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Mortgage News for Monday - January 3, 2005

More Mortgage News
• Developer to sell rentals in Allston as condos
• FHA increases mortgage limit for home buyers
• Online mortgage tycoon buys Cavs
• Mortgages Made Easier For Wisconsin's Illegal Immigrants
• Construction spending fell during November.
• Metro home sales boom may not last
• Energy-Savings Bar risingNew Home-Building Requirements Are Coming in 2005 for City, State
• California Survey Sees Shift in Home Financing
Mortgage News
Online mortgage tycoon buys Cavs - 2005-01-03
The Cleveland Cavaliers were acquired Monday for $375 million by the founder of the nation's largest online mortgage company, who acquires a team that has surged from the NBA's depths since the arrival of LeBron James.

Dan Gilbert of Detroit, founder of Quicken Loans, will take ownership of the Cavaliers and operational control of the 20,000-seat Gund Arena once the league's Board of Governors approves the deal.
Read the full story at The Indianapolis Star
 
Mortgages Made Easier For Wisconsin's Illegal Immigrants - 2005-01-03
In a pilot program described as the first of its kind, an agency started by the state government is making it easier for illegal immigrants in Wisconsin to obtain mortgage loans.

Immigrants who do not have Social Security numbers -- a common requirement for loans – can utilize an alternative government-issued tax number to get financing for new homes, under the Wisconsin Housing and Economic Development Authority (WHEDA) program.
Read the full story at The Milwaukee Channel
 






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