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Mortgage News for Thursday - June 16, 2005

More Mortgage News
• Top Economists Predict Strong Growth in Homeownership and Housing Production
• The global housing boom
• Average rate on 30-year mortgage at 5.63% this week, refinance mortgage activity up
• The Mortgage Trap
• Credit card that helps pay off your mortgage
• Mortgage Fraud Suspect Nabbed
• Southern, Calif. home mortgage payments rise in May
• Mortgage broker guilty in identity theft case
• Mortgage Giant Fannie Mae sees home-price gains moderating
• U.S. Economy resumes growth
Mortgage News
Credit card that helps pay off your mortgage - 2005-06-16
Yorkshire Building Society (YBS) is starting a new credit card with a cashback feature which credits the mortgages of all new borrowers.

One per cent cashback will be earned for the first £2k spent every year preceded by 0.5% on spending above £2k p.a. The cashback will be applied directly to the mortgage account annually.
Read the full story at Easier
 
Mortgage Fraud Suspect Nabbed - 2005-06-16
The state Attorney General's office continued its attack on mortgage fraud Wednesday by serving nearly 20 search warrants in the Metro Atlanta area. One arrest was made.

The scheme involved homes that were bought at market value and then mortgaged at inflated prices. One Gwinnett County neighborhood suffered the hardest hit when search warrants were served at 14 homes believed to be part of a mortgage flipping scheme.
Read the full story at WXIA-TV
 






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