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Choosing an Interest Only Mortgage Option (Argus Observer)
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(ARA) - There are so many types of mortgage programs available to home buyers that it can get difficult to keep them all separate. One of the latest types of programs that many people are taking advantage of is the Interest Only Mortgage option.
 
What caused nonprime mortgage business to falter? (Naples Daily News)
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The nonprime mortgage business is in a mess because during the boom years, hardly anyone had an incentive to say no. The people who take applications, the companies that lend the money, the appraisers who check property values, the investment banks that sell mortgages to investors and the investors themselves — as long as each participant said yes to risky borrowers, everyone made money.
 
FTC Says It Can't Protect Mortgage-Seekers From 'Trigger Lists' (Washington Post)
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When you apply for a mortgage and get a barrage of irritating and confusing phone calls from competing lenders before noon the next day, can you turn to the government for help?
 
Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket (Benton Evening News)
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(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from?
 
Auto Refinancing Puts Gas Money in Your Pocket (Southwest Daily News)
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(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars.
 
Mortgage demand drops despite low interest rates (USA Today)
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Mortgage applications fell last week for the first time in four weeks, reflecting a drop in demand for home refinancing even as interest rates hovered near recent lows, an industry trade group said Wednesday.
 
Refinancing Can Relieve Your Car Payment Burdens (Southwest Daily News)
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(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income.
 
Tactics to avoid mortgage default (The Courier News)
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Trouble begins with a slow-motion descent toward your first missed mortgage payment. It's a queasy feeling thousands of homeowners know too well as their houses slip away.
 
Executive details new risks, opportunities with mortgages (Boston Globe)
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Summit Mortgage chief executive Rick Fedele has more than 20 years experience in the residential and commercial mortgage business. He answered reader questions on Boston.com last week. Here are excerpts:
 
KENNETH HARNEY: FHA helps fill need following collapse of subprime lenders (Detroit Free Press)
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With the subprime mortgage industry in virtual free fall, where do home buyers with less than perfect credit turn for financing?
 



 

 

 

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