Stretching mortgage to 40 years can be risky (USA Today)
Sky-high prices are not preventing cash-strapped consumers from getting the house of their dreams now that lenders are letting them drag out the term of their mortgages to 40 years.
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Richard Gere Heads To The Hamptons The actor has agreed to buy a house in the village of North Haven for close to its $7.9 million asking price, and Reggie Jackson bought an apartment at Icon
7 On Your Side Investigates Mortgage Fraud A Bay Area couple almost lost their home in the process, even though they paid their mortgage on time, each month.read more...
Nomura to shut U.S. mortgage unit (CNN Money) Japan's largest investment bank will take a loss of $621 million on residential mortgage-backed securities.read more...
Landmark mortgage bill clears Congress (Politico via Yahoo! News) Landmark housing legislation cleared Congress on Saturday, giving the Bush administration an array of new tools to try to shore up mortgage markets and stave off foreclosures threatening hundreds
S.F. Federal Reserve chief sees more mortgage trouble ahead (San Francisco Chronicle) The president of the Federal Reserve Bank of San Francisco said Wednesday the mortgage meltdown and financial services turmoil are likely to be a "major drag" on the national economy
BoE eyes mortgage market intervention (Reuters.co.uk) LONDON (Reuters) - Authorities, under pressure to ease strains in the mortgage market, are considering a scheme that would allow lenders to swap mortgage collateral for government bonds, a source