CondoHotels.com -Creates ...Business Wire (press release) - San Francisco,CA,USAA condo hotel is the latest trend in vacation home ownership, offering a hassle-free way to own vacation real estate in top vacation destinations. ...
You Can Make Money in Real EstateABC News - USABy MATT WOOLSEY In March, real estate investor Chris Knight paid $10 million for an 8500-square-foot, 13-bedroom mansion in Shelter Island, ...
American Capital Closes Commercial Real Estate CDOCNNMoney.com - USAThis is a testament to the quality and reputation of our real estate team and the quality of our commercial real estate assets," said John Hooker, ...
Brewery Blocks sale leads real estate news for weekBizjournals.com - Charlotte,NC,USAThe sale of the Brewery Blocks for $291.6 million led real estate news for the week. Institutional investors advised by JPMorgan Asset Management submitted ...
Jelmoli sells real estate portfolio for 3.4 bln sfr, turns into ...Forbes - NY,USAZURICH (Thomson Financial) - Jelmoli Holding AG said it has sold its real estate portfolio to a consortium comprising Blenheim Properties, Delek Global Real ...
Spanish real estate concern buys former Tower Records locationBizjournals.com - Charlotte,NC,USABoston Residential Group LLC announced Tuesday it has sold the 46000 square feet of retail space at 360 Newbury St. to Ponte Gadea SL, a Spanish real estate ...
BRE Properties Reports Second Quarter 2007 ResultsCNNMoney.com - USAFunds from operations (FFO), the generally accepted measure of operating performance for real estate investment trusts, totaled $35.6 million, ...
Make profitable investments in foreclosure real estatePR-GB.com (press release) - Sofia,BulgariaThose interested in investing in foreclosure real estate often look for attractive offers of foreclosure homes on online foreclosure listings. ...
Condo.com Announces Joint Venture with CondoHotels.com -Creates ...Business Wire (press release) - San Francisco,CA,USAA condo hotel is the latest trend in vacation home ownership, offering a hassle-free way to own vacation real estate in top vacation destinations. ...
You Can Make Money in Real EstateABC News - USABy MATT WOOLSEY In March, real estate investor Chris Knight paid $10 million for an 8500-square-foot, 13-bedroom mansion in Shelter Island, ...
Thursday, July 26, 2007
Wednesday, July 25, 2007
Find Today's Mortgage News Here
Mortgage pain as poll interest peaksMelbourne Herald Sun - AustraliaIt will flow on immediately to home mortgage rates -- lifting repayments on the average mortgage by about $40-$60 a month. Importantly, back in 1996, ...
Stocks Pare Gains on Mortgage WorriesForbes - NY,USAStill, some investors worried that deteriorating lending conditions in both the home mortgage and corporate debt markets will cork this year's huge stream ...
Weekly mortgage applications down 3.6%MarketWatch - USATotal mortgage application volume fell a seasonally adjusted 3.6%, compared with the week before, but volume was up 13.1% compared with the same week in ...
Stocks Pare Gains on Mortgage WorriesForbes - NY,USAStill, some investors worried that deteriorating lending conditions in both the home mortgage and corporate debt markets will cork this year's huge stream ...
Weekly mortgage applications down 3.6%MarketWatch - USATotal mortgage application volume fell a seasonally adjusted 3.6%, compared with the week before, but volume was up 13.1% compared with the same week in ...
Tuesday, July 24, 2007
Mortgage News for Today
Indians swipe cards, and consumer debt ticks upReuters - USABy Alistair Scrutton and Surojit Gupta NOIDA, India, July 19 (Reuters Life!) - Great India Place, one of India's biggest shopping malls, ...
Banks to combat 'card slave' overspendingChina Post - Taipei,TaiwanThis will be among a series of measures to be adopted when the Consumer Debt Clearance Act, already ratified by the Legislative Yuan, takes effect on April ...
Don't be mastered by BART fare cardThe Argus - Fremont,CA,USA"In a country struggling with consumer debt, is that something BART ought to be doing, providing credit cards?" The cards are part of a larger program of ...
Subprime reforms on table: Senate passage expected todayBoston Herald - United StatesDeval Patrick, Boston Mayor Thomas M. Menino and others have pushed for, would take steps including: making mortgage fraud a felony punishable by up to five ...
MLP, Interhyp to launch residential mortgage joint ventureForbes - NY,USAMUNICH (Thomson Financial) - MLP AG and mortgage broker Interhyp AG will launch a joint venture to provide MLP consultants with access to Interhyp's ...
US mortgage rates unchanged on Monday - BestInfoReuters - USANEW YORK, July 23 (Reuters) - The average rate on a 30-year US mortgage with no upfront points was unchanged at 7 percent on Monday, according to BestInfo ...
CIBC May Write Down C$100 Million of US Mortgage SecuritiesBloomberg - USASubprime home loans, made to people with the worst credit records, are souring at the fastest pace since 2002, according to the US Mortgage Bankers ...
Valley mortgage firm accused of illegal practicesArizona Republic - Phoenix,AZ,USARegulators are trying to shut down a Phoenix mortgage firm they have accused of securing loans from illegal branches at Valley swap meets, malls, ...
Wells Fargo discontinues popular mortgage for subprime borrowersKESQ - Palm Desert,CA,USAAP - July 23, 2007 9:24 PM ET SAN FRANCISCO (AP) - Wells Fargo has stopped offering a popular adjustable-rate mortgage designed for home buyers with ...
Countrywide Home Loans Launches It's Your Choice Mortgage CampaignCNNMoney.com - USACountrywide is arming its more than 9000 loan officers and mortgage sales force with new and improved tools, such as specialized mortgage cost calculators, ...
Freddie Mac mortgage portfolio up 1.2 pct in JuneReuters - USANEW YORK, July 23 (Reuters) - Freddie Mac's retained mortgage holdings increased by an annualized 1.2 percent in June to $712.1 billion, following a 3.8 ...
Emerging-Market Bonds Fall on Growing Subprime Mortgage ConcernBloomberg - USABy Lester Pimentel July 23 (Bloomberg) -- Emerging-market bonds fell as concern about widening losses related to subprime mortages led investors to shun ...
Dollar Falls to Lowest in Two Months on US Mortgage ConcernsBloomberg - USA... to the lowest in two months against the yen and the weakest versus the British pound in 26 years on concern US subprime mortgage losses will worsen. ...
Banks to combat 'card slave' overspendingChina Post - Taipei,TaiwanThis will be among a series of measures to be adopted when the Consumer Debt Clearance Act, already ratified by the Legislative Yuan, takes effect on April ...
Don't be mastered by BART fare cardThe Argus - Fremont,CA,USA"In a country struggling with consumer debt, is that something BART ought to be doing, providing credit cards?" The cards are part of a larger program of ...
Subprime reforms on table: Senate passage expected todayBoston Herald - United StatesDeval Patrick, Boston Mayor Thomas M. Menino and others have pushed for, would take steps including: making mortgage fraud a felony punishable by up to five ...
MLP, Interhyp to launch residential mortgage joint ventureForbes - NY,USAMUNICH (Thomson Financial) - MLP AG and mortgage broker Interhyp AG will launch a joint venture to provide MLP consultants with access to Interhyp's ...
US mortgage rates unchanged on Monday - BestInfoReuters - USANEW YORK, July 23 (Reuters) - The average rate on a 30-year US mortgage with no upfront points was unchanged at 7 percent on Monday, according to BestInfo ...
CIBC May Write Down C$100 Million of US Mortgage SecuritiesBloomberg - USASubprime home loans, made to people with the worst credit records, are souring at the fastest pace since 2002, according to the US Mortgage Bankers ...
Valley mortgage firm accused of illegal practicesArizona Republic - Phoenix,AZ,USARegulators are trying to shut down a Phoenix mortgage firm they have accused of securing loans from illegal branches at Valley swap meets, malls, ...
Wells Fargo discontinues popular mortgage for subprime borrowersKESQ - Palm Desert,CA,USAAP - July 23, 2007 9:24 PM ET SAN FRANCISCO (AP) - Wells Fargo has stopped offering a popular adjustable-rate mortgage designed for home buyers with ...
Countrywide Home Loans Launches It's Your Choice Mortgage CampaignCNNMoney.com - USACountrywide is arming its more than 9000 loan officers and mortgage sales force with new and improved tools, such as specialized mortgage cost calculators, ...
Freddie Mac mortgage portfolio up 1.2 pct in JuneReuters - USANEW YORK, July 23 (Reuters) - Freddie Mac's retained mortgage holdings increased by an annualized 1.2 percent in June to $712.1 billion, following a 3.8 ...
Emerging-Market Bonds Fall on Growing Subprime Mortgage ConcernBloomberg - USABy Lester Pimentel July 23 (Bloomberg) -- Emerging-market bonds fell as concern about widening losses related to subprime mortages led investors to shun ...
Dollar Falls to Lowest in Two Months on US Mortgage ConcernsBloomberg - USA... to the lowest in two months against the yen and the weakest versus the British pound in 26 years on concern US subprime mortgage losses will worsen. ...
Wednesday, July 11, 2007
Real Estate Impact upon Mortgage Companies
Fear of Taxation by AssociationWall Street Journal - USAThe Real Estate Roundtable, another trade group, ran an ad yesterday in a Capitol Hill newspaper saying the proposed tax changes would reduce the value of ...
The past is catching up with real estate broker Ralph Edward ...The Independent Weekly - Durham,NC,USA... McLaurin turned to the Real Estate Commission for a broker's license. When the commission denied his initial application, citing McLaurin's criminal tax ...
Goldman And Merrill Duke It Out In ItalyForbes - NY,USADesperate for a toehold in the Italian real estate market, Goldman Sachs raised its offer for the property fund Berenice on Wednesday, topping an offer from ...
Understanding Apartment/Home Tax InequityCooperator - New York,NY,USAThere's an extraordinary inequity, the entire real estate tax system in New York City is just plain broke." As an illustration of the situation, ...
Old Europe's Realty RichesForbes - NY,USAEuropeans are finally embracing real estate stocks. Outside of Britain, they're not horribly expensive. It's a gorgeous summer afternoon in Paris. ...
Buying Victoria Real Estate - Shared OwnershipReal Estate In Victoria, BC. Canada - Victoria,BC,CanadaIt is becoming more and more popular to purchase Victoria Real Estate in the form of "Shared Ownership". This like everything else can have it's up and ...
The past is catching up with real estate broker Ralph Edward ...The Independent Weekly - Durham,NC,USA... McLaurin turned to the Real Estate Commission for a broker's license. When the commission denied his initial application, citing McLaurin's criminal tax ...
Goldman And Merrill Duke It Out In ItalyForbes - NY,USADesperate for a toehold in the Italian real estate market, Goldman Sachs raised its offer for the property fund Berenice on Wednesday, topping an offer from ...
Understanding Apartment/Home Tax InequityCooperator - New York,NY,USAThere's an extraordinary inequity, the entire real estate tax system in New York City is just plain broke." As an illustration of the situation, ...
Old Europe's Realty RichesForbes - NY,USAEuropeans are finally embracing real estate stocks. Outside of Britain, they're not horribly expensive. It's a gorgeous summer afternoon in Paris. ...
Buying Victoria Real Estate - Shared OwnershipReal Estate In Victoria, BC. Canada - Victoria,BC,CanadaIt is becoming more and more popular to purchase Victoria Real Estate in the form of "Shared Ownership". This like everything else can have it's up and ...
Tuesday, July 10, 2007
Consumer Debt News
US Dollar Trouble, Chinese Stocks and Other Causes of a Market CrashDaily Reckoning - Melbourne,Victoria,AustraliaThe LA TIMES: "Slow job growth and declining home prices are causing financial problems for more Americans, who are falling behind on consumer debt,
IRWIN KELLNER Americans' real national pastime is shoppingMarketWatch - USARelative to take-home pay, total consumer debt outstanding actually fell in the first quarter, according to the Fed's calculations.
IRWIN KELLNER Americans' real national pastime is shoppingMarketWatch - USARelative to take-home pay, total consumer debt outstanding actually fell in the first quarter, according to the Fed's calculations.
Your Money: Mortgage mathAtlanta Journal Constitution - GA, USABy Kara McGuire The direct-mail solicitation claimed that we could shave years off the life of our 30-year mortgage and save thousands of dollars in ...
100% mortgage data 'out of date'RTE.ie - IrelandOne broker, the Irish Mortgage Corporation, says it is no longer the case that a third of first-time buyers take 100% loans. It says the figure is 24% for ...
Mortgage resets: Record bill coming dueCNN - USABorrowers who took out hybrid ARMs in 2004 and 2005 to secure low "teaser" rates for the first two or three years of the loan may see their monthly mortgage ...
US mortgage bond prepayments fall in JuneReuters - USAFull Bio NEW YORK, July 9 (Reuters) - Prepayments on US mortgage-backed securities fell in June as higher interest rates and one less calendar day ...
Mortgage shake-up to tackle homes crisisGuardian Unlimited - UKMinisters plan to shake-up Britain's mortgage market as part of a three-pronged approach to tackle the crisis in affordable housing that is posing a threat ...
Liquidity of covered bonds could usher in new era of mortgage ...Globe and Mail - CanadaEssentially, a covered bond is a debt instrument secured by a covering pool of mortgage loans - or, as is the case in some European countries, public-sector ...
All you need to know about reverse mortgageRediff - IndiaReverse mortgage is a financial option that senior citizen homeowners aged 60 and above can explore. Once all mortgages on their property have been paid off ...
Can you handle the mortgage payments?Telegraph.co.uk - United KingdomPaul Farrow reports If you are one of the two million homeowners whose cheap fixed-rate mortgage is due to expire in the next few weeks, you probably don't ...
US mortgage rates unchanged on Monday - BestInfoReuters - USANEW YORK, July 9 (Reuters) - The average rate on a 30-year US mortgage with no upfront points was unchanged on Monday at 7-1/8 percent, according to ...
100% mortgage data 'out of date'RTE.ie - IrelandOne broker, the Irish Mortgage Corporation, says it is no longer the case that a third of first-time buyers take 100% loans. It says the figure is 24% for ...
Mortgage resets: Record bill coming dueCNN - USABorrowers who took out hybrid ARMs in 2004 and 2005 to secure low "teaser" rates for the first two or three years of the loan may see their monthly mortgage ...
US mortgage bond prepayments fall in JuneReuters - USAFull Bio NEW YORK, July 9 (Reuters) - Prepayments on US mortgage-backed securities fell in June as higher interest rates and one less calendar day ...
Mortgage shake-up to tackle homes crisisGuardian Unlimited - UKMinisters plan to shake-up Britain's mortgage market as part of a three-pronged approach to tackle the crisis in affordable housing that is posing a threat ...
Liquidity of covered bonds could usher in new era of mortgage ...Globe and Mail - CanadaEssentially, a covered bond is a debt instrument secured by a covering pool of mortgage loans - or, as is the case in some European countries, public-sector ...
All you need to know about reverse mortgageRediff - IndiaReverse mortgage is a financial option that senior citizen homeowners aged 60 and above can explore. Once all mortgages on their property have been paid off ...
Can you handle the mortgage payments?Telegraph.co.uk - United KingdomPaul Farrow reports If you are one of the two million homeowners whose cheap fixed-rate mortgage is due to expire in the next few weeks, you probably don't ...
US mortgage rates unchanged on Monday - BestInfoReuters - USANEW YORK, July 9 (Reuters) - The average rate on a 30-year US mortgage with no upfront points was unchanged on Monday at 7-1/8 percent, according to ...
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