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Mortgage News for Wednesday - November 26, 2003

More Mortgage News
• 100 WaMu workers lose jobs, more cuts expected
• Growth in GDP surges, strongest since 1984
• Economy delivers a cheery Thanksgiving: Most indicators Positive
• 30-Year Mortgage Rates Increases 0.06 Percent
• Household Finance to Pay $100 Million in Mortgage-Abuse Settlement
• South Carolina Home Sales Increase 25 Percent
• Household International to settle mortgage suit
• Massachusetts Home Sales Up for Fourth Consecutive Month
• Home dream turned nightmare haunts a dying man
• Home sales maintain gains over last year
• New Home Construction in Metropolitan Milwaukee Recovers
• Finance deals face clampdown as complaints leap
• Mortgage loan limit increased in county
• Last-chance mortgage
• Revised GDP sets growth at rate of 8.2 pct.
• Lenders take advantage of homeowners
• Realtors see benefit of higher mortgage loan limit
• Luxury home sales higher
• DOVER-Residents will see a 5.1% jump in property taxes in 2004.
• Cincinnati home sales break another record
• Bankrate: Mortgage Rates Ignores Latest Economic News
• Apex Mortgage Capital Stockholders Okays Merger with American Home Mortgage
• Freddie Mac Statrs Homeownership Effort for Low-Income Renters with Adams County Housing Authority, Bank of Hanover, Waypoint Bank, Housing Council of York
• MBA Likes Senate Passage of the American Dream Downpayment Act
Mortgage News
Mortgage loan limit increased in county - 2003-11-26
Higher priced houses will be a little more attainable in the San Diego area next year.

Effective Jan. 1, the so-called conforming loan limit will increase to $333,700. Also on that date, the ceiling on government-insured mortgages will rise to about $290,300 in San Diego and other high-cost areas, and $160,200 in most other places.

The conforming loan limit, now $322,700, is the ceiling on loans that can be purchased by Fannie Mae and Freddie Mac.
Read the full story at SignOn San Diego
 
Last-chance mortgage - 2003-11-26
Dear Dr. Don,
My husband and I have had major health issues. Our credit has become very poor through no fault of our own. We need to find means to get a mortgage to pay off a two-year balloon mortgage.

Peggy Problem

Dear Peggy,
Health issues quite often result in credit problems. Even if you had an emergency fund in place, it's hard to keep your financial affairs afloat when a loss of income and/or medical expenses create financial pressure on your household budget for an extended period of
Read the full story at Bankrate.com
 






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