Freebery mortgage fraud trial opens in Philadelphia (TimesLeader.com) PHILADELPHIA - Former New Castle County Chief Administrative Officer Sherry Freebery never intended to repay a $2.3 million loan from a du Pont heiress, a defense attorney said Monday at
Experts Warn Debt May Threaten Economy You owe $145,000. And the bill is rising every day. That's how much it would cost every American man, woman and child to pay the tab for the long-term promises
Kenneth Harney: Breaking insidious tie between lenders, home appraisals "What did Cuomo find? How does it relate to brokers? Have they gone after appraisers who submitted inflated valuations? Those are the real questions here." Property appraisers have been
How to survive jump in adjustable- rate mortgage (Belleville News-Democrat) First, the bad news: If you're among the millions who took out an adjustable-rate mortgage in the past few years, your monthly payment is likely to jump on the next
Where's the Froth? Luxury Sellers Cut Prices An advertisement for a travel-industry software firm claims the company's technology is responsible for pricing 600 trillion trips every day.read more...
Foley promises Habitat houses built with love Habitat for Humanity Executive Director Megan Foley is enthused about the prospect of building in Townsend.via
“The costs for the banks have increased and yet there still remains an operating band (for other loans), except for five-year mortgages”
– Bank of Canada governor Mark Carney is concerned about the loosening standards in the Canadian mortgage system, particularly the growing popularity of mortgages amortized over a 40-year period.
Carney told a Commons committee Wednesday that the central bank is watching developments in the mortgage lending sector closely to ensure that the abuses seen in the U.S. subprime market do not occur in Canada.
“We have concerns with the increased prevalence of very long amortization and higher value mortgage products,” he said. Read more
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