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Mortgage News for Saturday - December 25, 2004

More Mortgage News
• Many drawn by joys of being a landlord
• Jeff Brown: Time to leave your ARM, switch to low fixed rate
• How to save 10 percent of your income
• Finance: the Deal on Home Equity Lines
• A booming market
• Housing market to end year on strong note
Mortgage News
How to save 10 percent of your income - 2004-12-25
The wish list is long. But Santa sure isn't paying the bill.
I keep hearing about things that apparently I just have to have, like a flat-screen television, and a bigger home, and a commodity fund. But what am I meant to give up?

Don't foolishly buy into the conventional financial wisdom. We are often advised to purchase the biggest house possible, take out the largest mortgage possible, buy life insurance equal to five times income and keep a hefty pile of emergency cash.
Read the full story at South Coast Today
 
Finance: the Deal on Home Equity Lines - 2004-12-25
The mortgage refi boom was .... well, so last year. Now it's time to look at a home equity line of credit that you can use as you'd like.

Mortgage bankers and brokers are eagerly pushing them; they built up the infrastructure when they did almost $1.7-trillion in refinances in 2003.

With interest rates rising, cash on hand, and plenty of spare time now that the refi boom has subsided, mortgage lenders are happy to dole out variable rate money to equity-rich homeowners.
Read the full story at IWon
 






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