Lendance.com Personal Finance Topics Archive: October 2006

Watch Your Prepayment Penalty: Making an extra payment or two towards a mortgage can be a great way to cut the term of your loan. But in some instances, paying off the mortgage too early can result in hefty fees.
Added October 2nd, 2006 -- Click here to read more!

Paying for a Mortgage Broker: The idea of paying a person to find you a mortgage may seem a bit redundant. Even as more banks are offering mortgages to the public, though, nearly half of all homeowners and buyers use a broker.
Added October 3rd, 2006 -- Click here to read more!

Mortgage Applications Still on the Rise: Applications for mortgages are on the rise yet again as interest rates stabilize. With cooling home values, the demand for new home mortgages rose noticeably, being at the highest level in two months.
Added October 4th, 2006 -- Click here to read more!

Reverse Mortgages Still Under Fire: Reverse mortgages have been causing a stir, both from homeowners and from legal officials. A new law requiring education prior to applying is now being seen as redlining by critics.
Added October 5th, 2006 -- Click here to read more!

Fanny and Freddie Not Being Downsized: In an agreement established last year, government mortgage lenders Fannie Mae and Freddie Mac were required to cap their mortgage portfolios. The House of Representatives, however, has stated that the cut will not have to be drastic.
Added October 6th, 2006 -- Click here to read more!

Mortgage Rates Still on Decline: The Federal Reserve has, once again, passed on raising rates. The result is that mortgage rates are still getting lower, sparking hope that the real estate market will regain some strength.
Added October 9th, 2006 -- Click here to read more!

Foreclosures on the Rise: Though mortgage rates are dropping, the number of mortgage foreclosures are still going up. As reports come in for the end of the second quarter, analysts are hoping the third quarter stabilizes.
Added October 10th, 2006 -- Click here to read more!

Home Value Sites Might Aid Mortgage Industry: A new study suggests that a few key issues may show mortgage professionals which clients are likely to close a loan. One of the indications is if a lead was obtained from a home value site.
Added October 11th, 2006 -- Click here to read more!

Home Sales Fall Again: Though the mortgage market appears to be stabilizing and applications are up, it would seem that refinances are the key. Applications for new home loans fell for the fifth strait month in August.
Added October 12th, 2006 -- Click here to read more!

Homeowners Turn to Conventional Mortgages: A few years ago, a homeowner or buyer would have laughed at the idea of receiving a fixed rate mortgage. In a time where people were buying more house than they could afford, exotic mortgages took center stage.
Added October 13th, 2006 -- Click here to read more!

Better Mortgage Info Needed: As a flux of exotic mortgages come due, congressional investigators are learning that more information is needed for consumers before a mortgage is given. Ideas and proposals are being discussed for informational programs.
Added October 16th, 2006 -- Click here to read more!

Mortgage Fraud One of the Largest in US History: A sleepy town in Virginia may not seem like an ideal place to commit one of the largest mortgage frauds in American history. But for three people, two of whom lived in the town, it was perfect.
Added October 17th, 2006 -- Click here to read more!

New Fraud Involves Consultants: People looking to avoid foreclosure now have a new consideration to mull over. When obtaining foreclosure consulting, people now need to be careful of a new type of fraud preying on those considering foreclosing.
Added October 18th, 2006 -- Click here to read more!

Brokers to Bid for Mortgage Leads: People looking for mortgages may have their information treated like a good hand of poker. A new system will allow mortgage brokers to bid on good borrower leads, making the industry yet more competitive.
Added October 19th, 2006 -- Click here to read more!

‘Mortgage Accelerator’ Needs Thought: The mortgage war is heating up as rates drop and more people are thinking of refinancing. Some homeowners, though, are being approached with a new type of payment method: a mortgage accelerator.
Added October 20th, 2006 -- Click here to read more!

State Cracks Down on Mortgage Fraud: The ongoing saga of cracking down on those who commit mortgage fraud has two more people out of business. Massachusetts is a hot bed of fraud with high housings costs and the state has taken action against mortgage fraud.
Added October 23rd, 2006 -- Click here to read more!

Indy Couple Uncover Mortgage Scam: A mortgage scam that involved two states was uncovered by a couple living in Indiana. The couple makes a living out of helping people with foreclosures and brought to light the scam on hand.
Added October 24th, 2006 -- Click here to read more!

Refinances Up as Mortgage Rates Go Down: Many homeowners are running to their local bank or broker in order to cash in on dropping mortgage rates. Refinance applications rose substantially this week as rates take yet another tumble.
Added October 25th, 2006 -- Click here to read more!

Option Mortgages Coming Due: Though mortgage rates have gone down a bit, many homeowners are still faced with their rates adjusting up. Adjustable rate mortgages obtained a few years ago are coming due, often times to the financial ruin of the homeowner.
Added October 26th, 2006 -- Click here to read more!

Mortgage Standards Get Tighter: Though the rush for adjustable rate mortgages has cooled a bit, regulators are still trying to impose tighter standards on those mortgages. Federal regulators are looking to change the way of approving borrowers.
Added October 27th, 2006 -- Click here to read more!

Mortgage Exec Charged With Fraud: A former president of Consumer Mortgage LLC was charged with fraud this week. The man used funds from mortgage investors to pay for gambling debts, house parties and music festivals.
Added October 30th, 2006 -- Click here to read more!

Repurchase Activity Causes Mortgage Concern: The amount of repurchases within the mortgage arena is not normally a cause for concern. But the recent uprising of repurchases has some analyst wondering if the mortgage market is about to crash.
Added October 31st, 2006 -- Click here to read more!

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