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Mortgage News for Sunday - March 7, 2004

More Mortgage News
• Why an expanding economy does not create new jobs
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• Data for mortgage borrowers: More might be less
• A new rule of thumb for mortgages
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• Counselors: Be cautios about home equity
• Los Angeles County Housing Market Looks Difficult to Predict
• Hayhurst Mortgage assistant VP position filled
• Mortgage assistance available for first time home buyers
• Condos will now come within reach
• Money Matters: Using IRA for house may be costly
• Free credit report law behind
• As Americans accumulate more debt, fewer building nest egg
• Mortgage refinancing rebounds
• Adjustable-rate mortgages a gamble at today's low rate
• Consumer debt increase shocks' potency-economist
• Housing agency changes income rules for mortgage
• Expensive homes: Who lives there, anyway?
• Real Estate: The reliability factor
• Adjustable-rate mortgages usually best deal
Mortgage News
Mortgage assistance available for first time home buyers - 2004-03-07
For more than 10 years, Florida City resident Altermese Williams was a drug addict who could never thought of owning her own home.

Today, though, she says proudly she has been ''liberated from drugs for nine years'' and holds down a good job.

The average price of the homes is $125,000, and applicants must earn less than $27,000 per year. The average monthly mortgage payment is less than $600.
Read the full story at Miami Herald
 
Condos will now come within reach - 2004-03-07
Genaro Merlos, a Guatemalan native and Miami Beach busboy, resides with three other family members who pool their meager paychecks for their $1,300 monthly rent.

''My goal is to make three to five hundred people property owners in the next five years,'' said Commissioner Joe Sanchez, who helped create and now heads the board. Also involved: chairman Zully Ruiz, a real estate and mortgage broker, former State Rep. Carlos Lacasa, an attorney, and Oscar A. Rodriguez, vice president of development for The Related Group of Florida.
Read the full story at Miami Herald
 






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