Lendance.com Personal Finance Topics Archive: February 2006

Home Foreclosure up 34% From 2005: A fallout of the housing boom of 2005 is a sad affair; home foreclosure. Banks that would approved people when their property value increased, then sold and bought higher, has now come full circle. Banks are demanding their money.
Added February 1st, 2006 -- Click here to read more!

Rise in Mortgage Rates Deplete Home Renovations: Affordable home equity line of credit and piggy back loans made 2004 and 2005 the time of the home renovation. Considered an investment in the future, the renovations are now taking back seat to rising rates and a slow property market.
Added February 2nd, 2006 -- Click here to read more!

Real Estate Cools in 2006: Property value boomed. Rates went down, then up. HELOCS were hot, fix rate mortgages were not. What does 2006 hold for the mortgage market? Analyst think that the heat of 2005 is cooling off quickly.
Added February 3rd, 2006 -- Click here to read more!

Mortgage Industry Enthusiastic for 2006: Even with rising property costs and high mortgage rates, those in the mortgage industry look to 2006 as a stellar year. Utilizing referrals and repeat customers, those that sell mortgages are nothing but smiles.
Added February 6th, 2006 -- Click here to read more!

Fee Based Mortgage to Boost Market: The need for objective, competent mortgage advice, while still providing revenue for mortgage professionals, has a new answer. The Mortgage Institute for Financial Services Professionals has proposed a fee-based advisory service which will reward mortgage professionals for their knowledge while providing better service for their borrowers.
Added February 7th, 2006 -- Click here to read more!

Consideration for 50 Year Loan Term: With rates on the rise and property value still high, mortgage companies start to consider 50 year terms to remain competitive.
Added February 8th, 2006 -- Click here to read more!

Ameriquest to Refund $325 Million: Ameriquest – the US’s largest lender to borrower with less than perfect credit – will have to refund almost $325 million in damages to borrowers from Missouri and Kansas. The attorney generals for 49 states brought charges against the company for predatory lending.
Added February 9th, 2006 -- Click here to read more!

Landmark MOU Signed by Union National Bank: Union National Bank and DAMAC Properties have forged a landmark memorandum of understanding (MOU), the first step in a contract of business. The MOU provided that UNB will supply mortgage financing for UAE residents purchasing apartments in DAMAC developments.
Added February 10th, 2006 -- Click here to read more!

Mortgage Auction Attempts to Lower Mortgages: In a market that is becoming more competitive, a website has been started that has lenders bid for mortgages. The site bundles similar borrowers together with the aim of giving them bulk appeal.
Added February 13th, 2006 -- Click here to read more!

Don’t Forget Your Mortgage This Tax Season: Most home owners understand and use the tax break that their mortgage provides. By deducting your mortgage interest payments, you can get back hundreds on your return.
Added February 14th, 2006 -- Click here to read more!

Borrowers Disappointed With Settlement: The settlement reached with Ameriquest Mortgage supposedly guarantees restitution for thousands of Washington state homeowners, according to state leaders. A former assistant attorney general thinks otherwise.
Added February 15th, 2006 -- Click here to read more!

Prudential Looks to $10 Billion in 2006: The year of 2005 was record breaking for Prudential Mortgage Capital Company. They saw $9.34 billion in commercial mortgages fund by the end of that astonishing year.
Added February 16th, 2006 -- Click here to read more!

UK Mortgage at 21 Month High: December proved to be a good month for UK mortgages. The amount of approvals for the last month of 2005 was the highest in 21 months.
Added February 17th, 2006 -- Click here to read more!

Attorney General Goes After Mortgage Predators: Lisa Madigan, the Attorney General for Illinois, has set her sights on mortgage predators. The suit calls mortgage fraud a cancer that is eating away at neighborhoods.
Added February 20th, 2006 -- Click here to read more!

Interest Only Mortgages to Pay Credit Debt?: A fixed rate mortgage, while stabilizing early in 2006, is still high. Is it a good idea to refinance and pay off credit card debt by getting an “interest only” loan?
Added February 21st, 2006 -- Click here to read more!

Mortgage Industry of 2005 in Review: Countrywide Financial Corp. was the biggest residential lender of 2005 with over $500 billion in production. No other company came within $100 billion of the giant mortgage company.
Added February 22nd, 2006 -- Click here to read more!

Mortgage Watchdog in the Works: In a move that may protect borrowers in the future, the GOP is looking at revising a bill to give states the power to regulate lending. The Republican push came from failed past attempts to protect Ohio homeowners.
Added February 23rd, 2006 -- Click here to read more!

Mortgage Rates Rise in Face of Inflation: Rates rose to their highest since December at the beginning of this week, with 30 year fixed rate mortgages leading the increase. Inflation and rising rates have been making real estate investors nervous.
Added February 24th, 2006 -- Click here to read more!

GMAC to Get $110M Conversion From Liberty: Horsham-based GMAC Mortgage Corp. will get a 450,000 square foot office facility developed by Liberty Property Trust. The Ft. Washington building, home of the present GMAC office, will be enlarged from 290,000 sf in the same building.
Added February 27th, 2006 -- Click here to read more!

First Time Homebuyer Relief From the Whitehouse: Home loans may become accessible to first time home buyers with low or moderate income, according to the proposal of the Bush administration for two federally insured mortgage products aimed at just that.
Added February 28th, 2006 -- Click here to read more!

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