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Mortgage News for Friday - January 23, 2004

More Mortgage News
• U.S. mortgage rates same on Friday
• Regions, Union Planters declare merger plans
• Rising mortgage rates won't hurt US housing-Fannie Mae
• Home market soars
• Santa Clara County home sales up
• Lending Suit Settlement Means Less Money for North Carolina Plaintiffs
• Does purchasing a home always beat renting?
• Mortgage rates reaches 40-year low
• Denver Chamber Sees 1.2 Percent Job Growth
• Identity theft growing rapidly
• U.S. agency wants Freddie Mac executive testimony
• Ventura County, Calif., Real-Estate Firms Declares Profit in Fourth Quarter
• Wauwatosa, Wis., Economic Development Corporation Regroups
• The murkiy side of the mortgage
• New-Home Building Frenzy Goes into December
• A major forecaster of trends increases optimism
• New home prices increase by £8,000
• Standard deal on mortgages
• FHA wants to insure zero-down mortgages
• The Debt Adviser
• Lower mortgage loan activity hurts Bank of Ky. 4Q
• Some facing retirement worry about having too much income
• Auditor quits at Met Mortgage
• Associated Bank income increases 4.1 percent
Mortgage News
FHA wants to insure zero-down mortgages - 2004-01-23
Zero-down home loans have become so popular that the federal government wants to get into the act.

Borrowers would be able to take out no-money-down mortgages insured by the Federal Housing Administration under a proposal by the housing department. Right now, FHA-insured loans are limited to a maximum of 97 percent of the home's price, meaning that homeowners have to come up with a 3 percent down payment
Read the full story at Bankrate.com
 
The Debt Adviser - 2004-01-23
Dear Debt Adviser,
My fiance does not posess good credit. As a matter of fact, his credit is truly terrible. I, on the other hand, have excellent credit. I have heard that when two people marry, their credit merges and the bad credit will drag down the other's good credit.

So after the wedding and when you are ready to purchase a home, your excellent credit score and his improved credit score together should translate into a reasonable if not great interest rate for a mortgage loan.
Read the full story at Bankrate.com
 






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