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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
INTERNATIONAL: Mortgage loans target Mexicans - 2004-02-28
Mexico's biggest private mortgage company will open an office in New York next week, providing loans to Mexicans working in the United States to buy homes in Mexico.

The loans will be in pesos and will carry the same conditions as the mortgages the company grants in Mexico, except that they will finance 80 percent instead of 90 percent of the value of homes, Requejo said. He said monthly payments would be around $400.
Read the full story at Pioneer Planet
 
Increase home insurance as house value climbs - 2004-02-28
Q: We purchased our home in 1991 and paid off its mortgage in 2001. Since our home's market value has doubled in value, and it is more expensive to build a house now, is there any need to request our insurance coverage be increased?

A: Shame on your insurance agent for not periodically updating your homeowner's insurance coverage to the current replacement cost of your residence at today's construction cost.
Read the full story at Akron Beacon Journal
 






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