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Mortgage applications continue declining as housing slowdown Print E-mail
Tuesday, 05 September 2006
NEW YORK - U.S. mortgage applications fell for the first time in four weeks as demand for home purchase loans dropped to the lowest level in nearly three year.    The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Aug. 25 decreased 0.9 percent to 556.5 from the previous week’s 561.5, nearly 23 percent below their year-ago level.
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Mortgage rates slump for the sixth week Print E-mail
Tuesday, 05 September 2006
WASHINGTON - Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages dipped to 6.44 percent this week, down from 6.48 percent last week.  Rates on 30-year mortgages fell for the sixth consecutive week, providing home buyers with more relief from an earlier rise in rates.
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Real Estate sales depend on Healthy Waters Print E-mail
Monday, 04 September 2006
As population continues to slump it's important to learn about how to choose a well-water property when you don't have city services.   When choosing a piece of property with a well on it, the first thing you should have your buyer do is to get an independent, certified laboratory to test the water before the sale is final.
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Protections for Mortgage Applicants were stalled key Consumer Protections by Federal Agencies Print E-mail
Monday, 04 September 2006
That congressional mandate, part of the Fair and Accurate Credit Transactions Act of 2003, is now the law of the land which notifies buyers whenever sellers price higher. But virtually no lenders comply with it because two federal agencies have not yet issued regulations telling them how to do it.   The 2003 law directed all lenders to issue "risk-based pricing" notices to applicants whenever negative information in their credit files leads to rates or fees that are "materially less favorable" than the terms available to other applicants.
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Creative Financing seen as a Wrap-Around Mortgage Print E-mail
Monday, 04 September 2006

In a slow real estate market, sellers, potential buyers and real estate agents begin to think about creative financing or known as a "wrap-around" (wrap) mortgage.

This works when, for instance, you want to sell your house for $500,000 and have an existing mortgage loan in the amount of $200,000, with an interest rate of 5 percent.

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A Look at the Local Real Estate Business after a year of Storm Print E-mail
Monday, 04 September 2006
Real estate practitioners who work in some of the most heavily damaged neighborhoods struggled in the aftermath of Katrina, not selling a single home in the first few months after the storm. In contrast, regions close to the affected areas saw an immediate boost in sales activity. Hurricane Katrina have devastated the Gulf Coast causing billions of dollars in damage of more than 200,000 homes along Mississippi, Louisiana and Alabama coasts. 
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