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Mortgage News for Saturday - January 24, 2004

More Mortgage News
• 30-Year Mortgage Rates Dip to 5.64%
• Zero-Down Mortgages Could Become an Option for First-Time Buyers
• Strong full year seen at Northern Rock Mortgage Bank
• State median home price hits $335,000
• Foreclosed house isn't off-limits
• Fed stays on sidelines, won't change rates
• Reverse mortgage accrued interest deductible
• Mortgage broker at Marietta office named 03 Top Gun
• California's real estate costs doesn't discourage buyers
• Mortgage company's troubles persists
• Ohio gives warning to 14 mortgage broker firms
• Bad loans, economy drag down Old National
• Mortgage firm hailed by USDA
• Former title agent going to jail for taking $180,000
• Rents Higher for Apartment Dwellers in Riverside
• Realtors see more sunny days
• Irwin Financial posts profit increase of 30% in 2003
• BWC Financial Corp. Declares Fourth Quarter & Year End 2003 Earnings
• Steady is the Fed's stance
• 2001-2003 key interest rate moves
Mortgage News
Reverse mortgage accrued interest deductible - 2004-01-24
Several months ago you printed a letter from someone who said that, as heirs to his parents' estate, he and his brother are allowed to deduct the accrued interest on the reverse mortgage on the inherited estate when the mortgage was paid down.

My aunt had a $170,000 reverse mortgage on her home when she died in June 2003. Her house was sold and the reverse mortgage was paid off. I am one of four heirs. Am I able to claim one-fourth of the accrued interest on my income tax return?
Read the full story at Akron Beacon Journal
 
Mortgage broker at Marietta office named 03 Top Gun - 2004-01-24
HomeBanc mortgage broker Greg Clements was honored as HomeBanc's company wide 2003 "Top Gun" for processing 733 loans worth $90.85 million during the past year.

In addition to his top company ranking, was ranked among the top mortgage bankers in the nation. The award was presented to Clements at HomeBanc's annual meeting Jan. 17 at the Georgia World Congress Center in downtown Atlanta.
Read the full story at Marietta Daily Journal
 






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