BMO to offer 5.25% mortgage rate (Toronto Star) There were early indications this afternoon that residential mortgage rates are drifting lower for consumers after Bank of Montreal announced a "special" offer of 5.25 per cent on its benchmark
New plan bypasses court Your view: do we really lack respect? Home owners will be evicted and rehoused in council "sin bins" if they refuse to stop anti-social behaviour, Tony Blair announced yesterday.read more...
Mortgage crisis deepens: Rates on 1.5M home loans will reset this year (Detroit News) The mortgage crisis seems to have no end and no solution, but that isn't stopping Ben Bernanke from trying.read more...
Property Tax Cap Measure Stalls read more...
A Full-Court Press on Bad Loans, But Who Will Referee? Consumer groups believe that lenders should not allow borrowers to take mortgages that aren't suitable for them. Lenders who do allow it should be held liable, they argue. read
No Social Security number, no mortgage? Bill says yes (Seattle Times) New legislation on Capitol Hill seeks to curb an increasingly popular mortgage concept: providing home loans to applicants using their Individual...read more...
The subprime-mortgage problem has entered a third phase. The first phase, needless to say, involved the decline in housing prices in the United States that crippled many homeowners’ ability to repay their loans. Subprime lending schemes were based on the assumption that housing prices would continue to rise and interest rates would stay high. The collapse of both conditions created a sharp …
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