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Mortgage News for Sunday - February 6, 2005

More Mortgage News
• Homeowners' biggest deductions: mortgage interest, property tax
• Oh, to see the Super Bowl? Try a 2nd mortgage
• State court tosses out local mortgage rules
• Westpac welcome mat for brokers
• £1 trillion: our home loan debt
• Georgia struggles with rising tide of mortgage fraud
• Internet helps mortgage hunters find better deals
• Short-term interest rate hike has winners, losers
• Sharp decline in mortgage refis seen
• Escrows hit home
Mortgage News
£1 trillion: our home loan debt - 2005-02-06
Britain's mortgage debt will surpass the £1 trillion barrier for the first time next year, according to the Council For Mortgage Lenders.

The huge number of more than £1,000bn will mean the stock of outstanding mortgages will almost equal an entire year's gross domestic product - the income produced by Britain's businesses, Government and individuals.
Read the full story at This is London
 
Georgia struggles with rising tide of mortgage fraud - 2005-02-06
Oslen Ware thought he landed a good deal when he bought a home in the Apple Valley subdivision in 2003.

He took out $10,000 from his 401(k) and used it as a down payment on the three-bedroom home in northeast Bibb County. But his happiness was short-lived. Ware found that the mortgage payments were almost $800, about $200 more than he expected.
Read the full story at Macon Telegraph
 






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