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Mortgage News for Sunday - March 13, 2005

More Mortgage News
• Biweekly mortgage: Gain with no pain
• Chain of events in the Brasota Mortgage Co. case
• Simple way to shrink debt: Pay down principal
• Reverse mortgage is an option for retirees
• Use caution when refinancing your home loan
• Bay Area's economy bruised but still strong
• Mortgage prepayment penalties can sting
• Escalating cost of materials drives up housing prices
Mortgage News
Biweekly mortgage: Gain with no pain - 2005-03-13
The idea of accelerating mortgage payments is alien to most homeowners, but a growing number of people are racing to do just that. And they save a bundle in mortgage interest in the process without a lot of pain in the pocketbook.

The phenomenon is known as biweekly mortgage payments, and while it's not meant for everybody, it's worth a look for homeowners who want the discipline of every-other-week payments.
Read the full story at Daytona Beach News-Journal
 
Chain of events in the Brasota Mortgage Co. case - 2005-03-13
Oct. 8, 2004 - William J. Morrison, owner of Brasota Mortgage Co. and BMC Realty Inc., pasees away, putting his business interests in the hands of wife Gloria Morrison.

Late January 2005 - Brasota employees discover the company books are out of balance while starting preparation of investor 1099 forms. A Brasota principal contacts Tampa-based Broad and Cassel's Joseph B. Donnelly for legal advice.
Read the full story at Bradenton Herald
 






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