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Mortgage News for Thursday - January 27, 2005

More Mortgage News
• U.S. fixed mortgage rates fall 4th week
• Panel: Mortgage rates could slow KC's building permits
• In-depth look at mortgage elimination schemes
• Mortgage Bankers Are Projecting Strong Economic Growth Through 2007
• Bad news: Mortgage industry heads for layoffs
• Thornburg Mortgage's Q4 and year-end earnings rise
• BBB uncovers alleged mortgage scam
• Reverse mortgages are becoming more popular with older Americans
• Wells Fargo launches 10-year adjustable-rate mortgage loan
• Mortgage Brokerage Company Owner Pleads Guilty in Flipping Scheme
Mortgage News
In-depth look at mortgage elimination schemes - 2005-01-27
A lender in Florida last November was unmoved by various property documents filed by a group that claims to discharge mortgages for consumers, and instead issued a foreclosure notice against the property trustees.

Thousands of Web sites have shown up on the Internet promoting methods to instantly eliminate home mortgages and other forms of debt. To participate, consumers typically have to pay up-front fees, and take part in the preparation and filing of various property documents that purport to wipe out debt.
Read the full story at Inman.com
 
Mortgage Bankers Are Projecting Strong Economic Growth Through 2007 - 2005-01-27
The Mortgage Bankers Association (MBA) is forecasting strong economic growth through 2007, with gross domestic product (GDP) growing at a trend rate of about 3.5 percent in real terms annually.

MBA unveiled its long-term economic forecast for 2005, 2006 and 2007 during its annual State of the Real Estate Finance Industry.
Read the full story at RisMedia.com
 






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