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Mortgage News for Monday - February 16, 2004

More Mortgage News
• Homeownership is good at tax time
• Developers cut incentives
• North Fork Said to Be Near Deal to Acquire GreenPoint Financial
• Fannie Looks Southwest For Home
• Building society announces best lending figures
• California Home Prices Goes On To Break Records
• OTP plans 16% revenue growth at parent bank in 2004
• Mortgage firm appoints Sexton vice president
• NAB chairman Allen resigns
• Tax Time 2003
• ‘LIFETIME’ MORTGAGE RISE COULD MEAN DANGER FOR UNPROTETCED BORROWERS
• Fulton County mortgage tax increase
• Mortages "volatile" in OCR wake
• The Fed on Mortgage Giants Freddie and Fannie
• Finance Ministry Studies Tax Breaks for 'Reverse Mortgage'
• Bank of Nova Scotia to lower mortgage rates
• Abbeys new specialist mortgage service to work on large loans
• Back Yard: Group raising funds to build houses
• FREDDIE MAC ASSISTED A RECORD NUMBER OF FAMILIES OBTAIN LOW COST MORTGAGES AND AFFORDABLE HOUSING IN 2003
• FREDDIE MAC APPOINTS NEW VICE PRESIDENT FOR SALES
• New county housing plan puts homes in reach of the disabled
• Tool Adjusts Mortgage Lending Playing Field Between Credit Unions and Nationwide Mega-Lenders
• Local brothers build paperless mortgage origination system saving processing time
• Get credit cleaned up before interest rates rise
• Mortgage bank eliminates N. Virginia jobs
• Don't buy into a mortgage mess
Mortgage News
Homeownership is good at tax time - 2004-02-16
There are times when you're regretting that you're a homeowner -- like when your roof's leaking. But being a homeowner is usually good news at tax time because of the deductions you get.

As a homeowner, you can deduct from your income taxes the amount you paid in property taxes, and the interest you paid on your mortgage.
Read the full story at Contra Costa Times
 
Developers cut incentives - 2004-02-16
Developers are slashing incentive packages for home buyers, in a direct attact at the speculators blamed for the 20 per cent increase in flat prices over the past few months.

Cheung Kong (Holdings), Hong Kong's biggest developer by sales, and New World Development say they will stop offering secondary mortgages at their joint-venture Sky Tower project in To Kwa Wan.
Read the full story at The Standard
 






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