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Mortgage News for Monday - February 7, 2005

More Mortgage News
• Focus on APRs, not nominal rates when looking to refinance mortgage
• Increased interest rates seen reducing home sales
• Subprime mortgage loans driving California housing market
• Hot housing market fueled by out of town investors
• U.S. mortgage rates unchanged Monday - BestInfo
• Georgia Attorney Enters Guilty Plea in Connection with Mortgage Fraud Scheme
• Don't be confused by mortgage types
• Mortgage company expands in Temecula
• GoApply.com Gets Tough on Internet Mortgage Spam
• Real estate gaffes vex 1st-time home buyers when preparing taxes
Mortgage News
GoApply.com Gets Tough on Internet Mortgage Spam - 2005-02-07
The scenario is becoming more and more familiar for millions of unsuspecting consumers across the U.S. -- a daily inundation of unsolicited emails offering low interest rate mortgages and other spam-oriented home loan and refinance offers.

Specifically, the issue of spam -- or unsolicited Internet junk mail -- has become a hot topic in the online mortgage industry in recent months.
Read the full story at PR Newswire (press release)
 
Real estate gaffes vex 1st-time home buyers when preparing taxes - 2005-02-07
No one is perfect, especially when it comes to preparing a federal income-tax return.

With that in mind, here, according to the Internal Revenue Service, are some of the common errors first-time home buyers commit with their real estate and taxes:

Refinance points. The points you pay to refinance a mortgage are not deductible in full in the year you paid them. You must spread the amount throughout the life of the loan.
Read the full story at Orlando Sentinel
 






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