Flipping Down, Foreclosures Up; Housing Slump Spurs Job Losses In this week's survey of news from across the Web, we highlight hard-hit segments of the real-estate market, 'air condos' in the Seattle area and one university town where residential
Some mortgage rates inch higher (CNN Money) Some mortgage rates rose along with bond rates this week as reports of stronger consumer spending in November were tempered by disappointing readings of other economic measures, Freddie Mac reported
Bill toughens Ariz. mortgage fraud laws (East Valley Tribune) State senators are preparing to give final approval this week to new laws designed to imprison bankers, loan officers and even home buyers who engage in mortgage fraud.read more...
Real estate notebook Rates on 30-year mortgages rose for the first time in five weeks as investors awaited word from next week's meeting of the Federal Reserve on the future direction of mortgage
Man pleads guilty to home mortgage scam (The Sacramento Bee) A Sacramento man accused to defrauding two couples in a home mortgage scam pleaded guilty Tuesday to bank fraud and money laundering.read more...
Former Pastor Convicted in Mortgage Scam (WCBS 880 New York) A former youth pastor has been convicted of getting church members to invest in a phony mortgage scheme. Israel Pena faces decades in prison and millions of dollars in fines.read
(ARA) – Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan.
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