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Mortgage News for Sunday - April 3, 2005

More Mortgage News
• Avoid costly last-minute mortgage refinance tax errors
• They're In With Interest Only Mortgage — but Not Home Free
• Mortgage refinancing, ARM To Fixed
• Homeowners in Harm's Way
• Some subprime mortgage borrowers pay extra for their poor credit report
• Interest-only mortgage loans: are they worth the gamble?
• Conditions Are Right for More Foreigners to Buy Florida Real Estate
• European homes' high cost pushes buyers to creativity
• U.S. Economy: Job Gains Trail Forecast as Prices Rise
• The U.S. economy is based on borrowing
Mortgage News
Conditions Are Right for More Foreigners to Buy Florida Real Estate - 2005-04-03
So many television programs about buying real estate in the United States are now on Irish television that they've eclipsed Ana McColgan's beloved celebrity-chef shows.

A weak U.S. dollar and low mortgage rates, along with easy access thanks to competitive international airfare, have made owning real estate in the United States highly desirable for foreigners in recent years.
Read the full story at The Ledger
 
European homes' high cost pushes buyers to creativity - 2005-04-03
Jack Bowley had enough of paying rent with nothing to show for it and wanted to buy a home in London, where he works. Given how swiftly prices were rising, and how much of a down payment he would need for a mortgage, he couldn't reach the first rung of the ladder.

He and the two friends who were renting with him obtained a joint mortgage in late 2003 to buy a three-bedroom flat in Hackney, a developing area of East London, for 260,000 pounds (now about $500,000).
Read the full story at Arizona Republic
 






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