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Mortgage News for Sunday - January 18, 2004

More Mortgage News
• Going over the financial cliff
• Area families closer to attaining new houses with SuperBUILD
• Las Vegas Builders' Show Will Take No Chance
• Improving Credit Rating
• Housing, consumer debt and the next financial meltdown
• How can I liberate my wife from liability?
• Reverse Mortgage: Banking on the house
• Spending probably to be stronger
• Bellwether Wachovia expects healthy growth
• Former Mortgage Broker Finding Success On The Internet
• Mortgage servicer Ocwen's practices leaves bad aftertaste
• Home Starts Seen Close to Two-Decade High: U.S. Economy Preview
• Good ways to get out of debt and cure the holiday hangover
• Private mortgage insurance eats into budget
• House sold twice
• Sales tax affects more the poor than the rich, studies find
• Avoid getting lynched in the inheritance tax man's noose
• Stressed by economy, consumed by debt
Mortgage News
House sold twice - 2004-01-18
Q: My friend thought she purchased her dream home. She arranged the mortgage and had the customary inspections. But when she phoned the realty agent, she didn't get return phone calls. Eventually, she learned the sellers sold the same house to another buyer. What recourse does my friend have?

A: Your friend should run to the office of a real estate attorney. Two sales of the same property create a breach of contract.
Read the full story at Press-Telegram
 
Sales tax affects more the poor than the rich, studies find - 2004-01-18
He arrived to Florida more than 30 years ago as a migrant worker, picking fruits and vegetables and making barely enough money to survive. Now, Tirso Moreno has a mortgage and two kids in college and earns about $30,000 a year.

Under Florida's tax system, Moreno pays more than 3 cents of every dollar he makes in sales taxes, while someone earning $300,000 or more pays just a half-cent, an analysis has found.
Read the full story at Sun-Sentinel.com
 






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