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Mortgage News for Wednesday - September 17, 2003

More Mortgage News
• Housing Construction Drops in August
• WaMu settles mortgage service suit
• Telemarketers' convention focuses on survival
• U.S. Can't Pull World Economy Out Of Slump
• Huge Mortgage: Going Broke
• Verify home's title to make sure all owners are protected
• GMAC mortgage finances $4.5M garden apartments near Palisades
• Victims struggle to repair credit due to ID theft
• Mortgage Banker Association Tells Members To Deliver On Promises
• LenderTechnologies Releases ProtectInfo Customer Information Security Service
• Home Purchase Applications Up as Interest Rates Continue to Drop in Latest MBA Survey
• 100 bucks will secure affordable housing
• Realtors(r) Support Two-Package Approach To RESPA
• Construction labors to reach turning point
• International habitat - Auburn-based company brings workers in from Mexico, Japan for Habitat for Humanity
• Fed Signals a Spate of Low Interest Rates
• Graduates better at paying off loans
• Property boom sparks fears
Mortgage News
Huge Mortgage: Going Broke - 2003-09-17
BILL HEMMER, CNN ANCHOR: There is a new book suggesting this year that more children will live through their parent's bankruptcy than their parent's divorce.

WARNER: Well, the principal reason is schools, because the No. 1 increase for families from a generation ago to right now is what they're spending on mortgages. The cost of a mortgage for a median income family has gone up 70 times faster than a father's income, when adjusted for inflation on both sides.
Read the full story at CNN
 
Verify home's title to make sure all owners are protected - 2003-09-17
You've refinanced your mortgage, flushed out the gutters and installed energy-efficient windows. You've even vacumed some of the dog hair from the furniture. But before you relax on your fur-free sofa, take a minute to review the title to your home.

Many couples don't pay much attention to the way the deed to their home is titled, and that can cause problems later. The title states how your property is owned.
Read the full story at USA Today
 






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