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Mortgage News for Wednesday - September 17, 2003

More Mortgage News
• Housing Construction Drops in August
• WaMu settles mortgage service suit
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• 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
International habitat - Auburn-based company brings workers in from Mexico, Japan for Habitat for Humanity - 2003-09-17
In one week's time, 20 volunteers visiting from Japan and Mexico are constructing new house for a single mother and her three young children.

Mortgage payments for the low-income homeowners are spread over 20 to 30 years and those payments will not exceed 30 percent of the family income. To qualify for the program, a family's income must be between 25 and 30 percent of the area's median income.
Read the full story at King County Journal
 
Fed Signals a Spate of Low Interest Rates - 2003-09-17
It is music to the ears of some borrowers, but a nightmare for some savers: A key short-term interest rate could stay at a 45-year low for quite some time, Federal Reserve policy-makers hinted.

Consumers have been the main force keeping the economy going. They are keeping cash registers humming and have kept home sales brisk even as longer-term mortgage rates have crept up.
Read the full story at Miami Herald
 






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