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Mortgage News for Friday - March 26, 2004

More Mortgage News
• So Many Choices: Mortgages
• Mortgage rates energize February home sales
• Mortgage Industry Turns To IT For Faster, Cheaper Closings
• Hawaii mortgage rates 5% to 5 1/8%
• Broker sentenced for mortgage fraud
• Mortgage lending set to rise again
• Low Mortgage Rates Spark Rise in Denver-Area Home Sales
• Five Reasons To Get a Pre-Approval Letter For Mortgage
• Interest-Only Mortgages Create Interest Among Home Buyers
• Freddie Mac, Housing Authority of Fulton County Launch $40 Million Effort to Boost Minority, Affordable Homeownership
• New homeowners surprised by escrow
• Despite prices, home sales remain on record pace
• Home resales on the rise after mortgage rate drops
• Strong Real Estate Market in California Causes Bidding Wars
• Tampa, Fla.-Area Housing Boom Just Keeps Going and Going
• Consumer Spending Grows by 0.2 Percent
• 1-year Adjustable Rate Mortgage lowest on record
• Preparing for closing: Understanding the process
• Home prices likely at top
• Homebuyers' heartache
• County's home prices continue to climb
• Q4 US growth slows to 4.1%; jobless claims up
• Warning on mortgage loans to house buyers
• Bush woos Hispanics voters in New Mexico
Mortgage News
Interest-Only Mortgages Create Interest Among Home Buyers - 2004-03-26
You should devote attention to the type of loan product that a mortgage lender picks for his home mortgage. In my opinion, the new interest-only loans are one of the best loan programs available, and I'm personally enjoying the benefits.

Interest-only loans allow borrowers to pay only on their mortgage's interest for a fixed term, usually five to 10 years. The mechanics of these loans vary from bank to bank, but their popularity is growing, and you can expect to see more versions debuting in the coming year.
Read the full story at Builder Online
 
Freddie Mac, Housing Authority of Fulton County Launch $40 Million Effort to Boost Minority, Affordable Homeownership - 2004-03-26
A creative $40 million effort designed to assist as many as 350 Fulton County renters to lease -- and then own-- their own homes called Pathways to Homeownership was announced today by the
Housing Authority of Fulton County (HAFC), US Bank, Leader Mortgage, and Freddie Mac, one of the nation's largest investors in residential mortgages.
Read the full story at PR Newswire
 






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