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Mortgage News for Saturday - April 3, 2004

More Mortgage News
• Big risks, big rewards for those working in Iraq
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• Mortgage Endowment: Six ways to quickly lose £30bn
• Local builder draws five-year sentence for mortgage fraud
• Low Rates Signal Another Round of Refinancing
• Salary gap hits first-time buyers
• Helping Hard-Pressed Owners Safeguard Homes
• Mortgage forgery charges pending against developer
• Winona in midst of housing boom
• Rentals bring tax breaks, burdens
• Real deal on real estate
• 30-Year Mortgage Rates Higher
• Meet Mr Average: worth £82,400 and a hostage to house prices
• Construction Spending Falls in February
• S'pore banks bet big on mortgages
• Buyer's tricks in a runaway seller's market
• Unpaid taxes put homes at risk
• Where the jobs are
• House named in memory of woman
Mortgage News
Salary gap hits first-time buyers - 2004-04-03
House and flat prices are now currently too expensive for single first-time buyers in all regions of the UK except Scotland, according to research.

Salary database PayFinder.com found that house prices are now more than four times average earnings for first-time buyers everywhere except Scotland.

Mortgage lenders will traditionally lend a single person 3.5 times their income to buy a property.
Read the full story at BBC News
 
Helping Hard-Pressed Owners Safeguard Homes - 2004-04-03
When Mary Williams decided that her home in Roosevelt was in desperate need of repairs and that she required financial help to make them, she turned to the Community Development Corporation of Long Island.

Ms. Williams, who lives with her daughter, a nursing student, also has a $552 monthly mortgage payment on her home.
Read the full story at New York Times
 






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