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Mortgage News for Tuesday - February 24, 2004

More Mortgage News
• Greenspan: Mortgage debt could be threat
• CEO of collasped mortgage co. pleads guilty
• Mortgage giant Fannie Mae says Greenspan fails to appreciate its role
• First-time house purchasing '33% less affordable'
• Bank provides Islamic mortgage
• Disappointing consumer confidence report push stocks down
• Greenspan says Adjustable Rate Mortgages might be better option
• Don't ignore tax breaks for mortgage points
• Raleigh, N.C.-Area Professionals See Many Learn Difficult Lessons during Tax Season
• Twenty-somethings hurry to acquire homes
• CMHC allow buyers work for down payment
• Zero Down Payment Plan Could Make Initial Home Ownership 'Too Easy'
• Mortgage giants Fannie Mae, Freddie Mac Lower on Greenspan Speech
• FTC Testifies on its Actions to Fight Unfair and Deceptive Subprime Lending
• US Treasury Sec, Greenspan Draw Positive Picture of US Economy
• Bain supports probe of bank lending practices
• First-time home buyer numbers 'collapse'
• Two charged in federal mortgage scheme situation
• Acxiom Builds Alliance To Combat Financial Fraud
• Mortgages: J.P. Morgan merger criticized
• Analysts: Longer-term lending main challenge this year
• Higher mortgage rate despite higher equity
• Standard Life faces anger over executive pay
• Mortgage Firms are Shut Down
Mortgage News
Greenspan says Adjustable Rate Mortgages might be better option - 2004-02-24
Federal Reserve Chairman Alan Greenspan said Monday that Americans' desire for long-term, fixed-rate mortgages suggests many are paying more than necessary for their homes and suggested consumers would benefit if lenders offered more alternatives.

In a standing-room-only speech to the Credit Union National Association meeting here, Greenspan also said U.S. household finances appeared generally sound, despite rising debt levels and bankruptcy filings.
Read the full story at USA Today
 
Don't ignore tax breaks for mortgage points - 2004-02-24
Did you take advantage of historically low mortgage rates last year to acquire, build or refinance a home? Then you probably already know of the tax advantage that mortgage interest can bring.

But many homeowners overlook the tax break available for points paid to get a home loan. In some cases, points also could shave tax bills for folks who refinanced or got an equity loan or line of credit.
Read the full story at CNBC
 






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