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Mortgage News for Saturday - February 28, 2004

More Mortgage News
• Mortgage Endowment red letters criticised
• Tax reduction strategies before April 15th
• MORTGAGE GIANT FREDDIE GAVE NEW CEO $8.8M INCENTIVE
• General News: Average tax refunds higher over last year
• Adjustable-rate mortgages a gamble at today's low rate
• Reasons remain to refinance mortgage
• Mortgage round-trip: Timing a home sale, home purchase
• Resources for first-time home purchasers
• Sheriff holds back on foreclosure sale of houses
• First-time homebuyers should be careful
• Mortgage lender Abbey shares drop
• Housing development slightly drops in Evanston
• Philadelphia sheriff temporarily halts foreclosure sales
• Insuring That Older Home May Require More Time, Work and Money
• INTERNATIONAL: Mortgage loans target Mexicans
• Increase home insurance as house value climbs
• No deposit needed for a $150,000 mortgage loan
• Listing service posts drop in house sales
• Mortgage giant Freddie Mac Paid Ex-CEO $19.4 Million
• Amstar Financial Services Announces Stoppage of Mortgage Lending Operations
• Mortgage loans pick up again in January rise
• Residential Mortgages: Home to roost
• Court maintains award to victims of property flipping
• Mortgage Giant Freddie Mac lures Syron
Mortgage News
Mortgage round-trip: Timing a home sale, home purchase - 2004-02-28
Given their situation, most people would sell their old house and purchase their new house on the same day. But it's not always possible to time the closing of the sale and the closing of the purchase within minutes of each other.

First, a gap in ownership occurs when you have to sell your old house a few weeks or months before you buy your new one. Second, an overlap in ownership happens when you buy your new house before closing on the sale of the old one, forcing you to pay two mortgages for a while.
Read the full story at Bankrate.com
 
Resources for first-time home purchasers - 2004-02-28
Dear Steve,
I'm looking into purchasing a home for the first time. I don't really know that much about it, though. Where can I find all the financial information about the whole thing, so I don't get ripped off? Thanks,
Grateful Greg

Dear Grateful,
Do your own Internet searches under "first-time home buyer," and later add such key words as: advice, primer, guide, tips, mistakes, finances, mortgage and checklist to that search. You'll find the resources are practically limitless.
Read the full story at Bankrate.com
 






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