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Mortgage News for Friday - November 21, 2003

More Mortgage News
• Freddie Mac, mortgage fiasco
• Do I Require Mortgage Life Insurance?
• Money Matters: 'Life plan' should be a part of marriage finances
• Freddie Mac Cornered
• Murky future for real estate
• Anyone can purchase a house - but will home be where the pain is?
• California home sales stayed active in October
• Housing Construction Surges in Mesa, Ariz., Area
• House agrees on compromise on bill to limit unwanted e-mails
• Chronicles of a house buyer
• Mortgage rates decrease
• Hawaii mortgage rates drop to 5.5%
• Bank mailings target seniors with reverse mortgages
• Woman at the center of housing controversy tells her story
• Mortgage lending makes new record
• Jacko's wallet could thinning out
• Aussies smart credit cards users
• Getting out of debt hole
• Stay Out of Debt This Holiday Season
• Sears American Homeowner Study Highlights Differences in Views on Home Ownership, Repair and Maintenance
Mortgage News
Freddie Mac, mortgage fiasco - 2003-11-21
Two months late and $5 billion long, Freddie Mac's accounting restatement is just the first of many steps in righting the ship at the mortgage finance giant.

As expected on Friday morning, the McLean, Va.-based company said it had understated earnings between 2000 and 2002 by $4.4 billion and found an additional $600 million in earnings not reported from prior periods.
Read the full story at Forbes
 
Do I Require Mortgage Life Insurance? - 2003-11-21
QUESTION: My wife and I own a home with a mortgage. At times, we receive offers in the mail to buy mortgage-protection insurance. The offers say that upon the death or disability of either spouse, the insurance will pay for the mortgage. Is this worth the money?

ANSWER: Mortgage-protection insurance, also known as mortgage life insurance or mortgage disability insurance, is designed to pay off the balance on your mortgage if you die or become disabled, respectively.
Read the full story at Smart Money
 






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