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Mortgage News for Saturday - April 2, 2005

More Mortgage News
• Mortgage refinancing market drying up
• A few simple rules can help you better manage your money
• Suit focuses on credit insurance
• Soaring oil prices spur inflation fears
• The risks from falling home prices
• Mortgage fraud investigation is a tale of family ties
• Old economy: Over-55 workers crowd out job hopes, economist says
• Local mortgage firms searched by federal agents
Mortgage News
The risks from falling home prices - 2005-04-02
When I interviewed for the job that first brought me to New England in 1994, I had meetings with seven different executives.

Four of them were underwater on their mortgage, meaning that if they had to liquidate their home in the Boston suburbs, they would have to bring money to the table to pay off their lender because the home had declined in value.
Read the full story at Quad City Times
 
Mortgage fraud investigation is a tale of family ties - 2005-04-02
The federal investigation started last summer with a dead man, a slice of Hollywood property and a burned speculator who turned whistleblower, according to court records.

City officials said Milano is under "criminal investigation." The investigation is linked to a $5.5 million mortgage fraud case involving her brother and his wife, Scott and Samantha Johnson, of Parkland. The couple pleaded guilty in February and are cooperating, court records show.
Read the full story at Sun-Sentinel
 






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