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Mortgage News for Sunday - March 20, 2005

More Mortgage News
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• Mortgage Pre-approval Should be 1st Step
• Refinance Mortgage Cash Out: Do the math before you tap into home equity
• Late mortgage payments decline
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Mortgage News
Refinance Mortgage Cash Out: Do the math before you tap into home equity - 2005-03-20
Jim Hamilton made a late-year resolution to get work on his credit card debt.

In December, when he refinanced his mortgage through ACA Mortgage in Wilmington, Del., Hamilton took out an additional $15,000 to pay off debt he was carrying on five credit cards. He’d accumulated the debt spending on everything from new furniture for his home to Christmas presents.
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Read the full story at Quad City Times
 
Late mortgage payments decline - 2005-03-20
Florida's strong economy shook off the effects of last year's hurricanes, which caused a spike in late mortgage payments, a trade association economist said Thursday.

During the third quarter of last year, Florida home loans past due surged to 4.99 percent from 4.02 percent the quarter before. That was higher than the national third-quarter delinquency rate of 4.41 percent.
Read the full story at Orlando Sentinel
 






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