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Mortgage News for Wednesday - March 2, 2005

More Mortgage News
• U.S. mortgage refinancing drops as rates rise
• Time to act in mortgage belt
• A Plan to Prepay the Mortgage Should Be a Defensive Position in Any Investment Portfolio, Says MIFSP
• U.S. mortgage rates unchanged Tuesday - BestInfo
• Smokers could save £40,000 on mortgage interest payments
• Man gets 20-month term for mortgage loan scam
• Fresh Pricks In Housing Bubble
• More plan to purchase a house
• Greenspan: U.S. Economy Sound, Spending Curbs Needed
• U.S. stocks fall on interest rate worries
Mortgage News
Smokers could save £40,000 on mortgage interest payments - 2005-03-02
A 20-a-day smoker could save over £40,000 on the interest payments of their mortgage, a new report has said.

Mortgage broker Charcol has calculated that if the money from purchasing cigarettes was put into overpayments on a home loan, not only would the mortgage be paid off more than eight years quicker, but the former smoker would pay £41,168 less in interest over the term of the loan.
Read the full story at MyFinances.co.uk
 
Man gets 20-month term for mortgage loan scam - 2005-03-02
U.S. District Judge Sarah Evans Barker on Monday sentenced a 39-year-old Indianapolis man to 20 months in prison for money laundering and intention to commit mail fraud.

Scott Thomas Earlywine pleaded guilty to both federal charges. He and his co-conspirators fraudulently got more than $700,000 through 21 mortgage loan transactions, according to the U.S. attorney's office.
Read the full story at Indianapolis Star
 






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