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Mortgage News for Tuesday - January 18, 2005

More Mortgage News
• Warning over 130% Mortgage Deal
• 7 ways to spot a shady mortgage lender
• Mortgage regulations head to Senate
• Who suffers most if housing bubble in bursts?
• Real estate loan insurer boosts profits
• Use caution when refinancing your mortgage loan
• NFL Players Build Homes for Local Families
• Builders defend mortgage giants Fannie, Freddie
• $1 Trillion Target for Home Loans Firm Helps Minorities, Poor
• Canadian home resales up sixth year in a row
Mortgage News
Warning over 130% Mortgage Deal - 2005-01-18
Consumers were warned today to be careful of a new mortgage deal which allows people to borrow 130% of the value of their home.

Max 130 has been created by Mortgage Express – the specialist lending arm of Bradford & Bingley. It lets consumers borrow up to 130% of their property’s value with no higher lending charge and is designed to meet the needs of first-time buyers, people without a deposit and those that require cash and debt consolidation.
Read the full story at The Scotsman
 
7 ways to spot a shady mortgage lender - 2005-01-18
Johnny Bell had a new deck and other home improvements planned when he refinanced his home in Oxford, Miss., last summer.

Make that close to being refinanced. The mortgage industry has dug in its heels against government regulation at any level that would restrict access to credit.
Read the full story at MSN Money
 






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